(Reuters) -Nvidia’s financial chief said restrictions on exports of artificial intelligence chips to China “would result in a permanent loss of opportunities for the U.S. industry” though the company expected no immediate material impact. U.S. officials are considering tightening an export control rule designed to slow the flow of AI chips to China by clamping…
By Akash Sriram and Noel Randewich (Reuters) -Apple’s stock climbed to a record high close on Wednesday and was on the cusp of a $3 trillion market capitalization. The iPhone maker’s stock rose 0.6% to end the day at $189.25, putting Apple’s market value at $2.98 trillion, according to Refinitiv data. It was the second…
(Reuters) -Private equity firm Arcline Investment Management proposed to buy Circor International for $1.8 billion including debt on Wednesday, topping a rival bid from KKR & Co for the industrial machinery maker. Arcline’s bidding war with KKR had already forced the latter to sweeten its deal with Circor to $1.7 billion from $1.6 billion. Arcline…
By Lisa Baertlein LOS ANGELES (Reuters) – The union representing roughly 340,000 U.S. drivers, package handlers and loaders at United Parcel Service on Wednesday demanded that UPS make its “last, best, and final offer no later than June 30.” The International Brotherhood of Teamsters said it walked away from the national bargaining table in Washington,…
By David Shepardson (Reuters) -The trade group representing nearly all major automakers wants the U.S. Environmental Protection Agency to soften its proposal to sharply cut vehicle emissions through 2032 saying it is “neither reasonable nor achievable.” The EPA said in April the proposed 2027-2032 standards would cut emissions by 56% compared to the existing 2026…
By Medha Singh (Reuters) – Shares of U.S. chipmakers fell on Wednesday following reports that the Biden administration was planning new curbs on export of computing chips for artificial intelligence to China as early as July. Companies such as Advanced Micro Devices, Nvidia and Intel, which rely on the world’s second-largest economy for at least…
By Foo Yun Chee BRUSSELS (Reuters) – Businesses and Big Tech on Wednesday criticised European Union data rules agreed between EU countries and lawmakers, saying they could hinder data flow and contractual freedom, while a pan-European consumer group said they did little for Europeans. The Data Act, agreed on Tuesday, sets out rights and obligations…
(Reuters) -United Parcel Service said on Wednesday it is working with law officials and outside experts following reports of phishing messages that were sent via text messages to certain shippers and their customers in Canada. The package delivery company did not disclose the number of customers and shippers impacted. “Law enforcement has indicated that there…
By Stephen Culp NEW YORK (Reuters) – The Nasdaq Composite Index closed higher and the dollar rebounded on Wednesday as Federal Reserve Chair Jerome Powell suggested two more interest rate hikes are probably in the cards. Of the three major U.S. stock indexes, only the Nasdaq advanced, lifted by megacap momentum stocks led by Tesla…
(Reuters) – The Biden administration said on Wednesday it raised $105 million from solar power developers at a lease auction covering 23,675 acres of Nevada desert this week, making it the highest-yielding federal onshore renewable energy auction to date. NV Energy Inc led the Tuesday auction with more than $80 million in high bids for…
