By Greg Bensinger SAN FRANCISCO (Reuters) – Arguing for the government on Tuesday in its legal fight against Microsoft’s $69 billion deal to buy game maker Activision Blizzard, Harvard economist Robin Lee struggled at times to plainly demonstrate how the planned deal would hurt gamers. The U.S. Federal Trade Commission has asked a federal judge…
(Reuters) – National CineMedia LLC said on Tuesday it would emerge from Chapter 11 on or around August or September as its reorganization plan has been confirmed by the U.S. Bankruptcy Court for Southern District of Texas. The biggest movie-theater advertising firm in North America will maintain its existing corporate structure with listed holding company…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks advanced in a broad rally on Tuesday, and the dollar softened as robust economic data eased recession fears and stoked investors’ risk appetite. All three major U.S. stock indexes closed well into positive territory, with tech-related megacaps – particularly those involved in a nascent AI frenzy…
By Krystal Hu (Reuters) -Reka, an AI model startup founded by former researchers from Alphabet’s DeepMind, has raised $50 million in a fresh round of funding from investors including Yuri Milner’s DST Global Partners and Snowflake, the companies told Reuters. The valuation of the deal was not disclosed. A source familiar with the matter said…
By Martin Quin Pollard and Yew Lun Tian BEIJING (Reuters) – As news broke on Saturday that mercenary Wagner troops were careering towards Moscow in a short-lived rebellion, several businessmen from southern China began frantically calling factories to halt shipments of goods destined for Russia. While the mutiny – the biggest test of Russian President…
By Ju-min Park and Heekyong Yang SEOUL (Reuters) – When former Samsung executive Choi Jinseog won a contract with Taiwan’s Foxconn in 2018, he tapped his former employer’s supplier network to steal secrets to help his new client set up a chip factory in China, an indictment by South Korean prosecutors alleges. Prosecutors announced the…
By Hyunjoo Jin and Trevor Hunnicutt (Reuters) -Tesla’s electric-vehicle charging technology is being put on a fast track to become a North American standard, giving a further boost to the automaker’s plan to expand access to its once-exclusive chargers. Tesla’s charging technology has been gathering momentum for weeks. Volvo Car on Tuesday joined General Motors,…
By Nivedita Balu and Fergal Smith TORONTO (Reuters) – Canada’s record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from higher borrowing costs but raising debt loads and worrying regulators. Variable rate mortgages in Canada typically require borrowers…
By Jonathan Stempel (Reuters) -A U.S. judge has rejected Apple’s bid to throw out a class-action lawsuit that accused Chief Executive Tim Cook of defrauding shareholders by concealing falling demand for iPhones in China. U.S. District Judge Yvonne Gonzalez Rogers’ decision late Monday night clears the way for shareholders led by a British pension fund…
By Gabriel Araujo SAO PAULO (Reuters) -Investors were left disappointed by weaker-than-expected order numbers for Brazil’s Embraer at the world’s largest airshow last week, though some analysts were heartened by a bid from China and interest in Embraer’s electric aircraft unit. The world’s third-largest aircraft maker after Airbus and Boeing, Embraer bagged 13 fresh orders…
