By Chavi Mehta (Reuters) -IBM Corp beat Wall Street expectations for first-quarter profit on Wednesday and signaled demand for IT services was better than feared, sending shares up 3.5% after the bell. The company’s software and consulting businesses rose 6% and 8.2%, respectively, at constant currency in the first quarter, in line with IBM’s targets….
(This April 18 story has been corrected to fix the title to director, not CEO, in paragraph 4) By Mrinalika Roy (Reuters) – Companies with a focus on the oil-rich Permian basin are likely to be at the center of the next wave of consolidation in the U.S. energy sector as favorable oil prices prompt…
(Corrects typo in lead paragraph) By Blake Brittain (Reuters) – Tesla Inc has settled a lawsuit against one of its former engineers, Alexander Yatskov, whom it accused of stealing trade secrets related to its AI-training supercomputer Dojo, according to a filing on Wednesday in San Francisco federal court. The joint filing said the terms of…
By Tim Kelly TOKYO (Reuters) – Most Japanese firms want Bank of Japan Governor Kazuo Ueda to focus on financial market stability at his first policy meeting next week, with few seeing benefits from any easing of its ultra-loose monetary policy, a Reuters monthly poll showed. Ueda has so far signalled his intent to maintain…
By Blake Brittain (Reuters) – Stability AI, Midjourney, and DeviantArt fired back Tuesday at a group of artists who accused them of committing mass copyright infringement by using the artists’ work in generative AI systems. The companies asked a San Francisco federal court to dismiss the artists’ proposed class action lawsuit, arguing that the AI-created…
(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Wednesday that after the failure of two large regional Fed banks last month roiled the financial sector, he is waiting to see “whether there are other credit shoes to drop.” “Not in the crisis sense, but in the how much squeezing is going to…
-Bed Bath & Beyond Inc is preparing to file for bankruptcy as early as this weekend, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Shares of the company tumbled nearly 23% to 38 cents in after hours trading. They are down about 86% since the company said in January that…
By Doyinsola Oladipo NEW YORK (Reuters) -Las Vegas Sands Corp on Wednesday reported quarterly revenue that surpassed Wall Street estimates as March visitation levels accelerated gaming volumes, retail sales and hotel occupancy. The Las Vegas-based casino operator said traffic is rebounding in Singapore and Macao, and it expects further improvement in travel and tourism spending…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Stocks may be treading water as investors digest a mixed flow of U.S. earnings and red hot UK inflation is pushing up global bond yields, but investors in Asia with a glass half full outlook on Thursday might…
By Jonathan Stempel NEW YORK (Reuters) – Donald Trump wants to attend next week’s trial involving the writer E. Jean Carroll, who has accused him of rape, but may not because of security issues the former U.S. president’s appearance would cause, his lawyer said on Wednesday. In a letter to U.S. District Judge Lewis Kaplan…
