By Jan Strupczewski BRUSSELS (Reuters) – The European Union aims to invest tens of billions of euros to bolster its chip industry and double its share of global production to 20%, the bloc’s industry chief said on Friday, after a global shortage showed the risks of relying on Asian and U.S. suppliers. The EU’s ambitious…
By John McCrank NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) late on Thursday approved the country’s 17th stock exchange, a subsidiary of Boston-based BOX Exchange, which will incorporate blockchain technology. The new exchange, named BSTX, aims to launch in the second quarter, said Jay Fraser, a director. It will initially trade securities,…
A federal appeals court has upheld California’s net neutrality law, rejecting an attempt by telecommunications industry groups to prevent the state from enforcing it. The 9th Circuit Court of Appeals upheld a previous ruling, which means the status quo stays and the state can continue to enforce the law. This means California can continue its…
LONDON (AP) — Technology company Hewlett Packard Enterprise won a multibillion-dollar lawsuit Friday against a British businessmen it accused of fraud after purchasing his software business Autonomy a decade ago. The decision by the U.K.’s High Court also removes a hurdle for the potential extradition to the U.S. of Autonomy’s founder, British entrepreneur Michael Lynch….
Federal safety regulators say they have cleared the way for Verizon and AT&T to power up more towers for new 5G service without causing radio interference with airplanes. The Federal Aviation Administration said Friday that it took the steps after receiving details from the telecommunications companies about the location of wireless transmitters. The FAA’s move…
HOUSTON (Reuters) – The United Steelworkers union (USW) rejected a pay increase offered by lead oil company negotiator Marathon Petroleum in talks for a agreement covering U.S. refinery workers, people familiar with the matter said on Friday. The offer was for a 4% pay increase over three years for 30,000 refinery and chemical plant workers…
By Herbert Lash NEW YORK (Reuters) -The dollar consolidated gains on Friday and posted its biggest weekly rise in seven months as markets priced in a year ahead of aggressive hikes in U.S. interest rates. Money markets priced in a 28.5-basis-point interest rate hike in March and as many as 119.5 basis points in cumulative…
By Swati Verma BENGALURU (Reuters) -Oil prices rose to a more than seven-year peak on Friday and recorded their sixth straight weekly gain as geopolitical turmoil exacerbated concerns over tight energy supply. On a weekly basis, the benchmark contracts notched their longest run of gains since October. Brent futures rose 69 cents to settle at…
By Agustin Geist, Nicolás Misculin and Adam Jourdan BUENOS AIRES (Reuters) -Argentina has struck an agreement in principle with the International Monetary Fund over a new $44.5 billion standby deal, both sides said on Friday, a major breakthrough in tense talks to restructure loans the country cannot repay. The South American country has been locked…
By Sabrina Valle HOUSTON (Reuters) -Chevron Corp on Friday reported a fourth quarter profit that missed Wall Street estimates and offered a weak outlook for this year’s oil and gas production, sending its shares lower. The first major oil company to report fourth quarter results posted earnings of $5.1 billion, or $2.65 a share. Analysts…
