MENLO PARK, Calif. (AP) — Facebook’s parent company Meta on Monday said it has created what it believes is among the fastest artificial intelligence supercomputers running today. The social media giant said it hopes the machine will help lay the groundwork for its building of the metaverse, a virtual reality construct intended to supplant the…
(Reuters) – IBM beat fourth-quarter revenue expectations on Monday, bolstered by its cloud and consulting businesses as more enterprises turned to the IT giant to digitize operations. Revenue at the consulting business, a segment where IBM competes with Accenture Plc and SAP, rose 13.1% to $4.75 billion. The 110-year-old company has doubled down on the…
(Refiles to insert Global Markets tag in headline) By Pete Schroeder WASHINGTON (Reuters) – The selloff on Wall Street worsened Monday and oil prices turned lower as rising geopolitical tensions and the Fed’s plans to reduce economic stimulus took their toll on investors. Jitters over the prospect of a Russian attack on Ukraine and anticipated…
By Nivedita Balu (Reuters) -Shopify Inc said on Monday proposed changes to its fulfillment network would help merchants on its ecommerce platform compete better with big retailers and would not reduce capacity, fueling a sharp recovery in its shares. Shares of the Canadian company rose as much as 9.6% in afternoon trading following the statement….
By Jonathan Stempel NEW YORK (Reuters) – Tesla Inc on Monday fought back against JPMorgan Chase & Co over a disputed bond contract, countersuing the bank for seeking a “windfall” following Elon Musk’s notorious 2018 tweet that he might take his electric car company private. In a filing in Manhattan federal court, Tesla accused JPMorgan…
By Nivedita Balu (Reuters) -Canadian e-commerce giant Shopify Inc said on Monday proposed changes to its fulfillment network would not reduce capacity to meet the needs of its customers, helping shares reverse course to trade up 7%. Shares plunged nearly 9% earlier in the session to an 18-month low, weighed down by a global tech…
WASHINGTON (AP) — The District of Columbia and three states are suing Google for allegedly deceiving consumers and invading their privacy by making it nearly impossible for them to stop their location from being tracked. In the lawsuit filed Monday in a District of Columbia court, D.C. Attorney General Karl Racine alleges Google has “systematically”…
By David Gaffen NEW YORK (Reuters) – Oil prices fell about 2% on Monday, hit by investor concerns over the possibility of quicker than expected interest-rate hikes by the U.S. Federal Reserve that took down risk markets such as equities while the dollar rallied. Wall Street stocks slumped, after last week posting their worst week…
ROME (AP) — A first round of voting in Italy’s Parliament for the country’s next president yielded an avalanche of blank ballots Monday, as lawmakers and special regional electors failed to deliver a winner amid a political stalemate. With special pandemic precautions, balloting began even as party leaders huddled during a flurry of backroom meetings…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Traders in the options market showed little appetite to bet on an end to the continuing stock market sell-off on Monday, as Wall Street’s most followed gauge of equity market fear soared to its highest level in more than a year. The Cboe Volatility – the Wall…
