By Chavi Mehta (Reuters) -Texas Instruments forecast second-quarter revenue and profit below Wall Street estimates on Tuesday, signaling demand weakness is spreading to most of the analog chipmaker’s end-markets. A chip supply glut, which started from the consumer electronics market, has seeped into broader markets like enterprise and industrial as rising interest rates saps spending…
(Reuters) – NetJets, the luxury plane unit of billionaire Warren Buffett’s Berkshire Hathaway Inc, has been sued by its 3,000-member pilots union for allegedly interfering with its communications with aircraft owners and customers about contract negotiations. In a lawsuit filed on Monday, the NetJets Association of Shared Aircraft Pilots objected to a March 8 email…
By Niket Nishant and Hannah Lang (Reuters) -Binance.US has called off its $1.3 billion deal to buy assets of bankrupt crypto lender Voyager Digital, citing a “hostile and uncertain regulatory climate.” In a court filing on Tuesday, lawyers for Voyager said the company reserves all rights with respect to a $10 million good-faith deposit paid…
By Lisa Pauline Mattackal (Reuters) – What do you get when you cross cryptocurrencies with artificial intelligence? A seemingly sentient bitcoin that codes itself in the style of Japanese haikus? Alas not, though you do get billions of dollars of trading in a new class of crypto tokens. The machine mania sweeping the tech world…
By Huw Jones LONDON (Reuters) -Anonymity is allowing crypto assets to finance illegal activities, a top U.S. regulatory official said on Tuesday, posing national security risks that must be addressed. Christy Goldsmith Romero, a commissioner at the U.S. Commodity Futures Trading Commission, said cryptocurrencies were being used to finance cybercrime with victimes including individuals, companies,…
MEXICO CITY (Reuters) – Mexican airline Volaris expects to operate under the U.S. Category 1 aviation safety rating in the fourth quarter, which would allow the carrier to add global flights as demand grows, CEO Enrique Beltranena said on Tuesday. He expects Mexico to regain the rating in a few months, Beltranena told analysts on…
By Doyinsola Oladipo NEW YORK (Reuters) -Major global consumer-facing companies like McDonald’s, General Motors and Nestle posted steady first-quarter results built on higher prices, showing how consumers across major economies are still spending despite slowed economic activity. Shoppers have absorbed price increases for soda, appliances and other goods, bolstering company profits. However, sales volumes declined…
WASHINGTON (Reuters) – Sales of new U.S. single-family homes jumped to a one-year high in March, likely as a retreat in mortgage rates boosted demand. New home sales surged 9.6% to a seasonally adjusted annual rate of 683,000 units last month, the highest level since March 2022, the Commerce Department said on Tuesday. February’s sales…
By Richa Naidu LONDON (Reuters) – Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee and Maggi stock cubes, said sales rose 5.6% to 23.5 billion Swiss francs ($26.48 billion) in the…
(Reuters) -Biogen Inc said on Tuesday it would pause or discontinue studies of some experimental drugs and therapies and focus on more promising treatments, in the latest attempt by the new chief to cut costs. CEO Christopher Viehbacher has been looking for ways to keep costs in check as it prepares to increase marketing efforts…
