(Reuters) – Sonos Inc was set to shed more than a fifth of its market valuation on Thursday after a revenue forecast cut fueled worries that consumers were dialing down purchases of its premium speakers in a turbulent economy. The stock was down 21% in premarket trading, on course to erase nearly all of the…
By Alvise Armellini ROME (Reuters) – Italy’s competition watchdog AGCM is trying to close a legal loophole that has allowed several companies to evade antitrust fines and may help Amazon in an ongoing appeal, a legal expert and two sources told Reuters. The European Commission is closely following the matter, which has potential implications for…
By Ariba Shahid KARACHI, Pakistan (Reuters) -Point-of-sale transactions routed through Pakistan’s main digital payment systems fell by around 50% the day after former Prime Minister Imran Khan’s arrest ignited countrywide protests and prompted authorities to shut down mobile internet services, data showed on Thursday. The reason for the slump was primarily the mobile broadband suspension,…
By Foo Yun Chee, Martin Coulter and Supantha Mukherjee (Reuters) -European lawmakers came a step closer to passing new rules regulating artificial intelligence tools such as ChatGPT, following a crunch vote on Thursday where they agreed tougher draft legislation. The European Union’s highly anticipated AI Act looks set to be the world’s first comprehensive legislation…
By Abhirup Roy SAN FRANCISCO (Reuters) -Rivian Automotive Inc is betting it can keep prices high for its debut lines of electric pickup trucks and sport-utility vehicles even when competition swells, its CEO said, a bold move that may be necessary if the startup wants to make a profit. And one some see as risky,…
By Yimou Lee TAIPEI (Reuters) -Apple Inc supplier Foxconn on Thursday posted a 56% plunge in first-quarter net profit, lagging forecasts in its biggest quarterly fall in three years, and said visibility for the full year was “limited”. The Taiwanese company said net profit for the January-March quarter fell to T$12.8 billion ($417.17 million) from…
LONDON (Reuters) – Martin Sorrell’s S4 Capital said artificial intelligence (AI) was helping the advertising group to become more efficient and navigate pressure from clients seeking to cut costs. S4, founded by the ad boss after he left WPP, reiterated its full-year net revenue outlook after the first quarter, saying growth was driven by U.S….
By Sarah Wu TAIPEI (Reuters) – Taiwanese chipmaker TSMC said on Thursday that while war in Ukraine has impacted the company’s costs, customers need not worry about the impact being passed on in price hikes. “War happening in a far away place – the Ukraine war – has ripple effects that reach us,” said Taiwan…
BEIJING (Reuters) – China will resolutely object if the U.S. restricts its firms from investing in Chinese semiconductor industry, said Shu Jueting, a spokesperson at China’s commerce ministry on Thursday. Shu said at a news briefing that such U.S. behaviors will affect companies’ normal operation and damage the international economic and trade order. (Reporting by…
BERLIN (Reuters) – Deutsche Telekom slightly raised its full-year operating profit target on Thursday after reporting a small bump in first-quarter revenue and profit that was in line with expectations. The group now expects adjusted operating profit (EBITDA AL) to now reach 40.9 billion euros ($45.02 billion) in 2023, from previous guidance of 40.8 billion…
