(Reuters) -The U.S. Federal Trade Commission (FTC) is finalizing its long-awaited antitrust lawsuit against Amazon in a move that could ultimately break up parts of the company, Politico reported on Tuesday. The wide-ranging lawsuit is expected as soon as August and will likely challenge a host of Amazon’s business practices, the report said, citing people…
By Carolina Mandl and Bansari Mayur Kamdar (Reuters) – The tech-heavy Nasdaq closed higher on Tuesday, leading gains on Wall Street amid investor excitement about artificial intelligence before earnings reports from megacap technology companies Alphabet and Microsoft after the bell. Both Microsoft and Alphabet have launched an array of AI products since OpenAI, backed by…
By Phil Stewart WASHINGTON (Reuters) – A U.S. federal judge on Tuesday voided a 2017 court-martial conviction against Bowe Bergdahl, an Army sergeant who walked off his post in 2009 only to be captured by the Taliban and spend five years as their prisoner. Bergdahl’s conviction in 2017 left him with a dishonorable discharge, reduction…
TOKYO (Reuters) – Japan’s business-to-business service inflation slowed in June, data showed on Wednesday, suggesting that companies remained slow in passing on rising labour costs despite a tight job market. The services produce price index, which measures the prices companies charge each other for services, rose 1.2% in June from a year earlier, Bank of…
By Niket Nishant, Nupur Anand and David French (Reuters) – Banc of California and PacWest Bancorp will merge in an all-stock deal to create a bank with $36 billion in assets, the companies said on Tuesday, coming together just months after the regional banking sector was mired in crisis. To help fund the combination, the…
By Yuvraj Malik and Stephen Nellis (Reuters) -Microsoft on Tuesday laid out an aggressive spending plan to meet demand for its new artificial intelligence services after surpassing Wall Street estimates for fiscal fourth-quarter revenue and profit. Costs rose sharply as Microsoft built new data centers to support AI, and Chief Financial Officer Amy Hood said…
By Patricia Zengerle WASHINGTON (Reuters) – The U.S. Senate overwhelmingly backed legislation on Tuesday that would require U.S. companies to notify federal agencies of investments in Chinese technologies such as semiconductors and artificial intelligence. The 100-member Senate backed the amendment to the National Defense Authorization Act (NDAA) by 91 to 6. The NDAA sets policy…
By David Morgan WASHINGTON (Reuters) – The top Republican in the U.S. Congress said on Tuesday that he could launch an impeachment inquiry into Democratic President Joe Biden, if the administration fails to provide information sought by committees investigating the president and his family. Three committees in the Republican-controlled House of Representatives are investigating unproven…
WASHINGTON (Reuters) – Members of the U.S. Congress, the president, vice president and senior executive branch officials and their relatives will be banned from trading stocks under bipartisan legislation introduced on Tuesday. Democratic Senator Kirsten Gillibrand said in a brief hallway interview that she and Republican Senator Josh Hawley formally offered the “Ban Stock Trading…
By Luc Cohen NEW YORK (Reuters) – The New York Federal Reserve was sued on Tuesday by a Puerto Rican bank that said its access to the U.S. central banking system could be improperly cut off following a federal crackdown on banks with links to Venezuela. Banco San Juan Internacional (BSJI) said in a complaint…
