By Brad Brooks (Reuters) -The president of Stanford University, one of the most prestigious U.S. schools, announced plans on Wednesday to resign his post after an independent review ordered by its board of trustees found flaws in his research as a neuroscientist. Marc Tessier-Lavigne said in a letter to the university community that he would…
By Chavi Mehta (Reuters) – Enterprise software provider IBM’s second-quarter revenue fell short of Wall Street expectations on Wednesday, bogged down by a decline in sales of its mainframe computers as businesses cut tech spending. IT companies have warned of more pain as businesses striving to cut costs in the face of rising inflation snip…
WASHINGTON (Reuters) -Microsoft, which is seeking to wrap up its acquisition of game-maker Activision Blizzard, urged the U.S. Federal Trade Commission to withdraw a case against the deal that the agency had brought before an internal FTC judge, according to a motion posted to the FTC’s website on Wednesday. Microsoft and Activision on Wednesday extended…
By Hongji Kim and Phil Stewart PAJU, South Korea/WASHINGTON (Reuters) -U.S. officials scrambled on Wednesday to determine the fate of an American soldier who made an unauthorized crossing into North Korea, handing Washington a new crisis in its dealings with the nuclear-armed state. State Department spokesperson Matthew Miller told a regular briefing the Pentagon had…
By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Wednesday lifted its full-year profit outlook after posting the highest ever quarterly earnings on booming demand for international travel. Its shares rose 2.4% in extended trading. Ticket sales at U.S. carriers are soaring despite rising living costs as consumers cut spending on goods in favor…
By Pete Schroeder and Chris Prentice WASHINGTON (Reuters) -The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186 million for failing to sufficiently address money laundering control problems and other shortcomings previously flagged by the U.S. central bank. The new penalty for lingering issues marks the latest blow for the…
By Crispian Balmer and Ryan Woo ROME/BEIJING (Reuters) – Italy put 23 cities on red alert as it reckoned with another day of scorching temperatures on Wednesday, with no sign of relief from the wave of extreme heat, wildfires and flooding that has wreaked havoc from the United States to China. The heat wave has…
By Luc Cohen MADRID/NEW YORK (Reuters) -The former head of Venezuela’s military intelligence, Hugo Carvajal, arrived in the United States on Wednesday to face drug trafficking charge after being extradited from Spain, his lawyer said. Carvajal is expected to make an initial appearance in Manhattan federal court on Thursday morning, said his lawyer, Zachary Margulis-Ohnuma….
By Herbert Lash NEW YORK (Reuters) -Global stocks rose and the dollar strengthened on Wednesday after a surprise cooling of British inflation bolstered the risk-off mood across markets that anticipates the Federal Reserve next week will hike interest rates for the last time. The dollar bounced after sentiment was boosted by inflation in the United…
By David Shepardson WASHINGTON (Reuters) -U.S. lawmakers will look to jump start long-stalled legislation on the safe and regulated adoption of self-driving cars at a congressional hearing on July 26. The panel will consider separate draft legislation from Representative Bob Latta, a Republican, and Representative Debbie Dingell, a Democrat. Legislation in Congress has been stalled…
