By Aditya Soni (Reuters) -Nvidia Corp surged 24% on Thursday in one of the largest one-day gains in value for a U.S. stock, after its stellar revenue forecast showed that Wall Street has yet to price in the game-changing potential of AI. The surge more than doubled the stock’s value for this year and increased…
By Sinéad Carew and Stephen Nellis NEW YORK/SAN FRANCISCO (Reuters) – The Philadelphia semiconductor index hit its highest level in more than a year on Thursday and eyed its biggest one-day percentage gain in six months with artificial intelligence (AI) taking center stage after Nvidia Corp wowed investors with financial targets that blew past analyst…
By David Lawder and Liz Lee DETROIT/BEIJING (Reuters) -U.S. Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao traded barbs on trade, investment and export policies in talks on Thursday described by Raimondo’s office as “candid and substantive.” Their meeting in Washington was the first U.S.-China cabinet-level exchange in months, after a string of…
NEW YORK (Reuters) – The New York City Banking Commission voted to halt deposits into the city’s bank accounts at Capital One and KeyBank after the lenders failed to submit plans on their efforts to root out discrimination. City Comptroller Brad Lander joined Mayor Eric Adams and the department of finance to announce the city…
By Nupur Anand (Reuters) -JPMorgan Chase & Co has notified nearly 1,000 First Republic Bank employees that they will no longer have a job as it integrates the failed lender it bought earlier this month, a person familiar with the matter told Reuters on Thursday. JPMorgan, the largest U.S. bank, has offered employment to about…
By Blake Brittain (Reuters) – Motif Foodworks told a Delaware federal court that plant-based meat rival Impossible Foods improperly hired private investigators who donned fake identities to solicit information about Motif’s products during their patent dispute. In documents unsealed on Tuesday, Motif said investigators who falsely claimed to represent potential partners started approaching them to…
By James Oliphant and Doina Chiacu WASHINGTON (Reuters) -Florida Governor Ron DeSantis’ fledgling presidential campaign was looking to push forward on Thursday after a troubled online launch event drew mockery from his rivals and renewed doubts about his viability as a national candidate. DeSantis plans to barnstorm the early nominating states of Iowa, New Hampshire…
(Reuters) – U.S. Commerce Secretary Gina Raimondo raised concerns about Chinese actions against U.S. firms operating in China with Chinese Minister of Commerce Wang Wentao during a meeting on Thursday in Washington, according to a U.S. readout. “The two had candid and substantive discussions on issues relating to the U.S.-China commercial relationship, including the overall…
(Reuters) – Fitch has placed the ratings of U.S. mortgage finance giants Fannie Mae and Freddie Mac on watch for a possible downgrade as U.S. lawmakers’ negotiations to raise the government’s debt ceiling dragged on without a resolution. This comes after the ratings agency on Wednesday had warned that the U.S. credit rating could be…
(Reuters) -The U.S. on Thursday held its first sale of oil and gas drilling rights on federal lands since passage of President Joe Biden’s landmark climate change law, attracting more than $78 million in high bids for leases in New Mexico and Kansas. The federal auction was just the second to be held in New…
