By Rocky Swift TOKYO (Reuters) – The Japanese operator of apparel retailer Uniqlo is expected by analysts to post a 25% jump in profit to a third-quarter record on Thursday, when the focus will be on whether its sales recovery in China is on track. Fast Retailing’s operating profit in the three months through May…
By Manoj Kumar and Jatindra Dash and Sumit Khanna BHUBANESWAR, India (Reuters) – The world’s major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations have rushed…
By Nupur Anand (Reuters) – JPMorgan Chase plans to lay off 63 employees in Jersey City, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) issued on Tuesday. The job cuts will take place in September, according to the notice. The total workforce of JPMorgan, the largest U.S. lender, stood at 296,877 at…
By Jeffrey Dastin AUSTIN (Reuters) – A key way that Amazon’s cloud division aims to set itself apart from rivals perceived to have a leg up on artificial intelligence is by competing on price, an executive said on Tuesday. The AI models behind a viral chatbot like ChatGPT require immense computing power to train and…
By Arshad Mohammed (Reuters) – A senior U.S. Republican lawmaker criticized as “absolutely unacceptable” a State Department response on Tuesday to his inquiry about why the U.S. special envoy for Iran’s security clearance was under review. Michael McCaul, chairman of the House of Representatives committee on foreign affairs, wrote to Secretary of State Antony Blinken…
(Reuters) – Money market funds are set for a reprieve on “swing pricing” when Wall Street’s top regulator votes on Wednesday to help control systemic risk in the money market and large liquidity fund sectors, Bloomberg News reported on Tuesday. Swing pricing involves adjusting a fund’s value in line with trading activity so that redeeming…
By David Shepardson WASHINGTON (Reuters) – United Airlines Chief Executive Scott Kirby met on Tuesday with the acting head of the Federal Aviation Administration (FAA), officials told Reuters, after he blasted its air traffic control performance last month. Kirby in a June 26 in a memo to employees expressed frustration “the FAA frankly failed us…
By Stephen Nellis SAN FRANCISCO (Reuters) – International Business Machines (IBM) is considering the use of artificial intelligence chips that it designed in-house to lower the costs of operating a cloud computing service it made widely available this week, an executive said Tuesday. In an interview with Reuters at a semiconductor conference in San Francisco,…
By Richard Cowan and Moira Warburton WASHINGTON (Reuters) -Republican U.S. Senator Tommy Tuberville on Tuesday said white nationalists are racist after having denied that earlier in the day, an incident that drew criticism from the chamber’s top Democrat, Majority Leader Chuck Schumer. “White nationalists are racist,” Tuberville, a first-term senator and former college football coach,…
By Phil Stewart and Patricia Zengerle WASHINGTON (Reuters) -President Joe Biden’s nominee to become the top U.S. general warned on Tuesday that a Republican senator’s blockade of military promotions could have a far-reaching impact across the U.S. armed forces, affecting troops and their families. “We will lose talent,” General Charles “CQ” Brown, the outgoing Air…
