By Blake Brittain (Reuters) – VMware Inc must pay $84.5 million for infringing two patents belonging to rival software company Densify, a Delaware federal jury said on Monday. The verdict, made public Tuesday, said VMware willfully violated Densify’s patent rights with its software for optimizing “virtual machines” used in cloud computing. A VMware spokesperson declined…
By Yuvraj Malik (Reuters) -Uber Technologies Inc forecast quarterly core earnings above estimates on Tuesday, after a surge in demand for travel and food delivery helped the U.S. ride-sharing giant report better-than-expected results for the January-March period. Shares of the company rose 7% and helped drive small gains in those of rival Lyft Inc, which…
By Mayela Armas CARACAS (Reuters) – Some of U.S. oil major Chevron Corp’s export earnings from its Venezuela operations are bolstering supplies of U.S. dollars in the South American country, three sources with knowledge of the matter told Reuters. Chevron operates in Venezuela, which is under U.S. sanctions, with special authorization from Washington. It received…
By Arunima Kumar (Reuters) -Marathon Petroleum Corp said on Tuesday it expects strong margins throughout 2023 as demand grows while supply constraints persist, after the top U.S. refiner beat Wall Street estimates for quarterly profit. Closure of facilities during the pandemic and demand recovery have lifted refiners’ margins, further bolstered by tight crude supplies following…
By Howard Schneider FARIBAULT, Minnesota (Reuters) – Demand for Daikin Applied Americas Inc’s climate control equipment is soaring, and worker recruitment is in hyperdrive, with hiring trips to women’s shelters and immigrant support groups and an open door for applicants with no high school degree or manufacturing experience. For Minnesota’s healthcare industry, an estimated 5,000…
By Nick Carey BRIXWORTH, England (Reuters) – Mercedes-Benz has plugged its Formula One team into the engineering process to build vastly more efficient mass-market electric vehicles (EVs), slashing development times by a quarter or more as it jump starts efforts to keep pace with Tesla. F1 technology has always eventually bled over into mass-market vehicles….
By Michael S. Derby (Reuters) – For all the assertions that the pandemic and the inflation surge that followed it have put an end to the low-interest-rate era, key officials at the Federal Reserve and elsewhere still see a return to that world as a likely outcome down the road. The Fed is nearing the…
(Reuters) – The New York Stock Exchange said on Tuesday it will delist shares of First Republic Bank, the lender that was seized by regulators before JPMorgan Chase & Co acquired most of its assets. Apart from the company’s common stock, seven different types of its preferred stock will also be delisted. Trading in all…
DUBLIN (Reuters) – AerCap expects to deliver full-year earnings at the higher end of its guidance as a broadening travel recovery and shortage of new aircraft boosts demand for plane leases and sales, the world’s largest aircraft lessor said on Tuesday. Chief Executive Officer Aengus Kelly said first quarter demand, in particular for engine leases…
WASHINGTON (Reuters) – New orders for U.S.-made goods rebounded in March, boosted by a jump in civilian aircraft bookings, but the overall manufacturing industry continued to struggle under the weight of higher interest rates. Factory orders increased 0.9% after decreasing 1.1% in February, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast…
