By Caroline Valetkevitch NEW YORK (Reuters) – The estimated decline in first-quarter S&P 500 earnings is getting smaller as more companies report results, Refinitiv data showed Wednesday, with a host of big names including Microsoft Corp reporting upbeat numbers this week. Analysts now expect first-quarter earnings to have fallen 3.2% year-over-year for S&P 500 companies….
WASHINGTON (Reuters) – South Korea and the U.S. agreed to boost economic partnerships in critical technology industries such as microchips, electric vehicles and batteries, said South Korean President Yoon Suk Yeol. (Reporting By Trevor Hunnicutt and Jarrett Renshaw; Editing by Chris Reese)
WASHINGTON (Reuters) – The U.S. Department of Transportation (DOT) on Wednesday said a Republican budget cut proposal would shut down 375 federally-staffed and contract-run air traffic control towers around the country and result in 7,500 fewer rail safety inspection days. Overall, it said the Republican plan, which would sharply reduce budget spending in exchange for…
By Chibuike Oguh NEW YORK (Reuters) – Shares of Chipotle Mexican Grill Inc soared to a record high on Wednesday after the burrito chain beat analysts’ estimates for first-quarter profit and sales. Chipotle said its revenue rose 17% year-on-year to $2.4 billion, driven by higher restaurant sales, 41 new store openings, and increased demand from…
(Reuters) – Media company Fox Corp on Wednesday said it would house its standalone digital businesses under a new unit, Tubi Media Group, along with its news, sports and entertainment digital platforms. Fox’s standalone digital businesses include free, ad-supported streaming platform Tubi, which Fox acquired in 2020; Tubi founder Farhad Massoudi will now step down as…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) -U.S. Supreme Court justices on Wednesday appeared sympathetic toward a 94-year-old woman in her battle with a Minnesota county government that sold her condominium to cover her unpaid taxes and kept the proceeds beyond the sum she owed in a case testing constitutional checks on excessive fines…
By Tatiana Bautzer DALLAS (Reuters) -A Goldman Sachs Group Inc shareholder criticized its Chairman and CEO David Solomon on Wednesday at the bank’s annual meeting and proposed its board appoint an independent chairman. The proposal, along with eight others put forward by shareholders, failed after receiving the support of 16% of stock holders who voted….
By Anna Tong, Alexandra Ulmer and Jeffrey Dastin SAN FRANCISCO (Reuters) – Tech billionaire and Republican megadonor Peter Thiel, an early backer of former President Donald Trump who later broke with him, has told associates he is not planning to donate to any political candidates in 2024, according to two people close to the businessman….
By David Shepardson WASHINGTON (Reuters) -The chair of the Senate Intelligence Committee on Wednesday urged CEOs of several artificial intelligence (AI) companies to prioritize security measures, combat bias, and responsibly roll out new technologies. Democratic Senator Mark Warner raised concerns about potential risks posed by AI technology. “Beyond industry commitments, however, it is also clear…
By Leah Douglas WASHINGTON (Reuters) – The Biden administration said on Wednesday the plan from U.S. Republican lawmakers to cut federal spending for a decade in exchange for raising the debt ceiling would cost rural communities thousands of jobs and billions of dollars. The House of Representatives could vote as soon as Wednesday on the…
