By Dawn Chmielewski (Reuters) -Walt Disney responded on Monday to billionaire Nelson Peltz and his Trian Fund’s campaign to win two board seats with an attack on the activist shareholder’s motivations and qualifications in an increasingly bare-knuckled proxy battle. In a 66-page regulatory filing late Monday, Disney said Peltz and Trian’s other designated board candidate,…
By Simon Lewis and Humeyra Pamuk WASHINGTON (Reuters) – The United States must employ “all the tools at our disposal” to outcompete China, a top U.S. State Department official said on Monday, as the Biden administration unveiled its budget request for the 2025 fiscal year. The request includes $4 billion over five years in mandatory…
By Mike Stone WASHINGTON (Reuters) – Castelion, a startup trying to build a hypersonic weapon for the Pentagon, tested its system for the first time, it told Reuters on Monday, as a growing group of small hypersonic arms makers challenge large defense contractors with less expensive, rapidly produced products. The United States and China are…
By Jonathan Stempel (Reuters) – Nvidia, whose chips power artificial intelligence, has been sued by three authors who said it used their copyrighted books without permission to train its NeMo AI platform. Brian Keene, Abdi Nazemian and Stewart O’Nan said their works were part of a dataset of about 196,640 books that helped train NeMo…
(Reuters) -Alaska Airlines said on Saturday it is cooperating with the U.S. Department of Justice after a criminal investigation was opened into the Boeing 737 MAX blowout on its flight in January. “In an event like this, it’s normal for the DOJ to be conducting an investigation. We are fully cooperating and do not believe…
By Yousef Saba and Maha El Dahan DUBAI (Reuters) -Saudi Arabia’s state-owned oil giant Aramco boosted its dividend despite net profit falling 24.7% to $121.3 billion in 2023 on lower oil prices and volumes, showing the state’s continued reliance on oil revenue as it seeks to diversify. The profit, down from $161.1 billion in 2022,…
WASHINGTON (Reuters) – President Joe Biden’s re-election campaign said on Sunday it raised $10 million in the 24 hours following a fiery State of the Union address, where he accused Donald Trump of threatening democracy and torpedoing a bill to tackle U.S. immigration woes. In a 68-minute address to Congress on Thursday, Biden also charged…
By Ann Saphir and Howard Schneider (Reuters) -Federal Reserve policymakers weighing when to start interest-rate cuts got fresh reasons on Friday to remain on standby, after a government report showed robust job growth in February but also signs of labor market cooling that could help the Fed’s battle with inflation. U.S. employers added 275,000 jobs…
By David Shepardson and Nandita Bose WASHINGTON (Reuters) -President Joe Biden said on Friday he would sign legislation that gives China’s ByteDance about six months to divest the popular TikTok short video app as his rival Donald Trump raised concerns about a ban of the service used by 170 million Americans. The U.S. House of…
By Ananya Mariam Rajesh (Reuters) -Costco’s shares closed down 7.6% on Friday for its worst day since May 2022 after the membership-only retail chain missed second-quarter revenue expectations and signaled a negative impact from lower gasoline prices. Still, at least seven brokerages raised their price target on Costco, with Jefferies raising the most to $905…
