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By Daphne Psaledakis, David Brunnstrom and Timothy Gardner WASHINGTON (Reuters) -The United States on Friday imposed extensive sanctions against Russia, targeting more than 500 people and entities to mark the second anniversary of Moscow’s invasion of Ukraine and retaliate for the death of Russian opposition leader Alexei Navalny. President Joe Biden said the measures aim…
(Reuters) -Warner Bros Discovery reported a bigger-than-expected quarterly loss on Friday, as the media conglomerate battled a weak advertising market and the fallout of the twin Hollywood strikes on content generation. Shares of the company, forged by the union of WarnerMedia and Discovery, tumbled nearly 12%, even as it beat Disney and Paramount to an…
(Reuters) -AngloGold Ashanti on Friday posted a 3% drop in 2023 output, weighed down by production slippages at key mines in Tanzania, Guinea and Ghana. Gold production for the year ended Dec. 31 fell to 2.593 million ounces from 2.672 million, it said in its full-year results, with the decline due mainly to lower ore…
By Divya Rajagopal and Seher Dareen (Reuters) -Newmont Corp intends to divest eight non-core assets and trim its workforce to cut debt following its $17.14 billion purchase of Newcrest, the world’s largest gold miner said on Thursday, as the company beat quarterly profit estimates. Still, shares fell 7% with analysts highlighting a big impairment charge…
By Patrick Wingrove and Leroy Leo (Reuters) -Moderna on Thursday reported a surprise fourth-quarter profit, helped by cost cutting and deferred payments, and set out a commercial roadmap for its vaccines in Europe and experimental respiratory syncytial virus (RSV) shot. Shares jumped 8% to $94.65 in early trading, still well off the record high of…
(Reuters) -Google is pausing its AI tool that creates images of people following inaccuracies in some historical depictions generated by the model, the latest hiccup in the Alphabet-owned company’s efforts to catch up with rivals OpenAI and Microsoft. Google started offering image generation through its Gemini AI models earlier this month, but over the past…
By Stephen Nellis and Max A. Cherney (Reuters) -Intel said on Wednesday that Microsoft plans to use its services to manufacture a custom computing chip and that the company expects to beat an internal deadline of 2025 to overtake its biggest rival, Taiwan Semiconductor Manufacturing Co, in advanced chip manufacturing. The American chipmaker also gave…
By Akash Sriram and Abhirup Roy (Reuters) -Rivian said on Wednesday it would cut its workforce by 10% and forecast EV production for this year that widely missed estimates, hurt by downtime for factory upgrades and slowing demand for electric vehicles due to high interest rates. Shares of the company tumbled about 16% in extended…
(Reuters) – Google said on Wednesday that some of its artificial intelligence tools that it offers to businesses will be powered by the company’s “Gemini” AI models and available at a lower-priced plan as it looks to compete with Microsoft-backed OpenAI. The Alphabet unit in August last year introduced “Duet AI in Workspace”, a set…
By Howard Schneider WASHINGTON (Reuters) – Inflation data in January, with consumer and wholesale prices rising faster than anticipated, complicate upcoming U.S. central bank interest rate decisions, Richmond Federal Reserve President Thomas Barkin said on Wednesday. The reports released last week “underline the challenge we have had in the recent data,” with a slowdown of…
