U.S.-led coalition blocks attacks at Conoco oil field in Syria -source

BEIRUT (Reuters) -Air defence systems operated by U.S.-led coalition troops based in eastern Syria halted six drone attacks targeting their base at the Conoco oil field on Saturday, a security source said. The source did not tell Reuters if there were casualties. Coalition troops and the Kurdish-led Syrian Democratic Forces (SDF), who together fight remnants…

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Exclusive-Cisco to cut thousands of jobs as it seeks to focus on high growth areas -sources

By Utkarsh Shetti and Supantha Mukherjee (Reuters) -Network giant Cisco is planning to restructure its business which will include laying off thousands of employees, as it seeks to focus on high-growth areas, according to three sources familiar with the matter. The San Jose, California-based company has a total employee count of 84,900 as of fiscal…

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Exclusive-Nvidia pursues $30 billion custom chip opportunity with new unit -sources

By Max A. Cherney and Stephen Nellis SAN FRANCISCO (Reuters) -Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence (AI) processors, nine sources familiar with its plans told Reuters. The dominant global designer and supplier of AI chips aims to capture a…

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White House touts $11 billion US semiconductor R&D program

By David Shepardson WASHINGTON (Reuters) -The White House on Friday touted the U.S. government’s plan to spend $11 billion on semiconductor-related research and development and said it was launching the $5 billion National Semiconductor Technology Center. Congress in August 2022 approved the landmark Chips and Science Act. The law provides that $52.7 billion, including $39…

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NYCB gets third credit downgrade as CRE exposure worries spill to Europe

By Manya Saini and Niket Nishant (Reuters) -Embattled New York Community Bancorp faced its third credit-rating cut on Thursday while default worries from exposure to the beleaguered U.S. commercial real estate (CRE) took its toll on lenders in Europe and Asia. Morningstar DBRS on Thursday downgraded NYCB’s credit rating due to “outsized” exposure to CRE,…

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Disney’s investment in Epic Games signals the company has to ‘be there’

By Dawn Chmielewski (Reuters) -In 2017, Epic Games was among a handful of companies selected to participate in Walt Disney’s Accelerator incubator program, where the game company’s founder held ambitions of incorporating the entertainment giant’s well-known characters into his digital playground. Now, Disney is making a much bigger bet that will make this possible. Disney…

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