By Mehnaz Yasmin (Reuters) -Mastercard reported first-quarter profit that exceeded Wall Street expectations on Wednesday, on higher card spending by consumers despite rising borrowing costs and persistent inflation. Wage growth and a tight labor market have ensured job security for card users, allowing them to spend without restraint even as the Federal Reserve keeps monetary…
By Jonathan Stempel and Blake Brittain (Reuters) -A federal appeals court on Tuesday overturned a judgment requiring IBM to pay rival BMC Software $1.6 billion, after a judge found IBM improperly replaced BMC’s mainframe software at AT&T with its own. The 5th U.S. Circuit Court of Appeals in New Orleans said a lower court judge’s…
By Akash Sriram and Stephen Nellis (Reuters) -Artificial intelligence server maker Super Micro Computer reported third-quarter revenue below estimates on Tuesday, hurt by a shortage of some crucial components and questions over the profitability of a new line of servers. Shares of Super Micro, which have more than tripled in value so far this year,…
By Summer Zhen and Samuel Shen HONG KONG (Reuters) -Six spot bitcoin and ether exchange traded funds (ETFs) gained in their Hong Kong debut on Tuesday, with the three bitcoin ETFs climbing more than 2% by midday, reflecting Asian investor enthusiasm for cryptocurrency assets. The debuts mark the first launch of spot cryptocurrency ETFs in…
By Jarrett Renshaw NEW YORK (Reuters) -U.S. President Joe Biden said on Friday that he would participate in a debate with Donald Trump, his Republican opponent in November’s election. “I am, somewhere. I don’t know when,” the Democratic president said in an interview with broadcaster Howard Stern. “I’m happy to debate him.” The remarks were…
By Stephen Nellis (Reuters) – U.S. export controls on sending advanced computing chips to China are not meant to hold back China’s economy or technological development, Secretary of State Antony Blinken said during an interview with National Public Radio on Friday. Since 2022, U.S. officials have imposed sweeping controls on which computing chips can be…
(Reuters) -The U.S. Air Force said on Friday that it has awarded a $13 billion contract to Sierra Nevada Corp to develop a successor to the E-4B, known as the Doomsday plane due to its ability to survive a nuclear war. The Survivable Airborne Operations Center (SAOC) project is intended to replace the aging 1970s-era…
By Sabrina Valle HOUSTON (Reuters) -U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the…
By Jonathan Stempel (Reuters) – A real estate brokerage owned by Warren Buffett’s Berkshire Hathaway said on Friday it reached a $250 million settlement of nationwide antitrust litigation that is expected to change how real estate agents are paid. HomeServices of America, the largest U.S. real estate brokerage, was the last remaining defendant in a…
By Yuvraj Malik, Anna Tong and Stephen Nellis (Reuters) -Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence across its cloud services, and the company’s shares jumped more than 4% in extended trade. Executives forecast ranges for current quarter cloud revenue that were mostly…