By Aditya Soni and Krystal Hu (Reuters) -Alphabet shares slumped on Wednesday after its cloud unit’s growth fell to near a three-year low, paling in comparison to Microsoft’s relative success as the tech giants race to make money from generative artificial intelligence. Shares of Alphabet fell 9.6% on Wednesday, compared with a healthy 2.8% gain…
By Bhanvi Satija (Reuters) -Thermo Fisher Scientific on Wednesday signaled that a slump in demand from biotechs for its services used in making therapies and vaccines could extend into the next year, sending its shares tumbling more than 7% and weighing on the sector. Biotechs, hit by a funding crunch due to higher interest rates,…
By David Shepardson and Joseph White (Reuters) -The United Auto Workers (UAW) union on Tuesday struck a General Motors assembly plant in Texas that builds the U.S. automaker’s profitable full-size sport utility vehicles in another significant expansion of the strike. By striking GM’s Arlington assembly plant, home to GM’s profitable Chevy Tahoe, Chevy Suburban, GMC…
By Dan Levine and Hyunjoo Jin (Reuters) – An attorney suing Tesla over a fatal accident cited an internal safety analysis conducted by the company that showed it knew about a steering malfunction in its Autopilot driver assistant feature about two years earlier. The disclosure came during closing arguments on Tuesday in a California state…
By Marc Jones LONDON (Reuters) -A milestone move by the European Central Bank toward launching a digital euro within a few years means the time has come for the newest incarnation of money to prove its worth. A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200…
By Nicole Jao and Seher Dareen (Reuters) -NextEra Energy expects financial results to be at least near the top of its earnings per share expectations for the next three years, CEO John Ketchum said during a call with analysts on Tuesday. The firm’s third-quarter profit beat Wall Street estimates on the back of higher retail…
By Sabrina Valle and Mrinalika Roy HOUSTON (Reuters) – Chevron has agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a stake in rival Exxon Mobil’s massive Guyana discoveries, the latest in a series of blockbuster U.S. oil combinations. The Chevron deal announced on Monday and a…
By Stephen Nellis and Max A. Cherney (Reuters) -Nvidia dominates the market for artificial intelligence computing chips. Now it is coming after Intel’s longtime stronghold of personal computers. Nvidia has quietly begun designing central processing units (CPUs) that would run Microsoft’s Windows operating system and use technology from Arm Holdings, two people familiar with the…
By Hannah Lang and Kanjyik Ghosh (Reuters) – Bitcoin soared 10% to 1-1/2 year highs on Monday, and crypto-linked stocks followed it higher as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to quit positions. The world’s biggest cryptocurrency was last at $32,833 after trading as…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar fell against a basket of currencies on Monday, tracking a retreat in U.S. Treasury yields from the 5% level hit earlier in the session, and as traders awaited fresh U.S. economic data due later this week. The yield on the benchmark 10-year U.S. Treasury note…
