By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to seven-week peaks on Thursday as another round of solid economic data further pared back bets on easing by the Federal Reserve, with the greenback also boosted by expectations of a U.S. debt ceiling deal to a avert potential default. The dollar index, a measure…
By Katie Paul and Stephen Nellis NEW YORK (Reuters) -Meta Platforms on Thursday shared new details on its data center projects to better support artificial intelligence work, including a custom chip “family” being developed in-house. The Facebook and Instagram owner said in a series of blog posts that it designed a first-generation chip in 2020…
By Jonathan Stempel and Luc Cohen NEW YORK (Reuters) -The young entrepreneur Charlie Javice has been indicted on charges of defrauding JPMorgan Chase & Co, the largest U.S. bank, into buying her now-shuttered college financial aid startup Frank. A four-count grand jury indictment made public on Thursday in Manhattan federal court charges Javice with securities…
By Timothy Aeppel CHICAGO (Reuters) -For Matthew Prange, it’s easy to see why the inflation surge of the last two years has proven so difficult for the Federal Reserve to tame. “When prices go up, it tends to stick,” said Prange, who oversees $3 billion worth of purchases of electronic parts, plastics, and metal as…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in U.S. Bankruptcy Court in Delaware targeting…
By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 1% on Thursday after solid U.S. economic data spurred the dollar to reach a two-month high on growing expectations the U.S. Federal Reserve could raise interest rates again in June. Brent futures fell $1.10, or 1.4%, to settle at $75.86 a barrel. U.S. West Texas…
WASHINGTON (Reuters) -The U.S. Air Force intends to award a contract in 2024 for its sixth-generation fighter jet as it races to retain its edge against rapid advances in Chinese military technology, the service said on Thursday. Lockheed Martin Corp, Boeing Co and Northrop Grumman Corp are expected to compete for the Next Generation Air…
(Reuters) – U.S. inflation does not look like it is cooling fast enough to allow the Federal Reserve to hit pause on the interest-rate hike campaign it began more than a year ago, two Fed policymakers said on Thursday. The remarks, from Dallas Federal Reserve Bank President Lorie Logan and St. Louis Fed President James…
(Reuters) – The U.S. Consumer Product Safety Commission (CPSC) on Thursday approved a repair for a rear guard of Peloton Interactive Inc’s recalled ‘Tread+’ treadmill. The fitness equipment maker had announced a costly recall of its ‘Tread+’ treadmill in 2021 following the reports of multiple injuries and the death of a child in an accident….
KHARTOUM (Reuters) -Heavy air strikes pounded southern areas of Sudan’s capital on Thursday as clashes flared near a military camp, witnesses said, in fighting that has displaced nearly 1 million people and left residents of Khartoum struggling to survive. Air strikes by the army targeting the paramilitary Rapid Support Forces (RSF) were heard across several…
