(Reuters) – A new 300-megawatt (MW) Con Edison Rainey-to-Corona transmission line, which can power 240,000 average-sized homes in New York City’s Queens borough, has been energized, New York Governor Kathy Hochul said on Wednesday. The six-mile-long (10 km-long) line is part of the Reliable Clean City projects that will add 900 MW of transmission capacity…
By Stephen Nellis, Josh Ye and Jane Lanhee Lee (Reuters) -U.S. microchip export controls imposed last year to freeze China’s development of supercomputers used to develop nuclear weapons and artificial-intelligence systems like ChatGPT are having only minimal effects on China’s tech sector. The rules restricted shipments of Nvidia Corp and Advanced Micro Devices Inc chips…
(Reuters) – TikTok said on Wednesday it is launching a product that well let advertisers place ads alongside content produced by premium publishers, half of the ad revenue from which will be shared with those publishers. The social media platform said brands including Buzzfeed, DotDash Meredith, NBCUniversal, UFC and WWE will be the first to…
(Reuters) -Homecare services provider Option Care Health Inc said on Wednesday it is acquiring Amedisys Inc in an all-stock deal valued at $3.6 billion, including debt. The deal will enable Option Care, an infusion service provider at home or alternate sites, to expand its services. Option Care valued Amedisys at $97.38 per share, a nearly…
By David Shepardson and Joseph White WASHINGTON (Reuters) -Ford CEO Jim Farley said on Wednesday that price cuts in the electric vehicle market were “a worrying trend” after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla. Ford on Tuesday announced a price cut of…
By Ivana Sekularac and Aleksandar Vasovic BELGRADE (Reuters) -A 13-year-old boy gunned down eight fellow pupils and a security guard in a Belgrade school on Wednesday in a planned attack, prompting Serbia’s president to announce tougher curbs on gun ownership. Using two handguns that belonged to his father, the boy fired first at the guard…
(Corrects firm name to RBC Wealth Management from RBC Portfolio Advisory Group in paragraph 5) By Sinéad Carew NEW YORK (Reuters) – MSCI’s gauge of stock markets around the world was advancing but trading was choppy on Wednesday while U.S. Treasury yields and the U.S. dollar steepened declines after the U.S. Federal Reserve raised interest…
By Ernest Scheyder (Reuters) -Lithium producer Albemarle Corp cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. Shares of the Charlotte, North Carolina-based company fell 4.5% to $165.19 in after-hours trading. Concern has grown across the lithium industry this…
WASHINGTON (Reuters) – The Federal Trade Commission’s chief said the agency was committed to using existing laws to rein in some of the dangers of artificial intelligence, such as enhancing the power of dominant firms and “turbocharging” fraud. “Although these (AI) tools are novel, they are not exempt from existing rules, and the FTC will…
By Valerie Insinna and Abhijith Ganapavaram WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. The company announced…
