(Reuters) – Amazon.com is imposing severe price caps on what merchants can charge for their products on a new low-cost storefront that the e-commerce giant is preparing to launch, the Information reported on Tuesday. The company’s price limits include $8 for jewelry, $13 for guitars and $20 for sofas, according to the report, which cited…
By Nora Eckert DETROIT (Reuters) -General Motors again surpassed Wall Street’s expectations this year, as its third-quarter results benefited from lean inventories and a steady demand for gasoline-engine truck and SUV, sending its shares up about 7.6% in early trading. GM is targeting annual earnings at the top end of its prior forecast, and Chief…
(Reuters) – Asset management giant BlackRock on Tuesday launched two new exchange-traded funds (ETFs) aimed at giving investors exposure to the booming market for artificial intelligence. Generative AI, designed to create human-like interactions by processing vast amounts of data, has taken the world by storm and is expected to be integrated into virtually all industries…
By Michael Erman and Svea Herbst-Bayliss NEW YORK (Reuters) – Activist hedge fund Starboard Value’s chief investment officer Jeffrey Smith said on Tuesday that drugmaker Pfizer Inc’s board needs to hold management accountable for its underperformance. “We measure success in producing blockbuster drugs and we all get measured by our track records. The track record…
