By Nate Raymond (Reuters) – A U.S. appeals court on Wednesday upheld a jury’s verdict clearing Tesla CEO Elon Musk and his company of liability over allegations they misled investors when the billionaire posted on social media in 2018 that he had “funding secured” to take the electric car company private. The San Francisco-based 9th…
LONDON (Reuters) – Online fast-fashion platforms Shein and Temu are gearing up for a 2026 trial at London’s High Court, with the rivals trading allegations of copyright infringement and anti-competitive behaviour in competing lawsuits. Shein sued Temu in Britain last year, accusing Whaleco UK Limited – whose ultimate parent is Temu’s owner PDD Holdings –…
(Reuters) – World’s third-largest contract chipmaker, GlobalFoundries , forecast fourth-quarter revenue above Wall Street estimates on Tuesday, driven by recovering semiconductor demand from smartphone makers, sending shares up nearly 10% in premarket trading. The New York-based company has seen a resurgence in demand from its smart mobile devices segment, offsetting weakness in the Home and…
By Chris Kirkham (Reuters) -When Reuters reported in April that Tesla had scrapped plans for a long-promised, next-generation $25,000 electric vehicle, the automaker’s stock plunged. Chief Executive Elon Musk rushed to respond on X, his social-media network. “Reuters is lying,” he posted, without elaborating. Tesla’s stock recovered some of its losses. Six months later, Musk…
By Danilo Masoni MILAN (Reuters) – A Donald Trump victory in the race for the White House is widely seen as bullish for European defence stocks, given his warnings to scale back U.S. military support in the region and force NATO members to spend 2% or more of their GDP on defence. However, should he…
(Reuters) -Fox Corp beat Wall Street expectations for first-quarter revenue on Monday, as the media company benefited from higher political advertising ahead of the U.S. presidential election, sending its shares up 5% in premarket trading. A large number of people sought out traditional news and television programs for updates on the Nov. 5 U.S. presidential…
By Arsheeya Bajwa (Reuters) -Intel will be replaced by Nvidia on the blue-chip Dow Jones Industrial Average index after a 25-year run, underscoring the shift in the chipmaking market and marking another setback for the struggling semiconductor firm. Nvidia will join the index next week along with paint-maker Sherwin-Williams , which will replace Dow, S&P…
By Jonathan Stempel (Reuters) -Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, further slashing holdings in Apple and boosting cash to a record $325.2 billion. In its quarterly report on Saturday, Berkshire said it sold about 100 million, or 25%, of its Apple shares over the summer, ending with…
By Anna Tong, Aditya Soni and Deborah Mary Sophia (Reuters) -Big technology companies including Microsoft, Meta and Amazon are stepping up spending to build out AI data centers in a rush to meet vast demand, but Wall Street is hungry for a quicker payday on the billions invested. Microsoft and Meta both said on Wednesday…
By Arriana McLymore and Ananya Mariam Rajesh (Reuters) – Amazon’s push to offer more everyday essentials like toothpaste is hurting its average selling prices, but it is also a guard against rivals such as Temu and Shein who offer rock bottom prices on goods they ship from China. People are shopping more frequently at Amazon,…
