JERUSALEM (Reuters) – Intel Corp is halting plans for a $25-billion factory in Israel, Israeli financial news website Calcalist said on Monday, in a report that the chipmaker did not confirm or deny. The U.S. company, asked about the report, cited the need to adapt big projects to changing timelines, without directly referring to the…
DUBAI (Reuters) – U.S. and British forces carried out six airstrikes on targets in Yemen on Friday, a Houthi-run television station said. Four attacks were made on the airport of Hodeidah – a main port city on the Red Sea – and the seaport of Salif to the north, Al-Masirah TV said. Two strikes also…
(Reuters) – Chrysler is recalling more than 211,000 vehicles in the United States due to a software malfunction that could disable the electronic stability control system, the National Highway Traffic Safety Administration (NHTSA) said on Saturday. Due to the malfunction, the Anti-Lock Brake System (ABS) control module may disable the electronic stability control system, the…
(Reuters) – As Nvidia threatens to dethrone Microsoft as the world’s most valuable company, at least a few investors are betting its soaring shares will return to earth. Outstanding short bets against Nvidia stand at about $34 billion, nearly twice as much as what has been bet against Apple and Tesla, the next two biggest…
(Reuters) – The S&P Dow Jones Indices said on Friday that private equity firm KKR & Co, cybersecurity company CrowdStrike and internet services provider GoDaddy will join the benchmark S&P 500 before markets open on June 24. Shares of CrowdStrike rose 6% in extended trading. KKR and GoDaddy climbed 9% and 3.6%, respectively. The companies…
By Chibuike Oguh NEW YORK (Reuters) -Wall Street stocks ended slightly lower on Friday in choppy trading after stronger-than-expected U.S. jobs data pointed to a robust economy but prompted worries the Federal Reserve may wait longer to cut interest rates than many investors had hoped. The U.S. economy generated about 272,000 jobs in May, far…
(Reuters) – Warren Buffett’s Berkshire Hathaway bought around 2.57 million shares of common stock in Occidental Petroleum over June 5-7, according to a U.S. securities filing. Buffett’s company bought additional shares in Occidental’s common stock for more than $150 million and now owns about 250.6 million shares in the energy producer. Occidental shares closed at…
TOKYO (Reuters) – Nippon Steel Vice Chairman Takahiro Mori met with U.S. Steel’s employees and community leaders this week to gain better understanding of its proposed acquisition of the U.S. company and saw positive reaction, a company spokesperson said. Mori, the key negotiator for the U.S. Steel deal, returned to the United States this week,…
(Reuters) – Walgreens Boots Alliance has shelved plans for a potential initial public offering of its UK-based Boots drugstore chain as sale talks continue, Bloomberg News reported on Friday citing people with knowledge of the matter. The pharmacy chain is now exploring other options for Boots and has continued informal talks with potential buyers, including…
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) – A former Allianz fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the COVID-19 pandemic, and which according to prosecutors caused $7 billion of investor losses. Gregoire Tournant admitted to two counts of investment adviser fraud,…
