By Carolina Mandl (Reuters) -Billionaire hedge fund manager Bill Ackman is considering endorsing Donald Trump as the former U.S. president seeks to return to the White House, a source familiar with the matter said. Ackman plans to announce which candidate he will endorse on the social media network X, the source said, confirming an earlier…
NEW YORK (Reuters) – The rate of U.S. failed trades stood at 1.90% on Wednesday, a big test day for the recently implemented faster settlement cycle, roughly stable from Friday’s number, Depository Trust & Clearing Corporation (DTCC) showed this morning. Market participants were expecting it to increase to 4.1% after T+1 implementation, from 2.9%, according…
By Hadeel Al Sayegh and Maha El Dahan DUBAI (Reuters) – Saudi Arabia is selling a stake of roughly 0.64% in state oil giant Aramco in a landmark deal as the kingdom proceeds with Crown Prince Mohammed bin Salman’s plan to diversify the economy. Saudi Arabia is offering 1.545 billion Aramco shares at between 26.7…
By Kanchana Chakravarty and Arsheeya Bajwa (Reuters) -Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm. The company could lose more than $48 billion in market value if losses hold, as it…
(Reuters) – OpenAI’s board on Thursday pushed back on allegations from its former members that concerns over artificial intelligence safety at the startup necessitated Sam Altman’s shocking ouster last year. OpenAI’s board members in an article published in the Economist said the review into the events found the previous board’s decision did not arise out…
NEW YORK (Reuters) – Meta said on Wednesday it had found “likely AI-generated” content used deceptively on its Facebook and Instagram platforms, including comments praising Israel’s handling of the war in Gaza published below posts from global news organizations and U.S. lawmakers. The social media company, in a quarterly security report, said the accounts posed…
By Mike Scarcella (Reuters) – Visa and Mastercard have agreed to pay $197 million to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. The plaintiffs’ lawyers revealed the proposed accord on Wednesday in a filing in Washington, D.C., federal court. The settlement involves…
By Humeyra Pamuk CHISINAU (Reuters) – The delivery of U.S. weapons to Ukraine is helping stabilize the frontline of the battlefield, U.S. Secretary of State Antony Blinken said on Wednesday, adding that Washington was working hard to deliver more air defenses to Ukraine. Blinken, speaking at a press conference in the Moldovan capital of Chisinau,…
(Reuters) -The California Public Employees Retirement System (CalPERS) CEO Marcie Frost is planning to oppose Tesla CEO Elon Musk’s $56 billion pay package, CNBC reported on Wednesday. “We do not believe that the compensation is commensurate with the performance of the company,” Frost said in an interview to CNBC. Asked if the pension fund was…
By Granth Vanaik (Reuters) – Several Wall Street brokerages, including J.P. Morgan and UBS, have started coverage on Viking Holdings, with a bullish view on the travel and cruise company’s growth opportunities in an expanding global vacations market. Viking shares rose about 1% to $29.93 on Tuesday and were up more than 13% since their…
