(Reuters) -Paramount Global fell short of Wall Street’s fourth-quarter revenue expectations on Wednesday as a continued decline in its cable TV unit clouded higher-than-expected subscriber growth for its Paramount+ streaming platform. Shares of the company fell 1.5% in extended trading. Media giants are reshaping their business strategies in response to the continued erosion of cable…
By Max A. Cherney and Arsheeya Bajwa (Reuters) -Nvidia forecast first-quarter revenue above Wall Street estimates on Wednesday, signaling strong demand for its market-leading artificial intelligence chips and said demand for its new Blackwell semiconductors was “amazing.” The company’s outlook for gross margin in the current quarter was slightly lower than expected, though, as the…
By Mike Scarcella (Reuters) – A leading attorney for billionaire Tesla CEO Elon Musk and embattled New York Mayor Eric Adams now has a standard billing rate of $3,000 an hour, placing him on the top shelf among even the priciest of Manhattan lawyers. Alex Spiro, known for his high-profile clientele and relentless litigation style,…
WASHINGTON – U.S. President Donald Trump’s approval rating held steady over the past week, according to a Reuters/Ipsos poll released on Tuesday that found 44% of respondents approved of his performance over his first month in office. The survey found that Americans’ attitudes toward Trump were essentially unchanged as he fired tens of thousands of…
By Jonathan Stempel (Reuters) – A federal judge on Tuesday said Meta Platforms must face a lawsuit claiming that the Facebook and Instagram parent prefers to hire foreign workers because it can pay them less than American workers. U.S. Magistrate Judge Laurel Beeler in San Francisco said three U.S. citizens who accused Meta of refusing…
(Reuters) -Contract drug manufacturer Thermo Fisher Scientific said on Tuesday it will buy Solventum’s purification and filtration business for about $4.1 billion, sending the latter’s shares up around 9%. The deal should allow Thermo to enter the filtration category in bioprocessing, where peers Danaher and Repligen are more strongly positioned, said Leerink Partners analyst Puneet…
By Pete Schroeder WASHINGTON (Reuters) – U.S. banking sector profits rose 2.3% to $66.8 billion in the fourth quarter of 2024, a bank regulator reported on Tuesday, as it also announced moves to update how so-called problem banks are tracked. In its latest quarterly report, the Federal Deposit Insurance Corporation said it is revising its…
By Noel Randewich (Reuters) – Tesla’s stock tumbled 8% on Tuesday, pushing its market value below $1 trillion for the first time since November after data showed the electric car maker’s sales slumped in Europe in January. The European Automobile Manufacturers Association reported that Tesla sales dropped 45% in Europe, compared with a 37% jump…
By Shashwat Chauhan (Reuters) – Artificial intelligence-linked shares fell on Tuesday, in lead-up to AI bellwether Nvidia’s quarterly earnings, which could offer clarity on demand and justify the sector’s lofty valuations. Technology stocks globally sold off this week after a TD Cowen analyst note said Microsoft has canceled leases for sizeable data center capacity in…
By David Shepardson (Reuters) – New York City collected $48.6 million in revenue from the first month of its congestion pricing program that the Trump administration has moved to kill, a transit agency said. The Metropolitan Transportation Authority (MTA) said on Monday that in January the program reduced congestion and raised $48.6 million with $11.1…
