By Jonathan Stempel (Reuters) – Warren Buffett will not endorse investment products or political candidates, according to a statement on conglomerate Berkshire Hathaway’s website, in an apparent effort to ward off people trying to capitalize on his reputation. “In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr….
(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…
By Polina Devitt and Swati Verma LONDON (Reuters) – Gold is extending a period of successive record highs, moving the psychological milestone of $3,000 per ounce into view, analysts said, as geopolitical tension, a tight U.S. electoral race and favorable macro backdrop attract more investors. Spot gold reached a historic high of $2,740.37 a troy…
By Karen Freifeld (Reuters) – U.S. rules that will ban certain U.S. investments in artificial intelligence in China are under final review, according to a government posting, suggesting the restrictions are coming soon. The rules, which will also require U.S. investors to notify the Treasury Department about some investments in AI and other sensitive technologies,…
By David Shepardson (Reuters) – The U.S. Commerce Department said Monday it plans to award $325 million to Hemlock Semiconductor to significantly expand production capacity of semiconductor-grade polysilicon as it seeks to shift the chips supply chain. The government grant from the $52.7 billion semiconductor manufacturing and research subsidy program would support construction of a…
Tesla’s Earnings Report: Can Options Traders Cash In on the Big Move They’re Betting On? As Tesla gears up to release its Q3 earnings on Wednesday, options traders are placing big bets, with implied volatility pointing to a potential 5-8% price swing. The market is bracing for a major move, as contracts around the $200…
By Supantha Mukherjee STOCKHOLM (Reuters) – Eutelsat, the world’s third-biggest satellite operator by revenue, launched 20 satellites for its communications network on Sunday, using Elon Musk’s SpaceX in its first move since the merger of two European companies last year. A SpaceX Falcon 9 rocket took off with Eutelsat satellites from California’s Vandenberg Space Force…
