By Max A. Cherney SAN FRANCISCO (Reuters) -Broadcom’s chip unit unveiled on Tuesday a new networking processor that aims to speed artificial intelligence data crunching, which requires stringing together hundreds of chips that work together. The new chip is the latest piece of hardware that Broadcom has brought to bear against rival AI giant Nvidia….
(Reuters) -Advertising firm Omnicom on Tuesday beat Wall Street estimates for the second quarter, fueled by growth in its advertising and media segment. Shares of the company rose 2.2% in trading after the bell. The ad firm’s results stayed immune to the ongoing macroeconomic and geopolitical uncertainty, helped by continued spending by businesses on Omnicom’s…
By Elisa Anzolin and Juby Babu (Reuters) -Meta Platforms has acquired a nearly 3% stake in eyewear maker EssilorLuxottica, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering…
By Jonathan Stempel (Reuters) -The U.S. Federal Trade Commission on Tuesday called on Amazon.com and Walmart to crack down on third-party sellers that make deceptive “Made in USA” claims on the retailing giants’ online marketplaces. In letters to Amazon and Walmart, the FTC said it learned of several instances where third-party sellers falsely claimed their…
WASHINGTON (Reuters) -The Trump administration on Monday wound down a license allowing shipments of liquefied petroleum gas (LPG) to Venezuela’s state energy company Petroleos de Venezuela SA (PDVSA), the U.S. Treasury Department said on Monday. Offloading of LPG is allowed until September 5, provided that the gas was loaded on a vessel on or before…
WASHINGTON (Reuters) -The U.S. Interior Department on Monday proposed rule changes to allow energy companies to more easily combine oil and gas output from multiple leases using the same well pad, which could save the industry as much as $1.8 billion per year, it said. The proposed rule change, which would mostly affect onshore oil…
By Sheila Dang HOUSTON (Reuters) -Exxon Mobil signaled on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the previous quarter’s level. The earnings snapshot from the largest U.S. oil producer is closely watched for clues on how the broader oil sector will fare when companies begin…
By Noel Randewich and Shashwat Chauhan (Reuters) -Nvidia hit a market value of $3.92 trillion on Thursday, briefly putting it on track to become the most valuable company in history, as Wall Street doubled down on optimism about AI. Shares of the leading designer of high-end AI chips rose as much as 2.4% to $160.98…
(Reuters) -Figma disclosed higher revenue and profit for the quarter ended March 31, as the cloud-based designer platform prepares to list on the NYSE more than a year after its $20 billion planned sale to Adobe was scrapped. The company’s IPO is poised to be one of the most high-profile listings this year, signaling that…
(Reuters) -HSBC raised its 2025 average gold price forecast to $3,215 an ounce from $3,015 and its 2026 forecast to $3,125 from $2,915, citing elevated risks and government debt. Gold tends to perform well during periods of economic uncertainty and geopolitical tension, which lifted spot gold to a record high of $3,500.05 an ounce in…
