(Reuters) – Blackstone Real Estate on Wednesday entered into an agreement to take Retail Opportunity Investments Corp private in an all-cash transaction valued at about $4 billion, including debt. Reuters reported on Sunday that the alternative asset manager was in advanced talks for the acquisition of the company, which owns strip malls across the United…
By Nate Raymond (Reuters) – A U.S. appeals court on Wednesday upheld a jury’s verdict clearing Tesla CEO Elon Musk and his company of liability over allegations they misled investors when the billionaire posted on social media in 2018 that he had “funding secured” to take the electric car company private. The San Francisco-based 9th…
LONDON (Reuters) – Online fast-fashion platforms Shein and Temu are gearing up for a 2026 trial at London’s High Court, with the rivals trading allegations of copyright infringement and anti-competitive behaviour in competing lawsuits. Shein sued Temu in Britain last year, accusing Whaleco UK Limited – whose ultimate parent is Temu’s owner PDD Holdings –…
(Reuters) – World’s third-largest contract chipmaker, GlobalFoundries , forecast fourth-quarter revenue above Wall Street estimates on Tuesday, driven by recovering semiconductor demand from smartphone makers, sending shares up nearly 10% in premarket trading. The New York-based company has seen a resurgence in demand from its smart mobile devices segment, offsetting weakness in the Home and…
(Reuters) -Fox Corp beat Wall Street expectations for first-quarter revenue on Monday, as the media company benefited from higher political advertising ahead of the U.S. presidential election, sending its shares up 5% in premarket trading. A large number of people sought out traditional news and television programs for updates on the Nov. 5 U.S. presidential…
By Jonathan Stempel (Reuters) -Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, further slashing holdings in Apple and boosting cash to a record $325.2 billion. In its quarterly report on Saturday, Berkshire said it sold about 100 million, or 25%, of its Apple shares over the summer, ending with…
By Anna Tong, Aditya Soni and Deborah Mary Sophia (Reuters) -Big technology companies including Microsoft, Meta and Amazon are stepping up spending to build out AI data centers in a rush to meet vast demand, but Wall Street is hungry for a quicker payday on the billions invested. Microsoft and Meta both said on Wednesday…
By Arriana McLymore and Ananya Mariam Rajesh (Reuters) – Amazon’s push to offer more everyday essentials like toothpaste is hurting its average selling prices, but it is also a guard against rivals such as Temu and Shein who offer rock bottom prices on goods they ship from China. People are shopping more frequently at Amazon,…
By Greg Bensinger (Reuters) -More than 500 Amazon.com employees sent a letter on Wednesday to the CEO of its AWS unit urging reversal of a full return-to-office policy and rejecting his assertion that the rule had broad support and opponents should leave Amazon Web Services. “We were appalled to hear the non-data-driven explanation you gave…
(Reuters) -Pfizer raised its full-year profit forecast after better-than-expected sales of its COVID-19 treatment helped it beat Wall Street estimates for third-quarter earnings on Tuesday. Shares of the U.S. drugmaker rose 3.2% to $29.81 in premarket trading. Pfizer now expects annual profit to be in the range of $2.75 to $2.95 per share, compared to…
