By Mike Scarcella and Jody Godoy (Reuters) -Meta Platforms has agreed to pay $1.4 billion to Texas to resolve the state’s lawsuit accusing the Facebook parent of illegally using facial-recognition technology to collect biometric data of millions of Texans without their consent. The terms of the settlement, disclosed on Tuesday, mark the largest accord ever…
By Joey Roulette WASHINGTON (Reuters) – SpaceX is in talks with U.S. and Australian officials to land and recover one of its Starship rockets off Australia’s coast, a possible first step toward a bigger presence for Elon Musk’s company in the region as the two countries bolster security ties, according to three people familiar with…
By Savyata Mishra (Reuters) -McDonald’s reported a surprise drop in sales worldwide on Monday, its first decline in 13 quarters, as deal-seeking consumers shy away from higher priced menu items, including Big Macs. Persistent inflation has forced lower-income consumers to shift to more affordable food options at home. That has led fast food chains such…
By Rajesh Kumar Singh CHICAGO (Reuters) – Southwest Airlines’ plan to eliminate open seating is one way for the company to raise much-needed revenue, but it comes with the risk of alienating loyal customers. The unusual practice of letting passengers choose their own seats once they board the plane was created by Southwest’s egalitarian-minded founder,…
By Fabian Cambero and Natalia Siniawski SANTIAGO (Reuters) -Chile’s Codelco, the world’s largest copper producer, on Friday posted a 8.4% drop in output for the first half of 2024 compared with the same period last year, to 579,785 metric tons, citing operational setbacks and difficult weather. The company attributed the lower output to an extended…
By Svea Herbst-Bayliss (Reuters) – Bill Ackman said his new U.S. listed fund, Pershing Square USA, will be dramatically smaller than the $25 billion people initially said he could raise, citing investors’ general nervousness about the structure and how to invest the cash. Ackman told investors this week there will be a “hard cap on…
By Pritam Biswas and Echo Wang (Reuters) -Cold storage real estate investment trust Lineage’s shares gained 5% in their Nasdaq debut on Thursday, signaling investor enthusiasm for the year’s biggest public offering so far. Investors have showed renewed interest for fresh listings in 2024 on hopes of a soft landing for the economy, after the…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The selloff in U.S. stocks is driving record trading options on the Nasdaq 100 Index as the tech-heavy gauge is battered by turbulence in giant tech stocks. The index – in which about 70% of the companies represented are tech – has slipped 7% from its July…
By Suzanne McGee (Reuters) – The nine exchange-traded funds (ETFs) tied to the spot price of ether, the world’s second-largest cryptocurrency, scooped up net inflows of $106 million on Tuesday as they began trading on U.S. stock exchanges, according to data from CF Benchmarks and several trading firms. The funds that pulled in most of…
(Reuters) – Lamb Weston forecast its annual sales and profit below analysts’ expectations on Wednesday, as higher prices of its frozen food products begin to hurt volumes, sending its shares plunging more than 20% in early trading. The company has been increasing prices of its products, including ready-to-cook classic and sweet potato fries to offset…
