(Reuters) – Shoppers spent about $7.2 billion online across retailers during the first day of Amazon’s Prime Day in the United States, according to a report from Adobe Analytics on Wednesday. Major retailers including Walmart and Target have launched deals and shopping events through July to attract customers by offering deep discounts to compete with…
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge rejected Build-A-Bear Workshop’s effort to dismiss a lawsuit claiming that its Skoosherz plush toys were unauthorized knockoffs of Squishmallows, the popular plush toys made by a unit of Warren Buffett’s Berkshire Hathaway. In a decision on Monday, U.S. District Judge Josephine Staton in Los Angeles…
By Krystal Hu, Greg Bensinger and Jody Godoy (Reuters) – The U.S. Federal Trade Commission has asked Amazon.com to provide more details on its deal to hire top executives and researchers from artificial intelligence startup Adept, a person familiar with the matter told Reuters. The request reflects the FTC’s growing concern about how AI deals…
By Yadarisa Shabong and Martin Coulter (Reuters) – Britain’s competition regulator has started a formal investigation into Microsoft’s hiring of some former staff of Inflection AI and its partnership with the startup, it said on Tuesday. Over the past 18 months, regulators around the world have increasingly focused on potentially anti-competitive behaviour in the AI…
(Reuters) – Shares of Warner Bros Discovery rose more than 6% on Tuesday after Bank of America (BofA) Global Research said the company could create more value for its shareholders if it explored strategic options, including a potential sale. The loss-making media conglomerate has been reeling from the effects of subdued advertising in the U.S….
By Arasu Kannagi Basil and Davide Barbuscia (Reuters) – Assets managed by BlackRock hit a record $10.65 trillion in the second quarter thanks to rising client asset values and as investors pumped money into the company’s exchange-traded funds, the world’s largest asset manager said on Monday. Stock markets have scaled record highs in the last…
By Jonathan Stempel (Reuters) -Berkshire Hathaway’s share price hit a record high on Monday, reflecting investors’ confidence in Warren Buffett’s company, which is often regarded as a microcosm of the broader American economy. The price of Berkshire’s Class A shares rose 1.5% to $649,000 in late morning trading, surpassing the $647,039 price reached on Feb….
By Anna Tong and Katie Paul ChatGPT maker OpenAI is working on a novel approach to its artificial intelligence models in a project code-named “Strawberry,” according to a person familiar with the matter and internal documentation reviewed by Reuters. The project, details of which have not been previously reported, comes as the Microsoft-backed startup races…
By Fanny Potkin SINGAPORE (Reuters) – Intel’s push into software is going well and the company could have cumulative software revenue of $1 billion by the end of 2027, Chief Technology Officer Greg Lavender told Reuters. Intel made north of $100 million in software revenue in 2021, the year Lavender was brought in from cloud…
By Tatiana Bautzer and Manya Saini (Reuters) -Citigroup beat Wall Street expectations for second-quarter profit on Friday, boosted by a 60% jump in investment banking revenue and gains in its services division, sending the company’s shares up 3% before the bell. The third largest U.S. lender reported a profit of $1.52 per share in the…
