By Svea Herbst-Bayliss NEW YORK (Reuters) – Hedge fund Starboard Value has filed a shareholder resolution to do away with the dual-class shares that allow Rupert Murdoch to control News Corp, the publisher of the Wall Street Journal, according to people familiar with the matter. Starboard’s move comes as the 93-year-old media tycoon is locked…
By Lewis Krauskopf and David Randall NEW YORK (Reuters) – Uncertainty over the U.S. economy’s health is rippling through markets, adding fuel to an already-volatile period that has investors grappling with a shift in Federal Reserve policy, a tight U.S. election and worries over stretched valuations. U.S. stocks tumbled on Friday after closely watched jobs…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – A well-timed trade in GameStop’s options reaped a handsome profit on Friday after an account associated with “Roaring Kitty,” a stock influencer and longtime champion for the video game retailer, published a cryptic post on social media platform X. The post from “Roaring Kitty,” whose real name…
By Alexandra Alper WASHINGTON (Reuters) – Nippon Steel’s proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt the supply of steel needed for critical transportation, infrastructure, construction and agriculture projects, the U.S. said in a letter sent to the companies and seen by Reuters. Decisions by Nippon could…
By Helen Coster and Gram Slattery NEW YORK (Reuters) -Republican presidential candidate Donald Trump said on Thursday he would establish a government efficiency commission headed by billionaire supporter Elon Musk if he wins the Nov. 5 election, during a wide-ranging speech in which he laid out his economic vision for the country. The former president…
(Reuters) – Democrat Kamala Harris’ campaign for U.S. president raised more than $300 million in the month of August, more than twice as much as her Republican opponent Donald Trump raised during the same period, NBC News reported on Thursday, citing two unnamed sources. Trump’s campaign said on Wednesday that his campaign and party raised…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped against most major currencies on Wednesday after July U.S. job openings data signaled a softening labor market, tilting the odds further in favor of larger interest rate cuts by the Federal Reserve. Traders boosted bets that the Fed will deliver a half-a-percentage-point reduction at its…
By Kenrick Cai, Krystal Hu, Anna Tong SAN FRANCISCO/NEW YORK -Safe Superintelligence (SSI), newly co-founded by OpenAI’s former chief scientist Ilya Sutskever, has raised $1 billion in cash to help develop safe artificial intelligence systems that far surpass human capabilities, company executives told Reuters. SSI, which currently has 10 employees, plans to use the funds…
By Ricardo Brito and Luciana Magalhaes BRASILIA/SAO PAULO (Reuters) -Tensions between Brazil and Elon Musk’s business empire ratcheted up further as the country’s telecoms regulator threatened to sanction his satellite broadband company Starlink hours after its top court stood behind a controversial decision to ban social network X from the country. Brazil’s President Luiz Inacio Lula da…
SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Friday that billionaire Elon Musk must respect the rulings of the country’s Supreme Court, amid an ongoing feud that left social media giant X on the brink of being taken down in Brazil. X was still working normally in Brazil on Friday…
