By Shashwat Chauhan and Johann M Cherian (Reuters) -U.S. corporate sectors that are sensitive to interest rates will be in focus as the Federal Reserve looks poised to lower borrowing costs for the first time this year, with most having already notched up gains after Chair Jerome Powell hinted at cuts last month. After easing…
(Reuters) – Shares of Workday rose nearly 9% on Wednesday, after activist investor Elliott Management unveiled a stake of more than $2 billion in the company and backed its leadership. Workday has been pushing to stay competitive in a consolidating human resources software market, where integrating AI has become key to meeting shifting client needs….
(Reuters) – Amazon.com said on Wednesday it is investing more than $1 billion to raise pay and lower healthcare costs for U.S. fulfillment and transportation employees, pushing up the average total compensation to over $30 an hour including benefits. The technology giant said the average pay would increase to more than $23 per hour, adding…
By Ateev Bhandari, Pritam Biswas and Echo Wang (Reuters) – Shares of StubHub rose about 8% in their New York Stock Exchange debut on Wednesday, valuing the ticket reseller marketplace at $9.32 billion, adding to a streak of positive day-one receptions for technology platforms. The New York-based company’s stock opened at $25.35 per share, compared…
By Milana Vinn and Max A. Cherney NEW YORK -ASML, a crucial supplier of advanced chipmaking equipment, is set to become the top shareholder of French artificial intelligence startup Mistral AI in a move to strengthen European tech sovereignty, people familiar with the matter told Reuters. The Dutch ASML is committing 1.3 billion euros ($1.5…
By Foo Yun Chee BRUSSELS (Reuters) -Alphabet’s Google was hit with a 2.95-billion-euro ($3.45 billion) European Union antitrust fine on Friday for anti-competitive practices in its lucrative adtech business, a sharp sanction that riled up U.S. President Donald Trump. The fine, the fourth penalty Google has faced in its decade-long fight with EU competition regulators,…
(Reuters) -Hyundai’s electric air taxi startup Supernal has paused work on its aircraft program after recent staff cuts and the departure of its CEO and chief technology officer, TechCrunch reported on Sunday, citing two people familiar with the matter. Supernal announced the departure of CEO Jaiwon Shin late last week. David McBride, the CTO, has…
(Reuters) -Nvidia said on Friday the AI GAIN Act would restrict global competition for advanced chips, with similar effects on the U.S. leadership and economy as the AI Diffusion Rule, which put limits on the computing power countries could have. Short for Guaranteeing Access and Innovation for National Artificial Intelligence Act, the GAIN AI Act…
By Ankita Yadav (Reuters) -Financial markets may be looking at another bout of volatility over the next six months, economists cautioned, as U.S. President Donald Trump clashes with the Federal Reserve to exert influence on monetary policy. Trump’s persistent criticism of the Fed board and Chair Jerome Powell for not lowering interest rates, his attempt…
By Caroline Valetkevitch NEW YORK (Reuters) -The S&P 500 posted a closing record high on Thursday as labor market data did not change expectations for an interest rate cut by the Federal Reserve, a day ahead of the key U.S. monthly jobs report. Also boosting the market were shares of Broadcom, Amazon and Meta Platforms….
