(Reuters) -Contract drug manufacturer Thermo Fisher Scientific said on Tuesday it will buy Solventum’s purification and filtration business for about $4.1 billion, sending the latter’s shares up around 9%. The deal should allow Thermo to enter the filtration category in bioprocessing, where peers Danaher and Repligen are more strongly positioned, said Leerink Partners analyst Puneet…
By Pete Schroeder WASHINGTON (Reuters) – U.S. banking sector profits rose 2.3% to $66.8 billion in the fourth quarter of 2024, a bank regulator reported on Tuesday, as it also announced moves to update how so-called problem banks are tracked. In its latest quarterly report, the Federal Deposit Insurance Corporation said it is revising its…
By Noel Randewich (Reuters) – Tesla’s stock tumbled 8% on Tuesday, pushing its market value below $1 trillion for the first time since November after data showed the electric car maker’s sales slumped in Europe in January. The European Automobile Manufacturers Association reported that Tesla sales dropped 45% in Europe, compared with a 37% jump…
By Shashwat Chauhan (Reuters) – Artificial intelligence-linked shares fell on Tuesday, in lead-up to AI bellwether Nvidia’s quarterly earnings, which could offer clarity on demand and justify the sector’s lofty valuations. Technology stocks globally sold off this week after a TD Cowen analyst note said Microsoft has canceled leases for sizeable data center capacity in…
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – A JPMorgan Chase executive told thousands of employees he wanted “more hustle” days after the bank’s CEO Jamie Dimon scorned staff pushback against its five-day return-to-office policy. The memo illustrates the tension between JPMorgan’s emphasis on in-office culture and employees who cite its strong performance…
By David Shepardson (Reuters) – New York City collected $48.6 million in revenue from the first month of its congestion pricing program that the Trump administration has moved to kill, a transit agency said. The Metropolitan Transportation Authority (MTA) said on Monday that in January the program reduced congestion and raised $48.6 million with $11.1…
By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) – The American Petroleum Institute trade group on Monday pressed for a nationwide policy on higher-ethanol blends of gasoline after the President Donald Trump’s administration said on Friday it would move ahead with expanded sales of the product in certain Midwestern states. The U.S. Environmental Protection…
(Reuters) – AI startup Anthropic is looking to raise $3.5 billion in its latest funding round which would value the startup behind the chatbot Claude at $61.5 billion, the Wall Street Journal reported on Monday. Investors in the latest round include venture firms Lightspeed Venture Partners, General Catalyst and Bessemer Venture Partners, WSJ said. Abu…
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet unit Google is set to be charged with breaching EU rules aimed at checking the power of Big Tech after proposed changes to its search results failed to address the EU antitrust regulator’s concerns and those of its rivals, three people with direct knowledge of the matter…
By Aditya Soni and Stephen Nellis (Reuters) – Apple is scrapping its most advanced security encryption feature for cloud data in Britain, the company said on Friday, an unprecedented response to government demands for access to user data. The change affects a feature called Advanced Data Protection (ADP), which extends end-to-end encryption across a wide…
