By Naomi Rovnick LONDON (Reuters) – Central banks in the euro area and Switzerland cut rates on Thursday, a day after Canada slashed rates by a hefty 50 bps. Australia, meanwhile, eased its previously dovish tone this week, while Japan remains an outlier. Here’s where major rate-setters stand and what traders expect next. 1/ SWITZERLAND…
By Sriparna Roy (Reuters) – Price increases for five of the 10 drugs that contributed the most to a rise in U.S. medical spending in 2023 were not supported by clinical evidence and drove costs higher by $815 million, an influential drug pricing watchdog said on Thursday. The Institute for Clinical and Economic Review (ICER)…
(Reuters) – Tesla CEO Elon Musk’s net worth crossed $400 billion on Thursday, the Forbes real-time billionaires list showed, boosted by a nearly 71% surge in the automaker’s shares this year and the soaring valuation of his rocket company SpaceX. Musk is Tesla’s largest shareholder with about a 13% stake in the company. The EV…
(Reuters) – BuzzFeed said on Thursday it has sold First We Feast, creator of YouTube’s popular talk show ‘Hot Ones’, to a group led by Soros Fund Management affiliate for $82.5 million, as the struggling media company faces a cash crunch. First We Feast will become an independent company led by founder Chris Schonberger as…
By Kenrick Cai SAN FRANCISCO – Alphabet’s Google on Wednesday released the second generation of its artificial intelligence model Gemini and teased a slate of new ways to use AI beyond chatbots, including through a pair of eyeglasses. CEO Sundar Pichai in a blog post dubbed the moment as the start of a “new agentic…
(Reuters) – The Nasdaq breached the 20,000-point mark on Wednesday, as a rally in technology stocks showed no signs of slowing on hopes of looser regulation under Donald Trump’s presidency and bets on AI-fueled earnings growth in the coming quarters. The tech-heavy index rose 1.6% to an all-time high of 20001.42 points. It has jumped…
By Medha Singh (Reuters) – A meteoric rise in MicroStrategy’s shares has made the bitcoin hoarder a likely candidate for the tech-heavy Nasdaq 100 index ahead of an annual reshuffle this week. The loss-making software company, an aggressive investor in the highly volatile cryptocurrency, has seen its shares soar nearly 500% this year, taking its…
(Reuters) – Alphabet’s Google, along with TPG Rise Climate and other investors, is backing clean energy developer Intersect Power as part more than $800 million funding round, the company said on Tuesday. Google’s capital investment in Intersect Power comes as the tech giant, like other “hyperscalers” including Microsoft and Meta, races to bolster its domestic…
NEW YORK (Reuters) -Super Micro Computer Chief Executive Charles Liang on Tuesday said he is confident the technology company’s stock will not be delisted from the Nasdaq. On the sidelines of the Reuters NEXT conference in New York, Liang said Super Micro would file its necessary financial reports by February. The embattled company received a…
(Reuters) – Walgreens Boots Alliance is in talks to sell itself to private equity firm Sycamore Partners, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The pharmacy chain and Sycamore have been discussing a deal that could be completed early next year, assuming talks don’t fall apart, the report added….
