By Pritam Biswas and Mehnaz Yasmin (Reuters) -U.S. financial firms facilitated investments worth billions of dollars in index funds that included blacklisted Chinese companies, according to a bipartisan House Committee investigation that called for legislation aimed at restricting investment in those Chinese entities. U.S. index providers and asset managers channeled $6.5 billion last year to…
By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce – the second round of job cuts this year – as it reduces cost amid a broader slowdown in EV demand. Shares of Rivian, up as much as 3.4% on Wednesday, pared…
By Leika Kihara WASHINGTON (Reuters) -Bank of Japan Governor Kazuo Ueda said on Thursday the central bank may raise interest rates again if the yen’s declines significantly push up inflation, highlighting the impact currency moves may have on the timing of the next policy shift. “There’s a possibility the weak yen could push up trend…
(Reuters) – Alphabet-owned Google said on Thursday it would consolidate teams that focus on building artificial intelligence models across its Research and DeepMind divisions in its latest push to develop its AI portfolio. Google will relocate its Responsible AI teams – which focuses on safe AI development – from Research to DeepMind so that they…
(Reuters) -Tesla will lay off 285 employees in Buffalo, New York, as part of its plans to trim 10% of its global workforce, the electric-vehicle maker said in a legally mandated notice on Wednesday. Under pressure from falling sales and an intensifying price war for EVs, Tesla announced its latest round of jobs cuts on…
By Greg Bensinger (Reuters) – Amazon.com said on Wednesday it plans to push its cashierless shopping technology into more third-party stores this year, even as it reduces its reliance on the technology in its own. The online retailer said about 140 stores use the system, known as “Just Walk Out,” which allows customers to scan…
By Echo Wang (Reuters) -Shares of Donald Trump’s social media company slumped 18% on Monday, extending losses since the stock’s debut last month, after the company said it could sell millions of shares in coming months, including the former president’s entire stake. Trading in Trump Media & Technology Group, which operates Truth Social, has been…
(Reuters) -Advanced Micro Devices unveiled a new series of semiconductors for artificial intelligence-enabled business laptops and desktops on Tuesday as the chip designer looks to expand its share of the lucrative “AI PC” market. These chips are expected to be available in platforms from HP and Lenovo starting in the second quarter of 2024, AMD…
By Ludwig Burger FRANKFURT (Reuters) -Adidas on Tuesday raised its 2024 profit outlook after what the German sportswear giant said was a better than expected first quarter. In an unscheduled announcement, the company said it now expects full-year operating profit of about 700 million euros ($744 million), up from 500 million euros previously forecast. The…
By Saeed Azhar and Mehnaz Yasmin NEW YORK (Reuters) -Bank of America shares on Tuesday fell more than 3% after its first-quarter profits shrank and the bank set aside more money to cover souring loans from consumers whose finances are worsening. U.S. lenders have cited resilient household finances as evidence that the economy remains on…
