Trump raises stake in his media firm to nearly 65%
(Reuters) - Donald Trump has raised his stake in the company that operates his social media app Truth Social to nearly 65% as of last week, according to a filing on Tuesday.
Today: May 03, 2024
Technology
South Korea exports rise for seventh month on growing chip demand
SEOUL (Reuters) - South Korea's exports rose for a seventh straight month in April, trade data showed on Wednesday, as strong demand for chips continued to lead growth while automobile sales and U.S.
China hosts foreign naval officials amid South China Sea tensions
By Laurie Chen QINGDAO, China (Reuters) - The Chinese Navy on Sunday kicked off a biennial meeting of top foreign naval officials in the port city of Qingdao, in a show of military diplomacy that will
EBay forecasts Q2 revenue below estimates as consumer spending remains strained
(Reuters) - Ecommerce firm eBay forecast second-quarter revenue below Wall Street estimates on Wednesday, as demand cools for its key product categories like collector's items and auto parts, sending
Devon Energy beats Q1 profit estimate on higher production
(Reuters) - U.S. shale producer Devon Energy beat first-quarter profit estimates on Wednesday as higher production from Delaware basin helped it offset a decline in natural gas prices.
Oil falls to 7-week low on surprise US storage build, Middle East hopes
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 3% to a seven-week low on Wednesday on a surprise build in U.S. crude stocks, the prospect of a Middle East ceasefire agreement and as hopes
AMD, Super Micro spark chip selloff as earnings miss lofty AI expectations
By Harshita Mary Varghese (Reuters) -Advanced Micro Devices and Super Micro Computer led a selloff in chip stocks on Wednesday after their earnings disappointed investors who had piled into the sector
Wind farm developer Orsted confident about strategy after Q1 profit rises
By Louise Rasmussen COPENHAGEN (Reuters) - Orsted, the world's biggest offshore wind farm developer, reported on Thursday a rise in first-quarter operating profit thanks to higher earnings from its
Nigeria court adjourns Binance and execs trial to May 17
By Camillus Eboh ABUJA (Reuters) - A Nigerian court on Thursday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to May 17 after a lawyer for the
Tech giants' market cap falls on AI doubts, high rates; Alphabet, Tesla gain
(Reuters) - The market capitalisation of top technology giants fell sharply in April, pressured by diminishing enthusiasm for artificial intelligence and a scaling back of expectations for central
Military shipbuilder Huntington beats Q1 estimates, shares down 12% on weak profit margins
(Reuters) -Huntington Ingalls reported better-than-expected quarterly earnings on Thursday on the back of demand for aircraft carriers but profit margins were below company estimates, sending shares
Universal Music Group artists to return to TikTok after new licensing pact
By Dawn Chmielewski and David Shepardson (Reuters) -Universal Music Group and TikTok said on Thursday they had reached a new licensing agreement that will restore the label's songs and artists to the
Peloton CEO McCarthy steps down, fitness equipment maker to cut 15% jobs
By Kannaki Deka (Reuters) -Peloton CEO Barry McCarthy, who was tasked in early 2022 to stem the fitness equipment maker's slide in sales from the pandemic highs, has quit as the company announced job
More funds needed for US telecoms to remove Chinese equipment, says FCC
By David Shepardson WASHINGTON (Reuters) - The Federal Communications Commission (FCC) said on Thursday nearly 40% of U.S. telecom companies getting federal support need additional government funding
Block to add more bitcoin to its treasury, lifts annual forecast
(Reuters) -Block lifted its full-year adjusted core earnings forecast on Thursday and revealed plans to add more bitcoin to its balance sheet, as the Jack Dorsey-led firm bets big on the
Bird flu outbreak in dairy cows fails to deter US raw milk sellers
By Lisa Baertlein, Julie Steenhuysen and Tom Polansek LOS ANGELES/CHICAGO (Reuters) - U.S. sellers of raw milk appear undeterred by federal health warnings for consumers to avoid drinking
MercadoLibre net profit surges, driven by Brazil, Mexico
SAO PAULO (Reuters) - Latin America e-commerce giant MercadoLibre said on Thursday its first-quarter net profit surged 71% from a year earlier, beating analysts' estimates as its performance in Brazil
Qualcomm jumps as AI sparks rebound in Chinese smartphone market
(Reuters) - Qualcomm shares climbed about 10% to a more than two-year high on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, following a
Israeli private eye arrested in London over alleged hacking for US firm
By Sam Tobin LONDON (Reuters) -An Israeli private investigator wanted by the United States was arrested in London over allegations that he carried out a cyberespionage campaign on behalf of an
Universities take steps to prevent pro-Palestinian protest disruptions of graduation ceremonies
Some U.S. universities with weekend graduation ceremonies are taking steps to keep a lid on possible disruptions
Italy's Webuild sends proposal to rebuild collapsed Baltimore bridge
(Reuters) - Italian construction group Webuild said on Friday it has pitched a project to rebuild Baltimore's Francis Scott Key Bridge, which collapsed in March after a container ship crashed into a
US Congress moves ahead on bill to push TikTok's Chinese owner to sell
By Moira Warburton WASHINGTON (Reuters) - An effort to force TikTok's Chinese owner, ByteDance, to sell the social media app or face a ban in the U.S. was gaining steam in Congress on Thursday, with
Google consolidates its DeepMind and Research teams amid AI push
(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
Factbox-How Elon Musk's pay package compares to other top CEOs in United States
(Reuters) -Tesla's attempt to seek a shareholder re-vote on CEO Elon Musk's record-breaking pay that was voided by a Delaware judge in January has once again put the spotlight on CEO compensation in
Meta releases early versions of its Llama 3 AI model
By Katie Paul NEW YORK (Reuters) -Meta Platforms on Thursday released early versions of its latest large language model, Llama 3, and an image generator that updates pictures in real time while users
