U.S. chip bans not meant to hobble China's growth, Blinken says
By Stephen Nellis (Reuters) - U.S. export controls on sending advanced computing chips to China are not meant to hold back China's economy or technological development, Secretary of State Antony Blinken said during an interview with National Public...
23h ago
Apple renews talks with OpenAI for iPhone generative AI features, Bloomberg News reports
(Reuters) -Apple Inc has renewed discussions with OpenAI about using the startup's generative AI technology to power some new features being introduced in the iPhone later this year, Bloomberg News reported on Friday. The companies have begun discussin...
23h ago
Google plans $3 billion data center investment in Indiana, Virginia
(Reuters) - Alphabet unit Google said on Friday it would invest $3 billion to set up a data center campus in Indiana and expand sites in Virginia. A boom in artificial intelligence applications has increased the demand for cloud computing, promptin...
Apr 26, 2024
US regulators seize troubled lender Republic First Bancorp
(Reuters) -U.S. regulators have seized Republic First Bancorp and agreed to sell it to another lender, the Federal Deposit Insurance Corp said on Friday. The FDIC has been appointed as receiver and has entered into an agreement with Fulton Bank, Nation...
Apr 26, 2024
Planemaker Embraer CEO says supply chain has been improving
By Gabriel Araujo SAO JOSE DOS CAMPOS (Reuters) - The chief executive of Brazil's Embraer said on Friday that supply chain issues impacting planemakers have been improving but some challenges remain. Francisco Gomes Neto told reporters at an event ...
Apr 26, 2024
L3Harris cuts 5% workforce in cost-saving measure
(Reuters) - U.S. defense contractor L3Harris cut 5% of its workforce earlier this month in a bid to streamline its business and save costs, CEO Chris Kubasik said in a post-earnings conference call on Friday. The announcement confirms a Reuters rep...
Apr 26, 2024
Deutsche Bank to make provision for Postbank suit that will hit Q2 profit
BERLIN (Reuters) - Deutsche Bank AG said a court ruling in a years-long litigation over its takeover of Postbank will require it to make a legal provision that will impact its second quarter and full-year profitability. Germany's flagship lender sa...
Apr 26, 2024
S&P 500 Q1 earnings estimated growth improves; stocks up for week
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. first-quarter estimated earnings growth is looking stronger at nearly the halfway mark of the reporting period, with corporate results giving a boost to stocks this week after recent weakness. S&P ...
Apr 26, 2024
Tesla to lay off 693 employees in Nevada, government notice says
SAN FRANCISCO (Reuters) -Tesla plans to lay off 693 employees at its facilities in Sparks, Nevada, a government notice showed, as part of its plan to cut more than 10% of its global workforce amid dropping sales and rising competition. The notice was s...
Apr 26, 2024
Lofty US stocks leave investors punishing earnings disappointments
By Lewis Krauskopf NEW YORK (Reuters) - Richly valued U.S. stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report. Strong reports fr...
Apr 26, 2024