Year: 2023
-
Dollar up after strong US jobs data, takes back some losses from yen
By Hannah Lang WASHINGTON (Reuters) -The dollar rose on Friday after new data showed U.S. job growth accelerated in November and the unemployment rate dropped, pointing to underlying strength in the labor market. The U.S. dollar index was last up 0.3% at 104.0, on track for a modest weekly gain after a bruising November, in…
-
Amazon asks judge to dismiss FTC lawsuit, says no consumer harm shown
WASHINGTON (Reuters) – Amazon.com asked a federal court on Friday to dismiss a U.S. government antitrust lawsuit which accuses the company of using illegal strategies to boost profits at its online retail empire, including an algorithm that allegedly pushed up prices by more than $1 billion. In its motion to dismiss, Amazon said the U.S.…
-
Tesla Cybertruck’s stiff structure, sharp design raise safety concerns -experts
By Akash Sriram and Hyunjoo Jin (Reuters) -The angular design of Tesla’s Cybertruck has safety experts concerned the electric pickup truck’s stiff stainless-steel exoskeleton could hurt pedestrians and cyclists and damage other vehicles on roads. Reuters spoke to six safety professors and officials who viewed videos of crash tests conducted by Tesla on its first…
-
US self-driving industry seeks federal support, cites China risk
By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department needs to support the development of autonomous vehicles, a coalition of groups representing the industry warned on Thursday, saying the nascent industry risks losing out to competitors like China. “The AV industry is at a critical juncture and in need of strong leadership from USDOT,” the…
-
Alphabet soars as Wall Street cheers arrival of AI model Gemini
By Aditya Soni (Reuters) – Alphabet shares ended 5.3% higher on Thursday as Wall Street cheered the launch of Gemini, saying the new artificial intelligence model could help narrow the gap in a race with Microsoft-backed OpenAI. Long considered a leader in AI research, Alphabet lost the spotlight when OpenAI’s ChatGPT swept the tech landscape…
-
Lebanon buys about 30,000 metric tons wheat from Ukraine- traders
HAMBURG (Reuters) – The Lebanese government is believed to have purchased about 30,000 metric tons of milling wheat in a tender this week expected to be sourced from Ukraine, European traders said on Thursday. The purchase of 11.5% protein content wheat was said to have been made at about $253 a tonne c&f for spot…
-
AbbVie’s $8.7 billion bet on Cerevel is risky but smart, analysts say
By Bhanvi Satija and Khushi Mandowara (Reuters) – AbbVie’s decision to buy Cerevel Therapeutics before key data on the drug developer’s experimental schizophrenia treatment may have helped it avoid a potential bidding war but comes with several risks, analysts said. North Chicago, Illinois-based AbbVie said late Wednesday it would buy Cerevel for $8.7 billion, gaining…
-
U.S. household net net worth falls for first time in a year
(Reuters) -U.S. household wealth fell to roughly $151 trillion in the third quarter, pulled down by a drop in the value of stocks which more than offset a half-trillion rise in the value of property prices, the Federal Reserve said on Thursday. Household net worth fell about 1% in the period from July through September…
-
GameStop gains as lower costs blunt turnaround worries
By Zaheer Kachwala (Reuters) -GameStop shares reversed course to gain 2% on Thursday as cost cuts at the brick-and-mortar videogame retailer offered some relief to investors worried about its slowing pivot to e-commerce. The stock had dropped as much as 8% in early trading as the company’s third-quarter revenue missed market expectations on Wednesday, underscoring…
-
US FTC tries again to stop Microsoft’s already-closed deal for Activision
By Diane Bartz WASHINGTON (Reuters) -U.S. antitrust enforcers argued on Wednesday that a federal judge got it wrong when she ruled that Microsoft’s $69 billion deal to buy “Call of Duty” maker Activision Blizzard was legal under competition law, in their latest attempt to stop the deal. Microsoft closed the deal on Oct. 13 after…