Year: 2023
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Paychex’s quarterly revenue growth slows on weak client spending
(Reuters) – Payroll services provider Paychex reported its slowest rise in quarterly revenue in over two years on Thursday, hurt by tepid spending by businesses and a slower pace of hiring, sending its stock down 6%. Shares of the Rochester, New York-based company fell to $120 in early trading. The number of Americans filing new…
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US vehicles set fuel economy record in 2022 as EV sales climb
By David Shepardson WASHINGTON (Reuters) -U.S. new vehicles set a record high for fuel economy in 2022, with the biggest yearly improvement in nine years to an average of 26 miles per gallon (mpg) as electric vehicle sales jumped but the Detroit Three automakers continued to lag rivals. Vehicles were up 0.6 mpg over 2021…
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Microsoft shelves Windows ‘mixed reality’ feature
(Reuters) – Microsoft on Thursday discontinued the “mixed reality” feature for Windows through which some hardware devices and software could tap into augmented and virtual reality technologies. The company launched the feature in a Windows 10 update in 2017, and the mixed reality portal app allowed users to access the technology on their personal computers…
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Honda recalling about 4.5 million vehicles worldwide over fuel pump issue
By David Shepardson WASHINGTON (Reuters) -Honda Motor’s American unit is recalling about 4.5 million vehicles worldwide over risks of fuel pump failure, the Japanese automaker said. The recall includes 2.54 million vehicles in the United States and comes after the automaker previously recalled 628,000 U.S. vehicles in 2021 and 136,000 in 2020 for the same…
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Toyota recalling 1.12 million vehicles over potential air bag issue
By David Shepardson WASHINGTON (Reuters) -Toyota Motor said on Wednesday it will recall 1.12 million vehicles worldwide because a short circuit in a sensor could cause air bags not to deploy as designed. The recall covers 2020 through 2022 model year vehicles including various Avalon, Camry, Corolla, RAV4, Lexus ES250, ES300H, ES350, RX350 Highlander and…
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Pulitzer-winning authors join OpenAI, Microsoft copyright lawsuit
By Blake Brittain (Reuters) – A group of 11 nonfiction authors have joined a lawsuit in Manhattan federal court that accuses OpenAI and Microsoft of misusing books the authors have written to train the models behind OpenAI’s popular chatbot ChatGPT and other artificial-intelligence based software. The writers, including Pulitzer Prize winners Taylor Branch, Stacy Schiff…
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US ‘buy now, pay later’ splurges raise holiday debt hangover risk
By Lisa Baertlein and Arriana McLymore LOS ANGELES/NEW YORK (Reuters) -Roxanne Ross of Florida is one of a growing number of Americans dodging higher interest rates on credit cards by instead turning to “buy now, pay later” services as they shop for holiday merchandise. Ross has her eyes on the latest Apple AirPods for $249.…
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Analysis-Global banks see no recession, US companies are more circumspect
By Vidya Ranganathan and Gaurav Dogra SINGAPORE (Reuters) – Heading into 2024, analysts say the U.S. recession they’d been forecasting for two years isn’t coming anymore. Everyone else, from companies to investors, is still bracing for a slowdown caused by tepid consumer demand. Dissonance between the habitually bullish investment bank analysts and the more circumspect…
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Egypt raises $800 million from hotels in divestment drive – PM
By Patrick Werr CAIRO (Reuters) -Egypt’s sovereign wealth fund has signed an $800 million deal to sell a stake in seven prominent hotels to Egypt’s Talaat Moustafa Group (TMG) in its drive to raise funds and foreign currency, Prime Minister Mostafa Madbouly said on Wednesday. Revenues from selling stakes in state assets have reached $5.6…
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FAA has no ‘specific timetable’ to approve Boeing 737 MAX 7 -administrator
By David Shepardson and Valerie Insinna ARLINGTON, Virginia (Reuters) – The Federal Aviation Administration has no “specific timetable” to certify the Boeing 737 MAX 7, the agency’s top official told Reuters on Tuesday, despite the planemaker previously expecting that to occur by the end of this year. FAA Administrator Michael Whitaker said the agency will…