Category: Business

By Jonathan Stempel (Reuters) -EBay agreed to pay $59 million and upgrade compliance measures to resolve U.S. Department of Justice allegations it didn’t try hard enough to stop criminals from buying devices for making counterfeit drugs, including pills laced with fentanyl. Wednesday’s settlement arose from eBay’s alleged inadequate monitoring since October 2015 of thousands of…

By Yuvraj Malik (Reuters) – Microsoft is expected to report a 15.8% jump in quarterly revenue, its best growth in nearly two years, as rising adoption of its products infused with generative AI fuels demand for its cloud services. Thanks to its early lead in artificial intelligence, Microsoft is likely to cement its lead as…

By Mimosa Spencer PARIS (Reuters) -Investors dived back into top luxury shares on Friday, adding some $70 billion to their market value as LVMH’s latest sales figures reassured investors about the sector’s resilience to economic headwinds, particularly in China. The buying spree helped recoup some of last year’s losses after China’s economic revival proved lacklustre…

By Jasper Ward and Krystal Hu WASHINGTON (Reuters) -The U.S. Federal Trade Commission said on Thursday it had ordered OpenAI, Microsoft, Alphabet, Amazon and Anthropic to provide information on recent investments and partnerships involving generative AI companies and cloud service providers. Generative AI, which like ChatGPT uses data to create new content, has drawn attention…

By Rajesh Kumar Singh, Abhijith Ganapavaram and David Shepardson (Reuters) -Boeing’s troubles with its 737 MAX jets are upending the aerospace industry’s 2024 plans, changing airlines’ fleet and expansion goals as U.S. regulators froze production of the best-selling jets. The Federal Aviation Administration ramped up scrutiny of Boeing after a frightening Jan. 5 incident when…

By Aditya Soni (Reuters) -Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world’s most valuable automaker and fueled investor concerns about soft demand and Chinese competition. Musk said on Wednesday that growth would be “notably lower”…

By Toby Sterling VELDHOVEN, Netherlands (Reuters) -ASML Holding shares gained nearly 10% to close at a record high on Wednesday following fourth-quarter earnings that beat expectations and a growing order backlog that points to a computer chip market recovery. Europe’s largest technology company by market value maintained an outlook for flat sales in 2024 as…

PARIS (Reuters) – Power generated from low-emissions sources, such as wind, solar and nuclear, will be adequate to meet growth in global demand for the next three years, the International Energy Agency (IEA) said, adding power sector emissions are on the decline. Following record growth, electricity generation from low-emissions sources will account for almost half…

By Amina Niasse NEW YORK (Reuters) -Unemployment rates increased in 15 U.S. states in December, up by three from the prior month, but was unchanged in the majority of states and the District of Columbia, a report showed on Tuesday. Nonfarm payroll employment levels, meanwhile, remained essentially unchanged in all states last month from November,…

By Seher Dareen (Reuters) – Halliburton beat quarterly profit expectations on Tuesday, helped by strength in its drilling and evaluation business, especially in overseas markets, sending its shares up more than 2%. With a better economic environment and acreages internationally, oilfield services are setting their sights outside the United States to grow, with the North…