Category: Business
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Would-be spot bitcoin ETF issuers kick off fee war ahead of approval deadline
By Niket Nishant, Hannah Lang and Suzanne McGee (Reuters) -A raft of investment managers on Monday disclosed the fees they plan to charge for their proposed spot bitcoin exchange-traded funds (ETF), in another step toward approval this week by the U.S. securities regulator. BlackRock, VanEck, Ark Investments/21Shares and Bitwise, among others, said in filings with…
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Netflix beats shareholder lawsuit over account-sharing disclosures
(Reuters) – Netflix has defeated a lawsuit filed by shareholders in a federal court in California that accused the streaming entertainment company of hiding the extent to which account-sharing was hindering its growth. A Texas-based investment trust sued in May 2022, after Netflix shares lost a third of their value when the company said subscribers…
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US Supreme Court rejects X Corp’s surveillance disclosure challenge
By Nate Raymond (Reuters) -The U.S. Supreme Court on Monday rejected a request by Elon Musk’s X Corp to consider whether the social media company, formerly called Twitter, can publicly disclose how often federal law enforcement seeks information about users for national security investigations. The justices declined to hear X’s appeal of a lower court’s…
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Microsoft, OpenAI hit with new lawsuit by authors over AI training
By Blake Brittain (Reuters) – OpenAI and its financial backer Microsoft were sued on Friday in Manhattan federal court by a pair of nonfiction authors who say the companies misused their work to train the artificial-intelligence models behind the popular chatbot ChatGPT and other AI-based services. Writers Nicholas Basbanes and Nicholas Gage told the court…
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Nvidia expands its reach in China’s EV sector
By Joseph White DETROIT (Reuters) – Nvidia said four Chinese electric vehicle brands will use its technology as the brains for automated driving systems, underscoring the U.S. chip maker’s determination to expand in China despite Washington’s tighter export rules. Chinese automakers Li Auto, Great Wall Motor, Zeekr and the new EV unit of Chinese telecommunications…
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Global EV market growth to slow this year on lower subsidies – report
(Reuters) – Growth in the global electric-vehicle market is set to slow to 27.1% this year as a reduction in state subsidies makes the cars less appealing to buyers, according to research firm Canalys. The figure follows an estimated growth of 29% in 2023 at 13.7 million units, when government incentives helped the adoption of…
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Berkshire Hathaway settles valuation dispute with Pilot
(Reuters) – Warren Buffett’s Berkshire Hathaway and Pilot on Sunday said they had reached an agreement to settle a Delaware lawsuit and resolve a dispute over the valuation of billionaire Jimmy Haslam’s truck stop chain. Berkshire and Pilot have agreed to settle the Delaware litigation, including all claims and counterclaims, between Pilot and Berkshire Hathaway,…
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Nippon Steel confident of completing US Steel acquisition
By Yuka Obayashi TOKYO (Reuters) – Japan’s top steelmaker Nippon Steel is confident of successfully completing its planned acquisition of U.S. Steel, despite opposition from labour union and certain U.S. senators, its president said on Friday. The world’s fourth-largest steelmaker’s planned $14.9 billion deal has drawn criticism from Democratic and Republican lawmakers and the powerful…
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US factory orders rebound in November
WASHINGTON (Reuters) – New orders for U.S.-made goods increased more than expected in November amid a surge in demand for civilian aircraft, government data showed on Friday Factory orders rose 2.6% after declining by 3.4% in October, the Commerce Department’s Census Bureau said. Economists polled by Reuters had forecast orders would rebound by 2.1%. Orders…
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Google must bargain with YouTube worker union, US labor board rules
By Daniel Wiessner (Reuters) -Alphabet Inc’s Google violated U.S. labor law by refusing to bargain with a union representing contract workers for YouTube Music, a federal agency has ruled. The National Labor Relations Board (NLRB) in a decision on Wednesday rejected claims by Google, which owns YouTube, that it should not be considered the employer…