Category: Business
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UAW commits $40 million to organizing US auto, EV battery workers
By David Shepardson and Kannaki Deka WASHINGTON (Reuters) -The United Auto Workers (UAW) said on Wednesday it would commit $40 million to organizing non-union automobile and EV battery workers in the United States over the next two years. The UAW said in November it was launching a first-of-its-kind push to publicly organize the entire non-union…
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S&P 500, Dow close slightly up; Nvidia gains after the bell
By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 and Dow Jones industrials eked out small gains on Wednesday, while the Nasdaq closed lower for a third straight session as investors awaited the release of Nvidia’s earnings that could determine near-term momentum for equities. After the closing bell, Nvidia shares surged 6% after it…
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Oil rises 1% on signs of tightening supplies
By Shariq Khan NEW YORK (Reuters) -Oil prices rose 1% on Wednesday as geopolitical tensions raged on in the Middle East and traders assessed signs of near-term supply tightness. U.S. West Texas Intermediate crude futures (WTI) rose 87 cents, or 1.1%, to settle at $77.91 a barrel, while Brent crude rose 69 cents, or 0.8%,…
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Google brings Gemini AI models to enterprise tools
(Reuters) – Google said on Wednesday that some of its artificial intelligence tools that it offers to businesses will be powered by the company’s “Gemini” AI models and available at a lower-priced plan as it looks to compete with Microsoft-backed OpenAI. The Alphabet unit in August last year introduced “Duet AI in Workspace”, a set…
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Capital One-Discover deal adds rival to Visa and Mastercard, easing antitrust concerns
By Niket Nishant, Manya Saini and Carolina Mandl (Reuters) -Capital One Financial’s $35.3 billion deal for Discover Financial would create new competition for payments behemoths Visa and Mastercard, potentially helping smoothen the path for regulatory approval, analysts said. The all-stock deal announced on Monday would create the biggest U.S. credit card issuer, but it would…
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Nvidia dethrones Tesla as Wall Street’s most traded stock
By Noel Randewich (Reuters) -Chipmaker Nvidia is replacing Tesla as Wall Street’s most traded stock by value, adding to its prominence after becoming the third-most valuable U.S. company and showing more evidence of how central AI-related bets have become to investors. Nvidia’s outsized representation in day-to-day stock trading could leave investors more vulnerable should the…
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Nvidia’s stock rally sputters ahead of quarterly report
(Reuters) – A scorching rally in Nvidia’s shares this year came to a halt on Tuesday as investors worried if the high-flying chip designer’s quarterly results would justify its towering valuation. The stock fell 5.3% to $687.91. If losses hold, it could be the biggest percentage drop in more than eight months. Nvidia has been…
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Surging rocket motor demand drives Pentagon to buy from upstart Ursa Major
By Mike Stone WASHINGTON (Reuters) -Desperate to address surging demand for solid fuel rocket engines, the Pentagon is close to giving a contract for new motors to the untested, privately held startup Ursa Major, according to two sources familiar with the situation. While rocket motors themselves are relatively inexpensive, they play a vital role in…
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Capital One to buy Discover Financial in $35.3 billion all-stock deal
By Anirban Sen and Michelle Price NEW YORK/WASHINGTON (Reuters) -Warren Buffett-backed U.S. consumer bank Capital One plans to acquire U.S. credit card issuer Discover Financial Services in an all-stock transaction valued at $35.3 billion to create a global payments giant, the companies said on Monday. The deal, which is expected to receive intense antitrust scrutiny,…
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Oil settles up, records weekly gain on Middle East tensions
By Nicole Jao NEW YORK (Reuters) -Oil prices settled higher on Friday as geopolitical tensions in the Middle East more than offset a forecast from the International Energy Agency for slowing demand. Brent crude futures settled up 61 cents, or 0.74% at $83.47 a barrel. U.S. West Texas Intermediate crude settled $1.16, or 1.49%, higher…