AT&T, AST SpaceMobile tie up to provide space-based broadband network
(Reuters) - Telecom giant AT&T has entered an agreement with AST SpaceMobile to provide a space-based broadband network direct to cell phones, the companies said on Wednesday. Shares of AST SpaceMobile shot up nearly 49% in extended trading. (Repo...
10h ago
Cisco forecasts upbeat fourth-quarter revenue on enterprise demand
(Reuters) -Cisco Systems forecast fourth-quarter revenue above Wall Street estimates on Wednesday as the network equipment maker benefits from a pick up in enterprise spending and easing supply chain constraints. The company's shares rose 5% in trading...
10h ago
US to issue rules on Chinese connected vehicles this fall
WASHINGTON (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Wednesday that her department plans to issue proposed rules on Chinese connected vehicles this fall, citing national security risks to Americans' data. Raimondo said last week the...
11h ago
Tyson Foods unsure when tight US cattle supplies will expand, CEO says
By Tom Polansek CHICAGO (Reuters) - Tyson Foods cannot predict exactly when U.S. ranchers will start rebuilding the cattle herd in a meaningful way, CEO Donnie King said on Wednesday, as tight supplies squeeze the meatpacker's beef business. Produc...
11h ago
Bridgewater piled into Mag Seven stocks in Q1 but spurned Tesla - filings
By Carolina Mandl NEW YORK (Reuters) - Bridgewater Associates piled into six of the so-called Magnificent Seven megacap U.S. stocks in the first quarter, making an $800 million bet on Google-parent Alphabet while avoiding struggling shares of elect...
11h ago
Netflix hits 40 million users for ad-supported plan
(Reuters) - Netflix said on Wednesday its ad-supported tier has reached 40 million global monthly active users, from 5 million a year earlier, a sign that its push to attract new users with the cheaper plan is paying off. The jump comes at a time w...
11h ago
Renaissance Technologies, Two Sigma among funds that dumped Boeing in first quarter
By David Randall NEW YORK (Reuters) - Renaissance Technologies, Two Sigma Investments and Arrowstreet Capital were among large firms that sold all their shares of embattled aircraft maker Boeing Co in the first quarter, according to securities fili...
12h ago
IMF board approves members to channel reserve assets to MDBs for hybrid instruments
By Andrea Shalal WASHINGTON (Reuters) - The International Monetary Fund on Wednesday said its executive board has approved members to use their Special Drawing Rights (SDRs), or IMF reserve assets, to acquire so called hybrid capital bonds issued b...
13h ago
US Congress passes broad aviation safety, consumer bill
WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday overwhelmingly passed a broad aviation bill to boost air traffic controller staffing, increase funding to avert runway close-call incidents, and speed refunds for canceled flight...
13h ago
Explainer-Austria's Raiffeisen faces US wrath over Russian business
LONDON/FRANKFURT (Reuters) - The U.S. Treasury has warned Austria's Raiffeisen Bank International (RBI) that its access to the U.S. financial system could be restricted because of its Russian dealings, according to a person who has seen a letter de...
13h ago
Swedish investor AP7 to back study on Mondelez Russia business
By Jessica DiNapoli NEW YORK (Reuters) - At least one Mondelez investor, Swedish pension fund AP7, will back a resolution calling for the Oreo cookie maker to conduct an independent study of the risks of continuing to do business in Russia, which f...
13h ago
Fed gets some good news on inflation progress
By Ann Saphir (Reuters) - Federal Reserve policymakers waiting to see renewed progress on inflation before reducing borrowing costs got some encouraging data on Wednesday with a government report showing inflation eased a bit in April. The 3.4% ...
13h ago
KKR remedies on Telecom Italia deal expected next week, source says
(Corrects day of week in first paragraph) By Elvira Pollina ROME (Reuters) - U.S. investment firm KKR will likely offer remedies next week in an attempt to secure EU antitrust approval to buy Telecom Italia's (TIM) fixed-line access network, a pers...
14h ago
Airbus unveils half-plane, half-copter in quest for speed
MARIGNANE, France (Reuters) - Airbus Helicopters showcased an experimental half-plane, half-helicopter on Wednesday in a quest for speed as competition heats up to define the rotorcraft of the future. The Racer is a one-off demonstrator model that ...
15h ago
Trafigura, IXM caught in Comex copper short squeeze as prices hit record
By Julian Luk, Pratima Desai, Siyi Liu and Eric Onstad LONDON/BEIJING (Reuters) - Commodity traders Trafigura and IXM are seeking physical copper to cover large bearish positions on the CME, where U.S. copper prices surged to record highs on Wednes...
15h ago
Video game maker Ubisoft swings to full-year operating profit on record bookings
By Gaelle Sheehan (Reuters) - French video games group Ubisoft swung to an operating profit for its full-year to end-March, it said on Wednesday, as record bookings helped it reverse a year earlier loss of 500 million euros, its biggest ever. Ubiso...
16h ago
Anthropic taps Instagram co-founder as product chief
(Reuters) - Artificial intelligence startup Anthropic has appointed Instagram co-founder Mike Krieger as its chief product officer, the company said on Wednesday, it looks to spruce up its AI offerings and get ahead of rivals. Krieger will oversee ...
16h ago
Bernanke urges Bank of England to debate publishing rate projections
(Reuters) - Former U.S. Federal Reserve chair Ben Bernanke said on Wednesday he would be "disappointed" if the Bank of England did not debate the possibility of publishing its own projections for the likely path of interest rates. Bernanke, who aut...
16h ago
Column-China tariffs could boost Fed rate cut case: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) - Escalation of the U.S.-China trade war seems unavoidable whoever wins the White House in November, but the equally inevitable inflationary pressures that brings won't automatically steer the Federal Re...
16h ago
Uber unveils US shuttle service, expands Costco tie-up to woo price-conscious users
By Yuvraj Malik and Arsheeya Bajwa (Reuters) - Uber Technologies is introducing a shuttle service in the U.S. and widening a delivery tie-up with membership-only retailer Costco as part of a series of initiatives unveiled on Wednesday to attract p...
16h ago
US crude stocks, gasoline and distillate inventories fall, EIA says
DENVER (Reuters) - U.S. crude stocks, gasoline and distillate inventories fell in the week ending May 10, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 2.5 million barrels to 457 million barrels in the wee...
16h ago
US fines Volaris $300,000 for violating tarmac delay rules
WASHINGTON (Reuters) - The U.S. Transportation Department said Wednesday it had fined Mexican carrier Volaris Airlines $300,000 for violating federal law on airport tarmac delays. Federal law and government regulations prohibit tarmac delays of fou...
16h ago
US consumer prices rise less than expected in April; core CPI slows
WASHINGTON (Reuters) - U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut...
17h ago
U.S. homebuilder sentiment tumbles as rates slow buyer traffic
(Reuters) - U.S. homebuilder sentiment soured in May for the first time in six months as high interest rates on home loans kept potential customers on the sidelines and more builders had to offer incentives to lure buyers, data out Wednesday showed...
17h ago
Goldman Sachs hires from rivals to expand in mid-market deals
By Anirban Sen NEW YORK (Reuters) - Goldman Sachs told Reuters it has hired two investment bankers, Kerry Burke and Eddie Rubin, from Evercore and Lazard, respectively, as part of a push to double down on its business that focuses on advising on de...
17h ago