Cruise operator Viking prices IPO within range to raise $1.54 billion, source says
By Echo Wang (Reuters) - Cruise operator Viking Holdings priced its initial public offering within its targeted range at $24 per share on Tuesday, according to a person familiar with the matter. The IPO raised $1.54 billion based on 64.04 million s...
1h ago
Japan's factory activity falls slow, PMI shows
TOKYO (Reuters) - Japan's factory activity shrank at a slower pace in April as declines in output and new orders eased, a private-sector survey showed on Wednesday. Inflationary pressure continued but firms found market demand was strong enough to ...
2h ago
AI fuels cloud computing boom for tech giants
By Yuvraj Malik (Reuters) - Three of the Wall Street's heavyweight technology firms have reported better-than-expected sales at their cloud computing units in recent days, as interest in artificial intelligence drives a rebound in spending by corpo...
2h ago
Caesars Entertainment misses quarterly estimates on Las Vegas business hit
(Reuters) - Caesars Entertainment missed market expectations for first-quarter results on Tuesday, as record levels of occupancy driven by the Super Bowl and visits for the Chinese New Year were offset by low table hold in its Las Vegas segment. Sh...
3h ago
'Bitcoin Jesus' arrested in Spain on US tax evasion charges
By Nate Raymond (Reuters) - An early investor in bitcoins dubbed the "Bitcoin Jesus" has been arrested in Spain on U.S. charges that he evaded paying at least $48 million in taxes, the U.S. Department of Justice said on Tuesday. Roger Ver, 45, was ...
4h ago
US FCC resumes full oversight of broadband service providers
By David Shepardson WASHINGTON (Reuters) -The Federal Communications Commission (FCC) said on Tuesday it has terminated a 2017 memorandum of understanding with the Federal Trade Commission that had shifted some oversight of broadband service providers....
4h ago
Australian bank Westpac extends moratorium on regional branch closures till 2027
(Reuters) - Westpac Banking Corp has pushed back the closures of its regional branches until at least 2027 and will invest more than A$150 million over the next two years to improve services at these branches, the lender said early on Wednesday. "W...
4h ago
Amazon forecasts quarterly revenue below estimates
By Yuvraj Malik and Greg Bensinger (Reuters) -Amazon.com forecast second-quarter revenue below Wall Street expectations on Tuesday, as it expects tepid spending from cost-conscious businesses on its cloud-computing services. First-quarter sales increas...
4h ago
Pinterest forecasts quarterly revenue above estimates on robust ad spend
(Reuters) - Pinterest forecast second-quarter revenue above Wall Street estimates on Tuesday, expecting a boost from growing advertising spend on the image-sharing platform. The company has benefited from marketers turning to the digital platform t...
4h ago
Super Micro misses quarterly revenue estimates on stiff competition, shares fall
(Reuters) -Super Micro Computer reported third-quarter revenue below estimates on Tuesday, hurt by stiff competition in the server-making industry, however it forecast fourth-quarter revenue above estimates as it expects steady demand for its AI server...
4h ago
Starbucks reports surprise drop in same-store sales; shares tumble
By Juveria Tabassum (Reuters) -Starbucks on Tuesday reported a fall in same-store sales for the first time in about three years as it battled weak demand for its coffees in the U.S. and China, its two biggest markets, sending its shares down 11% in ext...
4h ago
Mondelez International beats Q1 sales, profit estimates on higher prices
By Anuja Bharat Mistry (Reuters) -Cadbury parent Mondelez International beat market expectations for first-quarter sales and profit on Tuesday helped by steady demand for its pricey products such as chocolates and salted crackers, despite rising costs....
4h ago
Chesapeake Energy misses quarterly profit estimates as natgas prices remain low
(Reuters) -Natural gas producer Chesapeake Energy Corp missed Wall Street estimates for first-quarter profit on Tuesday as persistently low natural gas prices weighed down on the company's top-line results. Natural gas prices had dropped 20.4% in the f...
4h ago
Clorox lifts annual profit forecast on pricing benefits
(Reuters) - Clorox Co raised its annual profit forecast on Tuesday after beating quarterly earnings expectations, banking on effects of price hikes taken to offset escalating costs. Consumer good companies, including Clorox, have been increasing pr...
4h ago
Musk disbands Tesla EV charging team, leaving customers in the dark
By Joseph White, Akash Sriram and Nora Eckert DETROIT (Reuters) -Elon Musk's abrupt decision to lay off employees who ran Tesla's electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Superc...
4h ago
Trump social media firm's rising shares pressure short-sellers, S3 says
By David Randall NEW YORK (Reuters) - Short-sellers in Trump Media & Technology Group are feeling the heat from the recent rally in the company's stock and the higher cost of borrowing its shares, analytics firm S3 Partners said. Shares of the comp...
4h ago
Australian retailer Woolworths to sell $303 million stake in Endeavour Group
(Reuters) - Australian retailer Woolworths on Wednesday said it was selling a 5% stake in Endeavour Group, which operates liquor stores and pubs, generating proceeds of A$468 million ($302.98 million). The sale will happen via a block trade at a pr...
4h ago
Chipmaker AMD narrowly beats first-quarter revenue estimates
(Reuters) -Advanced Micro Devices beat first-quarter revenue estimates by a small margin on Tuesday as tepid demand for semiconductors used in traditional data centers added to weakness in the market for gaming chips. Shares of the Santa Clara, Califor...
4h ago
Explainer-How US change on marijuana would help cannabis companies
By Mrinalika Roy (Reuters) - The U.S. Justice Department is moving to make marijuana use a less serious federal crime with a proposal to reclassify the drug as on par with Tylenol with codeine, rather than heroin, according to sources. Here are som...
4h ago
EV maker Polestar to delay fourth-quarter results for a second time
(Reuters) - Swedish electric-vehicle maker Polestar Automotive will delay the publication of its fourth-quarter and full-year 2023 financial results for a second time, a spokesperson for the company said on Tuesday. Polestar did not provide a date ...
4h ago
IBM wins reversal of $1.6 billion judgment to BMC over software contract
(Reuters) - A federal appeals court on Tuesday overturned a judgment requiring IBM to pay rival BMC Software $1.6 billion, after a judge found IBM improperly replaced BMC's mainframe software at AT&T with its own. The 5th U.S. Circuit Court of Appe...
5h ago
Trump raises stake in his media firm to nearly 65%
(Reuters) - Donald Trump has raised his stake in the company that operates his social media app Truth Social to nearly 65% as of last week, according to a filing on Tuesday. The former U.S. president and Republican presidential candidate secured 36...
5h ago
Pot stocks jump as U.S. DOJ moves to reclassify cannabis as a less dangerous drug
(Reuters) - Shares of cannabis companies surged on Tuesday afternoon after the U.S. Department of Justice (DoJ) moved to reclassify marijuana as a less dangerous drug. U.S.-listed shares of Cronos Group, Tilray Brands and Canopy Growth rose between...
8h ago
US labor official calls on companies to exit China's Xinjiang
WASHINGTON (Reuters) - International companies cannot responsibly operate in Xinjiang and should leave the western Chinese region due to forced labor concerns, a U.S. Labor Department official said on Tuesday. The U.S. government says Chinese offic...
8h ago
US newspapers sue OpenAI for copyright infringement over AI training
By Blake Brittain (Reuters) - A group of newspapers, including the New York Daily News and Chicago Tribune, sued Microsoft and OpenAI in New York federal court on Tuesday, accusing them of misusing reporters' work to train their generative artifici...
8h ago