Sony shares leap 12% on buyback and dividend plans, higher profit outlook
By Sam Nussey TOKYO (Reuters) - Shares in Sony Group jumped 12% in early Tokyo trading on Wednesday after the company pledged to boost shareholder returns and forecast higher annual profit with a boost from its image sensors business. The tech and ...
May 15, 2024
Huawei flagship store surge in China signals showdown with Apple
By Josh Ye HONG KONG (Reuters) - Huawei is revamping its retail strategy and aggressively opening flagship stores in China, with some just a stone's throw away from Apple shops, as it seeks to retake the premium electronics throne in the world's bi...
May 15, 2024
Australia's Iress says client data at OneVue platform compromised
(Reuters) - Australia's Iress Ltd said on Wednesday a stolen credential from its third-party user space was used to gain access to client data in the production environment of the financial services software platform OneVue over the weekend. "It ha...
May 15, 2024
China's Hailiang, Shinzoom to build auto battery plants in Morocco
By Ahmed Eljechtimi RABAT (Reuters) - Chinese auto battery manufacturers Hailiang and Shinzoom will set up two separate plants in Morocco, as the country seeks to adapt its growing automotive sector to increasing demand for electric vehicles, Moroc...
May 15, 2024
Tesla to lay off an additional 601 employees in California - government notice
SAN FRANCISCO (Reuters) - Tesla plans to lay off an additional 601 employees in California, according to its notice to government agencies on Monday. The electric carmaker said last month it will lay off 6,020 people in California and Texas, as par...
May 15, 2024
YouTube to block Hong Kong protest anthem videos after court order
MOUNTAIN VIEW, California (Reuters) -Alphabet's YouTube on Tuesday said it will comply with a Hong Kong court decision and block access to 32 video links deemed to be prohibited content. The action follows a government application granted by Hong Kong'...
May 14, 2024
OpenAI co-founder Ilya Sutskever departs
(Reuters) -OpenAI co-founder Ilya Sutskever said on Tuesday he is leaving the ChatGPT maker. "After almost a decade, I have made the decision to leave OpenAI," he said in a post on X. Sam Altman, CEO of the Microsoft-backed company said Jakub Pachocki ...
May 14, 2024
El Salvador mined nearly 474 bitcoins, adding to state crypto holding, in last three years
By Nelson Renteria SAN SALVADOR (Reuters) - El Salvador has mined nearly 474 bitcoins since 2021 thanks to a volcano-fueled geothermal power plant, official data showed on Tuesday, bringing the government's total bitcoin portfolio to nearly $354 mi...
May 14, 2024
TikTok creators file suit to block US divestment or ban law
WASHINGTON (Reuters) - A group of TikTok creators said Tuesday they filed suit in U.S. federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban i...
May 14, 2024
Chinese firms make headway in producing high bandwidth memory for AI chipsets
By Fanny Potkin and Eduardo Baptista SINGAPORE/BEIJING (Reuters) - Two Chinese chipmakers are in the early stages of producing high bandwidth memory (HBM) semiconductors used in artificial intelligence chipsets, according to sources and documents. ...
May 14, 2024
Digital bank Chime debuts advance wage product ahead of anticipated IPO
By Hannah Lang (Reuters) - U.S. digital bank Chime is launching a product that will allow customers to access up to $500 of their wages before payday, the latest move by a financial technology company to enter the fast-growing "earned wage access" ...
May 14, 2024
US federal court enforces SEC's subpoena to depose Elon Musk
SAN FRANCISCO (Reuters) - A federal court said that Elon Musk must testify again in the U.S. Securities and Exchange Commission's investigation into his $44 billion takeover of Twitter, according to a court filing on Tuesday. The SEC sued Musk in O...
May 14, 2024
Biden hikes US tariffs on Chinese imports
(Reuters) - U.S. President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports, including electric vehicle (EV) batteries, computer chips and medical products. Following are reactions to the move. ESWAR PRASAD, CORNE...
May 14, 2024
Google launches Trillium chip, improving AI data center performance fivefold
By Max A. Cherney (Reuters) - Google parent Alphabet on Tuesday unveiled a product called Trillium in its artificial intelligence data center chip family that it says is nearly five times as fast as its prior version. "Industry demand for (machine ...
May 14, 2024
Alphabet to spotlight AI innovations at developer conference
By Max A. Cherney SAN FRANCISCO (Reuters) - Alphabet is expected to announce on Tuesday how it is building on artificial intelligence across its businesses, a day after OpenAI demonstrated a new AI model that can work with sound and images in addit...
May 14, 2024
Meta to shut Workplace app to focus on AI, metaverse
(Reuters) - Meta Platforms will discontinue its work-focused Workplace app as the company shifts its focus on building artificial intelligence and metaverse technologies, the Facebook parent said on Tuesday. Workplace will be shuttered starting Jun...
May 14, 2024
Elon Musk's xAI nears $10 billion deal to rent Oracle's AI servers, The Information reports
(Reuters) -Elon Musk's artificial intelligence startup xAI has been talking to Oracle executives about spending $10 billion to rent cloud servers from the company over a period of years, The Information reported on Tuesday, citing a person involved in ...
May 14, 2024
Amazon's cloud unit CEO Adam Selipsky to step down, Matt Garman to take his place
(Reuters) -The chief executive of Amazon.com's cloud unit Amazon Web Services, Adam Selipsky, is stepping down, the company said on Tuesday. Amazon.com's shares fell 1% in early trading. Senior Vice President Matt Garman will take on Selipsky's role at...
May 14, 2024
Glass Lewis backs two dissident candidates in board fight with Crown Castle
By Svea Herbst-Bayliss NEW YORK (Reuters) - Proxy advisory firm Glass Lewis on Tuesday recommended Crown Castle investors elect two activist director candidates, including the wireless tower owner's co-founder and former chief executive officer, Te...
May 14, 2024
Shopee-owner Sea tops quarterly revenue estimates on e-commerce strength
(Reuters) - Southeast Asian technology firm Sea Ltd beat estimates for first-quarter revenue on Tuesday, driven by strong performance of e-commerce unit Shopee, sending U.S.-listed shares of the company up 7% in premarket trading. Analysts have sai...
May 14, 2024
TSMC says it could design its A16 chip-making technology without ASML's new machine
AMSTERDAM (Reuters) -Taiwanese chipmaker TSMC does not necessarily need to use ASML's next generation "High NA EUV" machines for its new chip manufacturing technology called A16, which is under development for 2027, an executive said on Tuesday. The Hi...
May 14, 2024
China's Alibaba beats quarterly revenue estimates, profit drops
(Reuters) -China's Alibaba Group Holding beat analysts' estimates for fourth-quarter revenue on Tuesday, as a focus on low-cost goods in response to cautious consumer spending helped boost domestic e-commerce sales in the three-month period. Its U.S.-...
May 14, 2024
GameStop and AMC surge evokes 2021 meme stocks saga
(Reuters) - Shares of GameStop and AMC jumped nearly 40% each in premarket trading on Tuesday, and are on track to extend gains from a day earlier when a series of posts from "Roaring Kitty" rekindled a rally reminiscent of the meme stocks trading ...
May 14, 2024
US opens probe into Alphabet's Waymo over performance of self-driving vehicles
WASHINGTON (Reuters) - U.S. auto safety regulators said Tuesday they have opened an investigation into the performance of Alphabet's Waymo self-driving vehicles after reports of its robotaxis exhibiting driving behavior that potentially violated tr...
May 14, 2024
China's Tencent posts strong revenue growth as ad sales, business services shine
By Josh Ye HONG KONG (Reuters) -China's Tencent Holdings posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations, as business services and advertising sales deliver strong revenue growth. The world's largest video gam...
May 14, 2024