US prosecutors examining financial transactions at Block, NBC News reports
(Reuters) - U.S. prosecutors are examining financial transactions at Block, NBC News reported on Wednesday, citing two people with direct knowledge of the matter. NBC reported that federal prosecutors were discussing with a former employee alleged ...
6h ago
Global Payments forecasts full-year profit above estimates on strong spending
(Reuters) - Global Payments forecast better-than-expected profit for 2024 on Wednesday, as a strong labor market boosts consumer spending. Payment technology companies have largely downplayed worries of a spending slowdown despite higher-for-longe...
8h ago
Roblox players to start seeing video ads in its virtual realms
(Reuters) - Roblox is rolling out virtual billboards with video advertisements, the gaming platform said on Wednesday, in its latest move to draw revenue from its games that are mostly free to play. Users will now see billboards featuring content f...
8h ago
Verisk's first-quarter profit beats on insurance-focused analytics demand
(Reuters) - Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&C) insurers to assess underwriting risks. WHY IT'S IMPORTANT P&C insurers' earnin...
8h ago
AMD, Super Micro tumble as earnings fall short of lofty AI expectations
(Reuters) - Shares of Advanced Micro Devices and Super Micro Computer sank on Wednesday, sparking a selloff in chip stocks, after their earnings disappointed investors who have piled into the sector on hopes rising AI investments would boost demand...
9h ago
ADP beats estimates as strong job market aids demand for payroll services
(Reuters) - Payroll processor Automatic Data Processing beat estimates for third-quarter revenue and profit on Wednesday, driven by steady demand for its payroll software and new bookings. U.S. job growth accelerated from January through March, and...
9h ago
CDW Corp's first-quarter results miss on weak IT spending
(Reuters) - CDW Corp missed analysts' estimates for first-quarter results on Wednesday, hurt by weak demand for its IT solutions as customers cut back their technology budgets, sending the company's shares down about 5.5% before the bell. Businesse...
9h ago
Garmin's Q1 results beat on strong demand for fitness, auto products
(Reuters) - Swiss navigation device maker Garmin topped Wall Street expectations for first-quarter results on Wednesday, benefiting from new launches and strong demand for its products in fitness and auto segments. Garmin, which offers GPS devices...
9h ago
Apple set for big sales decline as investors await AI in iPhones
By Yuvraj Malik (Reuters) - Apple's plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in mor...
10h ago
OnlyFans faces UK probe into age-verification measures
(Reuters) - Britain's media regulator Ofcom has opened an investigation into OnlyFans, it said on Wednesday, looking into whether the adults-only website is doing enough to prevent children accessing pornography on its platform. "Having reviewed su...
11h ago
Most Americans see TikTok as a Chinese influence tool, Reuters/Ipsos poll finds
By Jason Lange and David Shepardson WASHINGTON (Reuters) - - A majority of Americans believe that China uses TikTok to shape U.S. public opinion, according to a Reuters/Ipsos poll conducted as Washington moves closer to potentially banning the Chin...
11h ago
Bitcoin slides below $58,000, rattled by tougher Fed rate outlook
LONDON (Reuters) - Bitcoin fell for a third day on Wednesday, having posted its worst monthly performance in April since late 2022, ahead of an interest rate decision by the Federal Reserve later and key U.S. labour market data. The value of the wo...
14h ago
Novo Nordisk owner to invest $200 million in quantum computing startups
By Martin Coulter LONDON (Reuters) - Novo Holdings, the controlling shareholder of Danish obesity drugmaker Novo Nordisk, said on Wednesday it plans to invest around $200 million in quantum computing startups. The company, the investment arm of the...
15h ago
Microsoft to power data centers with Brookfield renewables deal, FT says
(Reuters) - Canada's Brookfield Asset Management is set to develop new wind and solar farms with backing from tech giant Microsoft in an attempt to bring 10.5 gigawatts of generating capacity online, the Financial Times reported on Wednesday. Micro...
15h ago
Huawei's high-profile consumer boss Richard Yu shifts role
(Reuters) - China's Huawei Technologies has named the high-profile chief of its consumer business, Yu Chengdong, to a new role chairing the unit, a person with knowledge of the matter said. The move was announced within Huawei last week, the person...
15h ago
Microsoft to open first regional data centre in Thailand
BANGKOK (Reuters) - Microsoft will open its first regional data centre in Thailand, the tech giant said on Wednesday, as it looks to widen availability of cloud services. Areas that would also benefit were enterprise-grade reliability, performance,...
17h 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...
20h ago
Skyworks forecasts third-quarter revenue below estimates
(Reuters) - Apple supplier Skyworks Solutions forecast third-quarter revenue below Wall Street estimates on Tuesday on demand concerns, as clients struggle to offload excess inventory, sending its shares down 6% in extended trading. The chip com...
23h 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...
23h 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...
23h 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...
23h 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...
23h 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...
23h 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...
23h ago
Almost all US hospitals took financial hit from Change hack, AHA says
By Amina Niasse NEW YORK (Reuters) - Almost all U.S. hospitals were hurt financially by the cyberattack on United Health Group's Change Healthcare unit earlier this year, according to a survey from the American Hospital Association (AHA). The AHA s...
23h ago