Japan's GDP contracts, complicating BOJ's rate hike plans
By Satoshi Sugiyama and Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy contracted in the first quarter, squeezed by weaker private consumption and external demand and throwing a fresh challenge to policymakers as the central bank looks to lift...
1h ago
Hedge fund Coatue scraps its Apple stake in Q1, while Viking built its position
By Carolina Mandl NEW YORK (Reuters) - Hedge fund Coatue Management dissolved its stake in Apple Inc in the first quarter while Viking Global Investors built a sizeable new position, securities filings showed on Wednesday. Coatue, founded by Phi...
1h ago
Norway sovereign wealth fund excludes three companies over ethical concerns
(Reuters) -Norway's central bank said on Wednesday that its executive board has decided to exclude three companies from its government pension fund over ethical concerns. Norges Bank, which manages the sovereign wealth fund, said in a statement it has ...
2h ago
IBM to add 800 AI-related jobs in Ireland
DUBLIN (Reuters) - IBM plans to hire up to 800 more people in Ireland to help build advanced software underpinned by AI technology, the biggest job announcement in the country's multinational sector this year, state investment agency IDA Ireland sa...
2h ago
Trump Media says it will delay quarterly filing due to auditor change
(Reuters) - Trump Media & Technology filed a notice to the U.S. Securities and Exchange Commission on Wednesday that it would delay its quarterly filing as it recently replaced its auditor after the regulator had charged the auditor with "fraud". F...
2h ago
Soros Fund Management dissolves stake in NYCB, buys Goldman Sachs shares
(Reuters) - Soros Fund Management has dissolved its share stake in embattled lender New York Community Bancorp in the first quarter of 2024, a regulatory filing showed on Wednesday. The family office of billionaire George Soros previously held abou...
2h ago
Bitcoin ETFs drew bets from Millenium Global, Wisconsin Retirement System in Q1
By Suzanne McGee and Hannah Lang (Reuters) -A handful of hedge funds, including Millennium Management LLC, and other asset managers are among the institutions that acquired stakes in the recently launched U.S. exchange-traded funds (ETFs) tied to the p...
2h ago
Berkshire reveals $6.72 billion stake in insurer Chubb
By Jonathan Stempel (Reuters) - Warren Buffett's Berkshire Hathaway on Wednesday revealed a new, $6.72 billion stake in the insurer Chubb, ending months of speculation that it had made a big new investment. In a regulatory filing describing its U.S...
3h ago
Disney to dramatically cut spending for traditional TV networks
By Lisa Richwine (Reuters) - Walt Disney will cut its investment in programming for traditional television networks pretty dramatically as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said on Wednesday. Iger said ...
3h ago
Kansas City Fed sets Jackson Hole conference dates Aug 22-24
(Reuters) - The Federal Reserve Bank of Kansas City on Wednesday said its annual central banking conference in Jackson Hole, Wyoming, will take place from Aug. 22-24. The event, one of the premier global central bank gatherings of the year, which t...
3h ago
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...
4h 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...
4h 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...
5h 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...
5h 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...
5h 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...
5h 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...
6h 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...
6h 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...
6h 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...
6h 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...
7h 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% ...
7h 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...
8h 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 ...
8h 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...
8h ago