PARIS (Reuters) -France’s antitrust agency is investigating Microsoft over concerns that it is degrading the quality of results when smaller rivals pay to use Bing technology in their own search-engine products. “We are fully cooperating with the Autorite’s investigation,” a Microsoft spokesperson said, referring to the regulator’s French name. Bloomberg reported the investigation earlier on…
By Jeffrey Dastin (Reuters) – Intel’s upbeat revenue projections on Thursday masked a sore point for the embattled company: chips touted for artificial intelligence have not lived up to sales expectations. The chipmaker scrapped its recent forecast that in 2024 it would sell more than $500 million worth of Gaudi accelerator chips, so called because…
By Michael S. Derby (Reuters) -The Federal Reserve’s latest Monetary Policy Report to Congress, released on Friday, was upbeat about the state of the economy but warned about some concerning aspects of the financial system. The report, which comes ahead of next week’s testimony before Congress by Fed Chair Jerome Powell, said central bank officials…
(Reuters) – NATO-member defense spending may come back into focus as former U.S. President Donald Trump returns to office. Republican Trump, 78, was elected president on Wednesday, defeating Democratic candidate Kamala Harris. He previously served as U.S. president from 2017 to 2021. In congratulating Trump on his election, NATO Secretary General Mark Rutte said that…
By Sourasis Bose (Reuters) -Canada’s Barrick Gold missed Wall Street estimates for third-quarter profit on Thursday, weighed down by higher costs and lower production at its Nevada mines. Total gold output at Nevada Gold Mines fell to 385,000 ounces in the July-to-September quarter, compared with 401,000 ounces in the preceding three months, the company reported…
By Jonathan Stempel (Reuters) -Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, further slashing holdings in Apple and boosting cash to a record $325.2 billion. In its quarterly report on Saturday, Berkshire said it sold about 100 million, or 25%, of its Apple shares over the summer, ending with…
By Jamie McGeever ORLANDO, Florida (Reuters) – When Federal Reserve Chair Jerome Powell and his colleagues meet this week to discuss their next interest rate move, they’ll face a much more complicated situation than they did only two months ago, due to the historic rise in long-dated Treasury yields since the central bank’s jumbo rate…
(Reuters) – Emerson Electric said on Monday that its $265 per-share offer to acquire Aspen Technology was its “best and final” price. The announcement comes days after activist investor Elliott Management said it invested over $1.5 billion in Aspen, opposing the company’s decision to accept Emerson’s $7.2 billion tender offer. “Our break price is ~$202…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, priced in on Thursday another 25-basis-point rate cut next month, after the Federal Reserve lowered rates by the same magnitude at the end of its two-day policy meeting. Rate futures also implied…
(Reuters) -Lucid beat Wall Street expectations for third-quarter revenue on Thursday and reiterated its annual production forecast as it benefits from strong demand for its luxury electric sedans. Lucid shares rose 8% in trading after the bell. The company reported third-quarter revenue of $200 million, narrowly beating estimates of $198 million, according to data compiled…
