By Arsheeya Bajwa (Reuters) – Nvidia forecast third-quarter gross margin on Wednesday that could miss market estimates and revenue that was largely in line, failing to impress investors who have driven a dizzying rally in its shares as they bet billions on the future of AI. Shares of the Santa Clara, California-based company were down […]
US Supreme Court declines to revive Biden’s student debt relief plan
By John Kruzel WASHINGTON (Reuters) – The U.S. Supreme Court declined on Wednesday to revive President Joe Biden’s student debt relief plan, giving a boost to Republican-led states that have sued to block it. The justices rejected the administration’s request to temporarily lift a judicial decision that paused the plan, which is designed to lower […]
BBVA’s Colombian unit issues ordinary shares worth $217.9 million
BOGOTA (Reuters) – The Colombian unit of bank BBVA has issued ordinary shares worth 877 billion pesos ($218 million), the Colombian stock exchange said in a statement on Tuesday. The Colombian unit issued 3.24 billion shares at a price of 270 pesos each in an initial tranche, the statement said, adding that a further 152.7 […]
Lilly launches smallest single-dose vials of Zepbound for $399
By Patrick Wingrove (Reuters) -Eli Lilly said it has begun selling vials of the smallest, starter dose of its popular weight-loss drug Zepbound in the United States for $399 for a month on its direct-to-consumer website to try to increase supplies in the marketplace. Zepbound is typically sold in auto-injector pens, but with vials Lilly […]
Nvidia results could spur record $300 billion swing in shares, options show
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Traders in the U.S. equity options market are expecting Nvidia’s upcoming earnings report to spark a more than $300 billion swing in the shares of the world’s most dominant artificial intelligence chipmaker. Options pricing shows that traders anticipate a move of around 9.8% in the company’s shares […]
Exclusive-Intel board member quit after differences over chipmaker’s revival plan
By Max A. Cherney SAN FRANCISCO (Reuters) – The sudden resignation of a high-profile Intel board member came after differences with CEO Pat Gelsinger and other directors over what the director considered the U.S. company’s bloated workforce, risk-averse culture and lagging artificial intelligence strategy, according to three sources familiar with the matter. Lip-Bu Tan, a […]
Elliott lays out its case for leadership change at Southwest Airlines
By Svea Herbst-Bayliss NEW YORK (Reuters) -Elliott Investment Management, which now holds voting power over roughly 9.7% of Southwest Airlines, is telling investors the company needs new outside leadership for a “better future,” but it is also ready to press ahead with a planned proxy fight. In a letter to shareholders, the hedge fund is […]
Fed most likely to cut rates by quarter percentage point next month, Daly says
By Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Monday said “the time is upon us” to cut interest rates, likely starting with a quarter-percentage point reduction in borrowing costs. Asked if there is anything that could derail a rate cut at the U.S. central bank’s Sept. 17-18 policy meeting, […]
Banking industry loses challenge to CFPB small business loan rule
By Nate Raymond (Reuters) – A federal judge on Monday rejected a banking industry-backed challenge to a rule adopted by the U.S. Consumer Financial Protection Bureau that requires lenders to gather demographic data on small business borrowers. U.S. District Judge Randy Crane in McAllen, Texas, had blocked the agency from enforcing the rule nationwide after […]
Chipotle denied raises to unionized workers, US labor agency says
By Daniel Wiessner (Reuters) – U.S. labor board prosecutors have determined that a union’s claims that Chipotle Mexican Grill illegally refused to give raises to workers at a Michigan restaurant after they became the first and only employees of the fast-casual chain to unionize have merit. The National Labor Relations Board’s general counsel will issue […]