(Reuters) – Boeing said on Thursday it hired former Northrop Grumman executive Colin Miller to head its Phantom Works research arm within the company’s defense business unit. Miller’s hiring as general manager of Phantom Works at Boeing Defense, Space and Security (BDS) had been in the works before the arrival of new Boeing CEO Kelly […]
Exclusive-Trump’s transition team aims to kill Biden EV tax credit
By Jarrett Renshaw and Chris Kirkham (Reuters) -President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. […]
Amazon’s push into telehealth knocks shares of Hims & Hers
(Reuters) – Shares of Hims & Hers Health slumped 15% on Thursday after Amazon.com launched a rival service that offers upfront pricing for telehealth visits. Amazon said it is introducing low, upfront pricing for a clinical visit, treatment plan, and free medication delivery for Prime members for a range of common health, beauty and lifestyle […]
China’s Pony AI seeks up to $4.5 billion valuation in long-sought New York listing
(Reuters) -Pony AI is seeking a valuation of up to $4.48 billion in its U.S. initial public offering, it said on Thursday, as the Chinese autonomous driving firm moves ahead with its long-sought plan for a New York listing. Pony, backed by Japanese automaker Toyota, aims to raise up to $195 million by offering 15 […]
EU regulators quiz Novo Nordisk, Catalent rivals on $16.5 billion deal
By Foo Yun Chee and Maggie Fick BRUSSELS/LONDON (Reuters) – EU antitrust regulators have asked pharma rivals and customers for feedback in four business areas in light of Novo Holdings’ planned $16.5 billion takeover of Catalent, people familiar with the matter said. Novo Holdings is the controlling shareholder of Danish drugmaker Novo Nordisk, whose profits […]
AMD to cut 4% of global workforce as it focuses on AI chip development
(Reuters) – Advanced Micro Devices is laying off 4% of its global workforce, or about 1,000 employees, as it directs efforts towards developing AI chips in a bid to compete against industry bellwether Nvidia. AMD is regarded as the closest rival to Nvidia in the lucrative market for chips that form the brains of complex […]
Meta to introduce ads on Threads in early 2025, the Information reports
(Reuters) -Meta Platforms plans to introduce advertisements to its social media app Threads early next year, the Information reported on Wednesday, citing three people with direct knowledge of the plans. Threads app was launched in July last year as a challenger to X, formerly Twitter, in a bid to win users from the de facto […]
Exclusive-Saudi Arabia prioritizes sports for NEOM plans as costs balloon, sources say
By Pesha Magid, Hadeel Al Sayegh and Federico Maccioni RIYADH/DUBAI (Reuters) – Saudi Arabia has scaled back lofty ambitions for its NEOM gigaproject to prioritize completing elements essential to hosting global sporting events over the next decade as rising costs weigh, three sources told Reuters a day after the sudden departure of the project’s longtime […]
Amazon offers free computing power to AI researchers, aiming to challenge Nvidia
By Stephen Nellis (Reuters) – Amazon.com’s cloud computing unit on Tuesday said it will offer free computing power to researchers who want to use its custom artificial intelligence chips, aiming to challenge Nvidia’s popularity among those researchers. Amazon Web Services (AWS) said it will offer credits to use its cloud data centers that it values […]
Big bank deals could be spurred by Trump administration, executives say
By Tatiana Bautzer NEW YORK (Reuters) – President-elect Donald Trump’s return to the White House could usher in a wave of bank mergers and acquisitions as the administration appoints regulators who are more open to approving larger deals, financial executives and analysts said on Tuesday. The banking industry is expected to win big if Republican […]