(Reuters) -U.S. wireless carrier T-Mobile said on Friday it would buy back as much as $14 billion worth of shares by 2025 end as part of its previously stated plan to return up to $50 billion over the next three years to shareholders. Telecom companies such as Verizon, AT&T and T-Mobile are among the top […]
VW’s top shareholder Porsche SE to write down up to 20 billion euros on investment
BERLIN (Reuters) -Top Volkswagen shareholder Porsche SE <PSHG_p.DE> expects to write down 7 billion to 20 billion euros ($20.98 billion) on its investment, it said on Friday, in the latest sign of how VW’s cost crisis has shaken investor faith in the carmaker. It also expects an impairment on its investment in luxury carmaker Porsche […]
US House panel finds BlackRock, other asset managers leery of joining climate initiative
By Isla Binnie and Ross Kerber NEW YORK / BOSTON (Reuters) – Top U.S. asset managers worried that signing up to an industry climate initiative could make them appear to be working too closely together and draw regulatory scrutiny, according to a report released Friday by a Republican-led U.S. Congressional Committee. The report is the […]
Elon Musk’s net worth tops $400 billion, Forbes billionaires list shows
(Reuters) – Tesla CEO Elon Musk’s net worth crossed $400 billion on Thursday, the Forbes real-time billionaires list showed, boosted by a nearly 71% surge in the automaker’s shares this year and the soaring valuation of his rocket company SpaceX. Musk is Tesla’s largest shareholder with about a 13% stake in the company. The EV […]
Contact lens maker Bausch + Lomb says it is exploring sale
(Reuters) – Bausch + Lomb is exploring a potential sale among other options, it said on Thursday, in a move that would help Canadian parent Bausch Health exit the eye-care company. Bausch + Lomb also said its statement was in response to a request from the Canadian Investment Regulatory Organization (CIRO) after a series of […]
Wall Street hopes rate cuts will force clients out of cash in 2025
(Reuters) – Wall Street executives at the Reuters Next conference in New York expect a $7-trillion cash pile that proved invulnerable to falling interest rates in 2024 to start melting next year as easier monetary policy tempts clients out of the ultra-conservative asset class. So far, such hopes have been in vain. Cash in money […]
Apple nears switch to in-house Bluetooth and Wi-Fi chip for iPhone, smart home, Bloomberg reports
(Reuters) – Apple is planning to switch to a homegrown chip for Bluetooth and Wi-Fi connections for its devices starting next year, a move that will phase out some parts currently supplied by Broadcom, Bloomberg News reported on Thursday. The chip, code-named Proxima, has been under development for several years and is now slated to […]
Healthcare stocks fall as lawmakers push for bill to break up drug middlemen
(Reuters) – Shares of companies owning pharmacy benefit managers fell on Wednesday after the introduction of a bipartisan bill that would force health insurers or drug middlemen to divest their pharmacy businesses. CVS Health’s Caremark, Cigna’s Express Scripts and UnitedHealth Group’s Optum control the majority of pharmacy benefit management (PBMs) in the US, while their […]
Trump’s NASA pick says his future SpaceX missions “a question mark”
ORLANDO (Reuters) -U.S. President-elect Donald Trump’s pick for NASA administrator, tech billionaire Jared Isaacman, said Wednesday that the private astronaut missions he has planned with Elon Musk’s SpaceX “may wind up on hold for a moment,” as he prepares to enter government service leading the U.S. space agency. “The future of the Polaris program is […]
Wall Street mostly upbeat on GM’s decision to pull the plug on Cruise
By Nora Eckert and David Shepardson DETROIT (Reuters) – General Motors needed to exit its Cruise robotaxi business, most Wall Street analysts agreed on Wednesday, but the automaker’s decision to do so was still a disappointing end for an operation that GM had touted as a potential $50 billion revenue generator by 2030. The largest […]