By Andres Gonzalez LONDON (Reuters) – Buyout groups Blackstone and EQT have advanced to the second round of bids in the sale process of waste management company Urbaser, according to two sources with knowledge of the situation. Urbaser´s owner, private equity firm Platinum, engaged Citi and Santander as advisors for the sale earlier this year, […]
Musk spent over a quarter of a billion dollars to help elect Trump
By Tim Reid and Jason Lange WASHINGTON (Reuters) – Elon Musk spent over a quarter of a billion dollars to help Donald Trump win November’s presidential election, according to new filings, underscoring the influence one of the world’s wealthiest people had on this year’s White House race. The billionaire owner of electric car maker Tesla […]
Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows
By Siddharth Cavale NEW YORK (Reuters) -Walmart Inc, Amazon.com and fast-growing e-commerce sites Shein and PDD Holding’s Temu saw record-breaking sales on Black Friday and Cyber Monday, according to spending data, suggesting that they may finish the holiday season on a much stronger note than Target and Best Buy, which struggled. Holiday shoppers largely browsed […]
Apple plans three-year modem rollout to compete with Qualcomm, Bloomberg News reports
(Reuters) – Apple is preparing to launch its long-awaited series of cellular modem chips next year, which will replace components from longtime partner Qualcomm, Bloomberg News reported on Friday. The iPhone maker is looking to ultimately overtake Qualcomm’s technology by 2027, the report said, citing people familiar with the matter. Qualcomm, a leading designer of […]
Nvidia CFO says M&A possible use for growing cash hoard
(Reuters) – AI chip leader Nvidia could put its growing cash pile to use through possible mergers and acquisitions, finance chief Colette Kress said during a technology conference in Arizona on Tuesday. “We can also think about that in terms of our work, of bringing on great teams in some M&A form,” she said at […]
Amazon announces new slate of AI models
By Greg Bensinger LAS VEGAS (Reuters) -Amazon announced a new slate of artificial intelligence platforms, known as foundation models, at its annual AWS conference, allowing for text, image and video generation among other things. The new offerings pit it against rivals like Adobe and Meta that are racing to serve customers who want to automate […]
Exxon names former GM president to run oil and gas business
HOUSTON (Reuters) – Exxon Mobil said on Tuesday that Dan Ammann, former president of General Motors, will take over its largest and most profitable business early next year. Ammann, who joined Exxon two years ago to run its clean energy unit, called Low Carbon Solutions, will replace 34-year Exxon veteran Liam Mallon as president of […]
TPG explores $1.5 billion-plus sale of gym chain Crunch Fitness, sources say
By Abigail Summerville NEW YORK (Reuters) – Buyout firm TPG is weighing a potential sale of Crunch Fitness that could value the gym chain at more than $1.5 billion, including debt, people familiar with the matter told Reuters on Tuesday. TPG, which acquired Crunch Fitness through its buyout arm that focuses on small and mid-sized […]
Fed’s Waller says inclined at this point to cut rates in December
By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Governor Christopher Waller said on Monday he was inclined toward a cut in the benchmark interest rate at the central bank’s Dec. 17-18 meeting as policy remained restrictive enough to keep putting downward pressure on inflation, while the labor market was roughly in balance, something the Fed wants […]
Nvidia among investors in $700 million capital raise by AI firm Nebius Group
By Alexander Marrow LONDON (Reuters) – AI infrastructure firm Nebius Group on Monday said it was raising $700 million in a private placement from investors including Nvidia, Accel and some accounts managed by Orbis Investments. Nebius, which emerged in July following a $5.4 billion deal to split the domestic and international assets of Russian internet […]