By Arriana McLymore NEW YORK (Reuters) – U.S. shoppers are expected to spend a record $18.5 billion using third-party buy now, pay later services for holiday purchases in the last quarter of the year, according to projections by data firm Adobe Analytics released on Wednesday. With many Americans recently carrying more debt, spending on buy […]
FTC announces crackdown on deceptive AI claims, schemes
By Jody Godoy WASHINGTON (Reuters) -The U.S. Federal Trade Commission announced actions against five companies on Wednesday that it said used artificial intelligence in deceptive and unfair ways. Three of the cases suspended operations at businesses that purported to help consumers generate passive income by opening e-commerce storefronts. The FTC also settled with a company […]
Shares of Trump’s media company rebound from all-time low
Shares of former U.S. President Donald Trump’s media company sprang back over 6% on Wednesday, rebounding from all-time lows after restrictions on insider selling expired last week. Two straight days of gains in Trump Media & Technology Group, which is 57% owned by the Republican presidential nominee, have lifted it 12%, bringing its market capitalization […]
Wall Street watchdog faces bipartisan ire in House over crypto
(Fixes typo in first sentence) By Douglas Gillison (Reuters) – Lawmakers from both major parties in the House of Representatives on Tuesday renewed their attacks on Wall Street’s chief regulator over his agency’s policies on cryptocurrencies, accusing the U.S. Securities and Exchange Commission of hampering the industry’s growth. The sometimes heated questioning coincides with mounting […]
Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
MEXICO CITY (Reuters) -Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. The fresh funds will go toward improving connectivity and boosting the adoption of AI technology by small and-medium sized businesses (SMBs), the […]
Boeing offers additional time to striking union workers to vote on new offer
(Reuters) – Boeing said on Tuesday it has offered additional time and support to the union representing thousands of its striking workers in the U.S. West Coast to vote on its new labor offer, after an earlier Friday deadline was rejected. “We’ve reached out to the union to give them more time and offer logistical […]
US State Dept OKs potential sale of Stinger missiles to Egypt for $740 million
WASHINGTON (Reuters) – The U.S. Department of State has approved the potential sale of 720 Stinger missiles to Egypt for $740 million, the Pentagon said on Tuesday. The missiles have been in hot demand in Ukraine, where they have successfully stopped Russian assaults from the air, and in neighboring European countries which fear they may […]
Italy approves BlackRock holding more than 3% in Leonardo
ROME (Reuters) -Italy has approved BlackRock, the world’s biggest asset manager, holding a stake of more than 3% in Italian defence and aerospace group Leonardo, a document seen by Reuters showed on Monday. The document, sent by Italian Prime Minister Giorgia Meloni’s office to parliament, deals with so-called “golden power” decisions. Rome has “golden powers” […]
Euro slumps, dollar index edges higher after PMI data
By Chuck Mikolajczak NEW YORK (Reuters) -The euro dropped against the dollar on Monday as business activity reports for the euro zone economy disappointed, briefly extending declines after U.S. data showed activity there held steady, and ahead of a flurry of Federal Reserve speakers this week. The soft euro zone data supported expectations for more […]
Boeing proposes 30% wage hike to striking workers, calls it its ‘final’ offer
By Allison Lampert (Reuters) -Boeing upped its wage proposal to thousands of striking workers on Monday, offering a 30% general wage increase over four years in what it called its “best and final” offer as the strike drags on. The U.S. planemaker also offered to reinstate a performance bonus, improve retirement benefits and double a […]