(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 […]
ValueAct takes $1-billion stake in Meta, source says
By Svea Herbst-Bayliss (Reuters) -ValueAct Capital has built a $1-billion stake in Meta Platforms but is not currently pushing for big changes at the Facebook and Instagram parent, a source familiar with the matter told Reuters on Tuesday. The stake, which ValueAct has been building in recent weeks, now ranks among the firm’s two largest […]
Elliott calls for Honeywell break up, takes $5 billion-plus stake
By Svea Herbst-Bayliss (Reuters) -Activist investor Elliott Investment Management said Honeywell should split into two separate businesses on Tuesday, following in the footsteps of other industrial conglomerates that have broken up in recent years. Elliott said in a letter that it had built a stake worth more than $5 billion in Honeywell, one of its […]
Exclusive-Amazon developing driver eyeglasses to shave seconds off deliveries, sources say
By Greg Bensinger (Reuters) – Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around and within buildings, as it tries to smooth the final stretch of an order’s journey to a customer’s home, five people familiar with the matter said. If successful, the glasses would provide drivers with turn-by-turn navigation […]
Bitcoin surge triggers billions in losses for crypto short traders after Trump win
By Shashwat Chauhan (Reuters) – Short sellers of cryptocurrency and blockchain-related stocks have suffered heavy losses since Nov. 6, after bitcoin surged to record highs, on optimism U.S. President-elect Donald Trump would implement a more favorable regulatory framework. Crypto short trades looked set for a further hammering on Monday as most cryptocurrency-related stocks jumped in […]
Morgan Stanley’s PE arm to sell HVAC firm to Goldman Sachs Alternatives
(Reuters) -Morgan Stanley’s private equity arm is selling its heating, ventilation and air conditioning (HVAC) business Sila Services, about three years after it invested in the company to take advantage of the growing interest in the sector. Pennsylvania-based Sila will be sold to the private equity unit of Goldman Sachs Alternatives, Morgan Stanley said on […]
FTX sues Binance and its former CEO for $1.8 billion
LONDON (Reuters) – Collapsed cryptocurrency company FTX is suing Binance and its former CEO Changpeng Zhao, alleging that $1.8 billion was “fraudulently transferred” by FTX management to Binance and its executives. The lawsuit relates to Binance’s sale of its stake in Sam Bankman-Fried’s FTX, which it acquired in 2019 but then negotiated to sell back […]