(Reuters) – Bank of America has hired technology banking veteran Tim Carpenter from peer JPMorgan Chase to co-lead its software investment banking business, a source familiar with the matter said on Monday. Investment banking has experienced an improvement in 2024, riding on hopes of potential rate cuts and expectations of soft landing of the the […]
Factbox-Apple iPhone 16 event: Key announcements so far
(Reuters) – Apple on Monday unveiled an artificial intelligence focused-iPhone 16 lineup, a sleeker Apple Watch, AirPods 4, and said new AI features will be added to its devices next month. Here are some products tech behemoth Apple launched at the event: NEW IPHONE LINEUP The iPhone 16, starting at $799, comes in two sizes […]
Exclusive-Russia raises forecast for 2024 oil, gas export revenues by $17.4 billion, document shows
By Darya Korsunskaya (Reuters) – Russia’s economy ministry has revised up its 2024 forecasts for export sales of oil and gas, key sources of budget revenues, by $17.4 billion from the previous estimate to $239.7 billion thanks to a more positive price outlook, a document seen by Reuters showed. The improved expectations for Russia’s oil […]
Boeing reaches early deal with 25% higher pay in hope to avert strike
By Allison Lampert and David Shepardson -Boeing said on Sunday it had reached a tentative agreement with a union representing more than 32,000 workers in the U.S. Pacific Northwest, in a deal that could help avert a possible crippling strike as early as Sept. 13. The proposed four-year agreement, which includes a general wage increase […]
Musk’s xAI in talks for share in future Tesla revenue, WSJ reports
(Reuters) – Elon Musk’s AI startup xAI has discussed a deal that would give it some revenue from Musk’s Tesla in exchange for providing the electric vehicle maker access to its technology and resources, the Wall Street Journal reported on Saturday. Under a proposed arrangement as described to investors, Tesla would license xAI’s artificial intelligence […]
Renault CEO says sector could face billions in fines as EV sales slow
PARIS (Reuters) – Europe’s autos industry could face fines of 15 billion euros ($17.4 billion) for carbon emissions due to slowing demand for electric vehicles, Renault CEO Luca de Meo said on Saturday. Automakers face tougher EU CO2 targets in 2025 as the cap on average emissions from new vehicles sales falls to 94 grams/km […]
US regulator approves BlackRock’s $12.5 billion deal for Global Infrastructure Partners
(Reuters) – The U.S. Federal Energy Regulatory Commission on Friday approved BlackRock’s $12.5 billion deal for Global Infrastructure Partners. Under the deal, which was announced earlier this year, BlackRock said it would pay $3 billion in cash and roughly 12 million BlackRock shares to acquire the asset management giant. BlackRock and Global Infrastructure Partners declined […]
New iPhone will use Arm’s chip technology for AI, FT reports
(Reuters) -Apple’s latest iPhone with its A18 chip, which is set to be unveiled at an event on Monday, has been developed using SoftBank-owned Arm’s newest V9 chip design, the Financial Times newspaper reported on Saturday. Apple is set to host its fall event on Sept. 9 at its headquarters in Cupertino, California, where it […]
China says its huge market is opportunity not threat to US
SHANGHAI (Reuters) – A modern China with a huge population is an opportunity, not a threat, for the United States, China’s Ministry of Commerce reported commerce vice minister Wang Shouwen as saying on Saturday as trade talks were held in the city of Tianjin. The talks, co-chaired by U.S. Under Secretary of Commerce for International […]
Vale, BHP, Samarco could close $18 billion deal over Brazil dam collapse, sources say
RIO DE JANEIRO (Reuters) -Mining companies Vale and BHP, together with their joint venture Samarco, may soon reach an agreement with Brazilian authorities to pay around 100 billion reais ($17.87 billion) for the collapse of a dam in the city of Mariana, said four sources familiar with the discussions. Three of the sources expect a […]