By Lisa Pauline Mattackal (Reuters) -Donald Trump is a clear favorite to beat Kamala Harris – that’s if you put your faith in prediction markets, the latest frontier for the indefatigable crypto speculator. On the eve of the U.S. election, billions of crypto dollars are chasing bets on the two candidates on platforms like Polymarket […]
Berkshire’s cash soars to $325 billion as Buffett sells Apple, BofA; operating profit falls
By Jonathan Stempel (Reuters) -Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, further slashing holdings in Apple and boosting cash to a record $325.2 billion. In its quarterly report on Saturday, Berkshire said it sold about 100 million, or 25%, of its Apple shares over the summer, ending with […]
Nvidia’s proposed buy of AI startup Run:ai requires EU approval, EU regulators say
BRUSSELS (Reuters) – U.S. chipmaker Nvidia’s proposed acquisition of AI startup Run:ai will have to be approved by EU antitrust regulators before the deal can be completed, the European Commission said on Thursday. The EU competition enforcer said Nvidia will have to formally seek its approval for the deal, following a request from the Italian […]
Amazon’s plan to tackle Temu, Shein? Sell more toothpaste
By Arriana McLymore and Ananya Mariam Rajesh (Reuters) – Amazon’s push to offer more everyday essentials like toothpaste is hurting its average selling prices, but it is also a guard against rivals such as Temu and Shein who offer rock bottom prices on goods they ship from China. People are shopping more frequently at Amazon, […]
Ford’s head of integrated services leaves automaker to join Peloton
By Nora Eckert (Reuters) – The head of Ford Motor’s integrated services, who was tasked with leading one of the automaker’s most important teams, is departing after about one year, the company said on Thursday. Peter Stern, who joined Ford in August 2023 from Apple, was trusted with building the automaker’s recurring revenues attached to […]
Amazon workers ‘appalled’ by AWS CEO’s return to office remarks, urge policy reversal
By Greg Bensinger (Reuters) -More than 500 Amazon.com employees sent a letter on Wednesday to the CEO of its AWS unit urging reversal of a full return-to-office policy and rejecting his assertion that the rule had broad support and opponents should leave Amazon Web Services. “We were appalled to hear the non-data-driven explanation you gave […]
Pfizer profit up on COVID treatment sales as it faces activist pressure
By Michael Erman and Bhanvi Satija (Reuters) -Pfizer reported higher-than-expected profit on Tuesday due to strong sales of COVID-19 treatment Paxlovid, an important win for Chief Executive Albert Bourla as he faces down activist investor Starboard. Still, investors said the company had work to do to show it can improve its prospects, and shares fell […]
Lucid to open orders for Gravity electric SUV next week
(Reuters) – Electric-vehicle maker Lucid Group said on Tuesday it will open orders for its Gravity SUV on Nov. 7, as it looks to drum up demand and attract a wider swathe of customers. The move comes on the heels of a successful fundraising round as Lucid looks to expand its product lineup to compete […]
HCA Healthcare misses quarterly profit estimates, forecasts up to $300-million hit in Q4
(Reuters) -HCA Healthcare missed Wall Street estimates for quarterly profit on Friday and forecast up to a $300-million hit in the fourth quarter due to hurricane disruptions, causing its shares to fall 8% in premarket trading. The hospital operator experienced a loss of revenue in the third quarter owing to the impact of Hurricane Helene […]
Intel to invest more than $28 billion to build two chip factories in Ohio
(Reuters) -Intel said on Friday it would invest more than $28 billion to construct two new chip factories in Licking County, Ohio, as the company pushes ahead with plans to expand its foundry business. The chipmaker’s shares, which have slumped more than 55% this year, rose 1.4% in early trading. The initial phase of the […]