Oil prices ease as economic fears overshadow Saudi output cut

Reuters | June 6, 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% on Tuesday as worries that sluggish global economic growth could reduce energy demand outweighed Saudi Arabia’s pledge to deepen output cuts. Brent futures fell 42 cents, or 0.6%, to settle at $76.29 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents, […]

Big Tobacco faces big EU counterfeit problem

Reuters | June 1, 2023

By Richa Naidu, Emma Pinedo and Emilio Parodi MADRID (Reuters) – Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. At one, in the northern town of Alfaro, they found 10 Ukrainian workers, five of them war refugees, who’d been […]

AI means everyone can now be a programmer, Nvidia chief says

Reuters | May 29, 2023

TAIPEI (Reuters) – Artificial intelligence means everyone can now be a computer programmer as all they need to do is speak to the computer, Nvidia Corp CEO Jensen Huang said on Monday, hailing the end of the “digital divide”. Nvidia has surged to become the world’s most valuable listed semiconductor company as a major supplier […]

As Bud slips, Heineken plots further shake-up of U.S. light beer

Reuters | May 23, 2023

By Doyinsola Oladipo and Philip Blenkinsop NEW YORK/BRUSSELS (Reuters) – As investors try to assess the fallout on global brewing leader Anheuser-Busch InBev from a backlash against Bud Light, rival Heineken is spending $100 million to promote a new light beer to Americans. The Dutch brewer sees Heineken Silver driving fresh momentum into its U.S. […]

AstraZeneca to leave leading U.S. drug lobby group

Reuters | May 16, 2023

By Maggie Fick LONDON (Reuters) -AstraZeneca has decided to leave the main U.S. drug lobby group, the Pharmaceutical Research and Manufacturers of America (PhRMA), and pursue other ways of engaging in advocacy at the state and federal level, the company said. AstraZeneca decided not to continue its membership after a recent assessment of whether it […]

G7 finance chiefs debate reducing supply chain reliance on China

Reuters | May 12, 2023

By Christian Kraemer and Tetsushi Kajimoto NIIGATA, Japan (Reuters) -Finance leaders of the Group of Seven (G7) advanced economies discussed the need to make global supply chains more resilient by reducing over-reliance on China, German Finance Minister Christian Lindner said on Friday. Japan, which is hosting a three-day G7 meeting to debate key global themes […]

Marketmind-Another one bites the dust

Reuters | May 1, 2023

(Reuters) – A look at the day ahead in U.S. and global markets from Amanda Cooper. Just when you thought it was safe to go back into the banking system, First Republic Bank has folded and U.S. regulators have agreed to sell its assets to JPMorgan. JPMorgan was one of a number of interested buyers […]

Mercedes-Benz more upbeat on signs US, China picking up

Reuters | April 28, 2023

By Victoria Waldersee BERLIN (Reuters) -Mercedes-Benz struck a slightly more optimistic tone alongside its first quarter results on Friday, saying demand in China and the United States was showing signs of picking up as markets recover from inflationary and supply chain shocks. Demand in Europe was still sluggish, but the German automaker expects that to […]

Microsoft hits back at UK after Activision acquisition blocked

Reuters | April 27, 2023

By Paul Sandle LONDON (Reuters) – Microsoft’s president Brad Smith said the UK regulator’s decision to prevent its acquisition of ‘Call of Duty’ maker Activision Blizzard “had shaken confidence” in Britain as a destination for tech businesses. The Competition and Markets Authority (CMA), which operates independently from government, blocked the deal on Wednesday, saying it […]

SAP to embed ChatGPT in products as quarterly revenue beats estimates

Reuters | April 21, 2023

By Andrey Sychev and Supantha Mukherjee (Reuters) – Business software maker SAP on Friday reported first-quarter revenue above analysts’ expectations, backed by growth in its cloud business but lowered its outlook for the year due to the divestment of its Qualtrics unit. SAP, which in January announced plans to cut 3,000 jobs as it looked […]

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