Wall Street stocks close lower on higher Treasury yields, rate expectations

Reuters | April 16, 2024

By Chibuike Oguh (Reuters) -Wall Street stocks ended lower in choppy trading on Tuesday as Treasury yields climbed, with investors weighing the likely path of interest rates in a resilient U.S. economy with persistent inflation. Federal Reserve Chair Jerome Powell said on Tuesday recent inflation data has not given policymakers enough confidence to ease credit […]

Microsoft to invest $2.9 billion to expand AI, cloud infra in Japan

Reuters | April 9, 2024

TOKYO (Reuters) -Microsoft said on Tuesday it would invest $2.9 billion over two years to expand its cloud and AI infrastructure in Japan, the latest in a series of overseas expansions by large tech firms to support the development of artificial intelligence. The investment – the company’s largest in the 46 years of its operations […]

U.S. Takes Next Step In Medicare Drug Price Negotiations With Pharma

Reuters | April 3, 2024

WASHINGTON (Reuters) – The Biden administration said on Tuesday it has responded to offers from the manufacturers of 10 high-cost drugs selected for the U.S. Medicare program’s first-ever pricing negotiations, but provided no details. Part of 2022’s Inflation Reduction Act allows Medicare to negotiate prices for prescription drugs that had been particularly expensive for the […]

U.S. Cryptocurrency ETF Inflows Pick Up as Bitcoin Price Recovers

Reuters | March 28, 2024

By Suzanne McGee and Hannah Lang (Reuters) – Inflows into the nine recently launched exchange-traded funds (ETFs) tied to bitcoin have resumed their upward trajectory this week after the cryptocurrency’s price bounced back from its dip last week. “The resumption in bitcoin’s strong performance is sparking renewed interest in the ETFs,” said Todd Rosenbluth, head […]

Hyundai Motor Doubles Down on EVs as It Ramps up Investment in Korea

Reuters | March 27, 2024

By David Shepardson and Jack Kim NEW YORK/SEOUL (Reuters) -Hyundai Motor Group said on Wednesday it will invest 68 trillion won ($51 billion) over three years in South Korea to ramp up electric vehicle production and new mobility business and separately hire 80,000 new employees, doubling down at a time when other established automakers are […]

Hulu Launches on Disney+ In Bid to Boost Streaming Use

Reuters | March 27, 2024

By Lisa Richwine LOS ANGELES (Reuters) – Walt Disney completed the addition of the general-audience-focused Hulu streaming service to the family friendly Disney+ on Wednesday, putting titles such as “The Bear” and “American Horror Story” in the same app as “Moana” and “Frozen.” The combination, which the company started testing last year, is designed to […]

US new home sales fall; median price lowest in more than 2-1/2 years

Reuters | March 25, 2024

By Lucia Mutikani WASHINGTON (Reuters) -Sales of new U.S. single-family homes unexpectedly fell in February after mortgage rates increased during the month, but the underlying trend remained strong amid a chronic shortage of previously owned houses on the market. The report from the Commerce Department on Monday also showed the median new house price last […]

Investors greenlight Trump’s $5.7 billion social media deal

Reuters | March 23, 2024

By Helen Coster, Svea Herbst-Bayliss (Reuters) -Former U.S. President Donald Trump came a step closer on Friday to reaping a major windfall from his social media firm after investors in a blank-check acquisition company approved a merger currently worth about $5.7 billion.  The deal values Trump’s majority stake in the company that holds his app […]

Clorox to sell some Latin American operations; take $233 million charge

Reuters | March 21, 2024

(Reuters) – Bleach maker Clorox said on Thursday that it would sell its operations in Argentina, Uruguay and Paraguay to private equity fund Apex Capital, as it looks to tighten its portfolio to be more profitable, and take a one-time charge of about $233 million related to the sale. The company, whose move comes at […]

Samsung Elec Expects $100 Million Or More Sales from Advanced Chip Packaging Business

Reuters | March 20, 2024

By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics expects $100 million or more of revenue from its next batch of advanced chip-packaging products this year, co-CEO Kye-Hyun Kyung said on Wednesday. Samsung set up advanced chip packaging as a business unit last year, and Kyung said he expects the results of Samsung’s investment […]

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