Author: Reuters
-
Oil ends lower, posts weekly decline as US rate cut hopes dim
By Nicole Jao NEW YORK (Reuters) -Oil prices fell nearly 3% lower on Friday and posted a weekly decline after a U.S. central bank policymaker indicated interest rate cuts could be delayed by at least two more months. Brent crude futures settled down $2.05, or 2.5%, at $81.62 a barrel, while U.S. West Texas Intermediate…
-
Credit spreads over US Treasuries fall as market gains confidence
By Alden Bentley and Davide Barbuscia (Reuters) – The spreads between both investment-grade and junk-rated corporate bond yields and U.S. Treasuries have fallen to their narrowest level in more than two years, in a sign of overall investor confidence growing. The spread on the ICE BofA U.S. Corporate Index, a commonly used benchmark for high-grade…
-
Intel signs Microsoft as foundry customer, says on track to overtake TSMC
By Stephen Nellis and Max A. Cherney (Reuters) -Intel said on Wednesday that Microsoft plans to use its services to manufacture a custom computing chip and that the company expects to beat an internal deadline of 2025 to overtake its biggest rival, Taiwan Semiconductor Manufacturing Co, in advanced chip manufacturing. The American chipmaker also gave…
-
Biden’s brother tells impeachment probe he kept family and business separate
By Makini Brice and Andy Sullivan WASHINGTON (Reuters) -U.S. President Joe Biden’s brother on Wednesday told lawmakers pursuing an impeachment inquiry that their relationship had nothing to do with his business career, as a top Democrat said the probe is based on Russian disinformation and should be dropped. In closed-door testimony, James Biden, 74, told…
-
S&P 500, Dow close slightly up; Nvidia gains after the bell
By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 and Dow Jones industrials eked out small gains on Wednesday, while the Nasdaq closed lower for a third straight session as investors awaited the release of Nvidia’s earnings that could determine near-term momentum for equities. After the closing bell, Nvidia shares surged 6% after it…
-
Private US moon lander reaches lunar orbit ahead of touchdown attempt
By Steve Gorman (Reuters) -A moon lander built by Houston-based company Intuitive Machines reached lunar orbit on Wednesday, heading for an attempt at the first U.S. touchdown on Earth’s nearest celestial neighbor in more than 50 years, and the first ever by a private spacecraft. The six-legged robot lander, dubbed Odysseus, entered a circular orbit…
-
Texas crypto company sues SEC for ‘overreach’ on digital assets
By Jody Godoy (Reuters) -A Texas cryptocurrency company and an industry group sued the U.S. Securities and Exchange Commission on Wednesday, saying the regulator has overstepped its authority and asking a judge to rule that digital assets traded on exchanges are not securities. Fort Worth-based crypto company Lejilex and lobbying group Crypto Freedom Alliance of…
-
Morgan Stanley forced Frasers off books with $1 billion margin call, court told
By Kirstin Ridley LONDON (Reuters) -Morgan Stanley used an “unrealistic” and “inappropriate” near $1.0 billion margin call to force trades held by retail tycoon Mike Ashley’s Frasers group off its books partly out of snobbery, London’s High Court was told on Wednesday. Ashley, whose fortune is estimated by Forbes to be worth $5.2 billion, told…
-
Blinken tells Lula that US disagrees with his Israel remarks
By Simon Lewis BRASILIA (Reuters) -U.S. top diplomat Antony Blinken and President Luiz Inacio Lula da Silva had a “frank exchange” on Wednesday in which the secretary of state made it clear to Brazil’s leader the U.S. did not agree with his recent remarks about Israel’s war in Gaza. Lula is in the middle of…
-
Getty-backed AI image generator BRIA snags fresh funding
By Katie Paul NEW YORK (Reuters) – A “responsible” AI image generation startup backed by stock photo provider Getty Images has raised $24 million in a Series A funding round, including from top ad agency Publicis Groupe, it said on Wednesday. Israel-based BRIA, which licenses more than a billion images from stock providers for its…