Author: Reuters
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US to stop accepting new enrollments for low-income internet subsidy program
By David Shepardson WASHINGTON (Reuters) -The Federal Communications Commission on Thursday will stop accepting new enrollments for a government broadband internet subsidy program, used by nearly 23 million American households, which is set to run out of money in months. “The enrollment freeze is necessary to slow the depletion of the remaining funding and reduce…
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Trump heads to US Supreme Court with a familiar claim: he is untouchable
By Andrew Chung and John Kruzel WASHINGTON (Reuters) – Donald Trump will try to persuade the U.S. Supreme Court this week to reverse a judicial decision to kick him off the ballot in Colorado over his actions concerning the Jan. 6, 2021, Capitol attack, arguing that the constitutional provision his opponents cite does not apply…
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Nvidia hits record high as Goldman Sachs boosts PT on AI prospects
(Reuters) -Nvidia’s shares scaled a new peak on Monday after Goldman Sachs raised its price target for the high-flying chipmaker’s stock in anticipation of a major boost to its earnings from the artificial intelligence (AI) boom. The stock rose about 4% to $689.21 and looked set to add about $70 billion to the company’s market…
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On Groundhog Day, Punxsutawney Phil predicts an early spring
By Brendan O’Brien (Reuters) – The celebrated groundhog known as Punxsutawney Phil emerged from his Pennsylvania burrow on Friday and failed to see his shadow, a sign that the warmer temperatures of spring will arrive early in North America, according to folklore. Thousands of revelers gathered at dawn in Punxsutawney, a small town northeast of…
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New US ETF targets ‘Magnificent Seven’ mega-cap technology stocks
By Suzanne McGee (Reuters) – Tidal Financial Group and ZEGA Financial launched a new exchange-traded fund (ETF) designed to profit from future growth in the “Magnificent Seven” growth and technology companies that have come to dominate U.S. market indexes and returns. The YieldMax Magnificent 7 Fund of Options Income ETFs will invest in seven existing…
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Toyota halts shipment of some vehicles over certification issues
By Daniel Leussink TOKYO (Reuters) -Toyota Motor said it would suspend shipments of some models including the Hilux truck and Land Cruiser 300 SUV after finding irregularities in certification tests for diesel engines developed by affiliate Toyota Industries. A special investigative committee found irregularities during horsepower output testing for the certification of three diesel engine…
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AmEx forecasts upbeat 2024 profit as credit card spending stays resilient
By Sri Hari N S and Niket Nishant (Reuters) -American Express forecast a better-than-expected profit for 2024 on hopes that its affluent customers will be resilient with their spending even amid elevated interest rates, sending its shares to an all-time high on Friday. The New York-based credit card giant also reported record revenue for 2023,…
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Woodside says Santos merger talks still at early stage as it forecasts higher production
By Lewis Jackson and Himanshi Akhand (Reuters) -Woodside Energy CEO Meg O’Neill said on Wednesday there was no recent precedent for sizable premiums in oil and gas deals as the producer reported it was still in the early stages of talks over a potential $52 billion merger with Santos. The company on Wednesday forecast a…
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Cleveland-Cliffs argued its US Steel bid was worth more than Nippon Steel’s, filing shows
By Greg Roumeliotis (Reuters) -Cleveland-Cliffs Inc sought to convince U.S. Steel Corp last month that its cash-and-stock acquisition offer was worth $1.4 billion more than an all-cash winning bid from Nippon Steel Corp, a regulatory filing showed on Wednesday. Nippon Steel beat Cleveland-Cliffs in a sale process for U.S. Steel with a $14.1 billion bid…
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Los Angeles Times plans ‘significant’ layoffs, guild says
(Reuters) -Los Angeles Times plans to lay off a “significant” number of journalists, the newspaper’s guild said on Thursday, adding that they would organize a one-day walk-out on Friday to protest against the planned move. The layoffs could impact at least 100 journalists or about 20% of the newsroom in a move to address the…