Category: Business
-
Factbox-Corporate America weighs business impact of new weight-loss drugs
(Reuters) -U.S. companies across sectors such as food and beverage makers and manufacturers of glucose monitors are facing investor questions over the risk to future sales from the growing popularity of promising weight-loss treatments. Drugs in a class known as GLP-1 such as Novo Nordisk’s Wegovy and Ozempic as well as Eli Lilly’s Mounjaro and…
-
Boeing data published by Lockbit hacking gang
By James Pearson LONDON (Reuters) -Internal data from Boeing, one of the world’s largest defence and space contractors, was published online on Friday by Lockbit, a cybercrime gang which extorts its victims by stealing and releasing data unless a ransom is paid. The hackers in October said they had obtained “a tremendous amount” of sensitive data…
-
OpenAI investors see more startup opportunities despite ChatGPT expansion
(This Nov. 9 story has been corrected to say Avery Klemmer is an investor, not a partner, in paragraph 7) By Krystal Hu (Reuters) – OpenAI’s announcement on artificial intelligence “apps” do not spell the death knell for nascent startups building AI products, two OpenAI investors said at a Reuters NEXT conference on Thursday. Investors…
-
SpaceX wins reprieve from US lawsuit alleging anti-immigrant bias
By Daniel Wiessner (Reuters) – A U.S. judge has blocked the U.S. Department of Justice from pursuing an administrative case accusing Elon Musk’s SpaceX of illegally refusing to hire refugees and asylum recipients. U.S. District Judge Rolando Olvera in Brownsville, Texas said in a written order late Wednesday that administrative judges at the Justice Department…
-
Palladium’s slide accelerates on prospects for surplus next year
By Brijesh Patel and Ashitha Shivaprasad (Reuters) – Palladium prices have tumbled to five-year lows below $1,000 an ounce this week, hastening a retreat triggered by expectations of surpluses due to the rapid spread of electric vehicles and automakers choosing cheaper platinum for their autocatalysts. Prices of the metal, used by automakers in engine exhausts…
-
Investors pull away from GM’s Cruise bet
By Joseph White and David Shepardson DETROIT (Reuters) – General Motors’ bet that its Cruise robo-taxi unit will deliver $50 billion in revenue by 2030 is facing its toughest test. GM Chief Executive Mary Barra has stuck with Cruise in the face of skepticism from investors, arguing that Cruise technology will save lives – and…
-
Price wars during Chinese shopping fest expose consumer woes
By Sophie Yu and Casey Hall BEIJING (Reuters) – A ferocious price war among China’s e-commerce retailers during the “Singles Day” shopping event is exposing further weakness in household consumption and raising concerns that the world’s second-largest economy will resume its slowdown. Originally a 24-hour online shopping event in China held on Nov. 11, Singles…
-
International travel demand falls after onset of Israel-Hamas conflict, data shows
By Doyinsola Oladipo NEW YORK (Reuters) – International flight bookings around the world have fallen since the onset of the Israel-Hamas conflict especially in the Americas as people cancel trips to the Middle East and around the world, according to travel analysis firm ForwardKeys. Global travel demand has weakened since the Palestinian Islamist group Hamas…
-
Nvidia plans to release three new chips for China – analysts
By Stephen Nellis, Max A. Cherney and Fanny Potkin SAN FRANCISCO (Reuters) -Nvidia plans to release new artificial intelligence chips aimed at the Chinese market less than a month after U.S. officials tightened the rules on selling high-end AI chips to China. The chip industry newsletter SemiAnalysis said that the Nvidia chips are called the…
-
Wearable ‘Ai Pin’ launched by Humane, backed by ex-Apple execs and Microsoft
By Stephen Nellis (Reuters) – Humane, a Silicon Valley startup with a star-studded list of co-founders and executives, on Thursday released a $699 device that aims to bring cutting-edge artificial intelligence to a lapel near you. The Ai Pin, as the device is called, is designed to be worn on clothing and can be tapped…