Category: Business
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Broadcaster Fox’s ad revenue falls 20% on weak political ad spending
By Zaheer Kachwala (Reuters) -Fox Corp reported a 20% fall in advertising revenue on Wednesday hurt by lower political ad spend, while concerns over uncertainty in ad spending and the future of sports programming sent the broadcaster’s shares down around 6%. The company, which broadcasted the Super Bowl last year, is attempting to capitalize on…
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Ryanair CEO: Boeing quality is a concern, further delays possible
By Patricia Vicente Rua LISBON (Reuters) – Ryanair is concerned by shortcomings identified by U.S. regulators in a report into the Alaska Airlines 737 MAX 9 accident, and increased regulatory supervision is set to “slow things down” at Boeing, CEO Michael O’Leary said on Wednesday. Ryanair, Europe’s largest airline by passenger numbers and one of…
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US trade deficit rises marginally in December; narrows sharply in 2023
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit widened slightly in December, but contracted by the most in 14 years in 2023 as imports declined and exports jumped to a record high. The report from the Commerce Department on Wednesday also showed the United States’ rising status as a major oil producer, with…
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Big Oil offers record returns to lure investors back
By Ron Bousso LONDON (Reuters) – Big Oil firms are handing shareholders more money than ever and are promising more going forward in an attempt to reassure investors of their discipline and resilience in the face of an uncertain outlook for fossil fuels. The top five Western oil and gas firms – BP, Chevron, Exxon…
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Bearish trades engulf New York Community Bancorp options as shares sink
By Saqib Iqbal Ahmed NEW YORK (Reuters) – New York Community Bancorp options drew increasingly bearish trading on Wednesday, as the bank’s shares extended their recent sell-off. Put contracts that would guard against a plunge in the shares below $2 by mid-March were among the most actively traded, with about 8,000 of them changing hands…
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When Amazon’s new AI tool answers shoppers’ queries, who benefits?
By Arriana McLymore and Greg Bensinger (Reuters) – Amazon.com has begun rolling out a new artificial intelligence assistant that is meant to address shoppers’ product questions, but the feature raises as many questions as it answers. Rufus, as the software is known, will help users, according to Amazon, by guiding them to the toaster ovens…
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Tesla falls on SAP snub report, Piper Sandler price target cut
(Reuters) -Tesla shares came under pressure on Monday after a report that Germany’s SAP was no longer planning to buy electric cars from the U.S. automaker and on Piper Sandler’s price target cut on the stock, citing lower delivery expectations this year. Shares of the Elon Musk-led company fell 4% to $180.46 in late afternoon…
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New quality glitch to delay some Boeing 737 MAX deliveries
By Tim Hepher and Valerie Insinna (Reuters) -Boeing Co said on Sunday it will have to do more work on about 50 undelivered 737 MAX airplanes, potentially delaying some near-term deliveries, after its supplier Spirit AeroSystems discovered two mis-drilled holes on some fuselages. Boeing confirmed the findings in response to a Reuters query after industry…
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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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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…