(Reuters) -FedEx forecast fiscal 2025 profit above analysts’ estimates on Tuesday, anticipating that the cost reductions planned for the year would deliver margin gains even as revenue remains challenged by lackluster demand for parcel shipping. Shares of FedEx were up 15.3% at $295.49 in extended trading after the delivery company targeted fiscal 2025 earnings of…
(Reuters) -Citigroup has asked its 600 U.S. employees, who are eligible to work remotely, to return to office fulltime, it said on Friday as regulatory requirements make it hard for Wall Street banks to allow offsite work for roles such as trading. Regulators had eased some of the stringent requirements to allow traders the flexibility…
(Reuters) -U.S. prosecutors are examining financial transactions at Block, NBC News reported on Wednesday, citing two people with direct knowledge of the matter. NBC reported that federal prosecutors were discussing with a former employee alleged widespread compliance lapses at Square and Cash App, the company’s two main units. Areas under investigation include whether the company…
PARIS (Reuters) – Google Cloud will use Mistral AI’s Codestral artificial intelligence model for Google’s Vertex AI service, Google Cloud said on Wednesday. WHY IT’S IMPORTANT: The partnership highlights the rapid growth and popularity of Mistral AI, which many analysts view as the European alternative to the Microsoft-backed OpenAI. Google, meanwhile, is building its own…
(Reuters) -Lucid Group said on Friday it would reduce its workforce by 6%, or around 400 employees, as the electric vehicle industry grapples with slower growth. Shares of the EV maker rose around 2% in premarket trading. The company expects to incur a total of around $21 million to $25 million in charges related to…
By Luc Cohen and Susan Heavey NEW YORK/WASHINGTON (Reuters) -Donald Trump’s July 11 sentencing on charges stemming from hush money paid to a porn star may be delayed after prosecutors said on Tuesday they don’t object to giving the former U.S. president a chance to argue he should have been immune from prosecution. Trump’s lawyers…
Andreessen Horowiz’s State of Crypto 2025 crypto report highlights Bitcoin dominance, stablecoin demand, institutional adoption, and more.
By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Germany has fined Citigroup nearly 13 million euros ($13.94 million) for lapses in its trading system controls, the nation’s bank regulator said on Thursday, as its consumer protection division imposed its largest penalty ever. It is related to a mishap in 2022 involving $1.4 billion in mistaken…
(Reuters) -Amazon.com said on Wednesday it would discontinue its security robot, Astro for Business, for small- and medium-sized businesses as it shifts its focus to household robots. The e-commerce giant initially launched the canine-like robot for household use in 2021. Astro for Business was launched last November for a range of customers including retail, manufacturing,…
(Reuters) -3M Co raised the low end of its full-year adjusted profit forecast on Friday expecting to benefit from restructuring measures and increasing demand for electronics, sending its shares up more than 4% in premarket trading. The company has benefited from steady price increases across categories, which have helped it offset inflation and slow demand…
