PARIS (Reuters) – Technology and software giant Microsoft will invest 4 billion euros ($4.3 billion) in France as part of the annual ‘Choose France’ business summit, its vice chair and president Brad Smith told Le Figaro paper. Smith said much of this investment money would focus on the artificial intelligence (AI) sector and that Microsoft…
By Allison Lampert, Rajesh Kumar Singh and Svea Herbst-Bayliss CHICAGO (Reuters) – Activist investor Elliott Investment Management told one of Southwest Airlines’ top unions it still wants to replace CEO Robert Jordan, according to a union memo seen by Reuters, even after the carrier pledged to shake up its board. Elliott, which owns 10% of…
By Louise Rasmussen and Gwladys Fouche OSLO (Reuters) -Norway’s $1.7 trillion sovereign wealth fund said on Saturday it will vote against ratifying Tesla CEO Elon Musk’s $56 billion pay package, which is up for a shareholder vote next week, after a Delaware judge invalidated it earlier this year. The fund is Tesla’s eighth-biggest shareholder, according…
Since the first mainstream media coverage on the growth of Artificial Intelligence (AI), investors have paid close attention to this rapidly growing new industry. Investors are closely monitoring AI-related stocks, hoping to capitalize on this potent megatrend. The implementation and utilization of AI across diverse sectors, including healthcare, finance, manufacturing, and transportation, have unveiled new…
By Gram Slattery and David Shepardson YORK, Pennsylvania (Reuters) -Republican presidential candidate Donald Trump pledged on Monday to rescind a Biden administration rule limiting power plant pollution, and reiterated a promise to block Nippon Steel’s planned purchase of U.S. Steel. In the most detailed economic remarks he has offered on the campaign trail so far,…
WASHINGTON (Reuters) – U.S. consumer prices were unexpectedly unchanged in May amid cheaper gasoline, but inflation likely remains too high for the Federal Reserve to start cutting interest rates before September against the backdrop of a persistently strong labor market. The unchanged reading in the consumer price index reported by the Labor Department’s Bureau of…
By Hyunjoo Jin, Ross Kerber and Tom Hals SAN FRANCISCO (Reuters) -Tesla will use Thursday’s strong support for Elon Musk’s $56 billion pay package to try to win over a Delaware judge that invalidated his 2018 agreement, the company’s board president said Friday. The long process to reaffirm the largest-ever corporate pay package ended Thursday,…
By Joey Roulette and Steve Gorman CAPE CANAVERAL, Florida (Reuters) – Boeing’s new Starliner astronaut capsule is poised for launch on Saturday in a much-delayed first crewed test flight, a milestone in the beleaguered aerospace giant’s aim to compete with Elon Musk’s SpaceX in the astronaut launch business. The CST-100 Starliner with two astronauts aboard…
(Reuters) – Chicago Federal Reserve President Austan Goolsbee on Friday said he believes U.S. monetary policy is “relatively restrictive,” meaning that borrowing costs are putting downward pressure on inflation. Increased supply, including on the labor side, makes it difficult to interpret if strong job gains and economic growth indicate any worrisome overheating, he said at…
By Arsheeya Bajwa TAIPEI (Reuters) – Advanced Micro Devices unveiled its latest artificial intelligence processors on Monday and detailed its plan to develop AI chips over the next two years in a bid to challenge industry leader Nvidia. At the Computex technology trade show in Taipei, AMD CEO Lisa Su introduced the MI325X accelerator, which…
