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 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…
MOSCOW (Reuters) – Russian President Vladimir Putin on Monday sacked four deputy defence ministers and appointed a relative, Anna Tsivileva, to fill one of the vacancies. Putin sacked deputy defence ministers Nikolai Pankov, Ruslan Tsalikov, Tatiana Shevtsova and Pavel Popov, according to Kremlin decrees. He appointed Tsivileva, who Russian media said is the daughter of…
(Reuters) – Apple will deliver some of its upcoming artificial intelligence features this year through data centers powered by its own in-house chips, Bloomberg News reported on Thursday, as the iPhone maker looks to integrate generative AI in its products. The company is putting its chips in cloud-computing servers capable of processing advanced AI tasks…
By Lisa Barrington DUBAI (Reuters) – Delta Air Lines is still committed to the Boeing 737 MAX 10 model that it has on order for deliveries beginning next year, even though it does not anticipate receiving the aircraft for some time, CEO Ed Bastian said on Saturday. Delta, one of the largest U.S. airlines, operates…
(Reuters) – The Federal Reserve is far less likely to start cutting interest rates as soon as September, traders bet on Friday, after a U.S. government report showed employers created many more jobs and paid higher wages last month than expected. Nonfarm payrolls rose 272,000 in May, compared with the 185,000 expected, and average hourly…
By Patrick Wingrove (Reuters) -Eli Lilly said on Friday it has invested another $5.3 billion in its new Lebanon, Indiana manufacturing plant, more than doubling its previous investment, as it scrambles to meet soaring demand for its weight-loss and diabetes drugs. The new investment, which brings the total to $9 billion, will help boost production…
By Gabriella Borter, Joseph Ax and Andrew Hay WASHINGTON (Reuters) -Weeks after attending a pro-Palestinian demonstration, Egyptian-American student Layla Sayed received a text message from a friend drawing her attention to a website dedicated to exposing people it says promote hatred of Jews and Israel. “I think they found you from the protest,” the friend…
AMSTERDAM (Reuters) – ASML shares briefly crossed the 1,000 euro ($1,084.30) mark for the first time on Monday, an all-time high, following positive research notes on top customer TSMC ahead of both companies’ earnings. ASML is the world’s biggest vendor of chipmaking equipment and Europe’s third most valuable company with a market capitalisation of 390…
(Reuters) -Qualcomm made a takeover approach to chipmaker Intel in recent days, the Wall Street Journal reported on Friday, citing people familiar with the matter. Intel’s shares reversed course to rise 8%, while Qualcomm fell 4% in afternoon trade. Intel has been attempting to turn its business around by focusing on its chip foundry unit…
