By Arsheeya Bajwa (Reuters) -International Business Machines is nearing a deal to buy cloud software provider HashiCorp, according to a person familiar with the matter. Hashicorp’s stock surged 24%, giving it a market value of $6.1 billion, after the Wall Street Journal first reported the talks. Under CEO Arvind Krishna, IBM has focused on acquisitions…
(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…
(Reuters) -Gap raised its annual sales forecast and its first-quarter results beat market expectations, boosted by strength in its Old Navy and Gap brands as budget-strained Americans snap up its trendy denim bottoms and active wear apparel. Shares of the company surged 21% after the bell as the Banana Republic owner saw strong spring shopping,…
(Reuters) – Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which if passed would be the largest pay package for a CEO in corporate America. The report cited reasons like the “excessive size” of the pay deal,…
By Joe Brock and Allison Lampert SEATTLE (Reuters) – Boeing’s U.S. West Coast factory workers stood in long lines on Thursday to vote on a much-criticized new contract, some loudly calling for a strike, piling pressure on the planemaker as it wrestles with chronic production delays and mounting debt. A potential strike could start on…
NEW YORK (Reuters) – U.S. home energy bills are expected to rise by 7.9% this summer as extreme heat increases cooling costs, according to a study released on Monday by the National Energy Assistance Directors Association and the Center for Energy, Poverty, and Climate. Mid-Atlantic and west coast states are forecast to have the biggest…
By Brendan Pierson (Reuters) – A court-appointed panel on Friday recommended how to divvy up a pool of $2.13 billion in legal fees from nationwide drug industry settlements over the U.S. opioid crisis, with top firms set to receive hundreds of millions of dollars. The panel gave national firm Motley Rice the largest share, with…
By Nathan Layne WEST PALM BEACH, Florida (Reuters) -Donald Trump used his 78th birthday party on Friday to promise deeper tax cuts if he wins the Nov. 5 U.S. election and to make vague predictions of future attacks on U.S. soil after the arrest of Tajik nationals with suspected ISIS ties. Speaking to thousands of…
By Lindsay Dunsmuir (Reuters) -The U.S. economy created far more jobs than expected in May and annual wage growth reaccelerated, underscoring the resilience of the labor market and reducing the likelihood the Federal Reserve will be able to start rate cuts in September. The Labor Department’s closely watched employment report on Friday also showed the…
(This May 14 story is being republished with no changes to text) MEXICO CITY (Reuters) – Chinese carmaker BYD Co has postponed plans to produce lithium cathodes for electric vehicle (EV) batteries in Chile by 2025, the firm’s Americas head told Reuters on Tuesday. Chile’s economic development agency CORFO last year said production at a…
