By Anirban Sen (Reuters) – Walt Disney said on Wednesday it may have to pay up to $5 billion more to buy Comcast’s minority stake in Hulu, if an appraiser were to agree with Comcast’s assessment that the stake should be valued at more than $40 billion. Earlier this year, Disney and Comcast hired investment…
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…
WASHINGTON (Reuters) – U.S. Senator Mark Warner is attempting to assemble a group of Democratic senators to ask Joe Biden to exit the presidential race after last week’s debate performance, the Washington Post reported on Friday, citing two unidentified people with knowledge of the effort. Warner, the chair of the Senate Intelligence Committee, earlier this…
By David Lawder and Ann Saphir WASHINGTON (Reuters) – The U.S. central bank might have begun cutting interest rates in late July had it known that the labor market was cooling as fast as it has been, Federal Reserve Chair Jerome Powell said on Wednesday. “If you ask, you know, if we’d gotten the July…
(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…
WASHINGTON (Reuters) – China has not responded to U.S. nuclear-weapons risk-reduction proposals and Washington has questions about Beijing’s call for no-first-use talks while China continues to build up its arsenal, the top U.S. arms control official said on Wednesday. Under Secretary of State Bonnie Jenkins told the Senate Foreign Relations Committee the U.S. estimates China…
(Reuters) – Russian President Vladimir Putin said on Friday that Ukrainian President Volodymyr Zelenskiy had no legitimacy following the expiry of his five-year term and this would raise a legal obstacle if Russia and Ukraine were to resume peace talks. With Ukraine still under martial law in the third year of Russia’s full-scale invasion, Zelenskiy…
(Reuters) -Chipotle Mexican Grill surpassed market estimates for quarterly sales on Wednesday as demand for its rice bowls and burritos held up even as prices increased, lifting its shares about 15% in extended trading. The California-based chain has been able to buck a larger slowdown in customer traffic within the U.S. restaurant industry, partly because…
(Reuters) -Credit card giant American Express raised its full-year profit forecast on Friday, as its wealthy customers persisted in splurging on travel, dining and entertainment. The company also reported better-than-expected second-quarter profit, underscoring the benefit it has enjoyed by focusing on a premium customer base. AmEx’s affluent cardholders have somewhat insulated it from weakness in…
By Ananya Mariam Rajesh (Reuters) – CoverGirl parent Coty missed fourth-quarter revenue expectations on Tuesday, impacted by its divestiture of Lacoste fragrance license and controlled orders from cautious retailers, which weighed on growth in prestige and mass-market perfumes. Its decision to sell the Lacoste license back to Lacoste resulted in a 2% impact on net…
