(Reuters) – Top U.S. independent oil producer ConocoPhillips said on Friday it received a second request from the U.S. Federal Trade Commission for information on its proposed acquisition of rival Marathon Oil. ConocoPhillips said both companies received the requests on July 11 and are working with the FTC to review the merger. CONTEXT Conoco said…
BEIJING (Reuters) – U.S. Secretary of State Antony Blinken met his Chinese counterpart Wang Yi and Chinese leader Xi Jinping in Beijing on Friday in the latest high-level contacts between the superpowers aimed at keeping tense relations under control. The visit brought little progress on contentious issues, including China’s support for Russia in Ukraine, tensions…
(Reuters) – Photoshop maker Adobe forecast fourth-quarter earnings below analysts’ estimates on Thursday, signaling stiff competition and soft demand for its AI-integrated editing tools amid challenging economic conditions. Shares of the company fell 9.2% in extended trading. High interest rates and a tough economy have led enterprises and individuals to focus on cutting costs, putting…
WASHINGTON (Reuters) – A group of 26 state attorneys general led by West Virginia and Kentucky on Wednesday challenged the Biden administration’s new fuel economy rules, calling the requirements unworkable and forcing automakers to build more electric vehicles. The National Highway Traffic Safety Administration on June 7 finalized tighter vehicle fuel economy rules through 2031…
(Reuters) – Meta Platforms is exploring making earphones powered by artificial intelligence with cameras, The Information reported on Monday citing employees familiar with the matter. A slew of companies, from startups to conglomerates including Meta, are looking to develop AI-based wearable devices to capture growing interest in the sector. The Facebook-parent expects the device, being…
By Jody Godoy ALEXANDRIA, Virginia (Reuters) – A Google executive told colleagues the goal for the company’s then-nascent online advertising business in 2009 was to “crush” rival advertising networks, according to evidence prosecutors presented at the tech titan’s antitrust trial on Wednesday. The statements underscored the U.S. Department of Justice’s claim that Google has sought…
By Moira Warburton WASHINGTON (Reuters) -A growing number of Democrats in Congress are publicly calling on Democratic President Joe Biden to end his reelection bid after the 81-year-old incumbent’s halting debate performance against Republican rival Donald Trump. While many lawmakers have expressed unease with Biden’s continued candidacy – and others have steadfastly backed the incumbent’s…
NEW YORK (Reuters) -Futures on the federal funds rate, which measures the cost of unsecured overnight loans between banks, priced on Wednesday about 74 basis points of additional interest rate cuts by the Federal Reserve by the end of this year, LSEG calculations showed. This development followed a decision by the Fed earlier in the…
By Johann M Cherian and Purvi Agarwal (Reuters) – Wall Street’s main indexes slipped on Friday as investors held back after a rally in the previous session that was sparked by an oversized interest rate cut by the Federal Reserve. The S&P 500 and the Dow hovered near their record highs and were on track…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Elon Musk is offering factory tours to 15 Tesla shareholders who vote on his $56 billion pay package at the upcoming meeting, the latest effort by the electric vehicle maker to rally votes for the compensation after a court struck it down. The upcoming vote is seen as…
