By Anton Bridge TOKYO (Reuters) – Japanese technology investor Softbank Group believes it has an advantage over smaller rivals because it can leverage its entire $183.6 billion portfolio to help it build an ecosystem of firms that can employ artificial intelligence, a top executive said on Monday. “Because of the size of our platform, we’re…
(Reuters) -ConocoPhillips on Wednesday agreed to buy Marathon Oil in a $22.5 billion all-stock deal, the latest in a series of mega-deals in the oil and gas industry as companies look to bolster reserves. The U.S. oil and gas industry has been riding a consolidation wave over the last two years. Last year was one…
By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Germany has fined Citigroup nearly 13 million euros ($13.94 million) for lapses in its trading system controls, the nation’s bank regulator said on Thursday, as its consumer protection division imposed its largest penalty ever. It is related to a mishap in 2022 involving $1.4 billion in mistaken…
(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…
By Saeed Azhar and Jonathan Stempel NEW YORK (Reuters) -Citigroup urged a judge to dismiss a lawsuit by a former managing director who accused the bank of firing her in retaliation for refusing to give regulators false information. The third-largest U.S. bank said it lawfully terminated Kathleen Martin because she lacked the leadership and engagement…
By David Shepardson WASHINGTON (Reuters) -A U.S. appeals court on Monday said it will hold oral arguments on Sept. 16 on legal challenges to a new law requiring China-based ByteDance to divest TikTok’s U.S. assets by Jan. 19 or face a ban. On May 14, a group of TikTok creators filed suit to block the…
WASHINGTON (Reuters) – The U.S. House of Representatives narrowly voted Thursday to approve legislation to tighten rules limiting Chinese content in vehicles qualifying for U.S. electric vehicle tax credits. The House voted 217 to 192 to approve the bill, which has not been taken up by the Senate, to tighten the definition of Chinese components…
By Stephen Nellis and Arsheeya Bajwa (Reuters) – For chip designer Nvidia, the generative artificial intelligence boom is the gift that keeps on giving. After riding a demand surge sparked by Big Tech’s rush to roll out chatbots, Nvidia now expects new AI models that are capable of creating video and engaging in human-like voice…
NEW YORK (Reuters) – Shares of Lumen Technologies surged 30% on Wednesday, extending gains from the previous session, after the telecommunications company boosted its annual free-cash-flow forecast due to demand related to artificial intelligence. Lumen shares were trading at $6.54 per share after hitting an intra-day high of $7.83, which is the highest since October…
PANAMA CITY (Reuters) -Ramon Fonseca, who co-founded the now defunct law firm linked to the Panama Papers scandal, died overnight in hospital, his lawyer told Reuters on Thursday morning. “He had been hospitalized since the start of April,” Fonseca’s lawyer Guillermina McDonald said in a phone call, without saying for what Fonseca was being treated….
