By Alexander Cornwell ABU DHABI (Reuters) – The United States, Britain and the European Union are pressing the United Arab Emirates to show it is cracking down on firms evading sanctions imposed on Russia over the war in Ukraine, according to three sources aware of the diplomatic outreach. American, British and EU officials visited the…
Since the first mainstream media coverage on the growth of Artificial Intelligence (AI), investors have paid close attention to this rapidly growing new industry. Investors are closely monitoring AI-related stocks, hoping to capitalize on this potent megatrend. The implementation and utilization of AI across diverse sectors, including healthcare, finance, manufacturing, and transportation, have unveiled new…
By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Thursday it had imposed an enforcement action against Customers Bancorp for “significant deficiencies” around the bank’s risk-management and anti money-laundering practices. The bank’s stock fell by more than 20% after the Fed announced the action, but pared losses to close 13.3% lower at $47.01…
SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva on Friday renewed his criticism of the country’s central bank, dubbing current borrowing costs “unreal,” and saying the recent weakness of the local currency was related to “speculation.” WHY IT’S IMPORTANT Lula, a leftist, has constantly bashed central bank chief Roberto Campos Neto, a…
By Jonathan Stempel (Reuters) – A real estate brokerage owned by Warren Buffett’s Berkshire Hathaway said on Friday it reached a $250 million settlement of nationwide antitrust litigation that is expected to change how real estate agents are paid. HomeServices of America, the largest U.S. real estate brokerage, was the last remaining defendant in a…
By Ismail Shakil and Katharine Jackson WASHINGTON (Reuters) -The White House dismissed as “absolutely false” a New York Times report on Wednesday that said U.S. President Joe Biden had told an ally he was weighing whether to continue his bid for reelection in November. The report was based on a conversation the Times said Biden…
BEIJING (Reuters) – A decision by the Trump administration to sanction China’s Xiaomi Corp in early 2021 was the catalyst for the company’s decision to build its first electric car, CEO Lei Jun said on Friday. Best known for its smartphones and home appliances, Xiaomi entered China’s crowded EV market this year, part of its…
(Reuters) – Online travel agency Expedia beat analysts’ expectations on Thursday for second-quarter profit, helped by sustained demand for international travel, sending its shares up 7% after the bell. “The travel environment was healthy in the second quarter and like the last few quarters, we saw strong ongoing demand internationally relative to the US,” CEO…
By Alexandra Ulmer (Reuters) – A major spending group backing Republican Donald Trump brought in nearly $70 million in donations last month and plans to spend $100 million in advertising over the summer across U.S. election battleground states, according to a memo sent to donors and seen by Reuters. The June 4 memo, written by…
(Reuters) – COVID-19 vaccine makers said data from animals studies showed their 2024-25 shots targeting the JN.1 variant that was dominant earlier this year could neutralize newer subvariants such as KP.2 much better than the older shots. This was disclosed in presentations by the companies ahead of a meeting of the U.S. Food and Drug…
