Business
Citi executive in charge of implementing bank's restructuring departs
(Reuters) - Citigroup's Titi Cole, a top executive in charge of implementing its sweeping restructuring plan, is leaving the bank, an internal memo seen by Reuters showed on Tuesday. Cole, as the head of legacy franchises, executed the third ...
Google launches Trillium chip, improving AI data center performance fivefold
By Max A. Cherney (Reuters) - Google parent Alphabet on Tuesday unveiled a product called Trillium in its artificial intelligence data center chip family that it says is nearly five times as fast as its prior version. "Industry demand for ...
Eutelsat confirms guidance, with OneWeb network on track
(Reuters) - Eutelsat Group, the world's third-biggest satellite operator by revenue, on Tuesday reported third-quarter sales in line with expectations and reiterated its full-year outlook. Sales were 300.8 million euros ($325.38 million), just ...
Meta to shut Workplace app to focus on AI, metaverse
(Reuters) - Meta Platforms will discontinue its work-focused Workplace app as the company shifts its focus on building artificial intelligence and metaverse technologies, the Facebook parent said on Tuesday. Workplace will be shuttered starting ...
US bank failures could surge by almost 50, Nomura analyst says
By Nupur Anand NEW YORK (Reuters) - Almost 50 U.S. lenders could fail in the coming years under pressure from higher interest rates and operational problems, Nomura analyst Greg Hertrich told reporters at the company's New York office on Tuesday.
Analysis-Hopes for 'soft landing' at stake as investors await US inflation data
By Lewis Krauskopf NEW YORK (Reuters) - Investors’ newfound optimism on the U.S. economy faces an important test on Wednesday, with consumer price data set to show whether the soft landing hopes that have fueled recent gains in equities are ...
Explainer-Why are meme stocks rallying again?
By Sruthi Shankar and Medha Singh (Reuters) - GameStop and AMC Entertainment have again captured retail investors' attention, reminiscent of "the meme stock frenzy" that gripped Wall Street three years ago, following social media posts from the ...
Boeing Starliner's crew debut delayed again over spacecraft issue
By Joey Roulette WASHINGTON (Reuters) -Boeing's first Starliner mission carrying astronauts into space has been delayed again - until at least May 21 - over an issue with the spacecraft's propulsion system, the company said on Tuesday. Starliner's ...
Converse to cut jobs as part of Nike's cost-savings plan, Bloomberg News reports
(Reuters) - Footwear brand Converse will cut jobs as part of parent company Nike's on-going $2 billion cost savings plan, Bloomberg News reported on Tuesday citing an internal memo. (Reporting by Juveria Tabassum; Editing by Krishna Chandra ...
China's BYD unveils mid-size hybrid EV pickup in Mexico
MEXICO CITY (Reuters) - Chinese automaker BYD unveiled the Shark, a mid-size hybrid-electric pickup truck, at an event in Mexico on Tuesday. (Reporting by Cassandra Garrison; Editing by Anthony Esposito)
More Business Stories
Teck Resources aiming for $3 billion in annual EBIDTA, focused on building existing projects
Elon Musk's xAI nears $10 billion deal to rent Oracle's AI servers, The Information reports
Argentina traders bet on another big rate cut as inflation eases
Tesco's 10 million pound man - CEO's annual pay package doubles
Comcast to unveil Netflix, Apple TV+, Peacock streaming bundle
NY Fed: Amid rising debt levels, some borrowers face increased stress
Boeing commercial jet deliveries drop by two in April
US Fed's Powell expects inflation to fall, though not as confident as before
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