By Maria Martinez and Christian Kraemer BERLIN (Reuters) – The implementation of the second pillar of the global minimum tax deal is Germany’s priority and further ideas should not be discussed until there is an agreement on the first pillar, German Finance Minister Christian Lindner said on Friday. “In the second pillar we already have…
(Reuters) -Lucid Group said on Friday it would reduce its workforce by 6%, or around 400 employees, as the electric vehicle industry grapples with slower growth. Shares of the EV maker rose around 2% in premarket trading. The company expects to incur a total of around $21 million to $25 million in charges related to…
By Scott DiSavino (Reuters) -Power use in Texas was on track to break the record for the month of May on Friday for a second time this week and could top that again over the Memorial Day weekend as homes and businesses crank up air conditioners to escape a heat wave. The Electric Reliability Council…
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…
LONDON (Reuters) – Government policies to encourage companies to pay more dividends should increase the attractiveness of China’s stock market for overseas investors, a senior Chinese regulator said on Thursday. Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said the Chinese government set out policies last month to strengthen its capital markets, including…
WASHINGTON (Reuters) – U.S. planemaker Boeing faces a “long road” to address safety issues, the head of the Federal Aviation Administration said on Thursday as it prepares to receive the company’s plan to address concerns. In late February, FAA Administrator Mike Whitaker gave Boeing 90 days to develop a comprehensive plan to address “systemic quality-control…
(Reuters) -Health tech firm Medtronic beat Wall Street estimates for quarterly profit and revenue on Thursday, as a pickup in surgical volumes at hospitals lifted demand for its medical devices. Investor expectations around the financial performance of medical devices makers have grown lately, owing to a resurgence in demand as people, especially older adults, opted…
BENGALURU (Reuters) – Walt Disney has struck a deal to sell its stake in Tata Play, valuing Indian conglomerate Tata Group’s satellite TV provider at about $1 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter. The stake sale news comes as the U.S.-based media giant looks to focus on its merger…
(Reuters) -Analog Devices forecast third-quarter revenue above Wall Street expectations on Wednesday, helped by a rise in demand for its automotive and industrial chips after a prolonged slump, sending its shares up nearly 6% in premarket trading. The company expects revenue of $2.27 billion, plus or minus $100 million, compared with estimates of $2.16 billion,…
By Greg Bensinger (Reuters) -Amazon.com investors voted against all 14 resolutions that asked the retailer to disclose more about its carbon emissions and its directors’ donations, and to form a committee to oversee artificial-intelligence development, among other issues. Amazon announced the preliminary vote at its annual shareholder meeting on Wednesday, where all 12 directors were…
