By Twesha Dikshit (Reuters) -Adobe’s shares dropped 7% in early trading on Friday as investors’ concern that the company’s AI adoption into its software tools could take longer to fetch returns, overshadowed a raised annual revenue forecast. “(We see) increasing concerns surrounding competitive pressures and a longer time horizon to reach notable AI monetization,” said…
By Siddhi Mahatole (Reuters) -Amazon said on Friday its healthcare business will be divided into six new units as part of a restructuring effort, in a move that comes after recent top health executive departures. The company’s chief medical officer, Sunita Mishra, stepped down last month, while Aaron Martin, who has been the vice president…
(Reuters) -Anne Wojcicki is set to regain control of 23andMe after a nonprofit she controls topped Regeneron Pharmaceuticals’ bid for the DNA-testing company for $305 million as part of a bankruptcy auction. Last month, Regeneron agreed to buy the firm for $256 million, topping a $146 million bid from Wojcicki and TTAM Research Institute. “The…
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(Reuters) -New York and more than two dozen other U.S. states sued 23andMe to challenge the sale of its customers’ private information after the genetic testing company filed for bankruptcy in March. Twenty seven states, including Pennsylvania, Michigan and Florida, and the District of Columbia filed the lawsuit on Monday in 23andMe’s U.S. bankruptcy proceedings…
WASHINGTON (Reuters) -China is three to six months behind the United States in artificial intelligence, White house AI and crypto czar David Sacks said Tuesday at an event in Washington, warning that excess U.S. AI regulation could damage American innovation in the industry. “China is not years and years behind us in AI. Maybe they’re…
By Abigail Summerville NEW YORK (Reuters) -Pharmacy chain Walgreens and reality star turned entrepreneur Kourtney Kardashian are among those picking over the remaining assets in Rite Aid’s bankruptcy, according to two people familiar with the matter. In addition to Walgreens, brand management companies Authentic Brands Group, WHP Global and Marquee Brands have been evaluating Rite…
By Amanda Stephenson CALGARY (Reuters) -The U.S. relies on Canadian oil imports, despite comments to the contrary by U.S. President Donald Trump, Cenovus Energy CEO said on Tuesday. Trump has threatened on-again, off-again tariffs on Canada’s oil, of which nearly 4 million barrels per day are exported to the United States. Canada is the world’s…
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WASHINGTON (Reuters) -U.S. President Donald Trump said on Monday he would support the arrest of California Governor Gavin Newsom over possible obstruction of his administration’s immigration enforcement measures, amid protests in the state. Trump border czar Tom Homan threatened on Saturday to arrest anyone who obstructed enforcement efforts in the state, including Newsom and Los…
