By Carolina Mandl NEW YORK (Reuters) -Global hedge funds last week dumped the so-called Magnificent Seven megacap stocks, bringing their exposure to the group to a two-year low just ahead of their earnings, according to a Morgan Stanley note to clients seen by Reuters. The bank said the Magnificent Seven stocks accounted for more than…
SHANGHAI ((Reuters)) – Two Chinese-made COMAC aircraft, branded as C909, started flying routes in Vietnam on Saturday, Commercial Aircraft Corporation of China (COMAC), the Chinese planemaker said. The planes were leased by China’s Chengdu Airlines to Vietnamese budget airline VietJet, and the route opening marks the start of COMAC’s commercial operation in Vietnam, according it…
BEIJING (Reuters) -DHL Express, a division of Germany’s Deutsche Post, said it would suspend global business-to-consumer shipments worth over $800 to individuals in the United States from April 21, as U.S. customs regulatory changes have lengthened clearance. The notice on the company website was not dated, but its metadata showed it was compiled on Saturday….
By Abhirup Roy, Aditi Shah, Hyunjoo Jin SAN FRANCISCO/NEW DELHI/SEOUL (Reuters) -Tesla’s long-awaited plans for an affordable car include a U.S-made, stripped-down version of its best-selling electric SUV, the Model Y, but the production launch has been delayed, three sources with knowledge of the matter told Reuters. Tesla has promised affordable vehicles beginning in the…
BEIJING (Reuters) – Nvidia CEO Jensen Huang said on Thursday that China was a very important market for Nvidia after the U.S. imposed a ban on sales of its H20 artificial intelligence chips to the country. “We hope to continue to cooperate with China,” Huang said in a meeting with Ren Hongbin, head of the…
BEIJING (Reuters) – China’s foreign ministry dismissed as “groundless” on Friday an accusation by Ukrainian President Volodymyr Zelenskiy that the country had been supplying weapons to Russia. Despite maintaining close economic ties with Russia during Moscow’s three-year war in Ukraine, China has sought to project an image of neutrality and denies any involvement in the…
(Reuters) -Alphabet’s Google plans to appeal against the “adverse” portion of the court decision in the U.S. Department of Justice’s monopoly case against the technology giant. On Thursday U.S. District Judge Leonie Brinkema found Google liable for “willfully acquiring and maintaining monopoly power” in markets for publisher ad servers and ad exchanges. Publisher ad servers…
By Douglas Gillison WASHINGTON (Reuters) -A federal judge on Friday halted the mass firings carried out Thursday afternoon at the U.S. Consumer Financial Protection Bureau, saying she was deeply concerned that the Trump administration had violated court orders setting conditions on dismissals. On Thursday, the agency fired between 1,400 and 1,500 workers, eliminating as much…
By Andrea Shalal WASHINGTON (Reuters) -White House economic adviser Kevin Hassett said on Friday President Donald Trump and his team were studying the matter when asked if firing Federal Reserve Chair Jerome Powell was an option, an indication that a matter of great consequence for the central bank’s independence and for global markets remained under…
SAN FRANCISCO (Reuters) -A U.S. judge’s ruling that Google has illegal monopolies in ad technology sets up the possibility of U.S. prosecutors seeking a breakup. Here’s what the case involves and what Google owner Alphabet faces from here. WHAT IS THIS ABOUT? The most important thing is what this is not about: this is not…
