By Chris Kirkham and Rachael Levy (Reuters) – As Tesla’s electric-vehicle sales have flattened this year, CEO Elon Musk has increasingly staked the company’s future on his vision for self-driving robotaxis, despite the massive technological and regulatory obstacles in delivering them. Now Musk – as one of President-elect Donald Trump’s biggest backers – may have…
BRUSSELS (Reuters) -The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters. “The European Commission has fined Meta … for breaching EU antitrust rules by tying its online classified ads service Facebook Marketplace to its personal…
By Kanishka Singh WASHINGTON (Reuters) -JPMorgan Chase CEO Jamie Dimon will not be invited to be a part of Donald Trump’s administration, the U.S. president-elect said on social media on Thursday. “I respect Jamie Dimon, of JPMorgan Chase, greatly, but he will not be invited to be a part of the Trump Administration,” Trump said…
(Reuters) – Shares of Hims & Hers Health slumped 15% on Thursday after Amazon.com launched a rival service that offers upfront pricing for telehealth visits. Amazon said it is introducing low, upfront pricing for a clinical visit, treatment plan, and free medication delivery for Prime members for a range of common health, beauty and lifestyle…
(Reuters) -Cisco Systems forecast quarterly revenue and profit above Wall Street estimates after posting upbeat first-quarter results, helped by improving demand for its networking gear amid the AI boom. Shares of the computer networking equipment maker were down 1.4% in extended trading after the company forecast annual revenue broadly in line with estimates. Companies have…
By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) -Walt Disney shares surged Thursday after the entertainment giant reported quarterly earnings that beat Wall Street’s estimates and offered robust guidance for the coming years. The company projected adjusted earnings-per-share percentage growth in the high single digits in fiscal 2025, even with capital expenditures of roughly…
By Bo Erickson (Reuters) -Republican Dave McCormick won the U.S. Senate election in Pennsylvania, Decision Desk HQ projected on Thursday, beating Democratic incumbent Bob Casey in an important win for Republicans hoping to capture a majority in the chamber. Pennsylvania will conduct a legally required statewide recount of the ballots because McCormick’s lead is within…
(Reuters) -Advance Auto Parts said on Thursday it will close about 500 stores by mid-2025 and cut some jobs as demand for vehicle parts takes a hit from fewer consumers opting to repair their cars, sending its shares up 4.5% in afternoon trading. The automotive industry has had a difficult second half of the year,…
By Patricia Zengerle WASHINGTON (Reuters) – Nearly 90 Democratic lawmakers urged U.S. President Joe Biden to sanction members of Israeli Prime Minister Benjamin Netanyahu’s government over anti-Palestinian violence in the West Bank, according to a letter released on Thursday. Urging Biden to send a message to U.S. partners before he leaves office, the members of…
(Reuters) – World’s third-largest contract chipmaker, GlobalFoundries , forecast fourth-quarter revenue above Wall Street estimates on Tuesday, driven by recovering semiconductor demand from smartphone makers, sending shares up nearly 10% in premarket trading. The New York-based company has seen a resurgence in demand from its smart mobile devices segment, offsetting weakness in the Home and…
