By Helen Reid LONDON (Reuters) -Sweden’s Inter IKEA, which supplies furniture to IKEA stores around the world, said on Friday its annual operating profit dropped 26% as the impacts of U.S. tariffs drove up costs. The IKEA brand owner said operating profit for the financial year ended August 31 was 1.7 billion euros ($1.98 billion),…
By Sabrina Valle and Tom Hals (Reuters) -Pfizer plans to sweeten its bid for Metsera, a person familiar with the matter told Reuters, after a judge denied its request to block rival drugmaker Novo Nordisk’s $10 billion offer for the biotech company. Pfizer is racing against the clock to salvage its takeover of Metsera, after…
By Jonathan Stempel (Reuters) -A federal judge on Friday said 36 drugmakers and executives must face nearly all claims in an antitrust lawsuit brought by most U.S. states, accusing them of conspiring to fix prices of 80 generic drugs. Chief Judge Michael Shea of the federal district court in Connecticut rejected claims that 45 states,…
By Jonathan Stempel (Reuters) -Berkshire Hathaway signaled on Saturday that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive. For a 12th straight quarter, Buffett’s conglomerate sold more stocks than it bought for its…
By Stephen Nellis, Akash Sriram and Kenrick Cai WASHINGTON (Reuters) -Apple Chief Executive Tim Cook on Thursday gave forecasts for holiday quarter iPhone sales and overall revenue that surpass Wall Street expectations, powered by orders for iPhone 17 models that the company is racing to fulfill amid continuing supply constraints. The constraints, as well as…
10 AI Stocks to Lead the Next Decade Today’s Breaking News ⏳ When others make $1, you could make $10 [sponsor] AI boom drives trillion-dollar tech valuations and record bets on chipmakers Nvidia’s shares jumped nearly 11% over the past month, adding about $500 billion in market value as it became the first company to reach…
By Trevor Hunnicutt and Eduardo Baptista AIR FORCE ONE/GYEONGJU, South Korea (Reuters) -U.S. President Donald Trump said on Wednesday he will speak to Chinese President Xi Jinping about Nvidia’s state-of-the-art Blackwell artificial intelligence chip at their expected meeting on Thursday. Sales of the U.S. firm’s high-end AI chips to China, which accounted for 13% of…
(Reuters) -U.S. refiner Valero Energy surpassed Wall Street expectations for third-quarter profit on Thursday, helped by a rebound in refining margins. Shares of the company, which kicked off the earnings season for U.S. refiners, rose 1.5% to $164.40 in premarket trading. Refining margins have rebounded from multi-year lows in 2024 after two years of bumper…
By Tom Hals DOVER, Delaware (Reuters) -Elon Musk’s $56 billion pay package from Tesla should have been restored by a vote of the company’s shareholders last year, a Tesla attorney argued to the Delaware Supreme Court on Wednesday. One of the biggest corporate legal battles entered its final stage after a lower court judge rescinded…
By Jody Godoy (Reuters) -A U.S. lawsuit where Alphabet’s Google was ordered on Tuesday to share search data with competitors is just one of the major efforts by U.S. antitrust enforcers to challenge Big Tech companies over their dominance. Here are the statuses of the U.S. antitrust cases or probes against some of the world’s…
