By Sarita Chaganti Singh and Shivangi Acharya NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi’s government has decided to let lapse a $23 billion program to incentivize domestic manufacturing, just four years after it launched the effort to woo firms away from China, according to four government officials. The scheme will not be expanded…
By Nell Mackenzie and Naomi Rovnick LONDON (Reuters) -Hedge funds have crowded into debt-fuelled bets on UK government bonds, increasing the potential for instability in the gilts market, a benchmark for borrowing costs in Britain including mortgages, investors and hedge fund sources say. Bank of England chief Andrew Bailey said in February that non-bank institutions…
By Shadia Nasralla (Reuters) – BP has agreed to sell a stake in a firm invested in the TANAP gas pipeline linking Azerbaijan and Turkey for $1 billion to Apollo Global Management, the two firms said on Friday. CEO Murray Auchincloss is spearheading a $20 billion disposal programme through 2027 as BP looks to cut…
PARIS (Reuters) – Pasqal, a fast-growing French quantum computer start-up company, announced on Friday a partnership with chip giant Nvidia whereby Pasqal’s customers would gain access to more tools to develop quantum applications. Pasqal said it would connect its quantum computing units and cloud platform onto NVIDIA’s open-source platform called CUDA-Q. “Our collaboration with NVIDIA…
(Reuters) -Micron Technology forecast third-quarter revenue and posted second-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for its high-bandwidth memory (HBM) chips used by the AI industry. The company’s shares rose nearly 5% in after-hours trading, following a 9% increase earlier this month on investor optimism that Micron would benefit from artificial…
(Reuters) – FedEx Corp lowered its full-year revenue and profit forecast on Thursday, as the parcel delivery firm seeks new business after its contract with its largest customer, the United States Postal Service, ended last year. The company expects its full-year revenue to be flat to slightly down year over year, compared to the prior…
(Reuters) -Apple is losing more than $1 billion a year on its streaming service, the Information reported on Thursday, citing two people familiar with the matter. The tech giant has spent more than $5 billion a year on content since launching Apple TV+ in 2019 but trimmed it by around $500 million last year, the…
By Rishika Sadam HYDERABAD (Reuters) -Eli Lilly launched its blockbuster diabetes and weight-loss drug Mounjaro in India on Thursday, beating rival Novo Nordisk for a much-awaited entry into the world’s most populous country grappling with increasing rates of obesity and diabetes. U.S.-based Lilly and Danish Novo Nordisk have seen skyrocketing global demand for their innovative…
By Daphne Psaledakis and Kanishka Singh WASHINGTON (Reuters) – The U.S. State Department said on Wednesday there was still a bridge proposal that would extend the ceasefire” in Gaza but the opportunity for it was “closing fast.” A State Department spokesperson said the proposal would also “see the release of five live hostages, including American…
(Reuters) -Nvidia CEO Jensen Huang said on Wednesday that orders for some 3.6 million of its flagship “Blackwell” chips from four top cloud service providers “under represented” demand, since they did not include orders from key customer Meta. Facebook-owner Meta Platforms is among the largest buyers of Nvidia chips and Mark Zuckerberg, CEO of the…
