(Reuters) -Oracle’s shares tumbled more than 9% on Tuesday after its quarterly revenue fell short of Wall Street expectations, signaling investor concerns over fierce competition in the cloud business amid booming demand from AI service providers. At $172.78, the company was on track to lose nearly $50 billion in market capitalization if losses hold. Oracle’s…
(Reuters) – Shares of Google parent Alphabet rose about 5% on Tuesday after it unveiled a new generation chip that the company said helped overcome a key challenge in quantum computing. Google on Monday introduced a new chip called Willow, which solved in five minutes a computing problem that would take a classical computer more…
By Mike Scarcella (Reuters) – TikTok and its Chinese owner ByteDance have turned to a veteran U.S. Supreme Court lawyer as they prepare to ask the justices to block a law that could ban the popular short video platform in the United States. Noel Francisco, who served as U.S. solicitor general during Republican President-elect Donald…
HANOI (Reuters) – Vietnamese electric vehicle (EV) manufacturer VinFast on Sunday announced a plan to build its second domestic production plant that will double its output capacity, saying it is needed to meet increased demand for its small and mid-sized models. VinFast said the new facility is expected to produce 300,000 units annually in its…
By Ted Hesson WASHINGTON (Reuters) -U.S. President-elect Donald Trump aims to deport all immigrants in the U.S. illegally over his four-year term but wants a deal to protect so-called “Dreamer” immigrants, he said in an interview that aired on Sunday on NBC News’ “Meet the Press with Kristen Welker.” Trump also said he plans to…
By Seher Dareen (Reuters) – American content creators on TikTok asked followers to subscribe to their channels on rival platforms like Meta-owned Instagram and Alphabet’s YouTube after a federal appeals court ruled that the social media app could be banned if it is not sold to a U.S.-based company by Jan. 19. TikTok has become…
WASHINGTON (Reuters) – Two U.S senators have asked the Federal Trade Commission and Justice Department to investigate online betting platforms DraftKings and FanDuel over concerns they are coordinating against competitors. In a letter dated Dec. 5, Republican Senator Mike Lee and Democratic Senator Peter Welch asked for an investigation following reports that the two companies…
By Tim Reid and Jason Lange WASHINGTON (Reuters) – Elon Musk spent over a quarter of a billion dollars to help Donald Trump win November’s presidential election, according to new filings, underscoring the influence one of the world’s wealthiest people had on this year’s White House race. The billionaire owner of electric car maker Tesla…
By Pete Schroeder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday warned it was “crucial” that a panel charged with monitoring financial risks be able to continue its work as worries grow President-elect Donald Trump’s administration will again weaken the body. Speaking at Friday’s Financial Stability Oversight Council (FSOC) meeting, the last of…
(Reuters) – Goldman Sachs is exploring options, including a potential sale, for its ETF Accelerator platform designed to help the bank’s institutional clients launch their own exchange-traded funds, a source familiar with the matter told Reuters on Friday. This platform is separate from the ETF business of Goldman Sachs’ asset management arm, the source said,…
