By Savyata Mishra (Reuters) -Target forecast holiday-quarter comparable sales and profit below estimates on Wednesday as value-conscious consumers shopped for low-priced essentials at rival retailers including Walmart, sending its shares tumbling nearly 20%. The results are in contrast to the world’s no. 1 retailer Walmart, which raised its annual sales and profit forecast for the…
By Max A. Cherney SAN FRANCISCO (Reuters) – Microsoft has designed two additional infrastructure chips for its data centers that will help speed artificial intelligence operations and increase data security, it said on Tuesday at its Ignite conference. Microsoft has devoted significant resources to develop home-grown silicon for general purpose applications and artificial intelligence. Like…
By Niket Nishant, Shivansh Tiwary and Manya Saini (Reuters) – Corporate executives were taking a wait-and-see approach to President-elect Donald Trump’s vow to impose heavy tariffs on imports when he takes office in January, but many have raised concerns about the effect such levies will have on inflation. Numerous major U.S. corporations addressed tariffs at…
By Saeed Azhar (Reuters) – Wall Street veteran Howard Lutnick, whose domain stretches from brokerages to real estate, has been one of Donald Trump’s biggest promoters from the business world in recent months. Lutnick, 63, in August became co-chair of Trump’s transition team for a second four-year term in the White House, tapping his network…
By David Shepardson WASHINGTON (Reuters) -President-elect Donald Trump cannot ignore a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the U.S. by early next year or face a ban, the Democratic chair of a U.S. Senate panel said on Tuesday. Senator Richard Blumenthal, a Democrat who is holding a hearing…
By Joey Roulette (Reuters) – Elon Musk’s SpaceX is set on Tuesday to launch the sixth test of its giant Starship rocket from Texas, eyeing improvements in its hypersonic reentry into Earth’s atmosphere and a novel technique for landing its booster, as U.S. President-elect Donald Trump watches in person. Trump is expected to be joined…
By Jason Lange WASHINGTON (Reuters) – Americans see inflation as the leading issue President-elect Donald Trump should tackle during his first 100 days in office, according to a Reuters/Ipsos published on Tuesday. Some 35% of respondents in the three-day poll, which closed on Sunday, picked inflation as the area Trump should focus on, compared to 30%…
By Rajesh Kumar Singh CHICAGO (Reuters) – Spirit Airlines was expected to be one of the big travel industry winners after the pandemic. But the no-frills pioneer never found its wings in a changed business and operating landscape. On Monday, the Florida-based carrier filed for bankruptcy protection. While speculation about Spirit’s future began swirling immediately…
By Akash Sriram (Reuters) -Tesla shares rose more than 5% on Monday after Bloomberg News reported that President-elect Donald Trump’s transition team was planning to set up federal regulations for autonomous vehicles. The report comes days after Trump named the automaker’s CEO, Elon Musk, as a co-head of the incoming administration’s government efficiency department. Trump’s…
By Juveria Tabassum (Reuters) – Walmart shares are set for their best yearly gains in over two decades as the retail behemoth’s low prices for everyday essentials give it an edge over competitors facing weak demand from budget-conscious consumers. The stock has gained about 60% so far this year, outstripping gains of about 13% in…
