Nike profits and sales beat forecasts, shares surge 11%
(Reuters) – Nike beat quarterly profit expectations and posted a smaller-than-expected drop in revenue on Thursday, as customers flocked to…
Category: Business
FedEx to spin off its less-than-truckload freight business
(Reuters) -FedEx announced the much-anticipated spinoff of its less-than-truckload freight division on Thursday, as it looks to restructure its operations…
Lamborghini delays first EV launch to 2029 as market not ready
(This Dec. 16 story has been corrected to fix the timing of Ferrari’s EV launch in paragraph 2) SANT’AGATA BOLOGNESE,…
AI startup Databricks hits $62 billion valuation in record VC round
By Krystal Hu and Niket Nishant (Reuters) -Databricks has secured a $62 billion valuation after raising $10 billion in one…
Tesla castigates German union over attempt to oust works council head
FRANKFURT (Reuters) – Tesla accused Germany’s IG Metall union of trying to sow unrest at the EV maker’s gigafactory near…
MicroStrategy’s Nasdaq-100 entry attracts nearly $11 million of retail inflows
By Niket Nishant and Manya Saini (Reuters) – Retail investors poured nearly $11 million into MicroStrategy’s shares on Monday, almost…
US finalizes $9.63 billion loan for Ford, SK On joint battery venture
By David Shepardson WASHINGTON (Reuters) -The U.S. Energy Department on Monday said it has finalized a $9.63 billion loan to…
Lockheed forms subsidiary to help defense companies adopt AI
(Reuters) – Lockheed Martin said on Monday it had formed a subsidiary that will help U.S. defense companies incorporate artificial…
Meta urges California attorney general to stop OpenAI from becoming for-profit, WSJ reports
(Reuters) -Meta Platforms is urging California’s attorney general to block OpenAI’s planned conversion to a for-profit company, the Wall Street…
AI with reasoning power will be less predictable, Ilya Sutskever says
By Jeffrey Dastin VANCOUVER (Reuters) – Former OpenAI chief scientist Ilya Sutskever, one of the biggest names in artificial intelligence,…