By Stephen Nellis and Alexandra Alper (Reuters) – The United States beefed up its effort to cut off the flow of advanced technology to China by instructing Nvidia Corp and Advanced Micro Devices to stop sending their flagship artificial intelligence chips there. While the news shocked the chip sector by the time markets closed Thursday, …
With new China AI chip restrictions, U.S. takes aim at a critical niche Read More »
By Marc Jones and Koh Gui Qing NEW YORK (Reuters) – September kicked off on a stormy note on Thursday, as persistent worries about rising global interest rates and recessions hounded stocks, bonds and oil prices, and vaulted the U.S. dollar to a 24-year high against the yen. Indeed, data released early Thursday that showed …
Stocks slide, dollar soars as September starts stormy Read More »
By John McCrank NEW YORK (Reuters) -The dollar index vaulted to a 20-year high on Thursday, and notched a 24-year peak against the rate-sensitive Japanese yen, after U.S. data showed a resilient economy, giving the Federal Reserve more room to aggressively hike interest rates to quell inflation. The U.S. currency firmed after a government report …
Dollar hits 20-year high as data support aggressive Fed Read More »
(Reuters) -Amazon.com Inc introduced a new service on Wednesday to help its sellers store bulk inventory and ease distribution to tackle supply-chain issues, the company said in a blog post. The new service, called Amazon Warehousing and Distribution (AWD), is now available for sellers using Amazon’s program which allows businesses to outsource order fulfillment to …
Amazon introduces seller storage service to tackle supply-chain woes Read More »
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices tumbled more than 3% on Thursday, as new COVID-19 lockdown measures in China added to worries that high inflation and interest rate hikes are denting fuel demand. Brent crude settled down $3.28 at $92.36 a barrel, a 3.4% drop. U.S. West Texas Intermediate (WTI) crude futures fell …
Oil slides 3% as China lockdowns stoke demand fears Read More »
By Noel Randewich (Reuters) – U.S. chip stocks tumbled on Thursday, with the main semiconductor index down more than 3% after Nvidia and Advanced Micro Devices said U.S. officials told them to stop exporting cutting-edge processors for artificial intelligence to China. Nvidia’s stock plummeted 11%, on track for its biggest one-day percentage drop since 2020, …
Chip wreck: Nvidia sinks sector after U.S. restricts China sales Read More »
NEW DELHI (Reuters) – The Canada Pension Plan Investment Board (CPPIB), Malaysian state-run Petronas and Arcelormittal SA are among the 13 bidders for a minority stake in the green energy unit of India’s NTPC Ltd, a company official said on Thursday. NTPC, the country’s largest utility, anticipates the private placement will initially raise 20 billion …
MOSCOW (Reuters) – Russia is looking forward to intensifying cooperation in the energy sector with Japan’s Mitsui, Deputy Prime Minister Alexander Novak was quoted as saying in a government statement on Thursday. At the meeting with a representative of Mitsui, Motoyasu Nozaki, Novak said Moscow was especially looking forward to cooperation in terms of investment …
Russia hopes to intensify cooperation in energy sector with Mitsui -Novak Read More »
By Aditya Kalra, Aditi Shah and Abhirup Roy NEW DELHI (Reuters) – A full-scale antitrust review of plans to create a $10 billion media powerhouse in India by Japan’s Sony and Zee Entertainment could force concessions and prolong the process by months at a critical moment for the Indian company. An initial Competition Commission of …
Sony-Zee $10 billion media play may face changes, delays in India antitrust review Read More »
By Tetsushi Kajimoto and Kentaro Sugiyama TOKYO (Reuters) -The yen’s fall to a 24-year low against the dollar on Thursday prompted policymakers to warn they were watching currency moves with a “high sense of urgency”, using strong language to hint at a possibility of eventual market intervention. The currency fell to 139.69 per dollar, a …
Japan warns against volatility as yen slumps to 24-year low Read More »
