ZURICH (Reuters) -UBS Group on Wednesday reported a net profit attributable to shareholders of $2.48 billion in the third quarter, beating an average analysts’ estimate of $1.29 billion, according to a company-provided poll. (Reporting by Ariane Luthi, writing by Kirsti Knolle, editing by Dave Graham)
A look at the day ahead in European and global markets from Rae Wee It’s a busy day for markets with a key policy decision from the Federal Reserve and a host of earnings in Europe and from Wall Street’s tech giants, with much riding on the latter in particular to drive the next leg …
Morning Bid: Fed, Big Tech and Trump pageantry rule the day Read More »
LONDON (Reuters) -Pay awards granted by British employers are likely to hold at their current 3% level over the next 12 months as caution dominates and the impact of high inflation fades, data firm Brightmine said on Wednesday. With the Bank of England watching for weaker inflation pressure before resuming its interest rate cuts, Brightmine …
Wary UK employers set to hold pay awards at 3%, Brightmine says Read More »
By Deepa Seetharaman, Stephen Nellis and Deborah Mary Sophia (Reuters) -Microsoft and OpenAI announced a restructuring deal on Tuesday that frees the ChatGPT maker to move away from its nonprofit roots and likely go public so it can finance CEO Sam Altman’s ambitious plans to develop data centers and cutting-edge technology. The deal refashions the …
Microsoft, OpenAI reach deal removing fundraising constraints for ChatGPT maker Read More »
BRASILIA (Reuters) -Some automakers may halt operations in Brazil within two to three weeks if the global chips supply crisis continues, an official said on Tuesday, adding the Brazilian government is contacting Chinese authorities to find a solution. Uallace Moreira, a secretary in Brazil’s Development, Industry, Trade and Services Ministry, did not specify which automakers …
Automakers may halt output in Brazil if chips crisis persists, says government official Read More »
(Reuters) -Mondelez International cut its annual profit forecast on Tuesday, as value-conscious consumers scaled back on purchases of its pricey chocolates and snacks in North America and Europe, and higher cost of cocoa added pressure. Consumers in the U.S. have been seeking healthier snacking options as they turn more conscious of their protein and sugar …
Cadbury maker Mondelez slashes annual profit forecast as demand weakens Read More »
(Reuters) -Computer chip equipment maker ASM International reported third-quarter bookings below market expectations on Tuesday, hit by a larger-than-expected drop in orders from Chinese chipmakers Although ASM reported higher AI-related spend from clients, the rise was less than it had expected. Bookings, the industry’s most closely watched figure, came in at 637 million euros ($743 …
ASM bookings hit by disappointing China, AI demand Read More »
By Supantha Mukherjee and Louise Rasmussen STOCKHOLM (Reuters) -Nvidia will pay $1 billion for a stake of 2.9% in Nokia as part of a deal focused on AI and data centers, the Finnish telecom equipment maker said on Tuesday as its shares hit their highest level in nearly a decade. Nokia said the companies will …
Nvidia’s $1 billion stake sends Nokia to decade high on AI hopes Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Europe’s biggest telecommunications companies urged the head of the European Commission on Tuesday to loosen EU merger rules, a move they said would boost much-needed investments in digital infrastructure and help them compete with U.S. and Asian peers. The call by the chief executives of Deutsche Telekom, Orange, Telefonica, …
Major telcos urge EU’s von der Leyen to ease merger rules to boost investments Read More »
By John Revill ZURICH (Reuters) -Logitech on Tuesday reported better-than-expected sales and earnings for the second quarter as the computer peripherals maker sold more of its artificial intelligence-enabled products. The Swiss-American company said its sales rose 6% to $1.19 billion for the three months ended September 30. The figure came in slightly ahead of the …
Logitech’s second-quarter earnings boosted by AI-enabled products Read More »
