Reuters US Business

By David Shepardson, Karen Freifeld and Alexandra Alper WASHINGTON (Reuters) -Taiwan Semiconductor Manufacturing Co, GlobalFoundries and at least one other chipmaker are poised to receive their final Chips and Science Act awards from the Biden administration, two people briefed on the matter said. The U.S. Commerce Department recently notified Congress at least three companies are …

TSMC, GlobalFoundries poised to get final Chips Act awards, sources say Read More »

By Chen Aizhu and Siyi Liu SINGAPORE (Reuters) -China faces a squeeze on supplies of cheap Iranian crude, which make up about 13% of imports by the world’s biggest buyer of oil, if Donald Trump ramps up enforcement of sanctions on Tehran after his return as U.S. president in January. Trump, who won Tuesday’s election, …

China’s cheap Iranian oil supply at risk from tighter Trump sanctions Read More »

By Stephen Nellis and Arsheeya Bajwa (Reuters) – Chip designer Qualcomm on Wednesday forecast sales and profit in the current quarter would exceed Wall Street estimates as the company benefits from a wave of launches of flagship Chinese smartphones. The company’s shares rose 5.5% in extended trading. They had surged 12% right after it reported …

Qualcomm chip sales to Chinese smartphone makers fuel strong results Read More »

By Lewis Krauskopf and Amanda Cooper NEW YORK/LONDON (Reuters) -Donald Trump’s victory in the U.S. presidential election unleashed a massive rally in the dollar, drove stocks to record highs and punished bond prices as expectations of tax cuts and tariffs on imports drove optimism about economic growth while fueling worries about inflation. U.S. equity indexes …

Trump comeback drives gains in US stocks and dollar, Treasuries slide Read More »

By Jaspreet Singh (Reuters) -Match Group projected fourth-quarter revenue below Wall Street estimates on Wednesday, signaling that a turnaround of its dating apps including Tinder would take longer and sending shares of the company down more than 13% in extended trading. The company also missed third-quarter revenue estimates. Smaller rival Bumble, meanwhile, posted its first …

Match forecasts lackluster revenue as Tinder turnaround takes longer Read More »

(Reuters) -Bumble posted on Wednesday its first decline in quarterly sales since going public in 2021 and said that it would take longer for the dating app operator to boost its sluggish growth rate. Sticky inflation and high borrowing costs have hit spending by users on the women-centric dating app and its premium subscriptions, limiting …

Bumble posts quarterly sales drop amid slow payoff from app overhaul Read More »

By Anuja Bharat Mistry (Reuters) -Beyond Meat cut the top end of its annual revenue forecast on Wednesday, as cost-conscious consumers reined in spending on its expensive faux meat products and switched to cheaper alternatives. Shares of the company were down about 5% in extended trading. Beyond Meat’s aggressive prices increases over the past few …

Beyond Meat trims upper end of annual revenue forecast on weak faux meat demand Read More »

By Ismail Shakil (Reuters) -Canada on Wednesday ordered Chinese-owned TikTok’s business in the country to be dissolved, citing national-security risks, but added the government was not blocking Canadians’ access to the short-video app or their ability to create content. “The government is taking action to address the specific national security risks related to ByteDance Ltd’s …

Canada orders shutdown of TikTok’s Canadian business, app access to continue Read More »