Reuters US Business

By Arsheeya Bajwa (Reuters) -Palantir Technologies raised its annual revenue forecast for the second time this year on Monday, the latest sign that the generative AI boom is driving demand for its software services. Shares of the Denver, Colorado-based company rose more than 13% in extended trading, adding to a year-to-date gain of more than …

Palantir raises annual revenue forecast on GenAI strength; shares surge Read More »

By Makailah Gause NEW YORK (Reuters) – The financial market upheaval of the last several days may soon offer a silver lining to millions of U.S. households: Mortgage rates look set to fall further, offering an opening for those eager to get a toehold in an expensive housing market and an opportunity for others who …

US bond yield drop suggests lower mortgage rates may be coming Read More »

(Reuters) – Hugo Boss has sold its Russian business to wholesale partner Stockmann for an undisclosed fee, the German fashion house said on Monday, joining the ranks of Western brands to exit the Russian market over the war in Ukraine. The German fashion company suspended its retail business in Russia soon after Moscow invaded Ukraine …

Hugo Boss sells Russian business to wholesale partner Stockmann Read More »

By David Shepardson WASHINGTON (Reuters) -CrowdStrike on Sunday rejected a claim by Delta Air Lines that it should be blamed for flight disruptions following a July 19 global outage sparked by a faulty update, and suggested it had minimal potential liability. Delta CEO Ed Bastian said last week the outage had cost the U.S. airline …

CrowdStrike rejects Delta Air Lines claims over flight woes Read More »

(Reuters) – Billionaire Elon Musk said on Sunday the Federal Reserve needs to cut interest rates and that it was foolish for the U.S. central bank not to have done so already. Musk’s comment, which was made in response to a post on the social media site X, followed a run of weak data last …

Elon Musk says Fed foolish not to have cut interest rates Read More »

(Reuters) – Design flaws could cause a delay of three months or more in the launch of chip giant Nvidia’s upcoming artificial-intelligence chips, tech-focused publication the Information said on Friday. The setback could affect customers such as Meta Platforms, Alphabet’s Google and Microsoft, which have collectively ordered tens of billions of dollars’ worth of chips, …

Delay to Nvidia’s new AI chip could affect Microsoft, Google, Meta, the Information says Read More »

By Dietrich Knauth NEW YORK (Reuters) – SVB Financial Group, the former owner of failed Silicon Valley Bank, received a U.S. judge’s permission on Friday to turn over its assets to creditors and end its bankruptcy. Its bankruptcy restructuring has made provision for the creation of a trust to pursue litigation against the U.S. Federal …

Silicon Valley Bank’s former owner gains approval to end bankruptcy Read More »

By Michael S. Derby NEW YORK (Reuters) – Richmond Federal Reserve President Thomas Barkin said he is not ready to change his monetary policy outlook after the release of unexpectedly weak U.S. jobs data on Friday, even as Wall Street shifted toward expectations of aggressive interest rate cuts. “The job growth was weaker than what …

Fed’s Barkin tells PBS program he won’t prejudge what to do at next meeting Read More »