WASHINGTON (Reuters) – The U.S. Senate on Tuesday passed legislation giving TikTok’s Chinese owner, ByteDance, about nine months to divest the U.S. assets of the short-video app, or face a nationwide ban. President Joe Biden said he will to sign the bill into law on Wednesday. Here is what will likely happen next for TikTok. TIKTOK …
Explainer-What happens now that US TikTok bill has been passed? Read More »
(Reuters) – Tesla shares surged 10% on Wednesday after the electric-car maker eased some worries about growth with a prediction that sales would rise this year and said it would roll out more affordable models in early 2025. The news cheered up investors who were bracing for the worst after a tumultuous week at Tesla …
Tesla jumps as Musk’s promise of ‘more affordable’ cars eases growth fears Read More »
(Reuters) -Apple will hold an event on May 7, the company said on Tuesday, amid reports that it would roll out the long-anticipated revamped versions of iPad Pro and iPad Air next month. The Cupertino, California-based company did not disclose details about the event that would start at 7 a.m. PT (2 p.m. GMT). Bloomberg …
Apple announces event on May 7 amid reports of launch of new iPads Read More »
WASHINGTON (Reuters) – The Federal Aviation Administration said Tuesday it is investigating claims by a union that Boeing retaliated against two employees who in 2022 insisted the planemaker re-evaluate prior engineering work on 777 and 787 jets. The Society of Professional Engineering Employees in Aerospace (SPEEA) said the two unidentified engineers were representatives of the …
FAA probes union claims Boeing retaliated against two engineers in 2022 Read More »
(Reuters) -Oilfield services firm Baker Hughes beat analysts’ estimates for first-quarter profit on higher international drilling demand. Brent crude rose nearly 10% in the quarter on an average, prompting oil firms to drill more, creating demand for oilfield services and equipment offered by Baker Hughes and rivals. International rig count, an indicator of future production, …
Baker Hughes quarterly profit beats estimates on international demand Read More »
By Dietrich Knauth (Reuters) -WeWork founder Adam Neumann has asked a U.S. bankruptcy judge to help his bid to re-acquire the coworking business, saying Monday that WeWork’s management should engage in talks or be forced to cede control of the company’s restructuring. Neumann’s new real estate company, Flow Global, has sought to buy WeWork out …
WeWork founder Neumann wants bankruptcy court’s help in bid to repurchase company Read More »
By Granth Vanaik (Reuters) -Mattel posted a smaller-than-expected loss for the first quarter on Tuesday, helped by the Barbie maker’s tight leash on costs while demand remains tepid for its toys. The toymaker has planned to exit less profitable brands, consolidated its American Girl operating segment and streamlined its supply chain as part of efforts …
Mattel’s quarterly loss smaller than expected as cost cuts pay off Read More »
(Reuters) -Visa sailed past Wall Street estimates for second-quarter profit and revenue on Tuesday, as consumers shrugged off worries of a slowing economy and high interest rates to swipe cards on travel, entertainment and dining out. Shares of the world’s largest payments processor rose 3% in extended trading after the results. U.S. consumer spending has …
Visa results beat expectations on strong consumer spending trends Read More »
By Chibuike Oguh (Reuters) -U.S. stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks. Tesla kicked off the earnings cycle for technology heavyweights after markets closed on Tuesday, announcing the launch of new electric vehicle models and …
Wall Street closes higher as investors digest earnings, megacap outlook Read More »
(Reuters) – Spirit AeroSystems and Boeing entered into a memorandum of agreement to address issues that include the aero parts supplier’s higher levels of inventory, contract assets and lower operational cash flows. Under the MoA, Spirit will maintain a production rate that supports Boeing’s contractual production demand. The plane maker will also pay Spirit an …
Spirit, Boeing enter into memorandum of agreement to improve aero supplier’s issues Read More »
