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(Reuters) – Music industry veteran Merck Mercuriadis has stepped down as the CEO of Hipgnosis Songs Management (HSM), the artist management firm he founded, in a move that could help improve relations with the company’s music royalties fund. Mercuriadis, who has managed bands including Guns N’ Roses and artists such as Elton John and Beyonce, …

Mercuriadis bows out as Hipgnosis Songs Management CEO, to become chair Read More »

(Reuters) -Goldman Sachs is shuffling its management committee, in the latest indication of the power dynamics at the bank, the Wall Street Journal reported on Friday, citing people familiar with the matter. A source familiar with the matter told Reuters that company veterans Alison Mass and George Lee have left the group, which comprises the …

Goldman Sachs shuffles management committee – WSJ Read More »

By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production. Profits from oil majors have been down in 2023 by about a third from record levels in 2022, pressured as oil and gas prices retreated after spiking when …

Exxon beats estimates, ends 2023 with a $36 billion profit Read More »

By David Shepardson and Hyunjoo Jin WASHINGTON/SAN FRANCISCO (Reuters) -U.S. safety regulators on Friday upgraded their probe into Tesla vehicles over power steering loss to the status of an engineering analysis – a required step before the agency could demand a recall. Tesla shares, which dropped more than 25% in January alone, fell more than …

U.S. safety agency deepens probe of Tesla power steering loss Read More »

LONDON (Reuters) -Investors ploughed $20.1 billion into stocks in the week to Wednesday, a report from Bank of America citing data from EPFR said on Friday, rounding off a strong month for equities driven once again by rallying tech shares. U.S. Treasuries meanwhile saw their biggest weekly outflow in seven weeks at $3.6 billion, while …

Investors pile into stocks, dump US Treasuries – BofA Read More »

By Michelle Price and Lananh Nguyen WASHINGTON/NEW YORK (Reuters) – Investors lulled into thinking U.S. regional banks were out of the woods after ruptures last year have been given a jolt by New York Community Bank. The under-the-radar lender’s earnings report sparked a sell-off in regional bank shares in a warning for investors that had …

Analysis-US regional bank sell-off a cautionary sign of more pain to come Read More »

By Lewis Krauskopf NEW YORK (Reuters) – The rally that has taken U.S. stocks to an all-time high is expected to have another powerful driver in 2024: companies buying back more of their own shares. Stock buybacks are projected to increase this year after ebbing in 2023, fueled by forecasts of stronger corporate earnings that …

Analysis-Projected buyback revival stands to bolster US stocks in 2024 Read More »

(Reuters) – NVIDIA Corp experienced a record-breaking surge in market value in January, the largest monthly increase ever, driven by heightened optimism around artificial intelligence (AI), positive analyst projections, and the company’s announcement of expanded AI offerings. The world’s most valuable chipmaker saw its market value expand by an unprecedented $296.52 billion to about $1.52 …

Nvidia sets monthly record with unprecedented market value surge in January Read More »

By Stephen Nellis (Reuters) – Apple on Thursday reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business. But China sales missed analysts’ targets. The 2% rise in overall fiscal first-quarter sales for the company ended four straight quarters of sales declines on the strength of its iPhone 15 …

Apple quarterly profit, revenue top Wall Street targets but China lags Read More »

By Katie Paul and Yuvraj Malik (Reuters) – Meta Platforms issued its first ever dividend days ahead of flagship social network Facebook’s 20th anniversary, while reporting revenue that beat expectations as a result of robust ad and device sales in the holiday shopping period. The company, one of the tech sector’s original unicorns, said the …

Facebook-parent Meta declares first-ever dividend Read More »