(Reuters) – OpenAI’s annualized revenue recently topped $1.6 billion on strong growth from its ChatGPT product, up from $1.3 billion as of mid-October, the Information reported on Saturday citing people with the knowledge of the figure. (Reporting by Jose Joseph in Bengaluru; editing by Diane Craft)
By Jonathan Stempel NEW YORK (Reuters) -U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange. In a letter filed on Friday night in federal court in Manhattan, prosecutors said the “strong public interest” in …
By GursimranKaur Mehar and Mrinmay Dey (Reuters) -A U.S. court on Friday upheld a Federal Trade Commission (FTC) order to block IQVIA’s acquisition of DeepIntent, a healthcare advertising firm, as it may harm competition. DeepIntent, owned by Propel Media, a digital advertising company, entered into an agreement with U.S. headquartered healthcare data and analytics firm …
US judge allows FTC to temporarily block IQVIA acquisition of DeepIntent Read More »
By Nate Raymond (Reuters) – Consulting firm McKinsey & Co has agreed to pay $78 million to resolve claims by U.S. health insurers and benefit plans that it fueled an epidemic of opioid addiction through its work for drug companies including OxyContin maker Purdue Pharma. The settlement was disclosed in papers filed on Friday in …
McKinsey to pay $78 million in US opioid settlement with health plans Read More »
By Lewis Krauskopf NEW YORK (Reuters) -The U.S. stock market’s hefty gains in 2023 could provide a lift for equities next year, if history is any guide. The S&P 500 ended the year on Friday with an annual gain of just over 24%. The benchmark index also stood near its first record closing high in …
History shows strong 2023 could keep US stocks on path for 2024 gains Read More »
By Stephen Culp NEW YORK (Reuters) -U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead. The stock market has seen remarkable upward momentum in the closing months of the year, powering all three major indexes to …
Wall Street ends slightly lower, capping blockbuster year Read More »
(Reuters) -A U.S. judge ruled in favor of Israel’s Teva Pharmaceutical Industries in a patent infringement lawsuit brought by Corcept Therapeutics, sparking a frenzied sell-off in shares of the California-based drug developer. Corcept’s shares fell nearly 38% in trading after the bell. The lawsuit was tied to Korlym, Corcept’s drug to treat Cushing’s syndrome, which …
Corcept loses patent spat against Teva, shares tumble Read More »
By David Shepardson WASHINGTON (Reuters) -A group representing major passenger airlines on Friday urged U.S. transportation officials to do more to address the impact of private planes and air traffic controller staffing shortages on holiday flight delays and cancellations. Airlines for America, a group representing American Airlines, Delta Air Lines, United Airlines, Southwest Airlines and …
Airlines urge US to do more to address flight delays Read More »
By Jonathan Stempel (Reuters) – Hershey has been sued by a Florida woman who said its holiday-themed Reese’s peanut butter candies lack the artistic details shown on the packaging that make them worth buying. In a proposed federal class action filed on Thursday and seeking at least $5 million, Cynthia Kelly accused Hershey of deceiving …
Hershey is sued over lack of artistic detail on Reese’s candies Read More »
By Lewis Krauskopf NEW YORK (Reuters) -As a strong year in U.S. stocks comes to a close, fund managers face a potentially consequential choice in 2024: stick with the few massive growth and technology names that have powered equity indexes higher, or take a shot on the rest of the market. Shares of the so-called …
Can sizzling Magnificent Seven trade keep powering US stocks in 2024? Read More »
