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(Reuters) -Costco Wholesale topped Wall Street’s estimates for quarterly revenue and profit on Tuesday as consumers flocked to its stores for cheaper groceries and other necessities, helping offset feeble demand for discretionary items. Shares of the membership-only retailer dropped more than 2% in extended trading. Costco has managed to drive robust sales growth owing to …

Costco beats quarterly revenue, profit estimates on steady grocery demand Read More »

By Krystal Hu and Niket Nishant (Reuters) -OpenAI, the artificial intelligence startup behind ChatGPT, is talking to investors about a possible sale of existing shares at a much higher valuation from a few months ago, according to two sources familiar with the matter. The proposed deal could value Microsoft-backed OpenAI at between $80 billion to …

OpenAI, at boosted valuation, in talks to sell existing shares to investors -sources Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. Federal Communications Commission chair Jessica Rosenworcel on Tuesday said she would move quickly to reinstate landmark net neutrality rules rescinded under former President Donald Trump. Rosenworcel is asking her colleagues to take an initial vote on Oct. 19 on the proposal to largely reinstate open internet rules adopted in …

US FCC chair proposes to restore net neutrality rules Read More »

By Andy Home LONDON (Reuters) -Global production of primary aluminium hit an all-time high in August, with the world’s smelters running at an annualised rate of 71.2 million metric tons. It was the second consecutive month that run-rates were above the 70-million metric ton mark. Prior to July the level had been exceeded only once, …

China powers global aluminium output to record high: Andy Home Read More »

(Reuters) -Pilots at Network Aviation, a subsidiary of Qantas Airways, voted in favour of taking protected industrial actions that might potentially include bans on flying, the Australian Federation of Air Pilots (AFAP) said on Tuesday. Three pilot groups, including pilots from aircraft charter company Network Aviation, have been negotiating with Qantas management over wage policy …

Qantas charter unit’s pilots vote in favour of protected industrial action Read More »

By Gavin Jones and Valentina Za ROME (Reuters) -Italy is under growing market scrutiny as Prime Minister Giorgia Meloni prepares a difficult 2024 budget, with investors dismayed by government moves affecting sectors from banks to airlines. The Treasury will issue new economic targets on Wednesday providing the framework for a budget in which Meloni will …

Italy in markets’ crosshairs as Meloni readies difficult budget Read More »

(This Sept. 24 story has been corrected to show that Lego has abandoned one specific oil-free brick development project, not all such efforts, in the headline and paragraph 1) (Reuters) – Danish Toymaker Lego has abandoned its most high-profile effort to ditch oil-based plastics from its bricks after finding that its new material led to …

Lego abandons one of its projects to make oil-free bricks -FT Read More »

(Reuters) – American Airlines on Monday appealed a U.S. court decision requiring it to end an alliance with JetBlue Airways. U.S. District Judge Leo Sorokin ruled in May the airlines’ “Northeast Alliance” that allowed the two carriers to coordinate flights and pool revenue violated antitrust law. JetBlue previously said it would not appeal as it …

American Airlines appeals court ruling halting JetBlue alliance Read More »

By Andrea Shalal WASHINGTON (Reuters) – Elizabeth Warren, Bernie Sanders and four other U.S. senators are pressuring the U.S. Treasury Department to step up oversight and offer more guidance to financial institutions on addressing climate change risks threatening the U.S. financial system. In a letter sent to the Treasury last week, Democratic senators Warren, Martin …

US senators pressure Treasury to get more aggressive on climate crisis risks Read More »

By David Shepardson WASHINGTON (Reuters) – The National Transportation Safety Board said it has opened an investigation into a JetBlue flight that experienced sudden severe turbulence and led to eight apparent injuries. The incident occurred on Monday on JetBlue Flight 1256, an Airbus A320, near Jamaica while en route from Guayaquil, Ecuador to Fort Lauderdale, …

NTSB probes JetBlue flight that experienced severe turbulence, injuring eight Read More »