Reuters US Business

By Akash Sriram and Abhirup Roy (Reuters) -Tesla is expected to post a surge in third-quarter results later on Wednesday, thanks to U.S. buyers rushing to take advantage of an expiring $7,500 federal electric vehicle tax credit. But investors and analysts may be more focused on Chief Executive Elon Musk’s outlook, including whether new, cheaper …

Tesla set for strong quarter fueled by rush to get expiring US EV tax credits Read More »

By Arsheeya Bajwa (Reuters) -Intel’s third-quarter results on Thursday will show whether a clutch of recent high-profile investments can shore up its strained finances as new CEO Lip-Bu Tan attempts to revive the ailing chipmaker. Multi billion-dollar investments from Nvidia and Japan’s SoftBank as well as an unprecedented U.S. government stake during the September quarter …

Intel results to show if barrage of investments in chipmaker paying off Read More »

By Johann M Cherian, Shashwat Chauhan and Juveria Tabassum (Reuters) -Beyond Meat’s highly shorted shares jumped more than 60% on Wednesday, fueled by a fresh wave of buying among retail traders who have sparked meme stock frenzies on Wall Street in recent years. The company has struggled with weak sales as demand dropped for its …

Beyond Meat shares soar as retail traders spark ‘meme stock’ euphoria Read More »

By Georgina McCartney HOUSTON (Reuters) -Dealmaking in the U.S. upstream oil and gas sector slumped nearly 30% during the third quarter as persistently low oil prices kept buyers on the sidelines, analytics firm Enverus said on Wednesday.  Merger and acquisition activity has now fallen for three straight quarters, according to Enverus, marking a sharp departure …

US upstream oil and gas dealmaking slumps for third straight quarter amid low prices Read More »

(Reuters) -Meta is cutting around 600 positions out of the several thousand roles in its Superintelligence Labs, the Facebook owner said on Wednesday as it looks to make its artificial intelligence unit more flexible and responsive. The job cuts will affect Facebook Artificial Intelligence Research (FAIR) unit, as well as teams focused on product-related AI …

Meta to cut around 600 roles in Superintelligence Labs AI unit Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) -Activist investor Jana Partners has teamed up with football star Travis Kelce to push Six Flags Entertainment to improve its marketing and customer experiences, the investor said, after disclosing a 9% stake in the company. Jana Partners’ Scott Ostfeld announced the position at the 13D Monitor Active Passive-Investment Summit …

Activist investor Jana teams up with NFL’s Travis Kelce to pressure Six Flags Read More »

By Fabio Teixeira and Marta Nogueira RIO DE JANEIRO (Reuters) -Brazil’s state-run oil firm Petrobras and Norway’s Equinor were the big winners in a Wednesday auction for areas in Brazil’s offshore pre-salt region, acquiring one oil block each and partnering to develop a third. Australia’s Karoon Energy also acquired one block, and China’s CNOOC and …

Petrobras and Equinor big winners in Brazil’s pre-salt auction Read More »