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(Reuters) – Coinbase Global Inc reported a loss for the fourth quarter on Tuesday, as trading volumes at the cryptocurrency exchange came under pressure from an industry-wide downturn triggered by a string of high-profile bankruptcies. The market for digital assets has suffered from dour sentiment over the last year, as investors shunned risky assets amid …

Coinbase swings to quarterly loss as crypto winter hits trading volumes Read More »

(Reuters) – Consulting firm McKinsey & Co plans to cut about 2,000 jobs in one of its biggest round of layoffs, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. McKinsey did not immediately respond to a Reuters request for comment. (Reporting by Anirban Chakroborti in Bengaluru; Editing by Shinjini Ganguli)

By David French (Reuters) – The S&P 500 and Nasdaq ended down for the third straight session as Wall Street slumped on Tuesday, with investors interpreting a rebound in U.S. business activity in February to mean interest rates will need to stay higher for longer to control inflation. The S&P Global Purchasing Manufacturer’s index, which …

S&P, Nasdaq extend losing streak, as Wall St frets on rate path Read More »

By Mike Scarcella (Reuters) – A U.S. judge on Tuesday appointed two prominent U.S. law firms as co-leaders of consumer claims against Meta Platforms Inc’s Facebook, saying he hoped they would put aside their dispute over control of the antitrust case and work together. In a court order, U.S. District Judge James Donato in San …

Feuding law firms in Facebook antitrust case told to make peace Read More »

By Milana Vinn NEW YORK (Reuters) – AT&T Inc, the second-biggest U.S. wireless carrier, is exploring a sale of its cybersecurity division, potentially undoing an acquisition it completed five years ago, according to people familiar with the matter. The sale of the cybersecurity business would add to a string of divestments AT&T has turned to …

AT&T seeks to shed cybersecurity division -sources Read More »

By Greg Bensinger SAN FRANCISCO (Reuters) – Until recently, Brett Schickler never imagined he could be a published author, though he had dreamed about it. But after learning about the ChatGPT artificial intelligence program, Schickler figured an opportunity had landed in his lap. “The idea of writing a book finally seemed possible,” said Schickler, a …

ChatGPT launches boom in AI-written e-books on Amazon Read More »

By Blake Brittain (Reuters) -The Biden Administration has decided not to overrule a U.S. International Trade Commission decision that could block imports of Apple Inc’s Apple Watches for infringing AliveCor Inc patents related to heart monitoring, AliveCor said Tuesday. An AliveCor spokesperson said the office of the U.S. Trade Representative told the company it would …

Biden admin won’t veto ITC’s Apple Watch import ban ruling Read More »

By Andrew Chung and John Kruzel WASHINGTON (Reuters) -U.S. Supreme Court justices on Tuesday expressed uncertainty over whether to narrow a legal shield protecting internet companies from a wide array of lawsuits in a major case involving YouTube and the family of an American student fatally shot in a 2015 rampage by Islamist militants in …

U.S. Supreme Court torn over challenge to internet firms’ legal shield Read More »

By Siddharth Cavale (Reuters) – Walmart Inc struck a cautious note in its economic outlook for 2023 on Tuesday as the retail bellwether forecast full-year earnings below estimates and warned that tight spending by consumers could pressure profit margins. Higher U.S. consumer prices and loftier costs for rental housing and food have raised fears among …

Walmart sees lower 2023 performance in time of economic uncertainty Read More »

By Stephen Culp NEW YORK (Reuters) – Rio Tinto on Tuesday said it would supply BMW with aluminum it produces in Canada using hydroelectric power, lowering the auto manufacturer’s carbon footprint with respect to its procurement of the automotive metal. The UK-based mining company and the German automaker announced in separate statements that they had …

Rio Tinto enters agreement with BMW to provide hydro-produced aluminum Read More »