Reuters US Business

By Sinéad Carew and Ankika Biswas (Reuters) – Wall Street’s major averages closed sharply lower on Thursday with the technology-heavy Nasdaq leading declines amid investor worries that data showing a resilient economy would lead the U.S. Federal Reserve to keep hiking interest rates for longer than feared. Micron Technology Inc’s glum forecast added to the …

Wall Street tumbles on rate, recession worries, bleak chipmaker outlook Read More »

(Reuters) – Target Corp said on Thursday it has recalled about 204,000 Pillowfort weighted blankets for children after receiving reports of two fatalities. The U.S. Consumer Product Safety Commission (CPSC) said a 4-year-old girl and a 6-year-old girl reportedly became entrapped in the cover of the weighted blanket and died due to asphyxia in April …

Target recalls children’s weighted blankets after two deaths Read More »

By Echo Wang and David Shepardson NEW YORK/WASHINGTON (Reuters) – Popular short-video app TikTok is offering to operate more of its business at arm’s length and subject it to outside scrutiny as it tries to convince the U.S. government to allow it to remain under the ownership of Chinese technology company ByteDance, according to people …

Exclusive-TikTok steps up efforts to clinch U.S. security deal Read More »

By Christian Kraemer and Matthias Williams BERLIN (Reuters) -A senior German official said on Thursday Twitter should join other tech firms in being directly monitored by the European Commission, saying the company’s erratic behaviour under new owner Elon Musk posed a threat to free speech. Sven Giegold, the state secretary in charge of competition policy …

EU should put Twitter under direct supervision after missteps: German official Read More »

(Reuters) – Bombardier Inc Chief Executive Eric Martel voiced concerns over Canada’s potential plan to buy reconnaissance jets directly from Boeing Co instead of tapping its home-grown aerospace industry through a bidding process. “As President and CEO of Bombardier, I want to publicly share my concern that Canada, which is facing an important choice about …

Bombardier CEO voices concerns over awarding Canada’s defense contract to Boeing Read More »

(Reuters) – Self-driving trucking company TuSimple Holdings Inc said on Wednesday it would lay off 25% of its workforce, or nearly 350 employees. (Reporting by Niket Nishant in Bengaluru; Editing by Anil D’Silva)

By Sinéad Carew and Ankika Biswas (Reuters) – Wall Street’s main stock indexes closed higher on Wednesday with help from upbeat Nike and FedEx quarterly earnings, as well as improving consumer confidence and easing inflation expectations from investors. Nike Inc shares rallied sharply after beating profit expectations for its second quarter on strong holiday demand …

Wall Street advances with help from Nike, FedEx and consumer sentiment Read More »

(Reuters) -Chipmaker Micron Technology Inc on Wednesday forecast second-quarter revenue above Wall Street estimates, as it benefits from strong demand for memory chips used in data centers and cloud computing. Growing orders from the electric-vehicle industry have helped memory chipmakers offset the impact from slowing demand from makers of PCs and other devices. Micron is …

Micron forecasts quarterly revenue above expectations Read More »

By Sheila Dang (Reuters) -Elon Musk said Twitter Inc is now on track to be “roughly cash flow break-even” next year, as the billionaire owner defended his deep cost-cutting measures at the social media platform. Twitter was previously tracking toward a “negative cash flow situation of $3 billion per year” before the cost cuts, Musk …

Elon Musk expects Twitter to be ‘cash flow break-even’ next year Read More »