Reuters US Business

MILAN (Reuters) – Carmaker Stellantis said on Thursday it had agreed to buy aiMotive, a Hungary-based developer of advanced artificial intelligence and autonomous driving software, to advance its technology development efforts. No financial details of the transaction were disclosed. The acquisition enhances Stellantis’ artificial intelligence and autonomous driving core technology, expands its global talent pool, …

Stellantis to buy software developer aiMotive in autonomous driving push Read More »

AMSTERDAM (Reuters) – Meals delivery company Just Eat Takeaway on Thursday announced a European partnership with online grocer Getir. Under the partnership, Takeaway said, Getir’s groceries will be listed on Takeaway’s platform and can be ordered via its smartphone app but will be delivered by Getir couriers. Amsterdam-based Takeaway is Europe’s largest meals ordering and …

Meals company Takeaway, grocery delivery firm Getir in European partnership Read More »

ZURICH (Reuters) -German engineering and technology group Siemens posted a better-than-expected fourth-quarter profit for its industrial business on Thursday and said its factory hardware and software continued to witness strong demand. The company said in a statement it has seen growth in many markets despite a “continuing complex macroeconomic environment influenced by energy shortages and …

Siemens Q4 profit beats view; sees persistent demand for hardware, software Read More »

(Reuters) -Chip designer Nvidia Corp beat expectations for third-quarter revenue on Wednesday, thanks to sustained demand in its data center business on the back of rising cloud adoption. Shares of the company rose 3% in extended trading. They have declined roughly 43% so far this year, underperforming the Philadelphia SE Semiconductor index amid an industry …

Nvidia beats third-quarter revenue expectations Read More »

SAN FRANCISCO (Reuters) -James Murdoch, a Tesla board director, said on Wednesday that Elon Musk has in the last few months identified someone as a potential successor in the role of chief executive of the electric carmaker. Murdoch, who did not name the potential successor, was testifying in a trial over Musk’s 2018 Tesla pay …

Tesla board member says Elon Musk identified potential successor as Tesla CEO Read More »

(Reuters) – Top U.S. solar panel manufacturer First Solar Inc on Wednesday said it has chosen Alabama as the home of its fourth domestic factory, giving the state a $1.1 billion investment that will create hundreds of jobs. The announcement had been anticipated since August, when First Solar said it would expand its manufacturing operations …

First Solar picks Alabama for new solar factory Read More »

By Lewis Krauskopf, Amruta Khandekar and Ankika Biswas (Reuters) – Wall Street’s main indexes ended lower on Wednesday as a grim outlook from Target spurred fresh concerns about retailers heading into the crucial holiday season, while semiconductor shares slid after Micron’s supply cut. Shares of Target Corp tumbled 13.1% after the big-box retailer forecast a …

Wall Street ends down after Target outlook, Micron supply cut Read More »

(Reuters) -Cisco Systems Inc beat first-quarter revenue estimates on Wednesday, as easing supply chain constraints and a COVID-19 recovery in China helped meet demand for its broad networking products portfolio, sending the company’s shares 5% higher in extended trading. Easing supply chain snags and Cisco’s recent investments in cloud offerings and targeted price hikes have …

Cisco beats quarterly revenue estimates as supply chain constraints ease Read More »

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -U.S. Federal Reserve Governor Christopher Waller, an early and outspoken “hawk” in the central bank’s efforts to confront inflation, said Wednesday he is now “more comfortable” with smaller rate increases going forward, though how high rates ultimately need to go depends on how decisively inflation slows. In …

Fed’s Waller says ‘more comfortable’ with smaller hikes after recent data Read More »

By Sam Tobin LONDON (Reuters) – The former chief executive of an Austrian bank who faces charges in the United States in relation to a bribery and money laundering conspiracy involving Brazilian construction company Odebrecht asked a London court on Wednesday to refuse to extradite him. Peter Weinzierl – former chief executive of Meinl Bank, …

Austrian banker fights extradition to U.S. on money laundering charges Read More »