Reuters US Business

By Prakhar Srivastava (Reuters) -AI chip startup Cerebras Systems, which competes with industry leader Nvidia in the booming AI chip market, on Friday filed to withdraw its plans for an initial public offering in the United States, effective immediately. Its withdrawal comes as U.S. IPO activity picks up in recent months, reversing an earlier slowdown …

AI chip firm Cerebras files to withdraw highly anticipated US listing Read More »

By Ross Kerber (Reuters) -Minnesota power regulators on Friday approved a $6.2 billion plan for a BlackRock unit and Canada Pension Plan to buy utility owner Allete, parent of Minnesota Power, saying recent modifications by the parties should address concerns about rates and clean-power investments. The 5-0 vote by the Minnesota Public Utilities Commission may …

BlackRock’s infrastructure play gets a boost as Minnesota approves buyout Read More »

By Mike Stone WASHINGTON (Reuters) -The much-needed modernization of the U.S. Army’s battlefield communications network being undertaken by Anduril, Palantir and others is rife with “fundamental security” problems and vulnerabilities, and should be treated as a “very high risk,” according to a recent internal Army memo. The two Silicon Valley companies, led by allies of …

Anduril and Palantir battlefield communication system ‘very high risk,’ US Army memo says Read More »

(Reuters) -Drugmaker AbbVie said on Friday it has lowered its annual profit forecast, after flagging an expected $2.7 billion charge related to in-process research and development (IPR&D) expenses in the third quarter. The Chicago-based company said in a regulatory filing that such expenses may arise from collaborations, licensing deals or asset buys, but are not …

AbbVie trims annual profit forecast after expected $2.7 billion R&D hit Read More »

By Greg Bensinger SAN FRANCISCO (Reuters) -Just days after putting on its annual devices and services showcase, Amazon is losing a vice president who helps oversee the division. Rob Williams, vice president of device software and services and a member of the elite internal group known as the S-team advising CEO Andy Jassy, left his …

Exclusive-Amazon loses devices VP and member of elite CEO advisory just days after launches Read More »

(Reuters) -A group of Tesla shareholders including SOC Investment Group and several state officials urged investors to vote against Elon Musk’s $1 trillion pay package at the company’s November meeting, a regulatory filing showed on Thursday. In the letter to Tesla shareholders, the coalition – which also includes state treasurers of Nevada, New Mexico and …

Elon Musk’s $1 trillion pay plan faces pushback from investors, state officials Read More »

(Reuters) -A UnitedHealth shareholder proposed on Friday that the healthcare group should adopt a policy to require an independent board chair, a role now held by CEO Stephen Hemsley. The Accountability Board, a nonprofit advocacy group and UnitedHealth’s shareholder, said the current structure would decrease the board’s “checks and balances by consolidating power.” Hemsley took …

UnitedHealth shareholder proposes independent board chair Read More »