By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks ended slightly lower on Friday as investors weighed economic worries against optimism over interest rate cuts by the Federal Reserve after data showed U.S. job growth weakened sharply in August. Bank shares were among those taking the biggest hit, with the S&P 500 bank index ending 2.4% …
Wall Street indexes end lower as jobs data fuels economic worries Read More »
(Reuters) -Robinhood Markets will replace casino operator Caesars Entertainment in the benchmark S&P 500, marking a pivotal moment for the financial technology sector as the retail trading platform joins the ranks of the most influential U.S. companies. The inclusion, announced by S&P Dow Jones Indices on Friday, is expected to boost demand for Robinhood’s stock …
Robinhood to join S&P 500 in watershed moment for US fintech sector Read More »
By Mike Scarcella (Reuters) -Technology giant Apple was accused by authors in a lawsuit on Friday of illegally using their copyrighted books to help train its artificial intelligence systems, part of an expanding legal fight over protections for intellectual property in the AI era. The proposed class action, filed in the federal court in Northern …
Apple sued by authors over use of books in AI training Read More »
By Marianna Parraga HOUSTON (Reuters) -Blue Water Acquisition Corp said on Friday that it submitted an offer valued at $10 billion for the parent of Venezuela-owned refiner Citgo Petroleum, which includes a $3.2 billion settlement proposal to holders of a defaulted Venezuelan bond. A U.S. court-organized bidding round for PDV Holding to pay up to …
Blue Water submits $10 billion bid for Citgo parent Read More »
(Reuters) -Nvidia said on Friday the AI GAIN Act would restrict global competition for advanced chips, with similar effects on the U.S. leadership and economy as the AI Diffusion Rule, which put limits on the computing power countries could have. Short for Guaranteeing Access and Innovation for National Artificial Intelligence Act, the GAIN AI Act …
Nvidia says GAIN AI Act would restrict competition, likens it to AI Diffusion Rule Read More »
By Blake Brittain and Mike Scarcella (Reuters) -Anthropic told a San Francisco federal judge on Friday that it has agreed to pay $1.5 billion to settle a class-action lawsuit from a group of authors who accused the artificial intelligence company of using their books to train its AI chatbot Claude without permission. The plaintiffs in …
Anthropic agrees to pay $1.5 billion to settle author class action Read More »
By Ana Mano SAO PAULO (Reuters) -Large food retailers in Europe have urged global grain traders to defend Brazil’s soy moratorium initiative, a pact designed to protect the Amazon rainforest from soy-driven deforestation amid farmer efforts to suspend the program. In a letter dated Sept. 5 seen by Reuters, food grocers -including Tesco, Sainsbury’s, Lidl …
Food grocers urge grain traders to uphold Brazil’s soy moratorium initiative Read More »
By Zaheer Kachwala (Reuters) -Roblox announced a new short-form video content application and an earnings increase for creators at its developers conference on Friday, looking to ride the wave of strong engagement and lure new users to the videogame platform. The TikTok-style app, called “Roblox Moments,” is currently available in beta and will enable users …
Roblox announces short-form video app, hikes developer earnings Read More »
By Lucia Mutikani WASHINGTON (Reuters) -U.S. job growth weakened sharply in August and the unemployment rate increased to nearly a four-year high of 4.3%, confirming that labor market conditions were softening and sealing the case for a Federal Reserve interest rate cut later this month. The Labor Department’s closely watched employment report on Friday also …
US unemployment rate near 4-year high as labor market hits stall speed Read More »
By Georgina McCartney and Arathy Somasekhar HOUSTON (Reuters) -ConocoPhillips CEO Ryan Lance told employees on Thursday that one of the reasons he had to cut up to 25% of the workforce was because the U.S. oil and gas producer had become less competitive as it focused on swallowing smaller rivals. Lance was speaking to employees in a …
