WASHINGTON (Reuters) – The chair of the National Transportation Safety Board told new Boeing Co CEO Kelly Ortberg that the planemaker “has a safety culture problem” that must be addressed. NTSB Chair Jennifer Homendy told reporters on the sidelines of an event in Washington that she told Boeing’s new chief executive in a recent conversation …
NTSB chair tells Boeing CEO that planemaker has safety culture problem Read More »
By Rajesh Kumar Singh (Reuters) -A standoff between Air Canada and its pilots over a new labor contract escalated on Thursday, as the airline took the unusual step of saying Ottawa should be ready to intervene to head off a strike. The pilots’ union warned the federal government against such a step, saying it would …
Air Canada seeks government action as standoff with pilots escalates Read More »
By Jonathan Stempel (Reuters) -Ajit Jain, the longtime top insurance executive at Warren Buffett’s Berkshire Hathaway, sold more than half of his Class A shares in the conglomerate this week. According to a Wednesday night regulatory filing, the 73-year-old Jain sold 200 Berkshire Class A shares on Sept. 9 for about $139.1 million, at an …
Buffett’s insurance leader Ajit Jain sells large part of Berkshire stake Read More »
NEW YORK (Reuters) – Goldman Sachs has hired Melissa Goldman as a partner and global head of technology engineering for its global banking and markets division, according to a memo seen by Reuters on Thursday. Having worked for the firm previously, she is the fourth Goldman Sachs alumni to return as a partner this year. …
Goldman Sachs hires Melissa Goldman as partner for technology role, memo says Read More »
By Jonathan Stempel (Reuters) – Bank of Montreal persuaded a U.S. appeals court on Thursday to throw out a $564 million jury verdict against a subsidiary over its role in an approximately $3.65 billion Ponzi scheme run by convicted Minnesota businessman Tom Petters. Citing a similar case involving Bernard Madoff, the 8th U.S. Circuit Court …
US appeals court voids $564 million verdict against Bank of Montreal in Ponzi case Read More »
(Reuters) – Photoshop maker Adobe forecast fourth-quarter earnings below analysts’ estimates on Thursday, signaling stiff competition and soft demand for its AI-integrated editing tools amid challenging economic conditions. Shares of the company fell 9.2% in extended trading. High interest rates and a tough economy have led enterprises and individuals to focus on cutting costs, putting …
Adobe forecasts downbeat quarterly earnings on cautious tech spending Read More »
By Sinéad Carew and Shashwat Chauhan (Reuters) -Wall Street’s main indexes closed higher on Thursday after the latest inflation data reinforced expectations for a 25-basis point rate cut by the Federal Reserve, while Moderna’s weak revenue forecast made it the S&P 500’s biggest percentage loser. The producer price index (PPI) for final demand rose 0.2% …
Wall Street indexes close up; data keeps smaller Fed rate cut in view Read More »
WASHINGTON (Reuters) – The U.S. Treasury on Thursday announced new proposed rules for a new corporate alternative minimum tax that is expected to generate $250 billion in U.S. revenues over 10 years from about 100 large companies now paying an average rate of just 2.6%. The Treasury said in a statement that the tax would …
US Treasury sets rules for 15% minimum tax on biggest, most profitable companies Read More »
By Katie Paul and Anna Tong (Reuters) -Microsoft-backed OpenAI said on Thursday it was launching its “Strawberry” series of AI models designed to spend more time processing answers to queries in order to solve hard problems. The models, first reported by Reuters, are capable of reasoning through complex tasks and can solve more challenging problems …
OpenAI launches new series of AI models with ‘reasoning’ abilities Read More »
FRANKFURT (Reuters) – Shares in Roche fell on Thursday after an early-stage obesity pill candidate that carries high market hopes was linked to a high rate of temporary side effects in its initial test phase on humans. Roche shares were down 4% at the open at 0700 GMT after the company presented late on Wednesday …
Roche shares drop on side effects result in early-stage obesity pill trial Read More »
