Reuters US Business

By Arsheeya Bajwa (Reuters) -IBM beat Wall Street estimates for second-quarter revenue and profit on Wednesday, but lower-than-expected sales in its mainstay software segment overshadowed a renewal in demand for the mainframe business spurred by AI upgrades. IBM’s shares fell 5% in extended trading, after a nearly 30% rise this year driven by investors betting …

IBM’s software sales disappoint, eclipsing AI mainframe revival Read More »

By Juby Babu (Reuters) -T-Mobile raised its annual forecast for postpaid net customer additions on Wednesday and added more wireless subscribers than expected in the second quarter, signaling steady demand for the telecom giant’s top-tier mobile services. Its shares shot up 5% in extended trading. The carrier now expects to add between 6.1 million and …

T-Mobile boosts subscriber forecast on demand for premium wireless plans Read More »

By Kenrick Cai and Deborah Mary Sophia (Reuters) -Alphabet on Wednesday cited massive demand for its cloud computing services as it hiked its capital spending plans for the year to about $85 billion and predicted a further increase next year. The search giant strongly beat Wall Street estimates for quarterly revenue and profit on the …

Google parent Alphabet surprises with capital spending boost after earnings beat Read More »

By Nicole Jao, David French and Shariq Khan NEW YORK (Reuters) -California government officials are trying to find a buyer for Valero Energy’s Benicia refinery near San Francisco, three sources familiar with the matter said, an unusual effort as the clock ticks down on the company’s planned closure of the facility in April. The rare …

Exclusive-In rare move, California steps in to find buyer for Valero refinery to avoid closure, sources say Read More »

By Anirban Sen NEW YORK (Reuters) -Tokenization has long been a buzzword for crypto enthusiasts, who have been arguing for years that blockchain-based assets will change the underlying infrastructure of financial markets. The technology is seen as rapidly increasing in coming years, especially in the U.S., helped by the passage of three new bills. President …

Explainer-What is tokenization and is it crypto’s next big thing? Read More »

(Refiles to remove extraneous text) (Reuters) -One of the Federal Reserve’s five female regional bank presidents could replace U.S. central bank chief Jerome Powell, Treasury Secretary Scott Bessent said on Tuesday – an intriguing comment given that none of the 12 Fed regional bank presidents have signaled they are on board with the immediate cut …

The five female Fed presidents who may have been on Bessent’s mind Read More »

By Milana Vinn NEW YORK (Reuters) -Sony Group is exploring a sale of its unit that provides cellular chipsets for connected devices, as the group shifts its focus to the entertainment segment, according to three people familiar with the matter.      The Japanese technology and entertainment conglomerate is working with investment bankers on the sale of …

Sony explores sale of cellular chipsets business, sources say Read More »

By Nicole Jao NEW YORK (Reuters) -Oil prices were little changed on Wednesday as investors assessed trade developments between the European Union and the U.S. after President Donald Trump reached a tariff deal with Japan. Brent crude futures settled 8 cents, or 0.12%, lower at $68.51 a barrel, while U.S. West Texas Intermediate crude futures were …

Oil prices steady with trade talks in focus Read More »