Reuters US Business

By Manya Saini and Niket Nishant (Reuters) -Property and casualty insurance giant Travelers Companies trounced Wall Street estimates for second-quarter profit on Thursday, driven by stronger underwriting and higher investment returns. Shares of the company, whose earnings often serve as a bellwether for the sector as well as broader underwriting trends, rose 3% and it …

Insurance bellwether Travelers beats profit estimates on stronger underwriting Read More »

By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korea’s top court cleared Samsung Electronics Chairman Jay Y. Lee of accounting fraud and stock manipulation on Thursday, permanently removing a long-running legal risk for the head of the country’s biggest company. The Supreme Court upheld an appeals court’s ruling dismissing all charges in the case …

South Korea’s top court clears Samsung Chairman Lee in 2015 merger fraud case Read More »

NEW YORK (Reuters) -The U.S. Securities and Exchange Commission and Elon Musk have again agreed to give the billionaire more time to respond to the regulator’s civil lawsuit accusing him of waiting too long in 2022 to reveal his large stake in Twitter. In a filing in federal court in Washington, D.C., the SEC and …

US SEC, Musk seek more time for billionaire to respond to SEC’s lawsuit Read More »

TOKYO (Reuters) -Canada’s Alimentation Couche-Tard on Thursday pulled its $46 billion bid to buy Seven & i Holdings, saying the retailer refused to engage constructively on the deal, which would have been Japan’s largest ever foreign buyout. Couche-Tard, which operates Circle K, spent a year trying to create a global convenience store giant by acquiring …

Couche-Tard scraps $46 billion bid for Japan’s Seven & i Read More »

By Juveria Tabassum (Reuters) -PepsiCo reported better-than-expected quarterly results on Thursday, driven by steady demand for its sodas and snacks in the U.S. and other major markets, including Europe. The Gatorade owner sounded a more upbeat tone in its comments this quarter, after previously warning that heightened macro and consumer uncertainties could be a drag …

PepsiCo’s results exceed expectations on international growth, soda demand rebound Read More »

By Rajesh Kumar Singh and Shivansh Tiwary (Reuters) -GE Aerospace CEO Larry Culp said on Thursday that the company’s efforts to fix supply constraints are showing results and driving up jet engine deliveries, boosting its profit outlook for the year. Culp said the company is also making progress in mitigating tariff costs, and expects global …

GE Aerospace lifts profit outlook as engine deliveries soar Read More »

(Reuters) -Meta CEO Mark Zuckerberg has pledged hundreds of billions of dollars towards building massive data centers, days after ratcheting up the AI race with the launch of a division made up of engineers poached from rivals he hopes to challenge. Zuckerberg has intensified Silicon Valley’s talent war through aggressive hiring and startup deals, as …

Factbox-Zuckerberg’s Meta Superintelligence Labs poaches top AI talent in Silicon Valley Read More »

By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) -Uber will invest $300 million in electric vehicle maker Lucid in a robotaxi deal that aims to start with one major U.S. city late next year, the companies said on Thursday. Over six years starting in 2026, Uber will acquire and deploy over 20,000 Lucid Gravity …

Uber to invest $300 million in EV maker Lucid as part of robotaxi deal Read More »