By David French NEW YORK (Reuters) -RBC Capital Markets has promoted two of its financial services investment bankers to run units advising insurance and specialty finance companies in the U.S., a spokesperson for the bank confirmed on Thursday. Neil Chawhan has been elevated to head of U.S. insurance investment banking, and Saurabh Monga will now …
RBC elevates US investment bankers Chawhan, Monga to unit heads Read More »
(Reuters) -Coinbase plans to launch perpetual futures trading in the United States, with the offering set to comply with regulatory standards outlined by the Commodity Futures Trading Commission, a top executive at the crypto exchange said on Thursday. With crypto markets buoyed by hopes of lighter regulation and a renewed risk appetite, exchanges are racing …
Coinbase to launch CFTC-compliant perpetual futures trading in US Read More »
(Reuters) -Tesla will expand its virtual power plant business in Japan by providing free storage batteries to companies and remotely managing them to help balance energy supply and demand, Nikkei reported on Friday. The electric vehicle maker will expand the business in collaboration with leasing firm Fuyo General Lease and energy company Global Engineering, the …
Tesla to take Japan virtual power plant business nationwide, Nikkei reports Read More »
By Abigail Summerville NEW YORK (Reuters) -Kenvue is exploring the sale of some of its skin health and beauty brands, four people familiar with the matter said on Thursday, as the consumer health firm prunes an underperforming business segment to focus on core products. The company, which was spun out of Johnson & Johnson in …
Kenvue mulls sale of some skin health and beauty brands, sources say Read More »
By Ernest Scheyder WASHINGTON (Reuters) -U.S. President Donald Trump’s tax and spending bill would make it harder for American critical minerals companies to compete with China because it eliminates a tax credit for boosting domestic production of nickel, rare earths and other materials used in advanced electronics and weaponry. With Trump and Republican lawmakers aiming …
Analysis-Trump’s tax-cut bill could hold back US critical minerals projects Read More »
(Reuters) -The U.S. Federal Trade Commission, reviewing a proposed merger by leading advertising companies Omnicom and Interpublic, may impose a condition that will prevent the combined company from boycotting ads on platforms because of political content, a source familiar with the matter said on Thursday. Omnicom struck a $13.25 billion all-stock deal in December last …
WASHINGTON (Reuters) -China’s Huawei Technologies is capable of producing no more than 200,000 advanced artificial intelligence chips in 2025, a top U.S. exports controls official told lawmakers on Thursday, warning that though the number is below the company’s demand, China is quickly catching up to U.S. capabilities. Since 2019, a slew of U.S. export rules …
US says China’s Huawei can’t make more than 200,000 AI chips in 2025 Read More »
By Max A. Cherney SAN FRANCISCO (Reuters) -Crusoe CEO Chase Lochmiller said on Thursday the artificial intelligence data center builder planned to purchase roughly $400 million worth of AI chips from Advanced Micro Devices to add to its portfolio of computing power. The cloud computing startup is aiming to build a data center – or …
Exclusive-‘Neocloud’ Crusoe to buy $400 million worth of AMD chips for AI data centers Read More »
(Reuters) -Telus said on Thursday it intends to acquire the shares in its listed digital services subsidiary it does not currently own, as the Canadian telecom firm seeks greater control of the unit’s artificial intelligence capabilities. The company has offered $3.40 per share to acquire the shares it does not own in Telus Digital, valuing …
Telus offers to fully own digital unit for greater control of AI capabilities Read More »
By Manya Saini, Niket Nishant and Hannah Lang (Reuters) -Chime Financial’s shares surged 59% in their hotly anticipated Nasdaq debut on Thursday, valuing the digital bank at $18.4 billion and extending a winning streak for new stock market listings. The San Francisco-based company’s stock opened at $43, compared with the IPO price of $27. It …
Chime valued at $18.4 billion as shares soar in Nasdaq debut Read More »
