By Savyata Mishra (Reuters) -Lululemon Athletica’s shares fell as much as 21% on Friday, as the maker of high-end leggings warned that tariff-related costs and uneven demand in key markets of North America and China will dent its profits this year. The Canadian firm, whose popular Align yoga pants sell for up to $128 apiece …
Lululemon shares tumble as yogawear firm warns tariffs will crimp profit Read More »
(Reuters) -The U.S. Federal Reserve should cut interest rates by a full percentage point, President Donald Trump said on Friday as he reiterated his view that Fed Chair Jerome Powell has been too slow to lower borrowing costs. “Europe has had 10 rate cuts, we have had none. Despite (Powell), our Country is doing great. …
Fed should cut interest rate by a full point, Trump says Read More »
By Laurie Chen and David Shepardson BEIJING/WASHINGTON (Reuters) -China has granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, two sources familiar with the matter said, as supply chain disruptions begin to surface from Beijing’s export curbs on those materials. At least some of the licenses are valid for six months, …
By Alexander Cornwell ABU DHABI (Reuters) -A multi-billion dollar deal to build one of the world’s largest data centre hubs in the United Arab Emirates with U.S. technology is far from being concluded due to persistent concerns around security, sources familiar with the matter told Reuters. The U.S. and the wealthy Gulf state unveiled the …
US-UAE multi-billion dollar AI data campus deal far from finalised, sources say Read More »
By Pete Schroeder WASHINGTON (Reuters) -The Federal Reserve’s new top regulatory official on Friday laid out an ambitious agenda for revisiting and easing numerous bank rules and oversight policies which she argued have become onerous and unnecessary. Michelle Bowman, who was confirmed to be the Fed’s Vice Chair for Supervision on Wednesday, said the Fed …
Fed’s Bowman lays out ambitious agenda to overhaul and ease bank oversight Read More »
(Reuters) – OpenAI is appealing an order in a copyright case brought by the New York Times that requires it to preserve ChatGPT output data indefinitely, arguing that the order conflicts with privacy commitments it has made with users. Last month, a court said OpenAI had to preserve and segregate all output log data after …
OpenAI appeals data preservation order in NYT copyright case Read More »
(Reuters) – Broadcom shares fell more than 3% in early trading on Friday, after the company’s third-quarter revenue forecast failed to impress investors who have been extremely bullish on chip stocks amid an artificial intelligence boom. The Palo Alto, California-based company, which supplies semiconductors to Apple and Samsung, provides advanced networking gear that allows vast …
Broadcom shares drop as revenue forecast fails to impress Read More »
(Reuters) -U.S. money market funds witnessed huge inflows in the week ended June 4 as investor caution over a rise in U.S. tariffs on steel imports, uncertainties over President Donald Trump’s trade disputes with China and a crucial employment report on Friday, boosted demand for safer investment avenues. According to LSEG Lipper data, U.S. investors …
U.S. money market fund inflows surge on caution over tariffs Read More »
(Reuters) -Billionaire Elon Musk’s xAI expects to generate more than $13 billion in annual earnings by 2029, according to numbers revealed by the artificial intelligence startup’s banker Morgan Stanley, Bloomberg News reported. Morgan Stanley, which is seeking investors for a $5 billion debt sale of xAI, opened the AI startup’s books to those willing to …
Musk’s xAI expects annual earnings over $13 billion by 2029, Bloomberg reports Read More »
(Reuters) -U.S. equity funds saw outflows for a third straight week through June 4, as concerns lingered over uncertainty surrounding U.S. trade policies, while investors remained cautious ahead of a key jobs report due Friday. At the same time, European equity funds witnessed firm demand for an eighth successive week, influenced by a weaker inflation …
