Reuters US Business

Server maker Super Micro fans AI spending worries with cuts to revenue, profit estimates

30 Apr 2025

By Arsheeya Bajwa and Kritika Lamba (Reuters) -AI server maker Super Micro Computer on Tuesday cut its third-quarter revenue and profit expectations due to delays in customer spending, amplifying worries of a pullback in AI-linked investments and pushing its shares down 16%. The dour projections come after months of accounting issues had prompted a potential …

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Codelco chairman says April copper output up, sees strong US and China demand

30 Apr 2025

By Fabian Cambero and Daina Beth Solomon SANTIAGO (Reuters) -Copper output from Chile’s state-run Codelco rose 22% in April compared to the same period a year before, with an expected output of 105,000 metric tons, Chairman Maximo Pacheco said on Tuesday. The world’s largest copper producer slightly recovered last year from a quarter-century production low, …

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Mexican tequila maker Cuervo pockets more profit on weaker peso, despite volume dip

30 Apr 2025

MEXICO CITY (Reuters) – Becle, the world’s largest tequila producer, on Tuesday reported a first-quarter profit up 15% from a year earlier, pulling in more pesos due to the currency’s weakening despite moving less product in the period. Becle’s net profit hit 1.16 billion pesos ($56.69 million), in line with estimates from analysts polled by …

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Meta introduces Llama application programming interface to attract AI developers

30 Apr 2025

By Kenrick Cai SAN FRANCISCO (Reuters) -Meta Platforms on Tuesday announced an application programming interface in a bid to woo businesses to more easily build AI products using its Llama artificial-intelligence models. Llama API, which was unveiled during the company’s first-ever AI developer conference, will help Meta go up against APIs offered by rival model …

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Electronic Arts lays off hundreds, cancels ‘Titanfall’ game, Bloomberg News reports

30 Apr 2025

(Reuters) -Electronic Arts is laying off hundreds of workers and is canceling a Titanfall game that was in development at its Respawn Entertainment unit, Bloomberg News reported on Tuesday. About 300 to 400 positions were eliminated, including around 100 at Respawn, the report said, citing a person familiar with the matter. “As part of our …

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Canadian lender RBC abandons sustainable finance goals citing competition act

30 Apr 2025

By Nivedita Balu TORONTO (Reuters) -Royal Bank of Canada said on Tuesday that it would abandon its sustainable finance goals, citing recent changes to Canada’s competition act that require companies to prove their environmental claims. “We have reviewed our methodology and have concluded that it may not have appropriately measured certain of our sustainable finance …

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KKR and Capital Group launch funds targeting mix of private, public credit

30 Apr 2025

By Niket Nishant (Reuters) -KKR and Capital Group launched two funds that would target investments in a blend of public and private credit, tapping into a vast pool of retail investors looking beyond traditional assets for diversification. The funds, Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+, will allocate 60% of their assets …

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Mexican telecoms giant America Movil posts 39% jump in first-quarter profit

30 Apr 2025

MEXICO CITY (Reuters) – Mexican telecommunications giant America Movil on Tuesday reported a 39% jump in its first-quarter net profit compared to the same period in 2024, citing an increase in operating profit and a decrease in financing costs. The company, which operates across over 20 countries in Europe and Latin America, posted a net …

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UnitedHealth names insider Patrick Conway as Optum CEO

30 Apr 2025

(Reuters) -UnitedHealth Group said on Tuesday insider Patrick Conway will take on the top job at Optum, its health services segment, replacing Heather Cianfrocco, who will take on a new role within the healthcare conglomerate. Conway is currently the chief executive officer of Optum Rx, the company’s pharmacy benefit management unit. Conway joined Optum in …

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Brazil’s BRB close to completing due diligence to acquire Banco Master

30 Apr 2025

By Luciana Magalhaes RIO DE JANEIRO (Reuters) -Brazilian state-run bank BRB has nearly completed its due diligence to acquire local lender Banco Master, with the final deal price expected to be confirmed at around 2 billion reais ($360 million), BRB CEO Paulo Henrique Costa said on Tuesday. “We are still in the due diligence process, …

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