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Intel is cutting more jobs as CEO Tan tries to fix manufacturing missteps
Intel's workforce to shrink by 22% by year endCEO Tan focuses on disciplined investments, factory construction slowdownIntel forecasts steeper Q3 losses despite higher sales expectations Intel's strategic missteps led to lag in AI chip industryBy Arsheeya Bajwa, Stephen Nellis and Max A. C...
Fri, Jul 25
Intel Corp reports results for the quarter ended June 30 - Earnings Summary
Intel Corp INTC.OQ reported a quarterly adjusted loss of 10 cents per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 2 cents. The mean expectation of thirty five analysts for the quarter was for earnings of one cent per share. Wall Str
Thu, Jul 24
GRAINS-CBOT corn, soybean futures climb on technical trading, trade deal hopes
Corn futures rise on short-covering, consolidationWheat exports high, but global supply limit gainsSoybean futures rise despite sluggish US export salesBy P.J. Huffstutter CHICAGO, July 24 (Reuters) - Chicago Board of Trade corn futures ticked up on Thursday on signs of short-covering and consoli...
Thu, Jul 24
Crude finishes with 1% gain on supply concerns and US crude draws
HOUSTON, July 24 (Reuters) - Oil prices rose 1% on Thursday as U.S. crude draws and expected cuts to Russian gasoline exports overwhelmed news that oil major Chevron CVX.N will gain U.S. approval to renew production in Venezuela.
Thu, Jul 24
Charles Schwab authorizes $20 billion stock buyback, declares dividends
July 24 (Reuters) - Charles Schwab SCHW.N said on Thursday that its board had authorized a new $20 billion stock repurchase program, replacing the previous authorization. The company also declared a regular quarterly cash dividend of 27 cents per share on its common stock.
Thu, Jul 24
S&P 500 and Nasdaq notch record closes, lifted by Alphabet
Trump to visit Federal Reserve headquartersUnitedHealth says it is cooperating with DOJ probeS&P 500 +0.07%, Nasdaq +0.18%, Dow -0.70%By Noel Randewich and Pranav Kashyap July 24 (Reuters) - The S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google pa...
Thu, Jul 24
Sees no mechanical issue with 787 Boeing fuel control unit after Air India crash
OSHKOSH, Wisconsin, July 24 (Reuters) - The head of the Federal Aviation Administration said on Thursday the fatal crash of an Air India Boeing BA.N 787 does not appear to be caused by a mechanical issue or inadvertent movement of the fuel control unit."We can say with a high level of confidence...
Thu, Jul 24
Safe-haven gold slips as trade optimism lifts risk appetite
EU, US near deal with possible 15% tariff, EU diplomats sayTrump to visit Federal Reserve US weekly jobless claims unexpectedly fallsBy Sherin Elizabeth Varghese July 24 (Reuters) - Gold prices fell for a second straight session on Thursday, as signs of easing global trade tensions dampened deman...
Thu, Jul 24
US Senate committee approves Trump's UN envoy pick, nomination heads to full vote
By Patricia Zengerle WASHINGTON, July 24 (Reuters) - The U.S. Senate Foreign Relations Committee on Thursday voted narrowly in favor of Mike Waltz, President Donald Trump's pick to be U.N. envoy, clearing the way for a confirmation vote in the full 100-member Senate.The panel voted 12-10 in f...
Thu, Jul 24
REFILE-Intel beats shareholder lawsuit over $32 billion stock plunge
By Jonathan Stempel July 24 (Reuters) - A federal judge dismissed a lawsuit accusing Intel INTC.O of defrauding shareholders by concealing problems in a business where it manufactured chips for outside customers, leading to a $32 billion one-day plunge in its market value.While saying she "un...
Thu, Jul 24
US new home sales below expectations in June; housing supply rises
WASHINGTON, July 24 (Reuters) - Sales of new U.S. single-family homes increased less than expected in June amid higher mortgage rates, pushing inventory to levels last seen in late 2007, which could keep homebuilding subdued. New home sale units rose 0.6% to a seasonally adjusted annualized rate of...
Thu, Jul 24
Video-sharing app Vine is returning 'in AI form', Musk says
July 24 (Reuters) - Elon Musk's social media company X is bringing back popular video-sharing platform Vine in "AI form", the billionaire tech-entrepreneur said on Thursday, almost nine years after the app was discontinued.Musk made the announcement in a post on X, formerly Twitter, but ...
Thu, Jul 24
Canada's retail sales shrink as tariffs bite, June expected to improve
Retail sales shrank by 1.1% in May, led by automobiles, foodSales excluding autos in May were down 0.2%, StatsCan addsEarly estimate shows retail sales likely grew 1.6% in JuneBy Promit MukherjeeOTTAWA, July 24 (Reuters) - Canada's retail sales shrank by 1.1% in May as consumers curtailed car pu...
Thu, Jul 24
American Airlines forecasts wide range due to economic uncertainty
Soft domestic travel demand impacts American's bookings, shares fall over 9%American's Q3 loss forecast exceeds analysts' expectationsAmerican's domestic unit revenue expected to remain lower year-over-year in Q3American's outlook contrasts with Delta, United, and Alaska Air'...
Thu, Jul 24
[Reuters Analysis] Markets' trade deal euphoria ignores tariff reality: McGeever
By Jamie McGeeverORLANDO, Florida, July 24 (Reuters) - The optimism sweeping world stock markets following news of emerging and expected U.S. trade deals is undeniable and understandable. But it is also puzzling. The S&P 500, Britain's FTSE 100 and the MSCI All Country index have powered to ...
Thu, Jul 24
Nvidia AI chips worth $1 billion entered China despite US curbs, FT reports
July 24 (Reuters) - Nvidia's NVDA.O advanced artificial intelligence chips worth at least $1 billion were smuggled to China in the three months after Washington tightened chip export controls, the Financial Times reported on Thursday.The AI chip designer's high-end B200 processors, banned fo...
Thu, Jul 24
US-South Korea trade talks postponed over Bessent schedule as tariff deadline looms
South Korea finance chief was set to board for Washington when news of delay brokePressure piling on Seoul after Japan clinches trade dealRange of sectors, investment projects considered under potential deal remain unclearSouth Korea to propose investment package of at least $100 billion -YonhapBy J...
Thu, Jul 24
GLOBAL MARKETS-Trade deal hopes lift Europe ahead of ECB meeting
MSCI world stocks index up for seventh sessionDollar, oil prices and bond yields all tick higherECB expected to pause rate cutting cycleTurkey set to restart rate cutsBy Marc Jones LONDON, July 24 (Reuters) - Trade deal optimism lifted world stocks to fresh record highs on Thursday, ahead a raft ...
Thu, Jul 24
Hyundai Motor warns of bigger hit from US tariffs after Q2 profit fall
Hyundai operating profit down 16% in Q2Hyundai takes hit of $606 million from tariffs in Q2Warns of higher tariff costs in Q3By Hyunjoo Jin, Heekyong Yang and Joyce Lee SEOUL, July 24 (Reuters) - Hyundai Motor 005380.KS posted a decline in second-quarter operating profit on Thursday as U.S. tarif...
Thu, Jul 24
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[Reuters Breakingviews] Trump auto tariff U-turn gives everyone whiplash
By Katrina Hamlin HONG KONG, July 24 (Reuters Breakingviews) - President Donald Trump’s auto tariff U-turn is making everyone carsick. His latest deal cuts U.S. tariffs on Japanese vehicle imports to 15% from a previous total of 27.5%, offering respite to companies that haven’t invested heavily i
Thu, Jul 24
