Category: Reuters
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J&J talc bankruptcy stays in Texas despite ‘forum-shopping’ opposition By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – Johnson & Johnson’s (NYSE:) subsidiary can pursue its third attempt to resolve tens of thousands of lawsuits alleging that its talc products cause cancer in federal bankruptcy court in Texas, a judge ruled on Thursday, allowing the company… To avoid the place…
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Bosch, Tenstorrent to collaborate on standardizing automotive chips By Reuters
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Written by Max A. Cherny SAN FRANCISCO (Reuters) – German industrial giant Bosch will team up with U.S. chip startup Tenstorrent to develop a platform for unifying key elements of automotive chips, Tenstorrent executives said. Plans include developing a standardized way to use a building block of modern chips, called…
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AMD sees next AI chip in mass production later this year By Reuters
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Written by Max A. Cherny SAN FRANCISCO (Reuters) – Advanced Micro Devices said on Thursday it plans to begin mass production of a new version of its artificial intelligence chip called the MI325X in the fourth quarter of the year, as it seeks to bolster its presence in a market…
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Russian rouble hits one-year lows against major currencies By Reuters
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MOSCOW (Reuters) – The Russian ruble fell further on Thursday, remaining at its lowest level against the U.S. dollar since October 2023. At 0740 GMT, the ruble fell 0.4% to 97.40 against the dollar, London Stock Exchange data showed. On Wednesday, the ruble reached the 97 level for the first…
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GSK shares jump after settlement of 80,000 Zantac lawsuits in U.S By Reuters
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(Reuters) – GlaxoSmithKline shares rose 6 percent on Thursday after the British drugmaker agreed to pay up to $2.2 billion to settle lawsuits in the United States alleging that the discontinued heartburn drug Zantac causes cancer. The agreement, announced on Wednesday, was well below some analysts’ estimates, including JPMorgan’s forecast…
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Dollar hits 10-week high vs yen as Fed easing bets ebb ahead of CPI By Reuters
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Written by Kevin Buckland TOKYO (Reuters) – The U.S. dollar rose to a 10-week high against the yen on Thursday as markets grew more confident about the Federal Reserve’s patient approach to further monetary easing, even as a key inflation report was due later. today. The index, which measures the…
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Israel says eliminates Hezbollah ‘Golan Heights’ member, Syrian media report Israeli airstrikes By Reuters
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Written by James McKenzie and Taimur Azhari JERUSALEM/BEIRUT (Reuters) – The Israeli military said it had eliminated a member of the Hezbollah group in Syria who was transmitting intelligence against Israel in the Israeli-occupied Golan Heights, while Syrian media reported on Thursday that Israeli air strikes had hit targets in…
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Former Pfizer executives not involved in Starboard’s campaign against drugmaker By Reuters
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(Reuters) – Pfizer (NYSE:) former CEO and Chairman Ian Read and former CFO Frank D’Amelio said in a statement that they will not partner with activist investor Starboard Value, which wants the US pharmaceutical giant to make changes to turn around its performance. “We fully support Pfizer Chairman and CEO…
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PBOC is expected to set the USD/CNY reference rate at 7.0734 – Reuters estimate
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The People’s Bank of China is scheduled to release the USD/CNY reference exchange rate at approximately 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or renminbi). The People’s Bank of China follows…
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Column-Dollar won’t fall as rest of world won’t let it: Mike Dolan By Reuters
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Written by Mike Dolan LONDON (Reuters) – The dollar had its best week in two years, showing once again how risky it is to bet against the greenback if the rest of the world doesn’t let it slide. The DXY index, which measures the value of the dollar against the…
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US dollar edges up to two month highs as Fed, CPI eyed By Reuters
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Written by Alden Bentley NEW YORK/LONDON (Reuters) – The U.S. dollar rose on Wednesday ahead of the release of records of the Federal Reserve’s decision in September to cut interest rates by 50 basis points, reflecting confidence that the central bank will not continue to ease aggressively. Concerns about demand…
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US bank profits to shrink on interest income, focus shifts to Fed cuts By Reuters
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Written by Nupur Anand NEW YORK (Reuters) – JPMorgan Chase and Wells Fargo began reporting sector earnings on Friday, with investors expected to focus on the big banks’ net interest income forecasts after strong jobs data fueled uncertainty about the future path of the federal funds rate. Sale. Both banks…
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TSMC’s third-quarter revenue easily beats market forecast By Reuters
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TAIPEI (Reuters) – TSMC, the world’s largest contract chip maker, on Wednesday reported third-quarter revenue that easily beat market and the company’s own expectations as it reaped the benefit of demand for artificial intelligence. The Taiwan Semiconductor Manufacturing Company, whose clients include Apple (NASDAQ:) and Nvidia (NASDAQ:), has been at…
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India, S. Korea bonds to join FTSE Russell government indexes in 2025 By Reuters
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(Reuters) – Russell Global Indexes said on Tuesday it will include Indian sovereign bonds in the Emerging Market Government Bond Index (EMGBI) from September 2025, following the inclusion of the index by JPMorgan and Bloomberg Index Services, which could attract billions of dollars into bonds. Local. . The London-based index…
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Foxconn building Nvidia superchip facility in Mexico, executives say By Reuters
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By Yimo Li TAIPEI (Reuters) – Foxconn is building the world’s largest manufacturing facility in Mexico to assemble Nvidia’s (NASDAQ:) GB200 super chips, a key component in the U.S. company’s next-generation Blackwell family computing platform, the company’s top executives said. Taiwanese on the 23rd. Tuesday. Foxconn, the world’s largest contract…
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Citi pushes back on New York lawsuit over fraud scams, Bloomberg News reports By Reuters
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(Reuters) – Citigroup lawyers urged U.S. District Judge Paul Oetken to dismiss a lawsuit filed in January by Attorney General Letitia James, which accuses the Citibank unit of failing to compensate customers who fall victim to online scammers, Bloomberg News reported on Tuesday. The report added that the lawyers said…
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Miners, luxury sector weigh on Europe’s STOXX 600 By Reuters
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By Sruthi Shankar, Paolo Laudani, and Johann M. Cherian (Reuters) – European stocks closed lower on Tuesday, as a lack of new details on China’s stimulus measures sparked selling in sectors linked to the world’s second-largest economy, such as mining and luxury goods. The European index fell by about 1%…
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Nobel physics prize goes to machine learning pioneers By Reuters
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Written by Niklas Pollard and Johan Ahlander STOCKHOLM (Reuters) – American scientist John Hopfield and British-Canadian Geoffrey Hinton have won the 2024 Nobel Prize in Physics for their discoveries and inventions that laid the foundation for machine learning, the Nobel Prize-awarding body said on Tuesday. The award-giving body said in…
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GM seeks to ease investor concerns as EV growth slows By Reuters
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Written by Nora Eckert DETROIT (Reuters) – General Motors (NYSE:) will seek to allay shareholder concerns on Tuesday that declining demand for electric vehicles and an expected peak in demand for gasoline-powered trucks will create a tough road ahead for the automaker. CEO Mary Barra and her executive team will…
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Dollar eases from 7-week highs as traders weigh Fed rate path By Reuters
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Written by Ankur Banerjee and Medha Singh SINGAPORE/LONDON (Reuters) – The dollar fell from a nearly seven-week high against major currencies on Tuesday after investors weighed expectations of a U.S. interest rate cut, even as geopolitical tensions in the Middle East continued to support the currency’s safe-haven appeal. The euro…