By Neil J Kanatt (Reuters) -General Mills cut its annual sales and profit forecasts on Wednesday, as the Pillsbury owner takes a hit from choppy demand for salty snacks and pet food in North America amid competition from private-label rivals. Shares of the Cheerios maker was down around 3% in early trading. Several packaged food…
(Reuters) -Nvidia CEO Jensen Huang said on Wednesday that orders for some 3.6 million of its flagship “Blackwell” chips from four top cloud service providers “under represented” demand, since they did not include orders from key customer Meta. Facebook-owner Meta Platforms is among the largest buyers of Nvidia chips and Mark Zuckerberg, CEO of the…
By Michael S. Derby WASHINGTON (Reuters) – The Federal Reserve said on Wednesday that it will reduce the pace of the drawdown of its still-massive balance sheet, as it faces challenges in assessing market liquidity during an ongoing impasse over lifting the government’s borrowing limit. The announcement came as part of a Federal Open Market…
By Foo Yun Chee BRUSSELS (Reuters) – Amazon lost its fight against a record 746 million euro ($812.4 million) fine handed out by Luxembourg’s privacy regulator four years ago as a court sided with the watchdog, according to a statement on the regulator’s website. The Luxembourg National Commission for Data Protection (CNPD) said the country’s…
Nike (NYSE: NKE) is set to report its Q3 fiscal 2025 earnings on Thursday after the bell, and investors are bracing for one of its most critical reports in years. With revenue expected to decline double digits, supply chain costs mounting, and new tariff threats looming, this quarter will be a major test of Nike’s resilience….
By Jayla Whitfield-Anderson (Reuters) -Victor Fettes, 54, is going ahead with his long-planned retirement next Friday. But the recent decline in the stock market and uncertainty over how U.S. President Donald Trump’s policies will hit the economy have him rethinking how he’ll spend it. “I’ll say I’m nervous,” says Fettes, a senior director of risk…
By Jonathan Stempel (Reuters) – Google agreed to pay $28 million to settle a class action lawsuit claiming that it favored white and Asian employees by paying them more and putting them on higher career tracks than other workers. The accord with Google, a unit of Alphabet, won preliminary approval last week from Judge Charles…
By Kalea Hall and Abhirup Roy (Reuters) – General Motors will use artificial intelligence chips and software from Nvidia to develop autonomous vehicle technology for its vehicles and improve workflow at its factories, the companies said on Tuesday. Traditional automakers have struggled to commercialize autonomous technology that has been more challenging and expensive than expected…
(Reuters) -Event contracts have exploded in popularity since the U.S. presidential election, fueling a heated debate between traders who have embraced the nascent asset class and critics who liken it to gambling. Several market players such as retail-favorite Robinhood and Interactive Brokers have rolled out event contracts in recent months, looking to cash in on…
By Pratima Desai LONDON (Reuters) – U.S. firms are buying cobalt metal produced in Indonesia by China’s Lygend Resources that does not incur the tariffs placed by the Trump administration on imports direct from China, three sources with direct knowledge of the matter said. U.S. President Donald Trump has imposed extra import tariffs on Chinese…
