(Reuters) -Tech and growth stocks dragged Wall Street’s main indexes lower on Friday, at the end of an upbeat holiday-shortened week that was driven by expectations around a traditionally strong period for markets. The Dow Jones Industrial Average fell 0.95%, the S&P 500 was down 1.33% and the Nasdaq Composite briefly was down 1.72%. COMMENTS:…
(Reuters) – OpenAI on Friday laid out a plan to revamp its corporate structure next year, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its current non-profit parent. Under the proposed structure, the public benefit corporation (PBC) will run and control OpenAI’s operations and…
(Reuters) -An advanced U.S. military anti-missile system was used in Israel to try to intercept a projectile for the first time since President Joe Biden placed the system in Israel in October, a source familiar with the matter told Reuters on Friday. The THAAD, or Terminal High Altitude Area Defense system, was used to try…
By Suzanne McGee (Reuters) – U.S. tech investor Cathie Wood is calling on Donald Trump’s incoming administration to boost economic growth and policy certainty by backdating promised corporate and personal tax cuts to Jan. 1, 2025, she told Reuters. A laggard in recent years, Wood’s flagship ARK Innovation exchange-traded fund has surged 17% since Trump’s…
By Aditya Soni, Arsheeya Bajwa, Krystal Hu (Reuters) -OpenAI on Friday outlined plans to revamp its structure, saying it would create a public benefit corporation to make it easier to “raise more capital than we’d imagined,” and remove the restrictions imposed on the startup by its current nonprofit parent. The acknowledgement and detailed rationale behind…
(Reuters) -HomeStreet Bank is selling nearly $990 million of its multifamily commercial real estate loans to Bank of America, in a deal that the Seattle-based lender said would help it return to profitability and reduce costly funding sources. BofA has agreed to pay about $906 million for the loans —roughly 92% of the value of…
By Sneha S K and Sriparna Roy (Reuters) -The U.S. Food and Drug Administration said on Friday that it has approved an injectable version of Bristol Myers Squibb’s blockbuster cancer drug, Opdivo. Opdivo is part of a class of drugs called PD-1 inhibitors, which enhance the immune system’s ability to fight cancer by removing its…
By AJ Vicens (Reuters) – Healthcare organizations may be required to bolster their cybersecurity, to better prevent sensitive information from being leaked by cyberattacks like the ones that hit Ascension and UnitedHealth, a senior White House official said Friday. Anne Neuberger, the U.S. deputy national security advisor for cyber and emerging technology, told reporters that…
By Jonathan Allen NEW YORK (Reuters) – New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday. The law is intended to shift some of the recovery and…
NEW YORK (Reuters) – The NBA saw its most-watched Christmas Day lineup in five years, the league said on Thursday, as it went head-to-head with the NFL’s splashy debut on streaming giant Netflix. An average of 5.25 million viewers tuned in per game across five games on Walt Disney Co’s ABC, ESPN, ESPN2, Disney+ and…
