By Stephen Nellis (Reuters) – U.S. export controls on sending advanced computing chips to China are not meant to hold back China’s economy or technological development, Secretary of State Antony Blinken said during an interview with National Public Radio on Friday. Since 2022, U.S. officials have imposed sweeping controls on which computing chips can be […]
(Reuters) – U.S. defense contractor L3Harris cut 5% of its workforce earlier this month in a bid to streamline its business and save costs, CEO Chris Kubasik said in a post-earnings conference call on Friday. The announcement confirms a Reuters report from Tuesday which said the company would cut 5% of its workforce this year, […]
(Bloomberg) — Erich Andersen, the US-based general counsel for TikTok and its Chinese parent company ByteDance Ltd., is stepping down from that role, the social media app said. Most Read from Bloomberg Andersen, who was a key executive responsible for convincing the US government that the company was doing enough to stave off national security […]
(Bloomberg) — Intel Corp., the biggest maker of personal computer processors, tumbled the most in three months on Friday after giving a lackluster forecast for the current period, indicating that it’s still struggling to return to the top tier of the chip industry. Most Read from Bloomberg Sales in the second quarter will be about […]
(Bloomberg) — Apollo Global Management Inc., KKR & Co. and Stonepeak may inject billions of dollars into a joint venture that will help fund Intel Corp.’s semiconductor fabrication facility in Ireland, according to people with knowledge of the matter. Most Read from Bloomberg The alternative asset managers are considering investing in a joint venture that […]
After several steps forward with investors, it’s a few steps back for Intel (INTC). Shares of the chipmaker fell 8% on Friday, following several hiccups in its first quarter results and second quarter guidance. While the company’s first quarter earnings managed to surpass forecasts by $0.05, its guidance for the rest of the year came […]
LONDON (Reuters) – The end of oil is not in sight, OPEC’s top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting emissions not oil use. In an op-ed article in the Middle East Economic Survey (MEES) published […]
By Sabrina Valle HOUSTON (Reuters) – U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. In the U.S., Exxon Mobil missed Wall Street earnings targets on larger-than-forecast drop in natural gas earnings and Chevron beat tempered expectations with […]
(Bloomberg Law) — Delta Air Lines Inc. CEO Ed Bastian and Microsoft Corp.‘s Satya Nadella are among the corporate executives tapped Friday to help shield critical US services from artificial intelligence-powered attacks, as part of the Biden administration’s broader effort to minimize risks the technology poses to national security. Most Read from Bloomberg The board, […]
(Bloomberg) — Snap Inc.’s sizable post-earnings swing Friday is nothing new to its investors. What’s different this time is the direction: up. Most Read from Bloomberg Shares of the Snapchat parent gained as much as 30%, the latest example of the social-media company’s history of huge moves on quarterly reports. Since the second quarter of […]
(Bloomberg) — Top Amazon.com Inc. executives including founder Jeff Bezos and Chief Executive Officer Andy Jassy destroyed text messages discussing business, the Federal Trade Commission alleged, erasing evidence the agency could have used in its antitrust case against the retail giant. Most Read from Bloomberg Between April 2019 and May 2022, Bezos, Jassy and others […]
(Bloomberg) — The top US auto-safety regulator is again investigating Tesla Inc.’s Autopilot, this time over whether a fix deployed months ago did enough to stop people from misusing the system. Most Read from Bloomberg The National Highway Traffic Safety Administration disclosed Friday that it’s opened a query into the Autopilot recall Tesla conducted in […]
