Boeing’s Starliner crew capsule, which has been plagued by years of setbacks and cost overruns amounting to roughly $1.5 billion, is about to take its first flight with humans on board. Boeing was chosen 10 years ago alongside SpaceX to develop a spacecraft that could ferry astronauts from US soil to the International Space Station […]
Apple stock (AAPL) rose as much as 6% early on Friday after the tech giant reported earnings that beat forecasts, sales that fell less than feared, and announced a new $110 billion share repurchase plan. The iPhone maker reported late Thursday second quarter earnings per share (EPS) of $1.53 on revenue of $90.8 billion. Wall […]
Epic Games won its antitrust lawsuit against Google in December when a federal jury found that the latter violated US antitrust laws with regards to how it runs the Play Store. A few months later, the gaming developer submitted its list of demands, which if implemented will blow the Play Store wide open. Now, Google […]
What’s in the clouds for Amazon’s (AMZN) lucrative AWS business: $100 billion in 2024 sales. “This quarter, we just announced a few days ago that AWS did hit the $100 billion annualized revenue run rate milestone — not many tech companies have done that,” AWS CEO Adam Selipsky said on the Opening Bid podcast (video […]
(Bloomberg) — It’s been more than 18 months since Apple Inc. last updated its iPad line, marking the longest gap in new models since Steve Jobs first unveiled the product in 2010. The drought finally ends on May 7. Most Read from Bloomberg That’s the day Chief Executive Officer Tim Cook is poised to introduce […]
(Bloomberg) — A year after a wave of speculation broke out over its application to trademark the word “IndexGPT” in connection to an unspecified artificial intelligence-powered tool, JPMorgan Chase & Co. is finally unveiling the product that will bear the name. Most Read from Bloomberg IndexGPT is a new range of thematic investment baskets created […]
By Jonathan Stempel OMAHA, Nebraska (Reuters) – Two years ago, Warren Buffett branded Berkshire Hathaway’s energy business one of his conglomerate’s four “giants.” Now he fears its business model may be broken. Berkshire Hathaway Energy’s PacifiCorp unit faces billions of dollars in potential liabilities from wildfires that have scorched hundreds of thousands of acres in […]
A look at the day ahead in U.S. and global markets from Mike Dolan The strength of the U.S. labor market will give Wall Street’s interest rate relief a reality check on Friday, but Apple’s monster share buyback has buoyed the market in advance. The world’s second biggest company by market capitalisation wowed the gallery […]
By Robert Harvey and Arathy Somasekhar LONDON/HOUSTON (Reuters) – Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. Prolonged OPEC supply cuts […]
By Christoph Steitz, Tom Käckenhoff and Vladimir Soldatkin FRANKFURT/DUESSELDORF/MOSCOW (Reuters) – Uniper, the biggest corporate victim of Europe’s energy crisis, is looking to the courts to solve the issue of its dormant Russian gas supply contracts that could deter investors once it fully returns to the stock market, three people familiar with the matter said. […]
(Bloomberg) — Naver Corp., South Korea’s biggest internet company, is reviewing options for its holding in the operator of Japan’s most popular messaging app following pressure from Tokyo. Most Read from Bloomberg The company hasn’t determined its stance on its stake in LY Corp., Chief Executive Officer Choi Soo-yeon said on an earnings conference call […]
(Bloomberg) — SVB Financial Group, the former parent company of Silicon Valley Bank, said it reached a deal to sell its venture capital unit to a newly created affiliate of Pinegrove Capital Partners. Most Read from Bloomberg The transaction will involve a combination of cash and “other economic consideration” and is subject to bankruptcy court […]
