Technology
June 18, 2024
13 views 4 mins 0

Oil prices stable as demand uncertainty persists

By Paul Carsten LONDON (Reuters) – Oil prices were stable on Tuesday, as traders awaited signs of a hoped-for summer demand boost to prop up prices even as strong supply threatens to blunt gains. Benchmark Brent crude futures were down 2 cents to $84.23 per barrel at 1231 GMT after climbing in the previous session. […]

Technology
June 18, 2024
40 views 3 mins 0

Oil up on firming demand, Mideast tensions underpin risk premium

By Georgina McCartney (Reuters) – Oil prices ticked up in early trade on Tuesday, extending gains from the previous session on a stronger demand outlook and investor confidence that OPEC+ producers could pause or reverse plans to raise supplies from the fourth quarter of this year. Global benchmark Brent crude futures were up 21 cents, […]

Technology
June 18, 2024
31 views 2 mins 0

Foxconn Billionaire’s Eight-Year Stock Target Finally Comes True

(Bloomberg) — Terry Gou, the billionaire founder of iPhone assembler Foxconn Technology Group, has finally reached a goal that had eluded him for about eight years. Most Read from Bloomberg Shares of the group’s flagship Hon Hai Precision Industry Co. closed Monday at NT$200 ($6.18), a level Gou had pledged to achieve in 2016. The […]

Technology
June 18, 2024
20 views 4 mins 0

Big Tech Wants Nuclear Power But Doesn’t See Role as Investor

(Bloomberg) — Big technology companies including Microsoft Corp. and Google are eager to see more nuclear energy feeding their power-hungry data centers, but are far less willing to provide the capital needed to pay for a growing interest in reactors. Most Read from Bloomberg While artificial intelligence and data centers are expected to boost power […]

Technology
June 18, 2024
70 views 3 mins 0

Exclusive-Some Colonial Pipeline owners eye stake sales at $10 billion-plus company valuation, sources say

By David French (Reuters) – Some of Colonial Pipeline’s owners are exploring divesting their stakes, hoping they can fetch prices that would value the largest U.S. fuel transportation system in excess of $10 billion, according to people familiar with the matter. Growing U.S. energy consumption has raised demand for pipeline capacity. Any deal would test […]

Technology
June 17, 2024
55 views 4 mins 0

Hackers Demand as Much as $5 Million From Snowflake Clients

(Bloomberg) — Cybercriminals are demanding payments of between $300,000 and $5 million apiece from as many as 10 companies breached in a campaign that targeted Snowflake Inc. customers, according to a security firm helping with the investigation. Most Read from Bloomberg The hacking scheme has entered a “new stage” as the gang looks to profit […]

Technology
June 17, 2024
42 views 3 mins 0

Kansas accuses Pfizer of misleading public about COVID vaccine in lawsuit

By Brendan Pierson (Reuters) – The U.S. state of Kansas on Monday sued Pfizer, accusing the company of misleading the public about its COVID-19 vaccine by hiding risks while making false claims about its effectiveness. In a lawsuit filed in the District Court of Thomas County, the state said the New York-based drugmaker’s alleged false […]

Technology
June 17, 2024
18 views 2 mins 0

Apple Shutting Down Pay Later, Its Affirm Rival, After One Year

(Bloomberg) — Apple Inc. is shutting down its Pay Later program, which let customers make purchases on an installment plan, marking a retreat from efforts to offer more financial services in-house. Most Read from Bloomberg The company said Monday that it’s no longer offering loans for Apple Pay Later, which allowed users to pay off […]

Technology
June 17, 2024
40 views 3 mins 0

Adobe Sued by US Regulators Over Subscription Cancellations

(Bloomberg) — The US Federal Trade Commission sued Adobe Inc., alleging the software company violated consumer protection laws by making it too difficult for consumers to cancel their subscriptions. Adobe pushed users toward annual subscriptions to its creative software such as Photoshop without “adequately disclosing” that canceling in the first year could cost hundreds of […]

Technology
June 17, 2024
26 views 3 mins 0

Trafigura agrees to pay $55 million to settle CFTC charges

(Reuters) – A unit of global commodities trader Trafigura has agreed to pay a $55 million civil fine to settle U.S. Commodity Futures Trading Commission charges of fraud, manipulation and impeding whistleblower communications. Trafigura Trading LLC, a Houston firm that is part of Trafigura Beheer BV, violated U.S. law and regulations by trading gasoline with […]

Technology
June 17, 2024
46 views 4 mins 0

Financial alliances build as Citgo share auction enters last mile

By Marianna Parraga HOUSTON (Reuters) – At least five groups of investors submitted binding bids this month in a U.S. court-ordered auction of shares in Citgo Petroleum’s parent, and three have secured financing commitments for Venezuela’s foreign crown jewel, people close to the matter said. In the last mile of an unprecedented auction to pay […]

Technology
June 17, 2024
41 views 2 mins 0

Adobe Sued by US Regulators Over Subscription Cancellation Fees

(Bloomberg) — The US Federal Trade Commission sued Adobe Inc., alleging the software company violated consumer protection laws by making it too difficult for consumers to cancel their subscriptions. Most Read from Bloomberg Adobe pushed users toward annual subscriptions to its creative software such as Photoshop without “adequately disclosing” that canceling in the first year […]