Author: Reuters
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Nvidia unveils new open-source AI models amid boom in Chinese offerings
SAN FRANCISCO – Nvidia on Monday unveiled a new family of open-source artificial intelligence models that it says will be faster, cheaper and smarter than its previous offerings, as open-source offerings from Chinese AI labs proliferate. Nvidia is primarily known for providing chips that firms such as OpenAI use to train their closed-source models and charge money for…
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Ford retreats from EVs, takes $19.5 billion charge
Ford Motor Co. said Monday it will take a $19.5 billion writedown and is killing several electric-vehicle models, in the most dramatic example yet of the auto industry’s retreat from battery-powered models in response to the Trump administration’s policies and weakening EV demand. The Dearborn, Mich.-based company said it will stop making the F-150 Lightning in…
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Israel says it killed senior Hamas commander
Reuters CAIRO/JERUSALEM • The Israeli military said it killed senior Hamas commander Raed Saed, one of the architects of the Oct. 7, 2023, attacks on Israel, in a strike on a car in Gaza City on Saturday. It was the highest-profile assassination of a senior Hamas figure since a Gaza ceasefire deal came into effect in October.…
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CVS forecasts 2026 profit above estimates as turnaround plan takes effect
CVS Health expects 2026 profit to beat Wall Street estimates and this year’s projected earnings, it said Tuesday, signalling steady progress in the health conglomerate’s turnaround plan. The company has delivered on its promises this year and will now focus on improving consumer experiences across the business, Chief Executive David Joyner said during the CVS investor…
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U.S. job openings increase modestly in October
WASHINGTON – U.S. job openings increased marginally in October, but hiring remained subdued as employers navigated an uncertain economic environment. Job openings, a measure of labor demand, were up 12,000 to 7.670 million by the last day of October, the Labor Department’s Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey,…
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Exxon boosts forecast, aims for $25 billion earnings growth by 2030
HOUSTON – Exxon Mobil is targeting $25 billion in earnings growth from 2024 to 2030 and will increase oil and gas production, the top U.S. oil producer said Tuesday as the company leans on profitable assets in Guyana and the Permian Basin. The outlook represents a $5 billion increase from its previous plan, although Exxon…
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IBM accelerates cloud drive with $11 billion Confluent deal as AI demand booms
IBM said Monday it will buy data infrastructure company Confluent in a deal valued at $11 billion, ramping up its cloud-computing offerings to capitalize on an AI-driven demand boom. Big Blue, under CEO Arvind Krishna, has doubled down on M&As to beef up its cloud and software business – a high-growth, high-margin area – as…
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Trump announces $12B aid package for farmers
WASHINGTON – President Donald Trump on Monday unveiled a $12 billion aid package for American farmers, the latest government effort to shore up a key political constituency hurt by the financial fallout from his trade policies. Farm groups and Republican farm-state lawmakers have sought the aid in part to support farmers with purchases of seeds, fertilizer and other…
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Paramount launches hostile bid for Warner Bros.
Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros. Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion…
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December Fed interest rate cut seems likely despite policymaker divide
The U.S. Federal Reserve will reduce its key interest rate by a quarter-percentage point at the December 9-10 policy meeting to support a cooling labor market, according to a majority of over 100 economists surveyed by Reuters. That strong consensus broadly mirrored a November poll and the near-85% chance of a cut implied by rate…