Author: Reuters
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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…
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U.S. weekly jobless claims dive to a more than three-year low
WASHINGTON – The number of Americans filing new applications for unemployment benefits fell to a more than three-year low last week, allaying fears of a sharp deterioration in labor market conditions after independent surveys showed job losses in November. Difficulties adjusting the weekly jobless claims data around the Thanksgiving holiday could have accounted for some…
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U.S. private payrolls decline in November as small businesses shed jobs
WASHINGTON – U.S. private payrolls unexpectedly declined in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market’s health, with recent government data showing layoffs remaining at low levels late last month. Economists also cautioned against reading too much into the ADP employment report published on…
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Record shoppers, online sales surge signal strong holiday season momentum
U.S. shoppers spent $14.25 billion on Cyber Monday, pushing total online sales over the Thanksgiving weekend to $44.2 billion, according to an Adobe Analytics report, as consumers lapped up offers on everything from gadgets to household essentials. Spending rose 7.7% during the so-called Cyber Week – the five days from Thanksgiving to Cyber Monday –…
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Amazon to use Nvidia tech in AI chips, roll out new servers
LAS VEGAS – Amazon.com’s AWS cloud computing unit on Tuesday said it will adopt key Nvidia technology in future generations of its artificial intelligence computing chips as the firm ramps up efforts to get major AI customers using its services. AWS, or Amazon Web Services, said it will adopt a technology called “NVLink Fusion” in…
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U.S. to announce ‘bridge payment’ for farmers next week, Rollins says
WASHINGTON – Agriculture Secretary Brooke Rollins said Tuesday that the Trump administration will announce a “bridge payment” for farmers next week that is designed to provide short-term relief while longer trade and aid packages are finalized. Farm groups and Republican lawmakers have pushed the administration to issue aid as farmers face low crop prices and…
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Trump says he will announce Fed chief nominee in early 2026
WASHINGTON – President Donald Trump said Tuesday he would be announcing his choice to succeed Jerome Powell as head of the Federal Reserve early next year, further teasing out a months-long audition process despite having said he already knows who he will pick to lead the world’s most important central bank. In remarks at a…