Bumble beats first-quarter revenue estimates, shares surge
(Reuters) -Bumble beat Wall Street estimates for first-quarter revenue on Wednesday, a sign that its push for attracting payers at its dating apps is paying off. Shares of the Austin, Texas-based company, which offers dating apps such as Bumble, Badoo,...
12h ago
US confronts China over Volt Typhoon cyber espionage
By Zeba Siddiqui SAN FRANCISCO (Reuters) - U.S. officials confronted the Chinese government in Beijing last month about a sweeping cyber espionage campaign through which Chinese hackers have broken in to dozens of American critical infrastructure o...
13h ago
Instacart forecasts upbeat current-quarter, taps Uber veteran as CFO
By Granth Vanaik (Reuters) -Instacart forecast its second-quarter gross transaction value (GTV) and core profit above estimates on Wednesday, helped by a surge in grocery orders as well as higher fees for the advertisements it showcases on its grocery ...
13h ago
Arm's quarterly revenue forecast beats Street; annual rev guidance misses
By Max A. Cherney and Stephen Nellis (Reuters) -Chip designer Arm Holdings gave a fiscal first-quarter revenue forecast on Wednesday that beat Wall Street's expectations, but its full-year forecast was below expectations. Shares of Arm fell about 4% in...
14h ago
Airbnb posts higher profits on global travel demand
(Reuters) - Vacation rental company Airbnb reported a higher quarterly profit on Wednesday, boosted by an increase in travel in international markets as North American bookings decelerated during the period. Shares of the company were up 3% after t...
14h ago
Microsoft to shut Africa development centre in Nigeria
LAGOS (Reuters) - Microsoft is closing down its Africa Development Centre in the continent's most populous nation Nigeria, which will lead to job losses, a spokesperson said on Wednesday. The centre, based in the commercial capital Lagos was opened...
15h ago
Nigeria rejects Binance CEO's bribery claim as 'diversionary tactic'
By Camillus Eboh ABUJA (Reuters) - Nigerian authorities on Wednesday denied allegations from Binance's CEO of soliciting bribes, saying the claim was a "diversionary tactic" and an "act of blackmail" aimed at undermining ongoing criminal charges ag...
18h ago
Legislative roadmap for AI is coming in weeks, Schumer says
WASHINGTON (Reuters) - Senate Majority Leader Chuck Schumer said on Wednesday he would provide a roadmap for artificial intelligence in the coming weeks that will be translated into legislation. "In a few weeks, we'll come up with a roadmap, and......
20h ago
US official says Chinese seizure of TSMC in Taiwan would be 'absolutely devastating'
WASHINGTON (Reuters) - U.S. Commerce Secretary Gina Raimondo said Wednesday a Chinese invasion of Taiwan and seizure of chips producer TSMC would be "absolutely devastating" to the American economy. Asked at a U.S. House hearing about the impact, R...
20h ago
Turkey's competition board to fine Meta $37.2 million in data-sharing probe
ISTANBUL (Reuters) - Turkey's competition board fined Meta Platforms 1.2 billion lira ($37.20 million) on Wednesday after concluding two separate investigations on data-sharing in its Facebook, Instagram, WhatsApp and Threads platforms. The board l...
20h ago
Reddit shares soar as earnings show advertising, AI licensing revenue potential
(Reuters) - Reddit shares soared 14% on Wednesday after the social media firm floored investors with strong revenue growth and improving profitability in the first earnings since its market debut. The company surprised Wall Street late on Tuesday w...
20h ago
SpaceX's unit Starlink secures Indonesia operating permit
JAKARTA (Reuters) - The satellite unit of Elon Musk's SpaceX, Starlink, has secured a permit to operate in Indonesia, its communications minister told Reuters on Wednesday. Starlink had obtained a permit to operate as an internet service provider f...
22h ago
Emerson Electric boosts 2024 profit view on measurement tools demand
(Reuters) - Emerson Electric raised its full-year profit forecast on Wednesday on steady demand in its unit that makes valves, regulators and actuators, sending the engineering solutions firm's shares up about 2% in premarket trade. The company's m...
22h ago
Uber shares tumble as second-quarter forecast disappoints
By Yuvraj Malik (Reuters) -Uber forecast second-quarter gross bookings below expectations after missing the target for the first three months on Wednesday, sending it shares down nearly 7% before the bell. The weakness in a key metric that indicates th...
22h ago
Biden to unveil $3.3 billion Microsoft AI investment in battleground Wisconsin
By Andrea Shalal WASHINGTON (Reuters) - President Joe Biden will visit the political battleground state of Wisconsin on Wednesday to announce plans by Microsoft Corp to build a $3.3 billion high-tech data center that will create thousands of jobs, ...
22h ago
Intel flags revenue hit as U.S. revokes certain export licenses to Chinese customer
(Reuters) - Chipmaker Intel said on Wednesday the U.S. Department of Commerce was revoking certain export licenses for its consumer-related items to a customer in China, a move that would impact its second-quarter revenue. Intel did not disclose th...
22h ago
Poland says it was targeted by hacking attack from Russia-linked group APT28
WARSAW (Reuters) - Poland was targeted by a hacking attack from Russia-linked group APT28 this week, the state-run National Research Institute (NASK) said on Wednesday. (Reporting by Alan Charlish, Pawel Florkiewicz)
22h ago
SK Hynix to sell 50% stake in China foundry unit to Chinese enterprise -Korea Economic Daily
SEOUL (Reuters) - South Korea's SK Hynix has agreed to sell its nearly 50% stake in its foundry unit based in China to a Chinese state-owned enterprise, according to regulatory filings and media reports. SK Hynix System IC said in a regulatory fili...
23h ago
EU asks X for details on reducing content moderation resources
BRUSSELS (Reuters) - The European Commission has requested information from social media platform X on decreasing content moderation resources under the EU's Digital Services Act, it said on Wednesday. "The request seeks to obtain more details on X...
23h ago
Exclusive-US eyes curbs on China's access to AI software behind apps like ChatGPT
WASHINGTON (Reuters) - The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China with preliminary plans to place guardrails around the most advanced AI Models, the core software of artificial intelligen...
May 08, 2024
Rockwell plans to expand in India with more factories, tech workers
By Praveen Paramasivam (Reuters) - Rockwell Automation is mulling expanding its technology workforce and opening more factories to boost manufacturing in India, a senior executive said on Wednesday, days after unveiling plans to construct a plant i...
May 08, 2024
SoftBank in talks to buy AI chipmaker Graphcore, Bloomberg reports
(Reuters) - Japan's SoftBank Group is in talks to buy artificial intelligence (AI) chipmaker Graphcore, Bloomberg News reported on Wednesday, citing people familiar with the matter. The months-long negotiations between the two companies recently re...
May 08, 2024
Exclusive-Amazon breaks into Europe 5G networks with Telefonica cloud deal
By Supantha Mukherjee STOCKHOLM (Reuters) - Telefonica Germany will move one million 5G customers to Amazon Web Services (AWS) cloud later this month, company executives told Reuters, in a bold move by the U.S. online retailer to break into the gl...
May 08, 2024
Tesla has proposed to launch robotaxis in China, Chinese state media reports
BEIJING (Reuters) - Tesla has proposed to launch robotaxis in China, newspaper China Daily reported on Wednesday, citing unnamed sources. According to the report, China may support Tesla's domestic testing and demonstration of robotaxis but has not...
May 08, 2024
Samsung Medison buys AI software firm Sonio SAS for $92 million
SEOUL (Reuters) - South Korea's Samsung Medison said on Wednesday it is acquiring all of France's Sonio SAS, a fetal ultrasound artificial intelligence software company for about 126 billion won ($92.4 million). Samsung Electronics owns 68.45% stak...
May 08, 2024