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AMD Forecasts $2 Billion Sales of AI Chips, Helping Shares Rebound

Cam White | October 31, 2023

By Chavi Mehta and Stephen Nellis (Reuters) -Chip designer Advanced Micro Devices on Tuesday forecast $2 billion in sales in 2024 from a chip that aims to compete with Nvidia in the artificial intelligence (AI) market, helping shares recover after a quarterly outlook missed expectations. AMD forecast fourth-quarter revenue and gross margins below Wall Street […]

Apple Expected to Unveil New Macs as PC Industry Slump Eases

Cam White | October 30, 2023

By Stephen Nellis (Reuters) – Apple is expected to unveil at an event on Monday new Mac computers and possibly a new chip to power them as it gears up for a fresh bout of competition against Windows-based PCs with better battery life starting next year, analysts said. The event, to be livestreamed at 8 […]

Panama Orders Halt to New Mining Projects as Street Protests Grow

Cam White | October 28, 2023

By Valentine Hilaire (Reuters) -Panama will reject all new mining projects, the president said on Friday, as his government defends a controversial contract extending operations for two decades at a major copper mine that has sparked growing protests demanding its cancellation. President Laurentino Cortizo announced that the new mining restrictions will apply to both future […]

Weight-Loss Drugs in Spotlight as Pharma Services Firms Rush to Snap up Business

Cam White | October 27, 2023

By Maggie Fick BARCELONA (Reuters) – Soaring demand for obesity drugs was in the spotlight at the world’s largest trade show for the pharmaceutical services industry this week, as it fuels a boom for firms that fill and assemble the self-injection pens. A surge in sales of Novo Nordisk’s drug Wegovy, which launched in the […]

Hyundai Sticks to EV Rollout Plans, Sees Solid Growth This Year

Cam White | October 26, 2023

By Heekyong Yang and Joyce Lee SEOUL (Reuters) -Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year – a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but […]

Thermo Fisher Cuts Annual Profit Outlook Again on Weak Biotech Demand

Cam White | October 25, 2023

(Reuters) -Thermo Fisher Scientific on Wednesday cut its annual profit forecast for the second straight quarter following weak demand for its services used to make therapies and vaccines as well as higher raw material costs for the year. The medical equipment maker’s shares fell about 2% in premarket trading as it forecast annual adjusted profit […]

Bitcoin Hits Three-Month High, Buoying Crypto Stocks

Cam White | October 23, 2023

By Hannah Lang and Kanjyik Ghosh (Reuters) -Bitcoin, the world’s largest cryptocurrency, hit a three-month high on Monday, rising 4.73% to $31,420 amid investor enthusiasm about the possibility of a spot bitcoin exchange-traded fund. The rise in bitcoin sent shares of cryptocurrency and blockchain-related companies such as Coinbase Global and Marathon Digital Holdings up 6.5% […]

Chevron to Buy Hess Corp for $53 Billion in Second Oil Mega-Merger in Weeks

Cam White | October 23, 2023

(Reuters) -Chevron said on Monday it agreed to buy Hess for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. The proposed deal raises the competition between Chevron, the No. 2 U.S. oil and gas producer behind […]

Vietnam Arrests Rare Earth Industry Officials, Casting Shadow Over Plans to Rival China

Cam White | October 20, 2023

By Khanh Vu and Francesco Guarascio HANOI (Reuters) -Police in Vietnam have arrested six people accused of violating mining regulations, including the chairman of a company at the forefront of a drive to create a rare earth industry that could challenge China’s dominance of the sector. Vietnam’s government is planning to auction new mining concessions […]

Tesla’s Musk Raises Cybertruck Production Concerns, Reveals Delivery Date

Cam White | October 19, 2023

By Akash Sriram (Reuters) – Tesla CEO Elon Musk on Wednesday warned of difficulties in ramping up production of the automaker’s much-awaited Cybertruck electric pickup truck and announced that deliveries would begin on Nov. 30. The world’s most valuable automaker produces electric sedans and sport utility vehicles but has missed out on the pickup truck […]

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