Canada fines Binance $4.38 million for money laundering violations
(Reuters) - Canada's anti-money laundering agency on Thursday said it had imposed a nearly C$6 million ($4.38 million) fine on cryptocurrency exchange Binance for violating the money laundering and terrorist financing laws. The Financial Transactio...
7h ago
SMIC misses Q1 profit estimates
By Liam Mo and Brenda Goh BEIJING (Reuters) - Semiconductor Manufacturing International Corp reported first-quarter net income of $71.79 million on Thursday, missing analysts' expectations. Unaudited profit attributable to owners of China's largest...
8h ago
Roblox cuts annual bookings forecast on muted player spending
By Zaheer Kachwala (Reuters) - Roblox cut its annual bookings forecast on Thursday, in a sign that people were dialing back on spending within its video-gaming platform amid an uncertain economic outlook and elevated levels of inflation. The compan...
9h ago
Tower Semiconductor Q1 revenue falls on weak demand
(Reuters) - Israel-based contract chipmaker Tower Semiconductor reported a 7% decline in first-quarter revenue on Thursday reflecting muted demand from the industrial and automotive sectors. Over the past few quarters, semiconductor firms are deal...
10h ago
Robinhood jumps as retail trading rebound powers record quarter
(Reuters) - Robinhood Markets jumped in premarket trading on Thursday after reporting record first-quarter revenue and profit thanks to mom-and-pop investors returning to its commission-free platform to trade cryptocurrencies. Retail trading has b...
11h ago
Explainer-How dependent is China on US artificial intelligence technology?
By Josh Ye HONG KONG (Reuters) - The Biden administration plans to put guardrails on U.S.-developed artificial intelligence (AI) models that power popular chatbots like ChatGPT to safeguard the technology from countries such as China and Russia, Re...
11h ago
Exclusive-Huawei's new phone uses more China-made parts, memory chip
By David Kirton and Brenda Goh SHENZHEN/SHANGHAI (Reuters) - Huawei's latest high-end phone features more Chinese suppliers, including a new flash memory storage chip and an improved chip processor, a teardown analysis showed, pointing to the progr...
19h ago
Factbox: What is in Huawei's new Pura 70 smartphones
(Reuters) - Huawei's new high-end Pura 70 smartphone series quickly sold out after it was launched last month with analysts touting it as another Apple iPhone challenger and adding to signs of how the Chinese firm is beating back against U.S. curbs...
19h ago
Disney, Warner Bros to offer streaming bundle of Disney+, Hulu and Max
LOS ANGELES (Reuters) -Walt Disney and Warner Bros Discovery will offer a bundle of the Disney+, Hulu and Max streaming services in the United States starting this summer, the companies said in a statement on Wednesday. Customers will be able to sign u...
22h ago
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,...
23h 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...
May 08, 2024
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 ...
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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......
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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...
May 08, 2024
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, ...
May 08, 2024
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...
May 08, 2024