By Shreyashi Sanyal and Sruthi Shankar (Reuters) -European stocks slipped on Wednesday, dented by healthcare stocks and concerns about the outlook for interest rates in the euro zone, although a strong earnings update from Zara owner Inditex boosted retailers and Spanish shares. The pan-European STOXX 600 index fell 0.2%, with Wall Street also struggling for […]
Factbox-Governments race to regulate AI tools
(Reuters) – Rapid advances in artificial intelligence (AI) such as Microsoft-backed OpenAI’s ChatGPT are complicating governments’ efforts to agree laws governing the use of the technology. Here are the latest steps national and international governing bodies are taking to regulate AI tools: AUSTRALIA * Seeking input on regulations The government is consulting Australia’s main science […]
Mexico unveils tax break plan for southern business corridor
MEXICO CITY (Reuters) – Mexico on Monday pitched a series of tax incentives aimed at luring companies into investing in a business corridor that President Andres Manuel Lopez Obrador is developing in a southern isthmus in hopes of competing with the Panama Canal. The finance ministry said companies that invest in the so-called Inter-Oceanic Corridor […]
Biden cheers debt ceiling ‘crisis averted’ from Oval Office
By Jeff Mason and Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden declared a “crisis averted” on Friday in his first address from the White House’s Oval Office, touting the passage of a bill to suspend the U.S. debt ceiling and avoid economic catastrophe. Biden used the moment to plead with Americans to bridge their […]
Lululemon shares surge as consumers snap up pricier athletic wear
By Savyata Mishra (Reuters) – Shares of Lululemon Athletica Inc soared 15% in early trade on Friday, after the premium apparel retailer defied investor worries with a full-year outlook lift amid little pullback from consumers and a sharp rebound in China sales. The rosy outlook comes in contrast to the general trend of U.S. retailers […]
FedEx reaches tentative deal with pilot union
(Reuters) -FedEx Corp has reached a tentative agreement with pilots of its air delivery unit who had voted in favor of a strike earlier this month seeking higher pay, the package delivery company said in a statement on Tuesday. The Air Line Pilots Association (ALPA) had voted “overwhelmingly” in favor of a strike if needed, […]
Nvidia briefly joins $1 trillion valuation club
By Akash Sriram and Samrhitha A (Reuters) – Nvidia Corp briefly joined an elite club of U.S. companies sporting a $1 trillion market value on Tuesday, as investors piled into the chipmaker that has quickly become one of the biggest winners of the AI boom. The stock’s value has tripled in less than eight months, […]
New York City commission votes to halt deposits at Capital One
NEW YORK (Reuters) – The New York City Banking Commission voted to halt deposits into the city’s bank accounts at Capital One and KeyBank after the lenders failed to submit plans on their efforts to root out discrimination. City Comptroller Brad Lander joined Mayor Eric Adams and the department of finance to announce the city […]
Newsletter
European stocks close lower, Inditex shines on strong earnings
June 7, 2023
By Shreyashi Sanyal and Sruthi Shankar (Reuters) -European stocks slipped on Wednesday, dented by healthcare stocks and concerns about the outlook for interest rates in the euro zone, although a strong earnings update from Zara owner Inditex boosted retailers and Spanish shares. The pan-European STOXX 600 index fell 0.2%, with Wall Street also struggling for […]
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