Business

Lam Research focused on adding AI to chipmaking tools as it eyes US expansion, CEO says

Thursday, May 21 by SRN News

By Stephen Nellis FREMONT, California, May 21 (Reuters) - Lam Research is focused on adding sensing and AI capabilities to its semiconductor manufacturing tools to make them more productive as it plans expanded operations in Arizona and California, its chief executive told Reuters on Thursday. Shares... Read More.

China oil import cut, higher US exports wrongfoot market bulls

Thursday, May 21 by SRN News

By Robert Harvey, Siyi Liu and Georgina McCartney LONDON, May 21 (Reuters) - As prices for physical crude oil hit all-time highs of over $160 per barrel last month, analysts and traders alike rushed to predict a market Armageddon if the U.S.-Iran war dragged on... Read More.

Brunt Workwear explores full sale or stake sale at over $1 billion, sources say

Thursday, May 21 by SRN News

By Abigail Summerville NEW YORK, May 21 (Reuters) - Brunt Workwear, a work boot and apparel brand, is exploring options including a full sale or a strategic investment that could value the private company at over $1 billion, according to sources familiar with the matter. The... Read More.

Exclusive-Starbucks scraps AI inventory tool across North America

Thursday, May 21 by SRN News

By Waylon Cunningham NEW YORK, May 21 - Starbucks terminated a worker-facing AI program for automating inventory counts this week, nine months after deploying it across its North American stores, according to an internal newsletter reviewed by Reuters and two people with direct knowledge of... Read More.

JPMorgan rolls out AI tools in investment banking globally, senior banker says

Thursday, May 21 by SRN News

By Samuel Shen and Selena Li SHANGHAI/HONG KONG, May 21 (Reuters) - JPMorgan is implementing AI tools across its investment banking business globally, its Asia investment banking head said on Thursday, among the first in the sector moving to adopt the technology widely. Global banks... Read More.

Fed’s Barkin: Policy in good place to respond to ongoing shocks

Thursday, May 21 by SRN News

By Howard Schneider RALEIGH, North Carolina, May 21 (Reuters) - How businesses and consumers respond to ongoing economic shocks will determine if the U.S. Federal Reserve can "look through" current high inflation or needs to consider raising interest rates, Richmond Fed President Thomas Barkin said... Read More.

Analysis-US Treasuries selloff exacerbated as mortgage investors hedge against rising yields

Thursday, May 21 by SRN News

By Gertrude Chavez-Dreyfuss NEW YORK, May 21 (Reuters) - Surging U.S. Treasury yields have prompted mortgage investors to hedge the loans in their portfolios by selling government debt, a shift that probably exacerbated the bond selloff this week and added to the biggest rate spike... Read More.

Devon snaps up prime Delaware Basin acreage for $2.6 billion after Coterra merger

Thursday, May 21 by SRN News

May 21 (Reuters) - Shale producer Devon Energy on Thursday said it has acquired 16,300 net undeveloped acres in the core of the Delaware Basin in New Mexico for about $2.6 billion through a federal lease, strengthening its position in the top U.S. shale... Read More.

Average US long-term mortgage rate climbs to 6.51%, highest level in nearly nine months

Thursday, May 21 by SRN News

The average long-term U.S. mortgage rate climbed this week to its highest level in nearly nine months, driving up borrowing costs for homebuyers during what's traditionally the housing market's busiest time of the year. The benchmark 30-year fixed rate mortgage rate rose to 6.51% from... Read More.

Birkenstock shares jump after $250 million buyback plan

Thursday, May 21 by SRN News

May 21 (Reuters) - Shares of Birkenstock surged nearly 17% on Thursday after the German sandal maker said it would buy back $250 million of its stock through an accelerated share repurchase agreement, following a recent selloff. The move comes days after a sharp decline... Read More.

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Current Weather

Lam Research focused on adding AI to chipmaking tools as it eyes US expansion, CEO says

China oil import cut, higher US exports wrongfoot market bulls

Brunt Workwear explores full sale or stake sale at over $1 billion, sources say

Exclusive-Starbucks scraps AI inventory tool across North America

JPMorgan rolls out AI tools in investment banking globally, senior banker says

Fed’s Barkin: Policy in good place to respond to ongoing shocks

Analysis-US Treasuries selloff exacerbated as mortgage investors hedge against rising yields

Devon snaps up prime Delaware Basin acreage for $2.6 billion after Coterra merger

Average US long-term mortgage rate climbs to 6.51%, highest level in nearly nine months

Birkenstock shares jump after $250 million buyback plan

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