Business

Nvidia forecasts revenue above estimates, announces $80 billion share buyback

Wednesday, May 20 by SRN News

By Zaheer Kachwala, Stephen Nellis and Max A. Cherney May 20 (Reuters) - Nvidia forecast second-quarter revenue above Wall Street expectations on Wednesday and announced an $80 billion share repurchase program. Shares of the company ticked down 0.2% in extended trading. The world's most valuable company... Read More.

AT&T sues California in bid to stop offering traditional phone service

Wednesday, May 20 by SRN News

By David Shepardson WASHINGTON, May 20 (Reuters) - AT&T on Wednesday filed suit against California officials seeking a court order declaring it does not have to continue offering traditional copper wire phone service to new customers as it vowed to spend $19 billion on modern... Read More.

Nvidia Q1 results surpass Wall Street expectations thanks to massive AI chip demand

Wednesday, May 20 by SRN News

Artificial intelligence chipmaker Nvidia's quarterly results surpassed Wall Street's expectations once again, fueled by massive demand for its high-end AI chips. The company said Wednesday it earned $58.32 billion, or $2.39 per share, in the February-April period, up from $18.78 billion, or 76 cents... Read More.

NTSB: Flaw that led to engine flying off UPS plane grew unnoticed under relaxed inspection schedule

Wednesday, May 20 by SRN News

A UPS plane crash that killed 15 people last year might have been prevented if an original inspection schedule hadn't been relaxed, but mechanics didn't get a close look at the parts that should have kept an engine from flying off its wing because... Read More.

James Murdoch, media scion, strikes deal for New York Magazine and Vox

Wednesday, May 20 by SRN News

NEW YORK (AP) - Promising a commitment to "ambitious journalism and agenda-setting conversations," media scion James Murdoch has struck a deal with the Vox Media digital company to acquire New York magazine, the Vox Media Podcast Network and the Vox editorial brand. The deal with... Read More.

Sherritt agrees to sell stake in Cuba mining business to company linked to former Trump adviser

Wednesday, May 20 by SRN News

TORONTO (AP) - Canadian miner Sherritt International Corp. has signed a non-binding agreement with Gillon Capital LLC, a family office linked to a former adviser of U.S. President Donald Trump, that would allow Gillon to buy a majority stake in the company as it... Read More.

Fed proposes to establish limited payment accounts

Wednesday, May 20 by SRN News

By Pete Schroeder WASHINGTON, May 20 (Reuters) - The U.S. Federal Reserve proposed Wednesday adopting a new, more limited form of a payment account that would allow firms like fintechs the ability to move money across the Fed's payment rails without enjoying all the backstops... Read More.

Cargill locks out 1,700 workers at US beef plant in labor dispute

Wednesday, May 20 by SRN News

By Tom Polansek CHICAGO, May 20 (Reuters) - Cargill stopped paying about 1,700 employees at a beef plant in Fort Morgan, Colorado, on Wednesday in an escalating labor dispute, after suspending cattle slaughtering at the facility a month ago, the workers' union said. ... Read More.

Intuit boosts annual forecasts, to cut 17% of global staff

Wednesday, May 20 by SRN News

May 20 (Reuters) - TurboTax parent Intuit raised its annual revenue and profit forecasts on Wednesday and announced it would trim 17% of its workforce, sharpening its focus on artificial intelligence-powered financial software amid robust demand. The reduction of nearly 3,000 roles globally, reported exclusively... Read More.

As cocoa prices melt down, real chocolate is making a comeback

Wednesday, May 20 by SRN News

By May Angel, Alexander Marrow and Marcelo Teixeira LONDON/NEW YORK, May 20 (Reuters) - After a year of smaller bars, extra wafers and chocolate alternatives, at least one major chocolate maker is putting the cocoa back in - and others may follow suit - as... Read More.

Current Weather

AT&T sues California in bid to stop offering traditional phone service

Nvidia Q1 results surpass Wall Street expectations thanks to massive AI chip demand

NTSB: Flaw that led to engine flying off UPS plane grew unnoticed under relaxed inspection schedule

James Murdoch, media scion, strikes deal for New York Magazine and Vox

Sherritt agrees to sell stake in Cuba mining business to company linked to former Trump adviser

Fed proposes to establish limited payment accounts

Cargill locks out 1,700 workers at US beef plant in labor dispute

Intuit boosts annual forecasts, to cut 17% of global staff

As cocoa prices melt down, real chocolate is making a comeback

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