General News

Chinese companies hit with US trade restrictions over spy balloon incident May 9, 2024 11:51AM

By Alexandra Alper and Karen Freifeld

WASHINGTON (Reuters) -The Biden administration added 37 Chinese entities to a trade restriction list on Thursday, including some for allegedly supporting the spy balloon that flew over the United States last year, heightening tensions between Beijing and Washington.

The Commerce Department also said it was adding some units of China Electronics Technology Group to the list for allegedly trying to obtain... (continue reading...)

Midday movers: Roblox, Airbnb fall; Trade Desk, AppLovin and Bumble rise May 9, 2024 11:31AM (Updated - May 9, 2024 11:31 AM EDT)

Investing.com -- Main U.S. indexes rose Thursday amid signs of cooling in the labor market following a rise in weekly jobless claims, boosting hopes the Federal Reserve will lower interest rates.

Here are some of the biggest U.S. stock movers today:

• Arm Holdings (NASDAQ: ARM) ADRs slumped 2% after the chip designer delivered annual revenue guidance that fell short of estimates despite a wave of enterprise spending on artificial... (continue reading...)

Bank of America expects new Selic cut of 25bps in June May 9, 2024 10:54AM

Investing.com - After the decision of the Monetary Policy Committee (Copom) of the Central Bank to cut Brazil's basic interest rate (Selic) by 0.25 percentage points, as expected, but in a divided decision, Bank of America (BofA) indicated it expects a further decrease of the same magnitude in June, followed by a pause until January 2025. In a note released to clients and the market on Thursday, May 9th, the bank projected Selic at 10.25% by the end of 2024 and 9.0% by... (continue reading...)

Arm shares fall as tepid forecast takes shine off AI optimism May 9, 2024 08:24AM

(Reuters) -Shares of Arm Holdings fell 6% on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months.

The slide was set to wipe out more than $8 billion in market value at the current level of $99.51.

Bets that Arm will benefit from a surge in AI computing have nearly doubled the chipmaker's share price since its initial public offer last... (continue reading...)

Trump vows to target EVs, LNG exports in meeting with oil CEOs -report May 9, 2024 08:21AM

WASHINGTON (Reuters) -Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration's environmental rules and policies at a meeting with top U.S. oil executives, where he also asked them to raise $1 billion for his presidential campaign, the Washington Post reported on Thursday.

The Post, citing unidentified sources familiar with the meeting last month in Florida, said Trump promised to end President Joe Biden's... (continue reading...)