General News

U.S. Twenty-year Bonds Draw 4.635%; Allotted At High 30.20% - Bloomberg May 22, 2024 01:03PM

U.S. Twenty-year Bonds Draw 4.635%; Allotted At High 30.20% - Bloomberg

US lawmakers advance bill to make it easier to curb exports of AI models May 22, 2024 01:00PM

WASHINGTON (Reuters) - The House Foreign Affairs Committee on Wednesday voted overwhelmingly to advance a bill that would make it easier for the Biden administration to restrict the export of artificial intelligence systems, citing concerns China could exploit them to bolster its military capabilities.

The bill, sponsored by House Republicans Michael McCaul and John Molenaar and Democrats Raja Krishnamoorthi and Susan Wild, also would give the... (continue reading...)

Pfizer rolls out another cost-cutting program, sets $1.5 billion target by 2027 May 22, 2024 12:52PM

(Reuters) -U.S. drugmaker Pfizer launched a new multi-year program to reduce its expenses by about $1.5 billion by the end of 2027, adding on to a $4 billion cost cutting plan it announced last year.

The cost cuts are the latest move by the company to respond to slumping demand for its COVID-19 products after they powered it to report record revenues in 2021 and 2022.

Pfizer's shares were up 2.6% at $29.3 in afternoon trading.

... (continue reading...)

Petrobras says antitrust watchdog agreed to free company from asset sales May 22, 2024 12:44PM

SAO PAULO (Reuters) -Brazilian state-run oil firm Petrobras said on Wednesday the country's antitrust regulator Cade approved the new terms of an agreement that will free up the company from selling some of its oil refining and natural gas assets.

The new terms of the agreement, originally signed in 2019, have been approved by the regulator's board, Petrobras said in a securities filing.

The government of then-President Jair Bolsonaro had set... (continue reading...)

Midday movers: Target, Lululemon and ViaSat fall; TJX rises May 22, 2024 11:58AM (Updated - May 22, 2024 11:58 AM EDT)

Investing.com -- U.S. stock futures were mixed Wednesday, ahead of the release of the keenly-awaited minutes from the last Federal Reserve policy meeting and results from AI bellwether Nvidia.

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

• Target (NYSE: TGT) stock fell 7% after the retailer forecast current-quarter comparable sales and profit largely below expectations after weak discretionary spending dented its first-quarter... (continue reading...)