Reuters

(Reuters) - The dollar tumbled against the yen late Wednesday afternoon, recoiling further from 34-year highs two days after traders said Japanese authorities were buying yen to support their currency, which had fallen 11% this year.

Dollar/yen stood at 153.30, down 2.85% and below the 154.40 low seen Monday after it drew back from 160.245.

Traders cited yen-buying by Japanese authorities as a trigger for Monday's nosedive, but Japan's... (continue reading...)

(Reuters) - First Solar reported higher first-quarter profit on Wednesday compared to the same period last year, helped by resilient demand for solar energy.

The company reported a net profit of $236.6 million, or $2.20 per share, for the three months ended March 31, compared to $42.5 million, or 40 cents per share, in the same period last year.

Analysts expected an average of $1.99 per share, according to LSEG data.

The... (continue reading...)

By Dietrich Knauth

NEW YORK (Reuters) - Cable provider Comcast stopped broadcasting Bally Sports channels on Wednesday, taking some MLB games off the air and imperiling the bankruptcy restructuring of the sports channels' operating company.

Diamond Sports, a Sinclair subsidiary that broadcasts nearly half of all MLB, NHL and NBA games, has said that its bankruptcy restructuring depends on renewed deals with three major cable partners,... (continue reading...)

(Reuters) - Freshworks said on Wednesday that Dennis Woodside will take over as CEO of the CRM software maker, and founder Girish Mathrubootham will be the firm's executive chairman.

Shares of the San Mateo, California-based company fell about 21% in extended trading.

Woodside joined Freshworks as president in 2022, with a prior professional record including roles as president at Impossible Foods, Dropbox COO and Motorola Mobility's CEO.

(Reuters) - Industrial software maker PTC forecast quarterly revenue below estimates while also slightly tightening full year guidance on Wednesday, signaling continued weakness in demand for its industrial design and testing software as companies keep a tight leash on budgets.

Businesses have dialed back on software budgets in the wake of high-interest rates and an uncertain economy, weighing on demand for companies such as PTC, which provides... (continue reading...)