(Reuters) - Israel-based contract chipmaker Tower Semiconductor reported a 7% decline in first-quarter revenue on Thursday reflecting muted demand from the industrial and automotive sectors.
Over the past few quarters, semiconductor firms are dealing with a supply glut as they focus on clearing excessive inventory mainly in the automotive industry, hurting companies like Tower which makes analogue, mixed-signal chips and sensor technologies.
... (continue reading...)By Svea Herbst-Bayliss
(Reuters) -Activist hedge fund Ancora Holdings has secured enough support from Norfolk Southern shareholders to win some seats on the U.S. railway operator's board of directors, people familiar with the matter said on Thursday.
Investor votes are still being counted ahead of Norfolk Southern's annual meeting of shareholders on Thursday, and the final number of board seats that Ancora will get has not yet been... (continue reading...)
LONDON (Reuters) - The Bank of England took another step towards lowering interest rates on Thursday, as a second official backed a cut and Governor Andrew Bailey said he was "optimistic that things are moving in the right direction".
Below are comments from a news conference with BoE policymakers:
BAILEY ON CUTTING BANK RATE BEYOND MARKET EXPECTATIONS
"It's likely that we will need to cut bank rates over the coming quarters... (continue reading...)
(Reuters) - Pot firm Trulieve Cannabis posted a narrower first-quarter loss on Thursday, driven by higher sales and robust demand.
The Florida-based company's net loss attributable to shareholders narrowed to $23.1 million in the quarter that ended March 31, down from $64.1 million a year earlier.
WHY IT'S IMPORTANT
Trulieve has been expanding its presence across the U.S. with plans to open 25 new stores in 2024 as it hopes... (continue reading...)
(Reuters) - Here are some milestones in Israel's ties with the United States, now strained by Israeli government plans for a major assault on Rafah in southern Gaza and a warning by President Joe Biden that U.S. weapons sales will be withheld if it goes ahead:
1948
President Harry Truman becomes the first world leader to recognize the newly-established Israel.
1956
Furious with Israel's capture of the Sinai... (continue reading...)
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