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By Nicholas P. Brown and Ananya Mariam Rajesh (Reuters) – Nike is expected to post its steepest revenue decline in nearly five years in its quarterly results on Thursday, as its new products failed to open the wallets of Americans reluctant to snap up non-essential items like sporting goods and clothing. Downloads of Nike mobile apps for the quarter were down 35% from a year earlier, according to market intelligence firm Sensor Tower. Foot traffic … Read more…

By Kalea Hall and Abhirup Roy (Reuters) – General Motors will use artificial intelligence chips and software from Nvidia to develop autonomous vehicle technology for its vehicles and improve workflow at its factories, the companies said on Tuesday. Traditional automakers have struggled to commercialize autonomous technology that has been more challenging and expensive than expected but has emerged as a way to boost sales and rake in subscription revenue from motorists. The companies plan to … Read more…

(Reuters) – Widely used prescription medicines could get caught up in the Trump administration’s tariff trade wars and EU retaliation. The following is a list of major prescription drugs whose ingredients or components are imported into the United States from the European Union, based on U.S. Food and Drug Administration import data from 2023 and 2024. Company Used to Country Comments Brand Treat of Import Comp Name any (chemic al name) AbbV Rinvoq rheumatoid Germany, … Read more…

By Stephen Nellis SAN FRANCISCO (Reuters) – Adobe on Tuesday said it is rolling out artificial intelligence “agents” that brands can use to help consumers navigate their websites. Adobe is known for consumer apps such as Photoshop but also sells a suite of business-to-business software tools used in online marketing, which made up a quarter of Adobe’s $21.5 billion in sales in its most recent fiscal year. The new tools use AI technology to help … Read more…

(Reuters) – Alphabet’s Google on Monday expanded its partnership with Reddit amid concerns that the social media platform’s user growth relies heavily on traffic from Google Search. Redburn Atlantic analyst James Cordwell initiated coverage on Reddit’s stock with a “sell” rating, saying the company’s growth in daily active users (DAUs) — a key metric in determining traffic on a web-based platform — is vulnerable to algorithm changes by Google. Google’s algorithm change has already started … Read more…

(Reuters) – Alphabet’s Google is preparing to partner with Taiwan’s MediaTek on the next version of its AI chips, Tensor Processing Units, that will be made next year, the Information reported on Monday, citing people involved in the project. However, Google has not cut ties with Broadcom, the chip designer it has worked with exclusively on the AI chips over the past several years, the report said, citing an employee at the San Jose-based company. … Read more…