American Airlines would consider new JetBlue venture if it wins appeal

By David Shepardson WASHINGTON (Reuters) – American Airlines told an appeals court Monday would consider a new arrangement with JetBlue Airways if it wins a ruling reversing a May 2023 decision requiring it to end an alliance. U.S. District Judge Leo Sorokin ruled in the airlines’ “Northeast Alliance” (NEA) that allowed the two carriers to coordinate flights and pool revenue violated antitrust law. Sorokin said American and JetBlue cannot enter into any agreement that provides … Read more…

Hedge funds ditch shares as bullish bets hurt performance, says Morgan Stanley

By Carolina Mandl NEW YORK (Reuters) – Global hedge funds dumped equities last week, in a painful week for their portfolios as the U.S. main indexes fell and hit their long bets, Morgan Stanley said in a note. The bank described last week as “ultimately one of the more challenging we have seen in recent months for the average L/S fund,” or long/short fund, based on what they saw in their clients’ portfolio. The pain … Read more…

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AMD launches new AI chips to take on leader Nvidia

By Arsheeya Bajwa TAIPEI (Reuters) – Advanced Micro Devices unveiled its latest artificial intelligence processors on Monday and detailed its plan to develop AI chips over the next two years in a bid to challenge industry leader Nvidia. At the Computex technology trade show in Taipei, AMD CEO Lisa Su introduced the MI325X accelerator, which is set to be made available in the fourth quarter of 2024. The race to develop generative artificial intelligence programs … Read more…

Skydance awaits word on its enhanced bid for Paramount

By Dawn Chmielewski (Reuters) – Skydance Media on Monday was awaiting a response to its enhanced bid for entertainment conglomerate Paramount Global, in which it offered to buy nearly half of the nonvoting Paramount shares at $15 each, according to a source familiar with the matter. CNBC reported a deal could be announced in the coming days, though another knowledgeable person said no decision has been reached. Both sources spoke on condition of anonymity. “We … Read more…

Dell shares slump as heavy AI investments expected to dent margin

(Reuters) – Dell Technologies shares tumbled about 14% in premarket trading on Friday, as the PC and server maker expects sizeable AI investments to dent its quarterly profit. Dell is on track to lose more than $17 billion in market value, if premarket losses hold. The stock has more than doubled this year. Companies, including Dell, have been investing heavily in pricey hardware to build-out advanced servers with the ability to process complex artificial intelligence … Read more…

Investors flock to Aramco share sale that could raise $13 billion

By Yousef Saba, Hadeel Al Sayegh and Maha El Dahan DUBAI (Reuters) -Saudi Arabia’s sale of shares in oil giant Aramco drew more demand than the stock on offer within hours of kicking off on Sunday, a landmark deal that could raise up to $13.1 billion in a major test of international appetite for the kingdom’s assets. The banks on the deal will take institutional orders through Thursday and will price the shares the following … Read more…

Donald Trump joins the TikTok video platform he once sought to ban

(Reuters) – Republican presidential candidate Donald Trump has joined TikTok, the short video social media platform that is owned by China-based tech giant ByteDance and that he tried to ban as president, ahead of the U.S. elections in November. Politico, which first reported the news, said he posted a launch video on his account on Saturday night. The video showed Trump greeting fans at an Ultimate Fighting Championship fight in Newark, New Jersey. The account, … Read more…

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Trend Micro taps Nvidia software tools for AI cybersecurity offering

By Stephen Nellis (Reuters) – Trend Micro on Sunday said it is working with Nvidia to create new cybersecurity tools that use artificial intelligence and are designed to protect the data centers where AI work happens. The tools, which Trend Micro planned to show at the Computex conference in Taiwan beginning on Sunday, will be capable of running on Nvidia’s chips and are designed to detect intruders and make sure that data is only seen … Read more…

Boeing’s Starliner capsule set for launch of first crewed space flight

By Joey Roulette and Steve Gorman CAPE CANAVERAL, Florida (Reuters) – Boeing’s new Starliner astronaut capsule is poised for launch on Saturday in a much-delayed first crewed test flight, a milestone in the beleaguered aerospace giant’s aim to compete with Elon Musk’s SpaceX in the astronaut launch business. The CST-100 Starliner with two astronauts aboard is due for liftoff at 12:25 p.m. ET (1625 GMT) from NASA’s Kennedy Space Center in Florida, strapped to an … Read more…

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Fed seen more likely to cut rates in Sept after PCE data

(Reuters) – The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed’s 2% goal last month and spending softened, traders expect. After the data, traders priced in about a 53% chance of a rate cut in September, versus about 49% before the report. The report showed the core personal consumption expenditures price index, which the … Read more…

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