Business

(Reuters) -Carmaker Stellantis will cut up to 500 jobs through voluntary exits at its Melfi assembly plant in southern Italy, which employs around 5,000 people, the Fiom-Cgil union said on Wednesday in a statement. This follows a recent announcement for a similar voluntary redundancy plan for a total of 350 jobs at two other facilities in Italy, in Pomigliano and Pratola Serra. “It seems that a real plan to divest from Italy is taking shape. … Read more…

By Fabian Cambero SANTIAGO (Reuters) -Amazon’s cloud computing division will invest $4 billion to build its first data centers and other cloud infrastructure in Chile, the company’s head of South Latin America told Reuters. Amazon Web Services (AWS) expects the cloud region, its third in Latin America after Brazil and Mexico, to be operational by the second half of 2026. In an interview in Santiago on Tuesday, local head of AWS Juan Pablo Estevez said … Read more…

By Stephen Nellis SAN FRANCISCO (Reuters) -Microsoft on Tuesday said it will release a new laptop and tablet with chips from Qualcomm at lower prices than before, aiming to get new AI features to a broader set of customers. The newest Surface 13-inch laptop and Surface Pro 12-inch tablet will go on sale on May 20, with the laptop starting at $899 and the tablet starting at $799. Both will feature Qualcomm’s Snapdragon X Plus … Read more…

NEW YORK (Reuters) – Perceptions of oversupply among oil market participants from increasing OPEC+ output and uncertainty about the economic impact of tariffs have raised short-term oil price volatility, the U.S. Energy Information Administration said on Tuesday. Oil prices hit a four-year low on Monday after the Organization of the Petroleum Exporting Countries and its allies, known together as OPEC+, agreed to another accelerated oil output hike for June. Reuters later reported the group is … Read more…

(Reuters) -Rivian said on Monday that it will invest $120 million to bring its key parts suppliers near its plant in Illinois, as the electric vehicle-maker seeks to lower the impact of U.S. President Donald Trump’s tariffs on Mexico and Canada. The supplier park near Rivian’s facility at Normal, Illinois will also reduce shipping, logistics and warehousing costs, while adding hundreds of jobs in the next two years, including about 100 directly by the company, … Read more…

By Sheila Dang and Shadia Nasralla HOUSTON/LONDON (Reuters) -Big Oil’s first-quarter earnings have shown a clear split in how companies are positioned to weather the downturn sparked by a slump in oil prices to a four-year low in April. Investors were focused on whether companies would cut share repurchases, since lower crude prices would leave them with less cash to fund the programs. Buybacks and dividends are key to investor interest in the oil industry. … Read more…

By Jonathan Stempel OMAHA, Nebraska (Reuters) -Warren Buffett on Saturday gave a full-throated endorsement to the five Japanese trading houses in which his conglomerate Berkshire Hathaway has invested. Buffett spoke at Berkshire’s annual shareholder meeting in Omaha, Nebraska, 1-1/2 months after Berkshire said it raised its stakes in Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo to as high as 9.8%. Berkshire’s investments in the companies had totaled $23.5 billion at the end of 2024. “In the … Read more…

(Reuters) – Nvidia has told some of its biggest Chinese customers that it is tweaking the design of its artificial intelligence chips so they can be sold to Chinese businesses without clashing with U.S. export rules, The Information reported on Friday. The chip giant has spoken with customers, including Alibaba Group, TikTok-parent ByteDance and Tencent Holdings, the report said, citing three people involved in the conversations. Nvidia CEO Jensen Huang alerted customers about his plans … Read more…

(Reuters) -Apple is partnering with Amazon-backed startup Anthropic on a new “vibe-coding” software platform that will use artificial intelligence to write, edit, and test code on behalf of programmers, Bloomberg News reported, citing people with knowledge of the matter. “Vibe coding” refers to a programming method where AI agents generate code, a concept gaining popularity in the AI landscape. The new AI coding system is an updated version of Apple’s programming software, Xcode, and will … Read more…

(Reuters) -Microsoft is getting ready to host Elon Musk’s Grok AI model, The Verge reported on Thursday citing a source familiar with the plans. The tech giant has been in discussions with Musk’s AI startup xAI in recent weeks to host the Grok model and make it available to customers, as well as Microsoft’s own product teams through its Azure cloud service, the report said. Grok will be available on Azure AI Foundry, Microsoft’s platform for … Read more…