Business

(Reuters) -Dell Technologies beat Wall Street estimates for second-quarter revenue and profit on Thursday, driven by strong demand for its AI-powered servers amid a recovering personal computer market. Shares of the Round Rock, Texas-based company rose 3.3% in extended trading. Dell has capitalized on increasing demand for its AI servers, which are powered by Nvidia’s graphics processors. These servers are designed to meet the growing computing needs of AI systems, including training language models. Revenue … Read more…

By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve announced on Wednesday it had set the latest capital cushions for large banks following June’s annual stress tests, but agreed to shrink Goldman Sachs’ burden. The new levels, effective Oct. 1, largely mirror the ones the Fed first identified as part of the annual health check of large banks. The central bank, however, added in its statement that it had lowered the extra capital level … Read more…

By David Ljunggren OTTAWA (Reuters) – Before Canada said this week it was imposing a 100% duty on Chinese-made electric vehicles, Tesla approached Ottawa and asked for a lower tariff on its autos, a Canadian government source said on Wednesday. Canada, following the lead of the United States, said on Monday it was setting the tariff for all Chinese-made vehicles sold in the country because of what it called China’s intentional, state-directed policy of over-capacity. … Read more…

By Max A. Cherney SAN FRANCISCO (Reuters) – Cerebras Systems launched on Tuesday a tool for AI developers that allows them to access the startup’s outsized chips to run applications, offering what it says is a much cheaper option than industry-standard Nvidia processors. Access to Nvidia graphics processing units (GPUs) – often via a cloud computing provider – to train and deploy large artificial intelligence models used for applications such as OpenAI’s ChatGPT can be … Read more…

By Daniel Wiessner (Reuters) – U.S. labor board prosecutors have determined that a union’s claims that Chipotle Mexican Grill illegally refused to give raises to workers at a Michigan restaurant after they became the first and only employees of the fast-casual chain to unionize have merit. The National Labor Relations Board’s general counsel will issue a formal complaint against Chipotle unless it settles the claims by the International Brotherhood of Teamsters, NLRB spokeswoman Kayla Blado … Read more…

NEW YORK (Reuters) – The Bank of New York Mellon has agreed to pay $5 million to settle U.S. Commodity Futures Trading Commission charges for repeatedly failing to correctly report millions of swap transactions, violating a previous order, the regulator said in a statement on Monday. BNY repeatedly failed to correctly report at least 5 million swap transactions and failed to properly supervise its swap dealer business from about 2018 through 20123, the CFTC said … Read more…

By Supantha Mukherjee STOCKHOLM (Reuters) -Apple will change how users choose browser options in the European Union, add a dedicated section for changing default apps, and make more apps deletable, the company said on Thursday. The iPhone maker came under pressure from regulators to make changes after the EU’s sweeping Digital Markets Act took effect on March 7, forcing it to offer mobile users the ability to select from a list of available web browsers … Read more…

(Reuters) -Eli Lilly’s treatment for early Alzheimer’s is expected to be blocked for use by Britain’s National Health Service (NHS), the Telegraph reported on Friday. The drug donanemab would be rejected by the National Institute for Health and Care Excellence(NICE), which decides what drugs are available on the NHS, the newspaper reported citing insiders. The NHS, Eli Lilly and NICE did not immediately respond to a Reuters request for comment. NICE is also unlikely to … Read more…