Biden aide raises possible increased deployments of U.S. strategic nuclear weapons

By Jonathan Landay WASHINGTON (Reuters) -The United States may reach a point in coming years where it will have to increase deployments of strategic nuclear weapons to deter growing threats from adversaries, a senior White House aide said on Friday. Pranay Vaddi, a top National Security Council official, made the statement in a speech to the Arms Control Association, as he outlined a “more competitive approach” to arms control by the Biden administration. Russian President … Read more…

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Tesla objects to $5.6 billion payout for lawyers who voided Musk’s pay

By Tom Hals WILMINGTON, Delaware (Reuters) – The legal team that voided Elon Musk’s record Tesla pay package deserves a tiny fraction of the $5.6 billion legal fee they requested because their lawsuit provided almost no benefit for the company, the electric automaker argued in court papers on Friday. Tesla said the legal team for Richard Tornetta, the shareholder whose lawsuit led to a January ruling voiding Musk’s $56 billion pay package, should be paid … Read more…

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Exclusive-IPOs of Walmart’s Flipkart, PhonePe could take couple of years, Walmart exec says

By Siddharth Cavale BENTONVILLE, Arkansas (Reuters) – Initial public offerings of Walmart’s Flipkart marketplace and PhonePe digital payments platform could take a couple of years, a Walmart executive said. “This is something we’re looking at over the next couple of years,” Walmart’s executive vice president for corporate affairs, Dan Bartlett, said on the sidelines of the company’s shareholder meeting near its Bentonville, Arkansas, headquarters, late on Thursday. Walmart may put an initial public offering of … Read more…

Spotlight On Labor – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) Even though the market staggered at the end of the month, and soared the last day, the indices were positive for the finish. A 575 point surge on Friday by the Dow Jones Industrial Average gave investors and traders a much needed ‘shot-in-arm’. As May finished, all three indexes were up, with the Dow Jones up 2.3%, the S&P 500 up 4.8% and the blazing Nasdaq Composite leading the … Read more…

Meta’s WhatsApp launches new AI tools for businesses

By Dani Morera and Andre Romani SAO PAULO (Reuters) -Meta launched its first AI-driven ad targeting program for businesses on WhatsApp, according to a press release Thursday, as it tries to wring revenue out of the popular chat service, the company announced at a conference in Brazil. CEO Mark Zuckerberg announced the new tools in a video which was exhibited during the event. The announcement marks a shift for WhatsApp, an encrypted messaging service that … Read more…

World stocks at record high after cautious ECB rate cut

By Marc Jones and Koh Gui Qing NEW YORK/LONDON (Reuters) -World stocks hit an all-time high and the euro rose on Thursday after the European Central Bank cut interest rates for the first time in nearly five years, but also signalled that further moves could take a while. ECB policymakers duly delivered their widely-flagged quarter-point cut to 3.75%, but markets were left feeling a little deflated after the bank also said it now did not … Read more…

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GameStop surges as ‘Roaring Kitty’ posts upcoming livestream

(Reuters) – Shares of GameStop surged over 30% on Thursday after the online stock influencer known as “Roaring Kitty” posted on YouTube that he would hold a livestream on Friday. Thursday’s surge was the latest in a bout of volatile trading in the struggling videogame seller’s shares that kicked off last month after the influencer, whose real name is Keith Gill, returned to X.com after a three-year hiatus. The “Roaring Kitty” channel on YouTube on … Read more…

$1.3 billion UK lawsuit accuses Amazon of misusing small sellers’ data

LONDON (Reuters) – Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused their data to boost its own market share and profits. The British Independent Retailers Association (BIRA), an umbrella body grouping numerous small traders, was due to file the lawsuit on behalf of around 35,000 retailers at the Competition Appeal Tribunal (CAT) in London on Thursday, its lawyers said. The suit alleges that … Read more…

NBA nears rights deal worth $76 billion with NBC, ESPN and Amazon, WSJ reports

(Reuters) -The National Basketball Association is closing in on media rights deals with Comcast-owned NBC, Disney’s ESPN, and Amazon.com that would generate about $76 billion in media revenue over 11 years, the Wall Street Journal reported on Wednesday. Rights to the widely watched professional basketball league are a prized possession for media companies. Sports content continues to attract a reliable and loyal audience at a time when traditional TV businesses are losing millions of subscribers … Read more…

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Nvidia’s stock market value hits $3 trillion for first time

(Reuters) – Nvidia’s stock market value hit $3 trillion for the first time on Wednesday as the chipmaker benefited from a race between Wall Street’s heavyweights to dominate AI technology. Shares of the maker of specialized AI chips were last up 4.75%. Nvidia shares touched an intra-day record high of $1,219.93, giving it a market capitalization of $3 trillion. (Reporting by Medha Singh in Bengaluru; Editing by Shilpi Majumdar and Leslie Adler)