DETROIT (Reuters) - The head of General Motors Co's Cadillac luxury division said on Thursday the brand will shrink its lineup of sedans and expand its offerings of sport utility vehicles and hybrid and electric vehicles in response to market shifts. Expanding Cadillac's global sales is central to G...
(Reuters) - Intel Corp, the world's largest chipmaker, reported a 9.1 percent rise in quarterly revenue, helped by strength in its data center and personal computer businesses. The company's net income rose to $2.81 billion, or 58 cents per share, in the second quarter ended July 1 from $1.33 billio...
(Reuters) - Electronic Arts Inc forecast revenue slightly below analysts' estimates for the current quarter, when the video-game publisher is expected to launch the latest franchises of its popular sports titles such as "Madden NFL" and "FIFA". The company expects second-quarter adjusted revenue of ...
(Reuters) - Apple Inc (AAPL.O) said Thursday that it will discontinue the iPod Shuffle and iPod Nano, the last two music players in the company's lineup that cannot play songs from Apple Music, its streaming service that competes with Spotify and Pandora Media Inc (P.N). The two devices are the dire...
(Reuters) - Amazon.com Inc Chief Executive Jeff Bezos has unseated fellow tech billionaire Bill Gates as the richest person in the world, profiting from the e-commerce company's meteoric stock rise to reach a fortune of $90.6 billion, Forbes reported. Amazon shares jumped 1.6 percent at the start of...
WASHINGTON (Reuters) - An influential U.S. House Committee on Thursday approved a revised bipartisan bill on a 54-0 vote that would speed the deployment of self-driving cars without human controls and bar states from blocking autonomous vehicles. The bill would allow automakers to obtain exemptions ...
(Reuters) - Shares of Facebook Inc (FB.O) touched a record high on Thursday on the back of overwhelmingly positive quarterly results, adding more than $27 billion to its market value. The world's biggest online social network posted a 71 percent surge in second-quarter profit and a 50 percent jump i...
LAS VEGAS (Reuters) - Hackers believed to be working for the Iranian government have impersonated a young female photographer on social media for more than a year, luring men working in industries strategically important to Tehran's regional adversaries, according to research published Thursday. The...
(Reuters) - Verizon Communications Inc reported quarterly revenue that topped expectations on Thursday as the No. 1 U.S. wireless carrier attracted more subscribers with its unlimited data plan. Shares jumped 3.6 percent to $46.01 in premarket trading. In the quarter, Verizon added 614,000 subscribe...
NEW YORK (Reuters) - Financial technology startup TransferWise will allow users around the world to send money internationally through its service using Apple Pay, in a bid to make transfers easier and more secure. The London-based money transfer company said on Thursday that it was joining with App...
CHICAGO (Reuters) - Walmart.com, trailing Amazon.com Inc in the number of goods for sale on its website, is recruiting vendors in China and other countries to boost its online offerings in a pivot away from Wal-Mart's Made-in-America campaign. While there is a financial incentive behind the move, Wa...
KUALA LUMPUR (Reuters) - Malaysia's parliament on Thursday passed two bills that will legalize e-hailing services, as ride-hailing firms Grab and Uber Technologies Inc race to expand in the region. Grab expects to raise $2.5 billion from investors in a bid to extend its lead over Uber in the region,...
DETROIT (Reuters) - United Parcel Service Inc on Thursday reported a higher quarterly net profit due largely to a jump in ecommerce deliveries in its U.S. domestic package service. The Atlanta-based company posted second-quarter net income of $1.4 billion or $1.58 per share, up nearly 8 percent from...
(Reuters) - Twitter Inc (TWTR.N) failed to add users on a monthly basis in the second quarter, compared with the first quarter, amid fierce competition from Facebook Inc (FB.O) and Snap Inc's (SNAP.N) fast-growing messaging app Snapchat. Twitter's shares fell 5 percent in premarket trading on Thursd...
NEW YORK (Reuters) - Callsign Inc, a startup that had developed technology to help users access websites more securely, has raised $35 million from investors including Accel, PTB Ventures and NightDragon Security, the firm of former McAfee chief executive David DeWalt. The company, whose core team i...
SEOUL (Reuters) - LG Electronics Inc on Thursday said continued losses in its mobile unit limited growth in second-quarter profit to 13.6 percent, as the firm prepares to release a handset in the third quarter that it hopes will turn the tide. The South Korean firm said operating profit reached 664 ...
HELSINKI (Reuters) - Finnish network equipment maker Nokia reported larger than expected quarterly profits on Thursday thanks to a patent deal with Apple along with improving profitability at its network business but warned its key market would slow. Second-quarter group earnings before interest and...
SAN FRANCISCO (Reuters) - Russian intelligence agents attempted to spy on President Emmanuel Macron's election campaign earlier this year by creating phony Facebook personas, according to a U.S. congressman and two other people briefed on the effort. About two dozen Facebook accounts were created to...
HONG KONG (Reuters) - Co-working space startup WeWork Cos revealed plans on Thursday for a Chinese unit with the backing of China's Hony Capital and Japan's SoftBank Group Corp, as it seeks to benefit from booming demand for shared office space in the world's second-largest economy. SoftBank and Hon...
HONG KONG (Reuters) - Chinese smartphone maker Coolpad Group, part of the cash-strapped LeEco technology conglomerate, said on Thursday a bank has sued a subsidiary, demanding early repayment of an 80 million yuan ($11.9 million) loan due Aug. 15. LeEco, a smart cars to online content conglomerate t...
MEXICO CITY (Reuters) - America Movil, the telecommunications company of Mexican tycoon Carlos Slim, and Movistar, the Colombian unit of Spain's Telefonica SA, may not have to pay any compensation while legal action in Colombia is under review, a government minister said on Wednesday. Shares of Amer...
SINGAPORE (Reuters) - Amazon.com Inc launched its two-hour delivery service in Singapore on Thursday, marking the e-commerce giant's push into populous Southeast Asia and its first head-on battle with its Chinese rival, Alibaba Group Holding. While Amazon does deliver to Singapore, higher-end servic...
SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS) on Thursday said it expected the memory chip boom to continue in the current quarter, after reporting a record operating profit for the three months through June. The world's biggest maker of memory chips, smartphones and television sets is wi...
(Reuters) - PayPal Holdings Inc reported a better-than-expected quarterly profit as the payment processor's growing strategic partnerships helped boost payment volumes. The company's shares were up 2.4 percent in trading after the bell on Wednesday. Net income rose 27.2 percent to $411 million, or 3...
(Reuters) - FTSE Russell said on Wednesday it plans to exclude Snap Inc (SNAP.N) from its widely followed stock indexes because Snap, the owner of messaging app Snapchat, has an unusual share structure that denies voting rights to investors. In a document emailed to Reuters, FTSE Russell said it pla...
SAN FRANCISCO (Reuters) - Uber's former chief executive, Travis Kalanick, has hired the former top federal prosecutor in San Francisco to represent him ahead of a deposition in a high-profile trade secrets case against Alphabet's Waymo self-driving car unit, the attorney's firm said on Wednesday. Me...
(Reuters) - Facebook Inc crushed quarterly profit and revenue estimates on Wednesday as the social media giant's push into video ads helped bolster its fast-growing mobile ad business. The company's shares were up 1.4 percent at $168 after the bell. Through Wednesday's close, the stock had climbed n...
SAN FRANCISCO (Reuters) - Shares in iRobot Corp jumped 23 percent to a record high on Wednesday after the Roomba robotic vacuum maker posted better-than-expected quarterly results and said it was buying its largest European distributor. The stock surged by $21.27 to $109.03 and was on track for its ...
(Reuters) - Electronics manufacturer Foxconn will announce plans to build a multi-billion dollar flat panel screen plant in Wisconsin at a White House event later on Wednesday, a source briefed on the matter said. A White House official said President Donald Trump is hosting an event at 5 p.m. EDT w...
LAS VEGAS (Reuters) - Facebook Inc (FB.O) will provide initial funding for a nonprofit organization that aims to help protect political parties, voting systems and information providers from hackers and propaganda attacks, the world's largest social network said on Wednesday. The initiative, dubbed ...
