By Arathy Somasekhar HOUSTON (Reuters) -U.S. oil production growth will stall if prices stay near $60 per barrel, as fewer drilling sites are profitable at that level, the CEO of Diamondback Energy, one of the country’s top oil producers, said on Wednesday. “There’s only so much Tier 1 rock,” Kaes Van’t Hof said while speaking…
(Reuters) -Intel is in early talks to add AMD as a foundry customer, Semafor reported on Wednesday, citing people familiar with the matter. AMD did not immediately respond to a request for comment, and Intel declined to comment. Semafor did not report details of any possible deal. Reuters reported in April that AMD was evaluating…
(Reuters) -Honeywell said on Wednesday that it has divested all of its Bendix asbestos liabilities, as well as certain non-Bendix asbestos liabilities, to corporate liability acquisition platform Delticus. The company is streamlining operations, with a plan to split into three independently listed companies expected to be completed by next year. Honeywell inherited asbestos liabilities and…
By Milana Vinn and Elvira Pollina New York (Reuters) -Yahoo is in advanced talks to sell AOL to Italian technology company Bending Spoons for about $1.4 billion, four sources familiar with the matter said, as the Apollo Global Management-backed firm sheds one of the most recognizable names of the early internet era. The Milan-based app…
By Shashwat Chauhan and Johann M Cherian (Reuters) -U.S. corporate sectors that are sensitive to interest rates will be in focus as the Federal Reserve looks poised to lower borrowing costs for the first time this year, with most having already notched up gains after Chair Jerome Powell hinted at cuts last month. After easing…
(Reuters) – Shares of Workday rose nearly 9% on Wednesday, after activist investor Elliott Management unveiled a stake of more than $2 billion in the company and backed its leadership. Workday has been pushing to stay competitive in a consolidating human resources software market, where integrating AI has become key to meeting shifting client needs….
(Reuters) – Amazon.com said on Wednesday it is investing more than $1 billion to raise pay and lower healthcare costs for U.S. fulfillment and transportation employees, pushing up the average total compensation to over $30 an hour including benefits. The technology giant said the average pay would increase to more than $23 per hour, adding…
By Ateev Bhandari, Pritam Biswas and Echo Wang (Reuters) – Shares of StubHub rose about 8% in their New York Stock Exchange debut on Wednesday, valuing the ticket reseller marketplace at $9.32 billion, adding to a streak of positive day-one receptions for technology platforms. The New York-based company’s stock opened at $25.35 per share, compared…
By Milana Vinn and Max A. Cherney NEW YORK -ASML, a crucial supplier of advanced chipmaking equipment, is set to become the top shareholder of French artificial intelligence startup Mistral AI in a move to strengthen European tech sovereignty, people familiar with the matter told Reuters. The Dutch ASML is committing 1.3 billion euros ($1.5…
By Foo Yun Chee BRUSSELS (Reuters) -Alphabet’s Google was hit with a 2.95-billion-euro ($3.45 billion) European Union antitrust fine on Friday for anti-competitive practices in its lucrative adtech business, a sharp sanction that riled up U.S. President Donald Trump. The fine, the fourth penalty Google has faced in its decade-long fight with EU competition regulators,…
