Author: Fiona Craig
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Microsoft faces UK antitrust challenge from Slack over Teams integration
Salesforce (NYSE:CRM), through its messaging platform Slack, has launched legal action against Microsoft (NASDAQ:MSFT) in London’s High Court, accusing the tech giant of anticompetitive conduct linked to its Teams software. The claim, filed on April 23 by Slack Technologies LLC and associated entities, alleges that Microsoft restricted competition by integrating Teams with its broader software…
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BP outperforms Q1 profit estimates as trading boost lifts sentiment
BP (NYSE:BP) posted first-quarter underlying replacement cost (RC) profit of $3.2 billion, comfortably ahead of the $2.67 billion consensus forecast compiled by the company. The result more than doubled the $1.5 billion achieved in the prior quarter and the $1.38 billion reported in the same period last year. The strong performance was largely attributed to…
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Oil climbs nearly 2% as Iran conflict stalemate persists
Oil prices advanced close to 2% on Tuesday, building on the previous session’s gains, as there were few signs of progress in resolving the U.S.-Iran conflict. The continued closure of the Strait of Hormuz has kept a significant portion of Middle Eastern energy supplies restricted from global markets. A U.S. official said on Monday that…
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Gold drops as oil strength and BOJ stance raise inflation concerns
Gold prices turned lower in Asian trading on Tuesday, retreating sharply as firm oil prices and a more hawkish tone from the Bank of Japan heightened worries about inflation linked to the Iran conflict. Spot gold declined 1% to $4,633.29 an ounce, while gold futures slipped 1% to $4,646.90/oz by 02:32 ET (06:32 GMT). Other…
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Markets search for direction as geopolitics and earnings dominate focus: Dow Jones, S&P, Nasdaq, Wall Street Futures
Futures tied to major U.S. equity indices traded mixed on Tuesday, as investors weighed reports that U.S. President Donald Trump is dissatisfied with Iran’s latest proposal to end their two-month conflict. At the same time, corporate developments and central bank signals added to the market’s cautious tone. OpenAI reportedly fell short of internal revenue targets,…
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Domino’s Pizza Shares Slip After Q1 Earnings Miss Expectations
Domino’s Pizza, Inc. (NASDAQ:DPZ) reported first-quarter results on Monday that came in below Wall Street forecasts, sending shares down 3.8% in premarket trading. The company posted adjusted earnings per share of $4.13, missing analyst estimates of $4.28. Revenue totaled $1.15 billion, also falling short of the $1.17 billion consensus, though it marked a 3.5% increase…
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Meta Secures Space-Based Solar Energy Deal to Power AI Data Centers
Meta Platforms (NASDAQ:META) announced Monday that it has entered into an agreement to purchase up to 1 gigawatt of space-based solar energy from Overview Energy, a company developing satellite technology to harvest sunlight in orbit and transmit it back to Earth as electricity. The planned capacity is roughly equivalent to the output of a nuclear…
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Apple Shares Edge Lower on Report of OpenAI Chip Ambitions
Apple Inc. (NASDAQ:AAPL) declined 1.5% as of 6:42 a.m. in New York on Monday following reports that OpenAI is exploring the development of smartphone processors. According to TF International Securities analyst Ming-Chi Kuo, industry checks suggest OpenAI is working with Qualcomm Inc. and MediaTek Inc. on potential chip designs aimed at mobile devices. Potential Ecosystem…
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Avery Dennison Invests $75 Million in Physical AI Firm Wiliot
Avery Dennison Corporation (NYSE:AVY) announced a $75 million minority investment in Wiliot, a firm focused on applying Physical AI to supply chain operations, according to a company statement. The investment positions Avery Dennison as Wiliot’s preferred partner for inlay design, manufacturing, and commercialization. Both companies intend to broaden their joint go-to-market strategy across sectors including…
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Medtronic Discloses Cybersecurity Incident Involving IT Systems
Medtronic (NYSE:MDT) said an unauthorized third party gained access to data within portions of its information technology systems on Thursday, prompting the company to take immediate action. The medical device manufacturer stated that it quickly contained the breach and initiated its established incident response procedures. Investigation Underway With External Experts Medtronic has brought in third-party…