Category: Latest News
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L3Harris Unveils Plan to Spin Off Missile Unit Backed by $1B Defense Department Investment
L3Harris Technologies (NYSE:LHX) said it plans to separate its Missile Solutions business into a standalone, publicly traded company, supported by a $1 billion investment from the U.S. Department of Defense in the form of a convertible preferred security. Under the proposal, the Defense Department’s investment would convert automatically into common shares when the missile unit…
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BlackRock Plans Modest Workforce Reduction as Part of Ongoing Efficiency Efforts – Report
BlackRock (NYSE:BLK), the world’s largest asset manager, is set to eliminate around 250 roles, equivalent to roughly 1% of its global headcount, a company spokesperson told Reuters on Tuesday. The planned reductions form part of BlackRock’s routine annual review process, which focuses on streamlining operations and enhancing organisational efficiency. “Improving BlackRock is a constant priority,”…
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Argenx Stock Gains After FDA Moves to Priority Review for Expanded Vyvgart Use
Shares of Argenx (NASDAQ:ARGX) rose about 3.5% on Tuesday after the U.S. Food and Drug Administration agreed to fast-track the review of an application related to its immune disease treatment, Vyvgart. The regulator has accepted a supplemental biologics license application that would extend Vyvgart’s indication to adults with acetylcholine receptor antibody–seronegative generalized myasthenia gravis (gMG),…
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Nvidia Clarifies No Upfront Payment Needed for H200 Chip Sales, Reuters Reports
NVIDIA Corporation (NASDAQ:NVDA) does not require customers to make upfront payments for its H200 chips, a company spokesperson told Reuters on Tuesday. The clarification follows earlier reports suggesting that Nvidia had introduced unusually strict sales terms for Chinese buyers, including demands for full prepayment, after Washington recently approved the advanced H200 chips for sale in…
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Microsoft Warns China Is Gaining Ground in Global AI Markets Beyond the West, FT Reports
Microsoft (NASDAQ:MSFT) has cautioned that U.S. artificial intelligence firms are losing ground to Chinese competitors in markets outside the Western world, as China rolls out low-cost, open AI models supported by substantial state backing, the Financial Times reported on Tuesday. Microsoft president Brad Smith told the FT that the rapid adoption of technology from Chinese…
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Google Set to Move Production of Premium Smartphones to Vietnam, Report Says
Google (NASDAQ:GOOG) is preparing to start developing and manufacturing its top-tier smartphones in Vietnam later this year, according to a report published Tuesday by Nikkei Asia. Citing sources familiar with the plans, the report said Google will carry out new product introduction (NPI) work in Vietnam for its Pixel, Pixel Pro and Pixel Fold models,…
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Charles River Laboratories Agrees to Buy PathoQuest from SHS Capital
Charles River Laboratories International (NYSE:CRL) said it has reached an agreement to acquire PathoQuest SAS from healthcare-focused private equity firm SHS Capital, together with its co-investors. The deal is intended to bring together PathoQuest’s proprietary next-generation sequencing technology with Charles River’s global platform, a move that is expected to speed up the broader use of…
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Gold Holds Near Record Territory as Fed Independence Concerns Persist; U.S. CPI in Focus
Gold prices paused just below record highs on Tuesday, as investors weighed heightened geopolitical tensions in Iran and growing concerns over U.S. political pressure on the Federal Reserve, while awaiting the release of closely watched U.S. inflation data later in the session. Spot gold was little changed at $4,588.9 an ounce by 01:08 ET (06:08…
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Dow Jones, S&P, Nasdaq, Wall Street, U.S. Futures Edge Lower Ahead of CPI Data and JPMorgan Results
Futures tied to the main U.S. equity benchmarks traded modestly lower on Tuesday, as investors positioned themselves for a key inflation release and the opening wave of quarterly earnings. Markets are also digesting political fallout linked to an investigation involving the Federal Reserve, while oil prices continued to climb amid unrest in Iran. Futures ease…
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U.S. Stocks Recover From Initial Pullback To Close Modestly Higher
Stocks moved to the downside at the start of trading on Monday but showed a notable recovery over the course of the session. The major averages climbed well off their lows of the session and into positive territory, with the Dow and the S&P 500 reaching new record closing highs. The major averages pulled back…