Business

SHANGHAI (Reuters) – U.S. President Donald Trump’s decision to block a Chinese-backed firm from buying a U.S.-based chipmaker this week is detrimental to America’s growth and the global economy, China’s state news agency Xinhua said in a commentary on Saturday. Canyon Bridge Capital Partners’ planned $1.3 billion acquisition of Lattice Semiconductor Corp was one of
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(Reuters) – Toys ‘R’ Us Inc could file for bankruptcy in the coming weeks as pressure from skittish suppliers intensifies, the Wall Street Journal reported on Friday, citing people familiar with the matter. The company and its restructuring advisers are considering filing for Chapter 11 protection in the U.S. Bankruptcy Court in Richmond, Virginia, according
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(Reuters) – Wall Street touched intra-day record highs on Friday, with the S&P 500 approaching the 2,500 mark as technology stocks bounced back after two days of declines. The S&P 500 information technology sector .SPLRCT rose 0.21 percent, powered by an Nvidia-led surge in chipmakers, while Apple rose 1.1 percent in its first gain since
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WASHINGTON (Reuters) – The U.S. Federal Trade Commission said on Thursday it was investigating Equifax Inc’s massive data breach, and a top Democrat suggested the credit-monitoring company’s corporate leaders might need to resign. Shares of Equifax fell 2.4 percent on Thursday and trading volume hit a record high. The shares have lost 32 percent since
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WASHINGTON (Reuters) – The Trump administration on Wednesday told U.S. government agencies to remove Kaspersky Lab products from their networks, saying it was concerned the Moscow-based cyber security firm was vulnerable to Kremlin influence and that using its anti-virus software could jeopardize national security. The decision represents a sharp response to what U.S. intelligence agencies
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NEW YORK (Reuters) – Bitcoin “is a fraud” and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co (JPM.N), said on Tuesday. Speaking at a bank investor conference in New York, Dimon said, “The currency isn’t going to work. You can’t have a business where people can invent a currency out of
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WASHINGTON (Reuters) – The chairman of the U.S. National Transportation Safety Board (NTSB) said on Tuesday “operational limitations” in the Tesla Model S played a “major role” in a May 2016 crash that killed a driver using the vehicle’s semi-autonomous “Autopilot” system. The limits on the autonomous driving system include factors such as Tesla being
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