By Matt Tracy (Reuters) – The rapid growth of private credit lending beyond its traditional market presents potential future risks to the U.S. economy due to lack of oversight and transparency, according…
Category: Business
Samsung bolsters AI in foldable phones, health monitoring in smartwatch, ring
By Joyce Lee SEOUL (Reuters) – Samsung Electronics unveiled its latest foldable smartphones on Wednesday, making its priciest flagship model lighter and slimmer and bolstering AI functions as it challenges Apple’s dominance…
US FTC to sue drug middlemen over insulin prices, WSJ reports
(Reuters) -The U.S. Federal Trade Commission is planning to sue UnitedHealth, Cigna and CVS Health – the three largest pharmacy-benefit managers – over their tactics for negotiating prices for drugs including insulin, the…
Musk’s Neuralink working on new brain implant device
(Reuters) -Neuralink, Elon Musk’s brain-chip company, is working on a new device that it believes will require half the number of electrodes to be implanted in the brain to make it more…
Boeing deliveries drop 27% in June year-on-year
By Allison Lampert (Reuters) – Boeing said on Tuesday it delivered more commercial jets in June than in any other month this year, but the total of 44 planes represented a 27%…
Musk’s xAI, Oracle end talks on $10 billion server deal, The Information reports
(Reuters) -Billionaire Elon Musk’s artificial intelligence startup xAI and tech giant Oracle have ended talks on a potential $10 billion server deal, The Information reported on Tuesday. The startup and Oracle have…
S&P 500’s tech dominance sparks calls for portfolio diversification
By Ankika Biswas (Reuters) – The gap in returns between the S&P 500 and the index’s equal-weighted counterpart is at its widest in 15 years, underscoring the need to diversify beyond AI…
Citi to cease operations in Haiti after 50 years
(Reuters) -Citigroup will wind up its operations in Haiti due to weak demand from institutional clients and lower international banking activity, ending its presence of more than five decades in the country….
Eli Lilly to buy bowel disease drug developer Morphic for $3.2 billion
(Reuters) -Eli Lilly will acquire Morphic Holding for $3.2 billion, the companies said on Monday, giving the U.S. drugmaker access to an experimental drug for inflammatory bowel disease. Shares of drug developer…
Revolut CEO to sell part of stake in $500 million share sale, Sky News reports
(Reuters) -British fintech company Revolut’s CEO Nikolay Storonsky will cash in part of his multibillion dollar stake in the company as part of a $500 million share sale, Sky News reported on…