Dow Jones Newswires Unicredit to Hand $570 Billion to Shareholders after Record Profit
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Schemes targeting seniors account for $3.4 billion in reported losses, FBI says
Reports of elder fraud crimes increased by 14% in 2023, according to a new federal report.CBS News - Politics -
Microsoft will invest $1.7 billion in AI and cloud infrastructure in Indonesia
Microsoft will invest $1.7 billion over the next four years in new cloud and artificial intelligence infrastructure in Indonesia — the single largest investment in Microsoft’s 29-year history in the countryABC News - Tech - Microsoft -
Amazon Reports $143.3 Billion in Revenue for First Quarter of 2024
The company also reported that profit more than tripled, to $10.4 billion, topping Wall Street expectations.The New York Times - Tech -
AMD says it will sell $4 billion in AI chips this year; stock drops on in-line forecast
AMD sells AI chips that compete with Nvidia, but it makes most of its money from PC chips.CNBC - Business -
Micron Gets $6.1 Billion to Build Three New Facilities
The government grant will fuel up to $125 billion in investment by Micron in New York and Idaho over the next 20 years, U.S. officials said.The Wall Street Journal - Tech -
Truth Social Grants Donald Trump a New $1.8 Billion Stock Bonus
Trump Media & Technology Group, the parent company of the Truth Social network, said in a securities filing that it had issued 36 million new shares and given them to the former president.The Wall Street Journal - World - Donald Trump -
BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
The new platform will be called BlackRock Riyadh Investment Management, or BRIM.CNBC - Business -
Biden Cancels $6.1 Billion in Debt for Former Art Institute Students
The announcement covers 317,000 former students and marks another step in the administration’s student loan relief efforts.The New York Times - Business - Joe Biden -
Biden is forgiving $6.1 billion in student debt for 317,000 people
The Biden administration said it's erasing debt for people who attended the for-profit Art Institutes, which shut down in September.CBS News - Politics - Joe Biden -
Biden is forgiving $6.1 billion in student debt for 317,000 people
The Biden administration said it's erasing debt for people who attended the for-profit Art Institutes, which shut down in September.CBS News - Top stories - Joe Biden -
Nvidia-backed GPU cloud provider CoreWeave surges to $19 billion valuation
CoreWeave intends to set up more of its clouds full of graphics processing units in more places around the world as it goes up against Amazon and Google.CNBC - Business -
Johnson & Johnson Proposes $6.5 Billion in New Talc Settlement Offer
The offer is the company’s third attempt to resolve tens of thousands of claims that its baby powder caused ovarian cancer and mesothelioma.The New York Times - Business -
Viking shares rise 8% after cruise line operator's market debut
The company's initial public offering coincides with a strong rebound in cruise bookings.CNBC - Business -
AI StartupCoreWeaveNearly Triples Valuation to $19 Billion in Five Months
Nvidia-backed company raises $1.1 billion from investors including Fidelity, Magnetar Capital.The Wall Street Journal - Tech - Artificial Intelligence -
Johnson & Johnson offers $6.5 billion to settle talc cancer lawsuits
Plaintiffs have three months to vote on whether to approve a proposed legal settlement that would resolve nearly all talc lawsuits.CBS News - Top stories -
Biden cancels $6.1 billion in loans for ex-Art Institutes students
The Biden administration announced its latest round of student debt relief Wednesday. More than $6 billion will be canceled for 317,000 borrowers who enrolled at any Art Institutes campus between 2004 and 2017. CBS News reporter Haley Ott has more.CBS News - Top stories - Joe Biden -
Microsoft will invest $2.2 billion in cloud and AI services in Malaysia
Microsoft CEO Satya Nadella says the company will invest $2.2 billion over the next four years in new cloud and artificial intelligence infrastructure in MalaysiaABC News - World - Microsoft -
Microsoft will invest $2.2 billion in cloud and AI services in Malaysia
Microsoft CEO Satya Nadella says the company will invest $2.2 billion over the next four years in new cloud and artificial intelligence infrastructure in MalaysiaABC News - Tech - Microsoft -
Disaster Loans Provided a Lifeline. Now Small Businesses Owe Billions in Fees.
The government has referred 860,000 delinquent Covid loans for collection—tacking on billions of dollars in fees for small-business borrowers.The Wall Street Journal - World -
Novartis to pay up to $1.75 billion for U.S. cancer-focused biotech
Novartis on Thursday said it will pay up to $1.75 billion for a U.S. biotech focused on cancer.MarketWatch - Business -
Disaster Loans Provided a Lifeline. Now Small Businesses Owe Billions in Fees.
The government has referred 860,000 delinquent Covid loans for collection—tacking on billions of dollars in fees for small-business borrowers.The Wall Street Journal - Business -
Pinterest’s stock soars 17% on big revenue and profit beat, 500 million monthly active users
Pinterest Inc.’s stock soared in extended trading Tuesday following quarterly results and revenue guidance that exceeded Wall Street estimates.MarketWatch - Business -
Starbucks’ stock sinks 12% as ‘cautious’ consumers, more headwinds hit profit, revenue
Starbucks reported fiscal second-quarter earnings late Tuesday that were wide off the mark.MarketWatch - Business -
CVS shares plummet as health company slashes profit outlook on higher medical costs
CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.CNBC - Business -
Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales
The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.CNBC - Business - Covid -
How Berkshire Hathaway's Annual Meeting Became a Hotspot for Romantic Mergers
Warren Buffett has sold engagement rings and been wingman on marriage proposals for couples who come to the Omaha gatheringThe Wall Street Journal - World -
China EV Makers Post Higher April Sales Amid Price War
BYD and a host of other Chinese electric-vehicle makers posted higher sales and deliveries in April, offering a sign of rebounding demand amid continuing price wars.The Wall Street Journal - World - China -
Pfizer’s first-quarter results top estimates, while drugmaker boosts full-year profit outlook
Pfizer on Wednesday reported first-quarter results that beat analyst expectations, and raised its full-year profit guidance as cancer and heart-disease drugs helped offset plummeting COVID product sales.MarketWatch - Business -
A Tale of Three Universities
Northwestern appeases its protesters. Florida enforces its rules. Columbia is a mess.The Wall Street Journal - World -
Kraft Heinz snaps long streak of profit beats and sales fell shy again
Kraft Heinz’s stock fell in premarket trading Wednesday, after the food and beverage brands company only matched first-quarter profit expectations and fell shy on sales, again.MarketWatch - Business -
Natural Gas Falls on Weak Demand
U.S. natural gas futures settled lower with soft demand and the hefty storage overhang weighing on the market despite lower U.S. production.The Wall Street Journal - World -
Tech, Media & Telecom Roundup: Market Talk
Read about Match Group, TPG Telecom and more in the latest Market Talks covering Technology, Media and Telecom.The Wall Street Journal - World -
Marjorie Taylor Greene to Force Vote Next Week on Ousting Speaker Mike Johnson
The GOP rebel said the Republican leader has betrayed his conservative values in bipartisan deals.The Wall Street Journal - World -
Hundreds of Protesters Arrested as Universities Blame Outsiders for Escalating Violence
Police cracked down on pro-Palestinian encampments at Columbia, UCLA and other college campuses.The Wall Street Journal - World -
"Sell in May and Go Away" Isn't as Useful as It Once Was
Returns still tend to be better for those who heed the Wall Street adage, but volatility has been greater outside of the summer months in recent yearsThe Wall Street Journal - World