(Reuters) -OpenAI CEO Sam Altman told some shareholders that the company is considering changing its governance structure to a for-profit business that OpenAI’s nonprofit board doesn’t control, The Information reported on Friday. One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the…
By Amanda Cooper LONDON (Reuters) -Global stocks hit record highs on Wednesday, driven by a rally in tech shares that has made AI chipmaker Nvidia the world’s most valuable company, while the dollar stalled as soft U.S. retail sales data suggested rates could fall this year. MSCI’s All-World index was up 0.15% at 805.12, having…
(Reuters) -Activist investor Elliott Investment Management disclosed a $2.5 billion stake in analog chipmaker Texas Instruments and urged the chipmaker to improve its free cash flow. Texas Instrument’s shares rose about 3% in early trading. Elliott proposed in a letter to the company’s board that Texas Instruments introduce a “dynamic capacity-management strategy”, which would allow…
(Reuters) -McDonald’s reported a surprise drop in quarterly global comparable sales on Monday, as the burger giant struggled to hold back budget-strapped customers from opting for cheaper meals at home. Global sales fell 1% in the second quarter, its first decline in 13 quarters, compared with analysts’ average estimate of a 0.53% rise, according to…
By Gram Slattery RACINE, Wisconsin (Reuters) – Donald Trump holds a rally in Racine, Wisconsin, on Tuesday, where he will slam Democratic President Joe Biden’s handling of the economy, even as a major local factory that Trump broke ground on six years ago has proven to be a flop. The Republican former president was in…
By Alexandra Ulmer (Reuters) – A major spending group backing Republican Donald Trump brought in nearly $70 million in donations last month and plans to spend $100 million in advertising over the summer across U.S. election battleground states, according to a memo sent to donors and seen by Reuters. The June 4 memo, written by…
By Steve Holland and Jarrett Renshaw WASHINGTON (Reuters) – President Joe Biden said on Friday that it was “dangerous” for people to question the integrity of the guilty verdict in Donald Trump’s hush money jury trial. In his first public comments since a New York jury on Thursday found Trump guilty on 34 counts over…
(Reuters) – Education technology company PowerSchool Holdings said on Friday it would be acquired by Bain Capital in a deal valuing the firm at $5.6 billion. Under the terms, PowerSchool stockholders will receive $22.80 per share in cash and existing shareholders — Vista Equity Partners and Onex Partners — will continue to have minority investments…
By Ismail Shakil and Katharine Jackson WASHINGTON (Reuters) -The White House dismissed as “absolutely false” a New York Times report on Wednesday that said U.S. President Joe Biden had told an ally he was weighing whether to continue his bid for reelection in November. The report was based on a conversation the Times said Biden…
By David Shepardson and Andrea Shalal WASHINGTON (Reuters) – The first U.S. presidential debate between incumbent Joe Biden and Republican rival Donald Trump on June 27 will include two commercial breaks, no props and muted microphones except when recognized to speak, CNN said Saturday. In May, the candidates agreed to face off in two debates…
