Business

(Reuters) – Nippon Steel will not import steel to the U.S. from its international mills, the Japanese company’s Executive Vice President Takahiro Mori said on Monday in a letter to United Steelworkers union members. Nippon is looking to close its $14.9 billion deal for U.S. Steel by the end of the year before President-elect Donald Trump, who has pledged to block the deal during his campaign, enters the White House in January. In its effort … Read more…

BERLIN (Reuters) – A German court said on Monday that Facebook users whose data was illegally obtained in 2018 and 2019 were eligible for compensation. The Federal Court of Justice (BGH) ruled that the loss of control over one’s data online was grounds for damages without having to prove specific financial losses. Thousands of Facebook users in Germany are demanding compensation from parent company Meta for insufficient protection of their data after unknown third parties … Read more…

(Reuters) -Donald Trump’s social media company is in advanced talks to buy crypto trading firm Bakkt, the Financial Times reported on Monday, citing two people with knowledge of the talks. Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, the report said. Shares of Bakkt, backed by NYSE-owner Intercontinental Exchange, soared nearly 66% in late afternoon trading, before being halted for volatility. Trump Media, Bakkt and Intercontinental … Read more…

By Sinéad Carew (Reuters) – Shares in Palantir Technologies Inc were up more than 6% on Friday, hitting a record high, after it announced late on Thursday that it would list on the Nasdaq and expects eligibility to join the Nasdaq 100 index. The data analytics software company said it would switch its stock listing from the New York Stock Exchange and begin trading on Nasdaq on Nov. 26.  If it is included in the … Read more…

(Reuters) -Pony AI is seeking a valuation of up to $4.48 billion in its U.S. initial public offering, it said on Thursday, as the Chinese autonomous driving firm moves ahead with its long-sought plan for a New York listing. Pony, backed by Japanese automaker Toyota, aims to raise up to $195 million by offering 15 million American Depositary Shares priced between $11 and $13 each. Chinese companies are slowly pursuing New York flotation following a … Read more…

By Kenrick Cai SAN FRANCISCO – Alphabet’s Google on Thursday released a smartphone app for its artificial intelligence chatbot on Apple’s App Store that introduced the latest generation of its voice assistant to the popular mobile operating system. The new Gemini app will include Gemini Live, a voice-based feature that allows users to have natural conversations with the chatbot. Apple has already said it will incorporate OpenAI’s ChatGPT into a refreshed version of its voice assistant, … Read more…

(Reuters) – Shares of Hims & Hers Health slumped 15% on Thursday after Amazon.com launched a rival service that offers upfront pricing for telehealth visits. Amazon said it is introducing low, upfront pricing for a clinical visit, treatment plan, and free medication delivery for Prime members for a range of common health, beauty and lifestyle concerns. Similarly, Hims & Hers connects patients to licensed healthcare professionals through its online platform and offers treatments for a … Read more…

(Reuters) – Amazon.com launched a low-cost ecommerce service called Amazon Haul for some customers in the United States giving them a selection of products at $20 or less, the online retailer said on Wednesday, as it looks to take on Chinese firms Shein and PDD Holdings’ Temu. In August, Amazon CEO Andy Jassy said average selling prices were falling as customers were trading down to cheaper items and buying more essential goods. The company said … Read more…

(Reuters) – Alphabet’s Waymo said on Tuesday its autonomous ride-hailing service, Waymo One, is now available to everyone in Los Angeles, a sign of rapid growth and adoption of the technology. Waymo had closed a $5.6 billion funding round last month, as automakers and technology companies are betting big on the driverless technology to foster future growth, even as it faces tight regulatory scrutiny. The company said nearly 300,000 people had joined its waitlist after … Read more…

By Svea Herbst-Bayliss (Reuters) -ValueAct Capital has built a $1-billion stake in Meta Platforms but is not currently pushing for big changes at the Facebook and Instagram parent, a source familiar with the matter told Reuters on Tuesday. The stake, which ValueAct has been building in recent weeks, now ranks among the firm’s two largest alongside its bet on cloud-based software company Salesforce. The investment firm and technology company have held discussions but it was … Read more…