Business

By Allison Lampert and Tim Hepher (Reuters) – Boeing’s two-week-old strike has forced aerospace supplier Pathfinder Manufacturing to furlough 14 out of the company’s 54 employees, and CEO Dave Trader fears he may need to send more home if the stoppage grinds on. Pathfinder runs a project to attract new recruits to the aerospace industry, and trains them alongside skilled workers at its facility yards away from Boeing’s Everett jet factory outside Seattle, the largest … Read more…

By Aditya Kalra NEW DELHI (Reuters) – Three online sellers operating on Walmart-owned Flipkart have sued the Indian antitrust watchdog over an investigation which found they, Flipkart and rival Amazon breached competition laws, according to court filings seen by Reuters. The filings come after antitrust investigations concluded in August found Amazon and Flipkart, some of their sellers and smartphone brands, violated local competition laws by giving undue preference to select online sellers and prioritizing certain … Read more…

By Milana Vinn and David French (Reuters) – Buyout firm TPG has emerged as the frontrunner to pick up a minority stake worth $2 billion in Creative Planning, in a deal that could value the wealth management firm at more than $15 billion, people familiar with the matter said on Saturday. The deal would mark TPG’s second such bet on a wealth manager within a week and underscores the burgeoning demand for dealmaking in the … Read more…

(Reuters) -OpenAI’s chairman Bret Taylor on Thursday said the board has discussed whether to compensate CEO Sam Altman with equity but no decision has been made. In a statement, he said no specific figures have been discussed for any equity compensation for Altman. Reuters reported on Wednesday that OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation and that Altman would receive equity for the first time in … Read more…

SAO PAULO (Reuters) – Microsoft on Thursday pledged to invest 14.7 billion reais ($2.70 billion) in Brazil over three years to enhance its cloud infrastructure and artificial intelligence (AI) in Latin America’s largest economy. WHY IT’S IMPORTANT The amount is the largest-ever investment to be announced at once in Brazil by Microsoft, which said massive adoption of AI could add as much as 4.2 percentage points to Brazil’s economic growth by the end of the … Read more…

(Reuters) – Alphabet plans to invest $3.3 billion in South Carolina to build two new data centers, CEO Sundar Pichai said, at a time when the Google parent and its rivals invest heavily in infrastructure supporting the development of AI applications. The search engine giant will establish the two new data center campuses in Dorchester County and expand its existing data center campus in Berkeley County, the South Carolina governor’s office said in a statement … Read more…

(Reuters) -Micron Technology forecast first-quarter revenue above Wall Street estimates on Wednesday, betting on strong demand for its high bandwidth memory (HBM) chips used by the AI industry, sending the company’s shares up 10% after the bell. The company is one of the only three providers of HBM chips along with South Korea’s SK Hynix and Samsung, which has allowed the U.S. firm to cash in on demand for semiconductors that help power generative AI … Read more…

(Reuters) -U.S. drugmaker Pfizer said on Wednesday it is withdrawing its sickle cell disease therapy Oxbryta in all markets where it is approved and discontinuing all studies and access programs related to the treatment. The decision is based on the totality of clinical data, which now indicates that the benefit of Oxbryta no longer outweighs the risks associated with its use, Pfizer said. The company added that the data for Oxbryta shows that there is … Read more…

MEXICO CITY (Reuters) -Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. The fresh funds will go toward improving connectivity and boosting the adoption of AI technology by small and-medium sized businesses (SMBs), the firm said in a statement. The initiative aims to reach 30,000 SMBs in Mexico in three years, Microsoft said. Already, … Read more…