Business

(Reuters) – Bank of America is partnering with FIFA to become a sponsor for the 2026 World Cup, soccer’s global governing body said on Thursday, in a move that will link the financial giant with one of the world’s most-watched sporting events. Sponsoring sport can be a fruitful marketing tactic for companies as it allows them to reach a wider audience and boost recognition of their brands. The second-biggest U.S. lender will be FIFA’s first-ever … Read more…

By Waylon Cunningham (Reuters) – Flynn Group, which says it is the world’s biggest franchise operator, bought 83 Wendy’s franchises in New Jersey and Pennsylvania, bringing its total to 277. The deal closed on Wednesday, according to Greg Flynn, the company’s CEO. Terms of the deal and the identity of the seller were not disclosed. The purchase makes San Francisco-based Flynn one of Wendy’s biggest U.S. franchisees with nearly one out of every 20 of … Read more…

(Reuters) – AI PCs accounted for 14% of all personal computers shipped in the second quarter with Apple leading the way, research firm Canalys said on Tuesday, as added artificial intelligence capabilities help reinvigorate demand. WHY IT’S IMPORTANT PC providers and chipmakers have pinned high hopes on devices that can perform AI tasks directly on the system, bypassing the cloud, as the industry slowly emerges from its worst slump in years. These devices typically feature … Read more…

By Alex Lawler LONDON (Reuters) -OPEC on Monday cut its forecast for global oil demand growth in 2024 citing softer expectations for China, a reduction that highlights the dilemma faced by the wider OPEC+ group in raising production from October. This is the first cut in OPEC’s 2024 forecast since it was made in July 2023, and comes after mounting signs that demand in China has lagged expectations due to slumping diesel consumption and as … Read more…

(Reuters) -China-based autonomous driving startup WeRide said on Friday it was seeking a valuation of as much as $5.02 billion in its initial public offering in the United States. The IPO announcement comes at a time when the Biden administration is expected to propose barring Chinese software in autonomous and connected vehicles in the United States in the coming weeks. WeRide is aiming to raise as much as $119.4 million by offering 6.45 million American … Read more…

(Reuters) -Boeing said on Friday it had been awarded a $2.56 billion contract from the United States Air Force for two rapid prototype E-7A AEW&C Wedgetail aircraft. The contract includes lifecycle development, training and support for the U.S. E-7A fleet, the company said in a statement. Last month, the U.S. Air Force said it had reached a deal with Boeing for the supply of E-7 Wedgetail airborne warning and control aircraft. It downplayed concerns that … Read more…

NEW YORK (Reuters) – Shares of Lumen Technologies surged 30% on Wednesday, extending gains from the previous session, after the telecommunications company boosted its annual free-cash-flow forecast due to demand related to artificial intelligence. Lumen shares were trading at $6.54 per share after hitting an intra-day high of $7.83, which is the highest since October 2022. The stock nearly doubled on Tuesday, soaring 93% to close at $5 from $2.59. It is now up 256% … Read more…

By Sourasis Bose (Reuters) – Demecan Group, one of Germany’s largest cannabis producers, recently completed its latest round of funding, bringing its valuation close to 100 million euros ($109.24 million), a person familiar with the matter told Reuters on Wednesday. The funding round was led by Florida-based Trog Hawley Capital, marking the first institutional investment by a U.S.-based investor in Demecan. While financial details on the latest funding were not known, according to the source, … Read more…

(Reuters) – United Airlines has begun negotiations with the Teamsters union, which is pushing for a new contract covering 10,000 aviation maintenance and related workers in the United States, the labor union said on Tuesday. The Teamsters National Negotiating Committee is seeking industry-leading wages, a faster timeline for reaching the top pay rate, improved healthcare benefits and higher safety standards. The negotiations — which have begun four months before the current contract is set to … Read more…

(Reuters) -Apple and Nvidia led a sell-off in technology stocks on Monday as U.S. recession fears and Berkshire Hathaway’s decision to cut its stake in the iPhone maker punctured a months-long rally in the sector. High-performing shares of Alphabet, Amazon, Meta Platforms, Microsoft and Tesla fell as much as 12.2% in premarket trading. The losses in the Magnificent Seven stocks were set to wipe out nearly $1 trillion from the combined market value of the … Read more…