Business

(Reuters) – Barclays won the dismissal on Friday of two U.S. securities fraud lawsuits stemming from the British bank’s unauthorized sale of $17.7 billion more securities than U.S. regulators allowed. U.S. District Judge Lewis Liman in Manhattan said investors who acquired Barclays’ iPath Series B S&P 500 VIX Short-Term Future exchange-traded notes (“VXX”) could not sue over general assurances the bank made about its internal controls even as it issued the notes without the required … Read more…

(Reuters) – Yahoo has signed a deal to sell its 20-year-old technology news website, TechCrunch, to media investment firm Regent, the companies said on Friday. TechCrunch, a popular online platform providing news and analysis on global tech companies, startups and entrepreneurs, was among the media assets of Verizon Communications, including Yahoo. In 2021, private equity firm Apollo Global Management acquired the media assets for $5 billion, subsequently rebranding the combined assets under the Yahoo name. … Read more…

By Anna Tong, Krystal Hu and Kenrick Cai (Reuters) – Kyle Vogt, former CEO of self-driving car company Cruise, has raised $150 million in a new funding round led by Greenoaks for his robotics startup The Bot Company, valuing the firm launched less than a year ago at $2 billion, sources told Reuters.  This capital injection follows a previous $150 million raised from investors such as Spark Capital and former GitHub CEO Nat Friedman that … Read more…

By Stephen Nellis SAN JOSE, California (Reuters) -Nvidia will open a quantum computing research lab in Boston, where it plans to collaborate with scientists from Harvard University and the Massachusetts Institute of Technology, CEO Jensen Huang said on Thursday. Huang made the announcement at Nvidia’s annual software developer conference in San Jose, California, where Nvidia held a day of events focused on quantum computing. Nvidia added the program after Huang in January said useful quantum computers … Read more…

By Rishika Sadam HYDERABAD (Reuters) -Eli Lilly launched its blockbuster diabetes and weight-loss drug Mounjaro in India on Thursday, beating rival Novo Nordisk for a much-awaited entry into the world’s most populous country grappling with increasing rates of obesity and diabetes. U.S.-based Lilly and Danish Novo Nordisk have seen skyrocketing global demand for their innovative weight-loss drugs, with investor interest also boosting the drugmakers’ valuations. Mounjaro, a once-weekly injection approved by India’s drug regulator, is … Read more…

(Reuters) – Apple is shaking up its executive ranks to get its AI efforts back on track after months of delays, Bloomberg News reported on Thursday citing people familiar with the situation. Some AI improvements to voice assistant Siri will be delayed until 2026, Apple had said earlier this month without giving any reason for the delays. Mike Rockwell, vice president in charge of the Vision Products Group, will now be in charge of the … Read more…

By Jaspreet Singh and Akash Sriram (Reuters) -Perplexity AI is in talks to raise funds at an $18 billion valuation, a person familiar with the matter told Reuters on Thursday, as the Nvidia-backed startup looks to grow and capture soaring demand for its search tools. The jump in valuation doubles the previous $9 billion figure, reported by Reuters in November. Perplexity is an AI startup that provides information by searching the internet, just like ChatGPT … Read more…

By Foo Yun Chee BRUSSELS (Reuters) – Amazon lost its fight against a record 746 million euro ($812.4 million) fine handed out by Luxembourg’s privacy regulator four years ago as a court sided with the watchdog, according to a statement on the regulator’s website. The Luxembourg National Commission for Data Protection (CNPD) said the country’s administrative court dismissed Amazon’s appeal in a March 18 ruling. The watchdog had penalised Amazon for processing personal data in … Read more…

(Reuters) -Nvidia CEO Jensen Huang said on Wednesday that orders for some 3.6 million of its flagship “Blackwell” chips from four top cloud service providers “under represented” demand, since they did not include orders from key customer Meta. Facebook-owner Meta Platforms is among the largest buyers of Nvidia chips and Mark Zuckerberg, CEO of the social media giant, said early last year the company planned to use Blackwell chips to train the company’s open-source large … Read more…

By Nicholas P. Brown and Ananya Mariam Rajesh (Reuters) – Nike is expected to post its steepest revenue decline in nearly five years in its quarterly results on Thursday, as its new products failed to open the wallets of Americans reluctant to snap up non-essential items like sporting goods and clothing. Downloads of Nike mobile apps for the quarter were down 35% from a year earlier, according to market intelligence firm Sensor Tower. Foot traffic … Read more…