United Parcel Service Gains Confidence for Q2 Ramp with Improved Volume, Q1 EBIT, UBS Says
Joe Biden’s attempt to challenge Chinese supremacy in commercial shipbuilding will probably do little to revive US shipyards, analysts say, but...
HOUSTON (Reuters) -Exxon Mobil will take 18 to 24 months to achieve its full production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company's top shale executive said on Friday. Exxon this week closed all-stock acquisition after agreeing to an antitrust consent order that barred the former Pioneer CEO from joining its board and is moving in coming weeks to combine operations that will form the largest oil producer in the Permian basin. "You will see (oil production) grow pretty rapidly, year over year," said Bart Cahir, Exxon's senior vice president of shale, as Exxon applies its current growth strategy to the resources incorporated from Pioneer.
The Berkshire Hathaway CEO compared artificial intelligence to the development of nuclear weaponry, even as the company begins to use it in some businesses.
Vladimir Putin is throwing everything he has got at ramping up Russia’s war machine.
Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett's conglomerate let its cash hoard swell to a record $189 billion. Buffett's company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher income from investments as interest rates rose. The value of Berkshire's stake in Apple fell 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even though the iPhone maker's share price fell just 11% in the quarter.
Investing in Bitcoin miners can be lucrative, but there's more to know before adding them to your portfolio.
The CEO is shifting the EV maker’s strategy and suggesting that he could take his ideas on AI elsewhere.
GlobalData report shows China light vehicle wholesales reach 2.1 million units in March
If you were concerned about slowing cloud infrastructure growth for a time in 2023, you can finally relax: The cloud was back with a vengeance this quarter. The market as a whole was up a healthy $13.5 billion to $76 billion, up 21% over the first quarter in 2023, per Synergy Research. That’s healthy growth by any measure. If you’re wondering what’s driving the growth, you probably guessed that it's related to generative AI and the copious amount of data required to build the underlying models.
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