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Microsoft’s cloud surge lifts revenue above expectations

(Reuters) -Microsoft reported blockbuster growth in its cloud-computing business on Wednesday that pushed its quarterly revenue past Wall Street estimates, showing businesses are still splurging on artificial intelligence services despite fears of a bubble. The results highlight the growing returns from Microsoft’s massive AI investments. ...
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What a Federal Reserve rate cut means for your finances

NEW YORK (AP) — The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the second time since September. Before that, it had gone nine months without a cut. The federal funds rate is the rate at which banks borrow and ...
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Starbucks sales improve but store closures and layoffs take a bite out of profits

Starbucks reported better-than-expected revenue in its fiscal fourth quarter as its U.S. sales improved. The Seattle-based company said its net revenue rose 5% to $9.6 billion in the July-September period. That was better than the $9.3 billion Wall Street was expecting, according to analysts polled ...
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Fed to end balance sheet reduction on December 1

By Michael S. Derby (Reuters) -The Federal Reserve on Wednesday said it is ending the drawdown of its $6.6 trillion balance sheet amid evidence money market liquidity conditions have begun tightening and bank reserve levels dropping. Instead of allowing up to $5 billion in Treasury securities ...
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Fed delivers expected rate cut; Powell says December rate cut not assured

NEW YORK (Reuters) -A divided U.S. Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday and announced it will restart limited purchases of Treasury securities after money markets showed signs that liquidity was becoming scarce, a condition the U.S. ...
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NTSB urges owners of some Learjet models to check main landing gear after fatal incident

(Reuters) -The National Transportation Safety Board on Wednesday issued an urgent recommendation to operators of 10 Bombardier Learjet airplanes models to ensure main landing gear are attached correctly. The recommendation to the Federal Aviation Administration to mandate compliance manufacturer service bulletins on landing gear would ...
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John Malone to step down as chair of Liberty Media, Liberty Global boards

By Harshita Mary Varghese (Reuters) -Cable TV pioneer John Malone will step down as chair of Formula 1-owner Liberty Media and Liberty Global and become chairman emeritus, the companies said on Wednesday, after a career spanning decades of dealmaking. Liberty Media Vice Chairman Robert Bennett ...
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US appeals court signals $16.1 billion award against Argentina may not stand

By Jonathan Stempel NEW YORK (Reuters) -A U.S. appeals court on Wednesday signaled a willingness to set aside a $16.1 billion judgment against Argentina for seizing control of state-owned oil company YPF in 2012, because the case didn’t belong in the United States. Two judges on ...
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Boeing pushes 777X jet deliveries to 2027 amid certification delays

Boeing reported mixed third-quarter results on Wednesday, as higher aircraft deliveries and a growing backlog of orders were offset by continued certification delays for its 777X jets. CEO Kelly Ortberg said the first delivery of its next generation of long-haul, wide-body jets is now expected ...
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US judges question whether Argentina YPF case belongs in US

NEW YORK (Reuters) -At least two U.S. judges on a panel considering whether Argentina must pay investors $16.1 billion after seizing control of state-owned oil company YPF in 2012 questioned on Wednesday whether the case belonged in the United States. The judges were part of ...
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Exclusive-Germany examines nationalising Rosneft arm after Trump sanctions, say sources

By John O’Donnell and Christoph Steitz BERLIN/FRANKFURT (Reuters) -U.S. sanctions on Russian oil producer Rosneft have rekindled discussions in Germany about nationalising the company’s business there, including a refinery that Berlin depends on for most of its fuel, two sources familiar with the talks told ...
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Morgan Stanley to buy private shares platform EquityZen

By Manya Saini and Tatiana Bautzer (Reuters) -Investment banking giant Morgan Stanley said on Wednesday it will buy private shares platform EquityZen, as Wall Street races to meet growing investor demand for stakes in fast-growing startups. Major financial institutions are increasingly looking beyond public markets, building ...
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