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Uber bets on loyalty program to drive growth, unveils $20 billion buyback plan

(Reuters) -Uber unveiled a $20 billion stock buyback program and forecast its third-quarter bookings above Wall Street estimates on Wednesday, as the ride-hailing and delivery services company benefits from growing adoption of its paid loyalty program. The company said members for its $9.99 “Uber One” ...
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Michael Kors owner Capri posts smaller-than-expected revenue drop

(Reuters) -Capri Holdings posted a smaller-than-expected drop in quarterly revenue on Wednesday, helped by improving demand for the Michael Kors owner’s luxury handbags and footwear despite a broader retail slowdown. Its shares shot up about 10% in premarket trading. Investors have been hoping for signs of ...
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Disney tops earnings forecasts with streaming gains, raises guidance

By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Walt Disney posted better-than-expected results for April through June and raised its full-year earnings guidance on Wednesday as the company’s streaming television profit grew and U.S. theme park visitors increased their spending. Adjusted earnings per share rose ...
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Edmunds: The best used hybrid sedans for under $25,000

Everybody wants to save money. Buying a lightly used car instead of a new car is one way to do that. Choosing a fuel-efficient hybrid model is another way. Combine those approaches, and you might be surprised to discover what you can drive even ...
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OpenAI’s long-awaited GPT-5 model nears release

By Anna Tong SAN FRANCISCO (Reuters) -OpenAI’s GPT-5, the latest installment of the AI technology that powered the ChatGPT juggernaut in 2022, is set for an imminent release, and users will scrutinize if the step up from GPT-4 is on par with the research lab’s ...
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Bath & Body Works targets college bookstores to woo young buyers

By Nicholas P. Brown NEW YORK (Reuters) -Bath & Body Works is going to college.  Students at hundreds of U.S. universities will soon be able to buy the company’s fragrances, candles and other items at campus bookstores, in a departure from the beauty retailer’s long-held business ...
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India braces for hit to $64 billion US exports amid rising tensions with Washington

By Nikunj Ohri, Sarita Chaganti Singh and Shivam Patel NEW DELHI (Reuters) -India expects to lose a competitive advantage in about $64 billion worth of goods exported to the U.S. due to President Donald Trump’s 25% tariff and an assumed 10% penalty for buying Russian oil, ...
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Siemens Energy plans cost cuts, offshore ramp-up to break even wind unit

FRANKFURT (Reuters) -Siemens Energy is banking on further cost cuts and an ongoing ramp-up of offshore wind activities to meet its goal of breaking even at its loss-making Siemens Gamesa unit, executives told analysts on Wednesday after presenting quarterly results. Siemens Gamesa, the company’s wind ...
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AMD, Super Micro shares slide as AI bets falter on data center results miss

(Reuters) -Shares of chip company Advanced Micro Devices and server maker Super Micro Computer tumbled in premarket trading on Wednesday after the companies posted underwhelming results in their data center segments, shaking investor confidence in their AI growth narratives. AMD dropped nearly 5%, while Super ...
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Snap sinks as ad glitch, fierce competition stall growth

(Reuters) -Snap shares plummeted nearly 17% in premarket trading on Wednesday as a weak quarter and mounting competition underscored the company’s struggle to keep pace with AI-driven peers. Advertisers have been curtailing marketing budgets amid economic uncertainty and leaning toward bigger platforms like TikTok and ...
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Exclusive-US lawmaker questions Intel CEO’s ties to China in letter to company board chair

By Max A. Cherney SAN FRANCISCO (Reuters) -U.S. Republican Senator Tom Cotton sent a letter to Intel’s board chair on Wednesday with questions about the chipmaker’s new CEO Lip-Bu Tan’s ties to Chinese firms and a recent criminal case involving his former company Cadence Design. Writing ...
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Euro zone retail sales grow quicker than thought after revisions

FRANKFURT (Reuters) -Euro zone retail sales grew quicker than thought in June, data showed on Wednesday, reinforcing views that the bloc remains resilient to trade uncertainty thanks to the continued rebound in domestic consumption. Retail sales in the 20 nations sharing the euro currency ...
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