Monetary Elite

By Ananya Mariam Rajesh and Juveria Tabassum Best Buy is set to post its tenth consecutive quarter of sales decline on Thursday when the U.S. electronics retailer reports quarterly results, as spending on big-ticket electronics remains pressured despite easing inflation. Although results from big-box retailers Walmart and Target indicate that consumers have resumed spending on…

(Reuters) – Merck on Wednesday agreed to acquire privately held biotech EyeBio for as much as $3 billion, the latest in a string of deals by the US drugmaker to bolster its future growth. It agreed to pay $1.3 billion in cash and another $1.7 billion in future milestone-based payments for EyeBio, and will gain…

(Reuters) – BlackRock’s iShares Bitcoin Trust has become the world’s largest fund for the original cryptocurrency, racking up nearly $20 billion in total assets since listing in the U.S. at the start of the year, Bloomberg News reported on Wednesday. The exchange-traded fund held $19.68 billion of token on Tuesday, overtaking Grayscale Bitcoin Trust’s $19.65…

WASHINGTON (Reuters) – Donald Trump is considering tapping billionaire Elon Musk as a policy adviser if the Republican presidential candidate reclaims the White House in November’s election, the Wall Street Journal reported on Wednesday, citing people familiar with the talks. The two have discussed ways for Musk, who runs the social media platform X as…

(Reuters) -Activist investor Elliott Investment Management disclosed a $2.5 billion stake in analog chipmaker Texas Instruments and urged the chipmaker to improve its free cash flow. Texas Instrument’s shares rose about 3% in early trading. Elliott proposed in a letter to the company’s board that Texas Instruments introduce a “dynamic capacity-management strategy”, which would allow…

(Reuters) – Verizon said on Tuesday that it added Comcast’s Peacock to its streaming subscription hub and plans to offer YouTube Premium at a discounted rate with myPlan subscriptions. The telecom firm said it will offer YouTube Premium for $10 per month, offering savings of 30% to myPlan customers, starting Thursday. Peacock streaming service, under…

By Zaheer Kachwala (Reuters) – Nvidia’s shares rallied around 6% to hit a record high on Tuesday, leaving the AI chipmaker’s stock market value about $100 billion away from overtaking Apple in a major reshuffle of Wall street’s biggest players. Last trading at $1,128, Nvidia’s market capitalization reached $2.8 trillion, compared to a market value…

(Reuters) – American Airlines on Tuesday cut its second-quarter profit forecast, sending the shares of the carrier down about 4% in aftermarket trading. The company now expects second-quarter adjusted earnings per diluted share to be between $1.00 and $1.15, down from its previous expectations of between $1.15 and $1.45 per share. It now expects total…

By Emily Chow PERTH, Australia (Reuters) – Shell expects its Australian supplies of liquefied natural gas (LNG) to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade. Asian spot LNG prices rose last week…

WASHINGTON (Reuters) – U.S. Capitol Police were investigating a suspicious substance Wednesday on a street near the Capitol and where the Republican National Committee headquarters are located, the police said in a statement. The authorities have closed off First Street SE between C and D streets and directed staff and other personnel to avoid the…