Business

Joan Cros / NurPhoto / Getty Images Key Takeaways Microsoft on Monday announced a $60 billion stock buyback program and a 10% boost to its quarterly dividend. The moves come as Microsoft faces pressure to show its spending on artificial intelligence (AI) is paying off. Microsoft unveiled new AI features …

Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on November 01, 2023 at the Federal Reserve in Washington, DC. The Federal Reserve left interest rates unchanged at a range of 5.25 percent to 5.50 percent, keeping rates the highest they …

Stocks have a positive outlook for the next 12 months, Fundstrat’s Tom Lee said.JOHANNES EISELE/Getty Images Stocks are set to climb higher for at least the next few weeks, according to Fundstrat’s Tom Lee. Lee pointed to the Fed’s policy meeting, with markets expecting a rate cut on Wednesday. A …

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(Bloomberg) — Microsoft Corp. unveiled a new $60 billion stock-buyback program, matching its largest-ever repurchase authorization, and raised its quarterly dividend 10%. Most Read from Bloomberg The software company said shareholders as of Nov. 21 will receive a quarterly dividend of 83 cents a share, compared with the current 75 …

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By Max A. Cherney (Reuters) -Intel (INTC) and Amazon’s (AMZN) AWS said on Monday they would expand their collaboration, including a co-investment in custom chip designs, under a multi-year, multi-billion-dollar framework. Intel’s shares were up 9% in extended trading. Intel CEO Pat Gelsinger released a memo to employees announcing that …

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Red Lobster, known for its affordable seafood and cheddary biscuits, has exited Chapter 11 bankruptcy protection. A U.S. bankruptcy judge approved the casual seafood chain’s reorganization plan earlier this month, which included a lender group led by asset manager Fortress Investment Group acquiring the business. The green light arrives under …

NEW YORK (Reuters) – The Federal Reserve will likely not cut U.S. interest rates as deeply as the bond market expects due to a resilient economy and inflation remaining sticky, the BlackRock Investment Institute said in a note on Monday. The U.S. central bank is expected to cut interest rates …