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(Reuters) – Memory chipmaker Western Digital Corp forecast first-quarter revenue below Wall Street targets and a bigger-than-expected loss on Monday as weak demand, particularly for its cloud business, forces it to cut production. The company said it expects its current-quarter loss to include a charge of about $200 million to $220 million for underutilization of its factories. Western Digital forecast its adjusted loss per share to be in the range […]

MAIDUGURI, Nigeria (Reuters) – Islamist militants have beheaded at least 10 farmers in Nigeria’s northern state of Borno after attacking their farms, residents said on Monday. Last week, militants killed at least 25 people and wounded others in attacks on two villages in Borno state, a hotbed for insurgency and the center of a more than a decade-long insurgency in Nigeria that has spilled into neighbouring Chad and Cameroon. Abubakar […]

By Chibuike Oguh NEW YORK (Reuters) – Shares of SoFi Technologies Inc rose by more than 22% on Monday, hitting highest level in more than a year, after the financial services provider reported second quarter results that beat analyst expectations. SoFi’s total net revenue rose 37% to $498 million, driven by strong growth in personal loan originations that allowed its net interest income (NII) to more than double to $291.1 […]

By Hugh Lawson LONDON (Reuters) – England captain Ben Stokes said on Monday that he had drawn on his natural optimism and experience as a player to help cope with the mental pressure of guiding England to a 2-2 draw in the Ashes series against Australia. England secured a dramatic 49-run win in the final test at The Oval, bagging seven wickets late in the afternoon to deprive the visitors […]

(Reuters) – Arista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artificial intelligence (AI) applications. Shares of the Santa Clara, California-based company surged 11.7% to $173.24 in after-market trading. The third-quarter forecast underscores robust demand from customers including Microsoft and Meta Platforms as they snap up Arista’s latest 7800 series of switches designed […]

MEXICO CITY (Reuters) – Mexico and the United States have agreed to a remediation plan over alleged worker rights abuses at a Draxton auto parts plant in Mexico, Mexican officials said on Monday, marking the latest labor complaint to be closed under a regional trade deal. The U.S. government in May asked Mexico to review whether rights were being violated at Draxton Mexico in the central city of Irapuato. Since […]

WASHINGTON (Reuters) – U.S. President Joe Biden on Monday notified the Department of Defense that he has selected Colorado Springs as the permanent location of the U.S. Space Command Headquarters, the U.S. military said in a statement. (Reporting by Kanishka Singh in Washington; Editing by Chris Reese) Brought to you by www.srnnews.com

By Jonathan Landay and Mohammad Yunis Yarwar WASHINGTON/KABUL (Reuters) – U.S. officials told Afghanistan’s Taliban that Washington was open to technical talks on economic stability and discussions on combating narcotics trafficking, the U.S. State Department said on Monday following two days of talks in Qatar. Taliban officials raised the lifting of travel and other restrictions on Taliban leaders and the return of Afghan central bank assets held abroad, the Kabul […]

(Reuters) – Tenet Healthcare Corp on Monday raised its annual profit forecast after a strong second quarter, betting on a recovery in surgical procedure volumes, sending its shares up 3% in extended trading. The hospital operator sees its 2023 core earnings in the range of $3.31 million to $3.46 million, compared with its previous forecast of $3.2 million to $3.4 million. It expects to adjusted profit per share in the […]