'Crypto hangover' hammers Nvidia's outlook, shares drop 17 percent

(Reuters) – Chip designer Nvidia Corp (NVDA.O) on Thursday forecast disappointing sales for the holiday quarter, pinning the blame on unsold chips piling up with distributors and retailers after the evaporation of the cryptocurrency mining boom. The Santa Clara, California-based company also posted sales that missed expectations for its third quarter. Shares plunged nearly 17 percent in late trading to […]

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Nvidia shares slide 17 percent as cryptocurrency demand vanishes

(Reuters) – Chip designer Nvidia Corp (NVDA.O) on Thursday forecast sales for its fiscal fourth quarter well below Wall Street expectations, pinning the blame on unsold chips piling up with distributors and retailers after the evaporation of the cryptocurrency mining boom. The Santa Clara, California-based company also posted sales that missed expectations for its third quarter. Shares plunged nearly 17 […]

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U.S. sanctions 17 Saudis over killing of journalist Khashoggi

WASHINGTON (Reuters) – The U.S. Treasury imposed sanctions on 17 Saudi officials on Thursday for their role in the killing last month of Jamal Khashoggi at the Saudi Arabian consulate in Istanbul, Turkey, the first concrete response by the Trump administration to the journalist’s death. Among those sanctioned were Saud al-Qahtani, who has been removed from his position as a […]

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'Not enough room': migrant flows strain Mexican border shelters

TIJUANA, Mexico (Reuters) – The arrival in the Mexican border city of Tijuana of the first few hundred travelers from migrant caravans is stretching to the limit shelters already overflowing with people, and sparking signs of friction among the population. Lugging heavy bundles and small children, an unprecedented caravan of thousands of mostly Honduran migrants set off for the United […]

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Cisco revenue, profit beat estimates

(Reuters) – Cisco Systems Inc reported quarterly revenue and profit that beat Wall Street estimates on Wednesday, lifted by growth across its traditional business of routers and switches, as well as in its newer focus areas such as cyber security and software. The company has pivoted to software and cyber security as sales of its routers and switches that send […]

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Draft Brexit deal ends Britain's easy access to EU financial markets

LONDON (Reuters) – The United Kingdom and the European Union have agreed a deal that will give London’s vast financial center only a basic level of access to the bloc’s markets after Brexit. The agreement will be based on the EU’s existing system of financial market access known as equivalence – a watered-down relationship that officials in Brussels have said […]

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U.N. bemoans lack of funding for African anti-jihadist force

PARIS (Reuters) – International donors have disbursed less than half of what they had pledged for a regional force fighting to contain West African jihadists, hampering its efforts as insecurity spreads across the region, a United Nations report said. A February conference of about 50 countries including the United States, Japan and Norway pledged 415 million euros ($470 million) for […]

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France says Trump should have shown 'decency' on Paris attacks anniversary

PARIS (Reuters) – U.S. President Donald Trump, who attacked his French counterpart in a series of tweets on Tuesday, should have shown “common decency” instead since the country was mourning the anniversary of deadly attacks in Paris, a French government spokesman said. In five posts sent on the same day France marked the anniversary of the 2015 attacks that killed […]

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Tencent profit beats on investment gain, no progress on China gaming

HONG KONG (Reuters) – Tencent (0700.HK) beat third-quarter profit forecasts on Wednesday but gave no update on a regulatory block in China, the world’s largest gaming market, that has damaged its core business. China has imposed tougher rules on the gaming industry, including a halt to new game approvals as part of a regulatory overhaul and calls to tackle addiction […]

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