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KPMG exits US federal audit business after losing Pentagon contract, FT reports

KPMG exits US federal audit business after losing Pentagon contract, FT reports

April 29 (Reuters) - Big Four firm KPMG is shutting its federal government audit business and will redeploy more than 450 U.S. staff after losing a $60 million-a-year contract with the Pentagon, the Financial Times reported on Wednesday, citing sources. KPMG had audited the U.S.
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General Dynamics beats quarterly estimates on marine, aerospace strength

General Dynamics beats quarterly estimates on marine, aerospace strength

April 29 (Reuters) - General Dynamics on Wednesday beat Wall Street estimates for first-quarter profit and revenue driven by continued strength in its marine and aerospace segments, sending the company's shares up nearly 5% before the bell.
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White House drafts guidance to bypass Anthropic's risk flag for new AI models, Axios reports

White House drafts guidance to bypass Anthropic's risk flag for new AI models, Axios reports

April 28 (Reuters) - The White House is developing guidance that could allow federal agencies to sidestep Anthropic's supply-chain risk designation and onboard new artificial intelligence models, including Mythos, Axios reported on Tuesday. 
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Avis Budget heads for sixth straight day of declines after quarterly loss

Avis Budget heads for sixth straight day of declines after quarterly loss

April 29 (Reuters) - Shares of Avis Budget were on track for a sixth straight session of declines on Wednesday after the car-rental firm reported a second consecutive quarterly loss and a major investor cut its stake in the company.
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AbbVie tops quarterly expectations as newer immunology drugs offset Humira decline

AbbVie tops quarterly expectations as newer immunology drugs offset Humira decline

April 29 (Reuters) - AbbVie on Wednesday reported better-than-expected quarterly revenue and profit, fueled by demand for newer immunology drugs Skyrizi and Rinvoq, as the drugmaker continues to navigate its transition away from its once-blockbuster drug, Humira.
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Humana reports quarterly beat, unchanged forecast underwhelms market

Humana reports quarterly beat, unchanged forecast underwhelms market

By Sriparna Roy and Sneha S K April 29 (Reuters) - Humana on Wednesday beat quarterly earnings estimates due to tighter control over medical costs, but kept its annual adjusted profit forecast unchanged unlike rivals who raised theirs.
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Seaport, Hemab launch US IPOs as biotech listings gather momentum

Seaport, Hemab launch US IPOs as biotech listings gather momentum

April 27 (Reuters) - Drug developers Seaport Therapeutics and Hemab Therapeutics launched their U.S. initial public offerings on Monday, seeking to capitalize on a growing investor appetite for new listings. The U.S.
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Google signs classified AI deal with Pentagon, The Information reports

Google signs classified AI deal with Pentagon, The Information reports

April 28 (Reuters) - Alphabet's Google joined a growing list of technology firms to sign a deal with the U.S. Department of Defense to use its artificial intelligence models for classified work, The Information reported on Tuesday, citing a person familiar with the matter.
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US stock index futures fall as Middle East stalemate keeps oil risks in focus

US stock index futures fall as Middle East stalemate keeps oil risks in focus

April 28 (Reuters) - Futures tracking the benchmark S&P 500 and the tech-heavy Nasdaq 100 indexes fell early on Tuesday as concerns mounted that the U.S.-Iran impasse could keep oil prices elevated for longer. At 5:36 a.m.
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Meta prepares to undo Manus acquisition after China ban, WSJ reports

Meta prepares to undo Manus acquisition after China ban, WSJ reports

April 27 (Reuters) - Meta Platforms is preparing to unwind its acquisition of artificial intelligence startup Manus after China blocked the deal on national security grounds, the Wall Street Journal reported on Monday, citing people familiar with the matter.
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AI stocks slide after report sparks OpenAI growth concerns

AI stocks slide after report sparks OpenAI growth concerns

By Twesha Dikshit April 28 (Reuters) - AI firms fell in premarket trading on Tuesday after the Wall Street Journal reported that OpenAI has missed its goals for new users and revenue in recent months, raising concerns over the ChatGPT creator's growth prospects.
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Sun Pharma to buy US drugmaker Organon for $11.75 billion in India's largest pharma deal

Sun Pharma to buy US drugmaker Organon for $11.75 billion in India's largest pharma deal

By Kashish Tandon and Rishika Sadam April 26 (Reuters) - Sun Pharmaceutical Industries will buy U.S. drugmaker Organon & Co in an all-cash deal valued at about $11.75 billion including debt, for the largest overseas acquisition by an Indian pharmaceutical company.