Elon Musk revives lawsuit against Sam Altman and OpenAI, NYT reports

Billionaire Elon Musk has revived a lawsuit against ChatGPT-maker OpenAI and its CEO Sam Altman, alleging that the firm put profits and commercial interests ahead of the public good, the New York Times reported on Monday.

Tyson Foods surpassed Wall Street expectations for third-quarter revenue and profit on Monday, indicating that demand was rebounding for its meat products, while lower grain prices reduced costs for animal feed.

Stock markets across the world tumbled as fears of a U.S. recession sent investors fleeing from risk while wagering that rate cuts would be needed to rescue growth.

Taiwan stocks plunged a record 8.4% on Monday, with tech stocks including TSMC sliding as investors spooked by a poor outlook for the U.S. economy sold off one of Asia’s top performing markets.

Logitech International co-founder Daniel Borel on Monday urged shareholders at the Swiss-American company to find a new board chairperson this year to replace Wendy Becker, who recently announced she would not stand for reelection in 2025.

Shares of Pringles maker Kellanova surged more than 16% in trading before the bell on Monday, after a Reuters report said candy giant Mars was exploring a potential buyout of the company.

A look at the day ahead in European and global markets from Wayne Cole.

U.S. Treasury yields tumbled on Monday as traders moved to price in big rate cuts from the Federal Reserve, after weak jobs data stoked worries that the U.S. economy could be heading for a recession.

Semiconductor startup Groq said on Monday it has raised $640 million in a Series D funding round led by Cisco Investments, Samsung Catalyst Fund and BlackRock Private Equity Partners, among others, bringing its valuation to $2.8 billion.

Engineering firm Honeywell Automation reported higher first-quarter profit on Monday, aided by execution of existing orders.

Reuters Business is sent every weekday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.

Want to stop receiving this email? Unsubscribe here. To manage which newsletters you’re signed up for, click here.

Reuters Terms & Conditions and Privacy Statement