Reuters US Business

By Melanie Burton MELBOURNE (Reuters) – Australia’s Lynas has the rare earths the West needs and the skills to economically produce them, CEO Amanda Lacaze said, adding that tapping existing resources was much easier than developing anew in other countries. Lacaze’s comments come after sources said there had been agreement on the terms of a …

Australia’s Lynas to Trump: We have the rare earths the West needs Read More »

By Dan Catchpole SEATTLE (Reuters) – Boeing commercial airplanes head Stephanie Pope will focus on the recovery of the company’s crucial and challenged plane-making unit under a reorganization that ends her role as the company’s chief operating officer but leaves her as the No. 2 executive. The move narrows the focus and responsibility of Pope. …

Boeing No. 2 executive’s role narrowed to focus on fixing commercial plane unit Read More »

(Reuters) -Meta Platforms is in discussions to construct a new data center campus for its artificial intelligence projects, with potential costs exceeding $200 billion, The Information reported on Tuesday, citing people familiar with the matter. Meta executives have informed data center developers that the company is considering building the campus in states including Louisiana, Wyoming …

Meta in talks for $200 billion AI data center project, The Information reports Read More »

By Byron Kaye and Himanshi Akhand (Reuters) – Top Australian supermarket chain Woolworths said first-half profit fell the most in a decade as rising living costs spurred bargain-hunting and a warehouse strike left shelves bare, and warned the austerity would weigh on future results. Underlying profit before one-off items tumbled by one-fifth in the six …

Strike, discounting hit H1 profit for Australia’s Woolworths Read More »

By Zaheer Kachwala (Reuters) – Electric-vehicle maker Lucid Group said on Tuesday that Peter Rawlinson, its CEO for over 5 years, is stepping down from the role, and forecast its vehicle production will more than double this year, sending the company’s shares up 10% in extended trading. Through his 12-year tenure as part of the …

Lucid CEO steps down, company expects to more than double vehicle production this year Read More »

By Stephen Culp (Reuters) – U.S. stocks struggled on Tuesday, with the S&P 500 and the Nasdaq touching one-month lows as a dour consumer confidence report put mounting economic uncertainties into sharp relief. The S&P 500 and the Nasdaq both notched their fourth consecutive sessions in the red, while the Dow ended the day modestly …

Wall Street ends mixed in the face of mounting uncertainties Read More »

By David Lawder and Andrea Shalal WASHINGTON (Reuters) – President Donald Trump opened yet another front on Tuesday in his assault on global trade norms, ordering a probe into potential new tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods. …

Trump orders new tariff probe into US copper imports Read More »

By Pete Schroeder WASHINGTON (Reuters) – U.S. banking sector profits rose 2.3% to $66.8 billion in the fourth quarter of 2024, a bank regulator reported on Tuesday, as it also announced moves to update how so-called problem banks are tracked. In its latest quarterly report, the Federal Deposit Insurance Corporation said it is revising its …

US bank profits climb as regulator adjusts ‘problem bank’ tracking Read More »

(Reuters) -Bank of America has scrapped some of its diversity initiatives as it navigates a new business climate under U.S. President Donald Trump. The second largest U.S. lender dropped references to its diversity hiring goals and a rule requiring hiring managers to consider a diverse group of candidates, according to an annual filing on Tuesday. …

BofA scraps diversity goals for hiring and interviewing candidates Read More »