Reuters US Business

BENGALURU/BEIJING/BRASILIA (Reuters) – Space is about to get more crowded for Elon Musk. The billionaire’s Starlink communications network is facing increasingly stiff challenges to its dominance of high-speed satellite internet, including from a Chinese state-backed rival and another service financed by Amazon.com founder Jeff Bezos.  Shanghai-based SpaceSail in November signed an agreement to enter Brazil …

Analysis-Chinese rivals to Musk’s Starlink accelerate race to dominate satellite internet Read More »

(Reuters) – Fast-food restaurant chain Jack in the Box said on Monday its CEO, Darin Harris, is stepping down but will remain as a consultant through March 14. Harris, who has been at the helm for nearly five years, has accepted a new position outside of the restaurant industry, the company said. Jack in the …

Restaurant chain Jack in the Box’s CEO Darin Harris resigns Read More »

(Reuters) -Chevron said on Monday it would reorganize some of its business structures and reshuffle the leadership team, the latest move by the U.S. energy major to simplify its operations. The company has said it would lay off up to 20% of its global workforce by the end of 2026, as it navigates cost overruns …

Chevron reorganizes business structure, reshuffles leadership Read More »

By Shariq Khan (Reuters) -Oil prices settled higher on Monday as fresh U.S. sanctions on Iran and a commitment to compensate for overproduction by Iraq added to concerns of near-term supply tightness, helping the market recover some of Friday’s steep losses. Brent crude futures settled up 35 cents, or 0.5%, at $74.78 a barrel. U.S. …

Oil settles higher on fresh Iran sanctions, Iraq commitment to OPEC+ Read More »

MOSCOW (Reuters) – Russian President Vladimir Putin held a meeting with officials on Monday to discuss rare earth metals production, which he described as a strategic reserve vital for Russia’s future competitiveness and economic development, the Kremlin said. Putin highlighted the national project ‘New Materials and Chemistry,’ launched this year to enhance the domestic industry …

Putin holds meeting on rare earth metals, aims to significantly boost output Read More »

By Stephen Nellis (Reuters) -Apple said on Monday it would spend $500 billion in U.S. investments in the next four years that will include a giant factory in Texas for artificial intelligence servers and add about 20,000 research and development jobs across the country in that time. That $500 billion in expected spending includes everything …

Apple plans $500 billion in US investment, 20,000 research jobs in next four years Read More »

TORONTO (Reuters) – Canada’s big six banks are expected to build more credit loss provisions as they brace for uncertainty surrounding the U.S. tariff threat, analysts said, potentially weighing on first quarter earnings and beyond. The banks have already been putting aside more funds to cover any souring loans due to continued high Canadian unemployment, …

Canadian banks expected to build reserves to cushion tariff uncertainty Read More »