Reuters US Business

By Akash Sriram (Reuters) – Nikola said on Wednesday it had filed for Chapter 11 bankruptcy protection and would pursue a sale of its assets, the latest electric-vehicle maker to stumble after grappling with tepid demand, rapid cash burn and funding challenges. The development ends a challenging journey, which included several leadership changes, plummeting share …

Nikola goes bankrupt, to sell assets in latest EV market turmoil Read More »

(Reuters) – General Motors CFO Paul Jacobson said on Wednesday at a Barclays conference that if U.S. tariffs became permanent, the company would have to consider moving plants, but also said it had not made those decisions yet.  GM and other automakers are closely monitoring how tariffs on vehicles and parts from Canada, Mexico and …

GM CFO says if US tariffs are permanent, company must consider plant locations Read More »

(Reuters) – Chipotle Mexican Grill will hire 20,000 additional employees for the period of March to May as the company gears up to cater to a surge in demand for its so-called “burrito season” during spring. Demand for Chipotle’s premium burritos and bowls has been stable, even as value-seeking diners have tempered their spending on …

Chipotle Mexican Grill to hire 20,000 additional workers for ‘burrito season’ Read More »

(Reuters) – Analog Devices topped first-quarter Wall Street expectations for revenue and profit on Wednesday, driven by a recovery in chip demand, particularly in the consumer segment, sending its shares up 4%. The company provides semiconductors to a variety of industries including aerospace, automotive, communications, digital healthcare and industrial automation. Wilmington, Massachusetts-based Analog Devices’ consumer …

Analog Devices beats first-quarter revenue estimates as chip demand recovers Read More »

(Reuters) -Coach parent Tapestry will sell its Stuart Weitzman brand to Dr Scholl’s footwear owner Caleres for $105 million in cash, the companies said on Wednesday. The divestment comes months after Tapestry said it was focused on driving growth for its organic business and had “significant runway ahead” following a derailed $8.5 billion merger deal …

Coach parent Tapestry to sell Stuart Weitzman footwear brand for $105 million Read More »

(Reuters) – Elon Musk’s X social media platform is in talks to raise money from investors at a $44 billion valuation, Bloomberg News reported on Wednesday, citing people familiar with the matter. Musk bought X, formerly Twitter, for the same price in 2022, but some investors including Fidelity Investments have sharply written down the value …

Musk’s X in talks to raise money at $44 billion valuation, Bloomberg News reports Read More »

By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve officials remain uncertain about the impact tariffs might have on inflation, but have begun outlining more serious risks to supply chains, public expectations and ultimately prices as the scope of the Trump administration’s plans for import taxes has become clearer. The trade war touched off during …

Fed concerns rise as tariff threats ratchet higher and wider Read More »