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SAO PAULO (Reuters) -Brazilian miner Vale will announce on Friday a 70 billion real ($12.2 billion) investment to expand its iron ore and copper mining operations at the Carajas complex in northern Brazil, the presidential palace said on Wednesday. The investments will be carried out through 2030, the presidential palace said, adding the announcement will …

Miner Vale to invest $12 billion to expand Carajas site, Brazil government says Read More »

By Jody Godoy (Reuters) -The U.S. Department of Justice will cease defending the independent status of three consumer and worker protection agencies, according to a letter posted by a Democratic member of Congress on Wednesday. The determination applies to the National Labor Relations Board, U.S. Federal Trade Commission and Consumer Product Safety Commission, according to …

US Department of Justice to stop defending independence of FTC, NLRB, letter says Read More »

By David Shepardson WASHINGTON (Reuters) – U.S. Senate Republicans on Wednesday proposed a pair of bills to kill the country’s $7,500 electric vehicle tax credit and impose a new $1,000 tax on EVs to pay for road repairs. Senator John Barrasso, joined by 14 senators including Senate Majority Leader John Thune introduced legislation to repeal …

Senators propose killing US EV tax credit, new $1,000 tax for road repairs Read More »

By Noel Randewich and Shashwat Chauhan (Reuters) – The S&P 500 ended down on Wednesday after a hotter-than-expected U.S. inflation reading added to worries that the Federal Reserve would not cut interest rates anytime soon, while CVS Health and Gilead Sciences rallied after upbeat quarterly reports. Nvidia and Amazon dipped more than 1%, with the …

S&P 500 ends down as hot US inflation data hints at fewer rate cuts Read More »

By Tim Reid, Helen Coster and James Oliphant WASHINGTON (Reuters) – The first phase of the rapid-fire effort by Tesla CEO Elon Musk and President Donald Trump to cut waste from government agencies appears driven more by an ideological assault on federal agencies long hated by conservatives than a good-faith effort to save taxpayer dollars, …

Musk’s DOGE cuts based more on political ideology than real cost savings so far Read More »

By Jaiveer Shekhawat and Manya Saini (Reuters) -Robinhood beat expectations for fourth-quarter profit on Wednesday, driven by a surge in equity, option and crypto trading on its platform following Donald Trump’s return to the White House, sending its shares up more than 14% after the bell. Robinhood’s transaction-based revenue, or income generated from fees for …

Robinhood beats profit estimates as post-election trading frenzy lifts volumes Read More »

By Niket Nishant and Manya Saini (Reuters) – California’s levy of $1 billion on private insurers to help pay out wildfire claims in its state-created safety net program has renewed focus on the challenges the industry faces in a market already losing appeal rapidly, analysts said. Stringent regulations and recurring wildfires have driven some insurers …

California’s $1 billion LA wildfire bill highlights insurers’ struggle, analysts say Read More »

By Kemol King GEORGETOWN (Reuters) – A consortium led by Exxon Mobil has requested environmental permits from Guyana for its eighth project, the first that will generate gas not linked to oil production, and to explore another well at its massive offshore block, the head of the U.S. oil major in Guyana said on Wednesday. …

Exxon seeks permit for its eighth oil, gas project in Guyana as output rises Read More »

(Reuters) -Albemarle, the world’s largest producer of lithium, swung to a quarterly profit as cost cuts helped offset low prices of the electric vehicle battery metal, but adjusted results reported on Wednesday fell short of analysts’ expectations. Shares of the Charlotte, North Carolina-based company rose 2.5% to $78.50 in after-hours trading. Albemarle, like many of …

Cost cuts help Albemarle’s results offset low lithium prices Read More »