By David Shepardson WASHINGTON (Reuters) -Honda Motor said on Wednesday it will boost its investments in three Ohio auto plants by $300 million to have flexibility to build EVs, hybrids and gas-powered vehicles on the same assembly line. The Japanese automaker in 2022 had announced plans to invest $700 million in three plants but is …
Honda boosting investment in three Ohio auto plants by $300 million Read More »
(Reuters) – Ameriprise Financial reported a 24% rise in fourth-quarter profit on Wednesday, driven by a higher fee income as the value of its clients’ assets increased due to a market rally. The U.S. markets rallied on Federal Reserve’s interest rate cuts and they were further boosted by business-friendly comments from President Donald Trump, who …
Ameriprise Financial’s quarterly profit rises as market rally boosted its fee income Read More »
(Reuters) – Data storage products maker Western Digital Corp forecast third-quarter revenue below Wall Street estimates on Wednesday, as it expects decreased demand from cloud and corporate customers. High borrowing costs and economic uncertainty have forced businesses to reduce investments, significantly impacting demand for memory chips after a pandemic-driven boom, hurting companies such as Western Digital. …
Western Digital expects third-quarter revenue below estimates on weak demand Read More »
(Reuters) – Chipmaker Wolfspeed topped Wall Street estimates for second-quarter revenue and reported a smaller-than-expected net loss on Wednesday, as the company made operational changes to accelerate its profitability. The company closed down some of its facilities in the first quarter of 2025 and transitioned its device business to a 200-millimeter silicon carbide fab, which …
Wolfspeed beats Q2 revenue as business transition takes hold Read More »
(Reuters) – Global freight forwarder CH Robinson’s fourth-quarter profit beat analysts’ estimates on Wednesday, aided by cost cuts and strong demand in ocean and air shipment. The company’s ocean services business focuses on managing freight costs and optimizing shipping routes, while ensuring compliance with international regulations for carriers and helping them navigate complexities of international …
CH Robinson beats Q4 profit estimates on cost cuts Read More »
By Curtis Williams HOUSTON (Reuters) – Venture Global LNG could finish power generator repairs by the end of February, a federal inspection report said on Wednesday, potentially clearing the way for the almost three-year commissioning of the Calcasieu Pass LNG plant to reach completion. Venture Global is the most valuable U.S. LNG company following its …
Venture Global LNG almost finished repairs to Calcasieu Pass power plant -FERC Read More »
By Jonathan Stempel (Reuters) – Amazon.com was sued on Wednesday by consumers who accused the retailing giant of secretly tracking their movements through their cellphones, and selling data it collects. According to a proposed class action in San Francisco federal court, Amazon obtained “backdoor access” to consumers’ phones by providing tens of thousands of app …
Lawsuit accuses Amazon of secretly tracking consumers through cellphones Read More »
By Manya Saini (Reuters) -Crypto exchange Coinbase on Wednesday added four high-profile members to its global advisory council, including former U.S. Senator Kyrsten Sinema and Chris LaCivita, co-campaign manager for President Donald Trump’s re-election. Drafting a framework for the growth of the crypto sector has been a top priority for the Trump administration after years …
Coinbase adds Trump campaign manager, ex-senator to advisory council Read More »
By Prakhar Srivastava (Reuters) -Property and casualty insurance company Progressive Corp reported a 19% rise in its fourth-quarter profit on Wednesday, driven by strong demand for personal auto insurance policies. WHY IT’S IMPORTANT Insurance spending has remained resilient, as businesses and individuals prioritize coverage to protect against risks. This helped insurers attract and retain customers, …
Progressive’s quarterly profit rises on strong insurance demand Read More »
WASHINGTON (Reuters) – U.S. President Donald Trump’s nominee for Commerce secretary Howard Lutnick said on Wednesday that the Biden-era subsidies for U.S. semiconductor manufacturing are an “excellent down payment” but need review. “I think they’re an excellent down payment as a structure. I think we need to get it right,” Lutnick told a confirmation hearing …
Trump’s Commerce secretary pick says Biden-era chips investments need review Read More »
