Reuters US Business

Yellen says Trump’s plan for new revenue agency won’t save money for taxpayers

16 Jan 2025

By Andrea Shalal NEW YORK (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday U.S. President-elect Donald Trump’s plan to set up a new government agency to collect tariffs would duplicate an existing agency and was unlikely to save money. Yellen, taping an appearance on “The Late Show with Stephen Colbert,” dismissed Trump’s plan …

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Wall St surges as inflation data, bank earnings fuel rally

16 Jan 2025

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks surged on Wednesday, with all three major indexes registering their biggest daily percentage gains in more than two months, as lower-than-expected December core inflation data and solid earnings from major U.S. banks fueled a rally. The Labor Department said the consumer price index (CPI) increased the …

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Colonial Pipeline’s main US gasoline artery likely shut until Friday

16 Jan 2025

By Shariq Khan NEW YORK (Reuters) – Colonial Pipeline’s main U.S. gasoline artery is expected to remain shut through Friday as the company continues to search for the source of a suspected leak in Paulding County, Georgia, the company said in a statement on Wednesday. Line 1, one of two mainlines on the more than …

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Ackman’s Pershing Square requests UMG to move secondary listing to US

16 Jan 2025

(Reuters) – Universal Music Group said on Wednesday that billionaire Bill Ackman-led Pershing Square has exercised its right to request an offering and secondary listing of the record label in the United States. In November, Ackman said he would seek to relocate both his own investment firm Pershing Square and UMG – whose roster of …

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Canada could slap tariffs on C$150 billion worth of US imports, source says

16 Jan 2025

OTTAWA (Reuters) – Canada could impose countermeasures on up to C$150 billion worth of U.S. imports if President-elect Donald Trump puts tariffs on Canadian goods and services, a source familiar with the matter said on Wednesday. Canada has drawn up a list of targets but would hold public consultations before acting, said the source, adding …

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Japan firms face serious labour crunch from aging population, survey shows

16 Jan 2025

TOKYO (Reuters) – Two-thirds of Japanese companies are experiencing a serious business impact from a shortage of workers, a Reuters survey showed on Thursday, as the country’s population continues to shrink and age rapidly. Labour shortages in Japan, particularly among non-manufacturers and small firms, are reaching historic levels, the government has said, stoking concerns that …

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DuPont to no longer separate water business, moves ahead with electronics spinoff

16 Jan 2025

(Reuters) – Industrial materials maker DuPont said on Wednesday it no longer intends to separate its water business into a publicly traded company, but said it would go ahead with the spinoff of its electronics business. The decision comes months after the company revealed plans to split into three publicly traded companies, in a tax-free manner, …

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Microsoft launches Copilot Chat for businesses to boost AI adoption

16 Jan 2025

(Reuters) – Microsoft on Wednesday rolled out a chat service allowing businesses to use on-demand AI agents for routine tasks, betting on the pay-as-you-go model to drive up the adoption of the technology. The free service, Copilot Chat, which uses OpenAI’s GPT-4, lets users create AI agents using natural languages such as English and Mandarin …

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