Reuters US Business

By Timothy Gardner WASHINGTON (Reuters) -Chris Wright, President-elect Donald Trump’s pick to head the U.S. Energy Department, told U.S. senators in his confirmation hearing on Wednesday his first priority is expanding domestic energy production including liquefied natural gas and nuclear power. Wright, 60, believes fossil fuels are the key to ending world poverty, which is …

Trump’s energy department pick calls for more LNG and nuclear power Read More »

By Howard Schneider, Michael S. Derby ANNAPOLIS, Maryland (Reuters) -Federal Reserve officials said data released on Wednesday showed U.S. inflation was continuing to ease even as they noted heightened uncertainty in the coming months as they await a first glimpse of the incoming Trump administration’s policies. The final read on the Consumer Price Index for …

Fed officials say latest inflation data helpful as they await Trump policies Read More »

By Leah Douglas and Jonathan Stempel (Reuters) -The U.S. Federal Trade Commission on Wednesday sued farm equipment maker Deere, alleging it illegally drives up repair costs by forcing farmers to rely on its authorized dealer network. The lawsuit argues Deere has unlawfully boosted profits by requiring farmers to use its network of authorized dealers for …

US FTC sues Deere over equipment repair restrictions Read More »

By Arasu Kannagi Basil, Nivedita Balu and Nupur Anand (Reuters) -Wells Fargo’s profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%. The bank said that it has a solid pipeline in its investment banking business …

Wells Fargo raises interest income forecast as strong dealmaking drives profit beat Read More »

By Carolina Mandl NEW YORK (Reuters) – Global hedge funds added more bets against U.S. stocks over the last week through Jan 9, ahead of a blowout U.S. jobs report that sparked a sell-off on Wall Street, Morgan Stanley and Goldman Sachs said in notes on Friday. The U.S. Labor Department’s closely watched employment report …

Hedge funds increased bearish bets ahead of Friday’s blowout US jobs report, banks say Read More »

By Hannah Lang and Chris Prentice WASHINGTON (Reuters) – Top Republican officials at the U.S. Securities and Exchange Commission are poised to begin overhauling the agency’s cryptocurrency policies potentially as early as next week when President-elect Donald Trump takes power, said three people briefed on the matter. Among the measures commissioners Hester Peirce and Mark …

Trump’s new SEC leadership poised to kick start crypto overhaul, sources say Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators on Wednesday closed a probe into whether General Motors’ self-driving unit Cruise robotaxis were taking sufficient precautions to safeguard pedestrians. The National Highway Traffic Safety Administration, which opened the probe in October 2023, said it was aware of five incidents involving a collision between a Cruise …

US closes probe into GM Cruise self-driving vehicles over pedestrian risks Read More »

SAO PAULO (Reuters) -Brazilian airline Gol released a revised five-year strategic plan on Wednesday as it prepares to exit Chapter 11 bankruptcy proceedings, saying the new forecasts would serve as a base for its reorganization. Gol said in a securities filing it expects to emerge from Chapter 11 in May, and sees its net leverage …

Brazil’s Gol releases new five-year plan ahead of Chapter 11 exit Read More »

By Robert Harvey LONDON (Reuters) -The latest round of U.S. sanctions against Russia could significantly disrupt the country’s oil supply chains, the International Energy Agency said in a monthly report on Wednesday, potentially tightening the global market. Even so, the outlook from the IEA, which advises industrialised countries, still suggests the market will be in …

IEA says new US sanctions could significantly disrupt Russian supply Read More »