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(Reuters) – Australia’s Macquarie on Tuesday agreed to take a 15% stake in Applied Digital’s high-performance computing business and invest up to $5 billion in the company’s artificial intelligence data centers amid booming AI demand. Shares of Applied Digital rose about 20% before the opening bell. Since the launch of ChatGPT in late 2022, providers …

Australia’s Macquarie to invest up to $5 billion in Applied Digital data centers Read More »

By Lucia Mutikani WASHINGTON (Reuters) -U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months. The moderation in producer inflation reported by the Labor Department on Tuesday did not change …

US inflation still slowing as producer prices rise below expectations in December Read More »

(Reuters) -Brown-Forman said on Tuesday it will lay off about 12% of its global workforce of 5,400 employees, as the Jack Daniel’s maker looks to reduce costs amid weak alcohol demand. The company has struggled with high input costs, including of raw materials such as agave and wood barrels, and raised prices for its whiskey …

Brown-Forman to cut about 12% of global workforce as part of restructuring Read More »

By Jonathan Stempel (Reuters) -Capital One was sued on Tuesday by the U.S. Consumer Financial Protection Bureau, which accused the bank of illegally cheating customers who held its flagship “high interest” savings account out of more than $2 billion in interest payments. In a complaint filed in the Alexandria, Virginia federal court, the CFPB said …

Capital One sued by US CFPB for avoiding billions in interest payments Read More »

By Abhinav Parmar and Nathan Gomes (Reuters) -United Rentals said on Tuesday it would acquire smaller rival H&E Equipment Services in a deal valued at $4.8 billion, as the company looks to tap into demand for equipment rentals in more markets within the United States. Shares of H&E Equipment were up nearly 106% in early …

United Rentals boosts equipment capacity with $4.8 billion H&E deal Read More »

By Anirban Sen, Alexandra Alper and David Shepardson (Reuters) – Cleveland-Cliffs is partnering with peer Nucor to prepare a potential all-cash bid for U.S. Steel, with an offer in the high $30s per share, a person familiar with the matter said on Monday. Cliffs is aiming to purchase all of U.S. Steel and then sell …

Cleveland-Cliffs eyeing all-cash bid for U.S. Steel, source says Read More »