Reuters US Business

By Tom Hals WILMINGTON, Delaware (Reuters) – Internal Qualcomm documents showed the chip firm estimated it could eventually save as much as $1.4 billion a year on payments to Arm by purchasing a little-known startup in 2021, according to evidence shown at a trial on Wednesday. The projection surfaced while Qualcomm CEO Cristiano Amon was …

Qualcomm saw Nuvia buy as chance to save $1.4 billion a year on Arm fees, CEO tells jury Read More »

By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration said on Wednesday it will not seek an immediate recall of airbag inflators in about 50 million U.S. vehicles assembled by 13 automakers and instead will conduct further investigation. The agency said in July it thought the vehicles posed serious safety risks and was …

US to extend airbag probe rather than require vehicle recall Read More »

By Greg Bensinger (Reuters) – Pressure is building on Amazon.com to come to the bargaining table with the Teamsters union as thousands of workers threaten to strike during the retailer’s busy holiday selling season. Workers in New York City, southern California and Skokie, Illinois, voted in recent days to authorize a strike should Amazon fail …

Amazon faces possible US strikes as Christmas looms Read More »

(Reuters) -U.S. stocks plunged on Wednesday after the Federal Reserve cut interest rates by a quarter of a percentage point and the central bank’s economic projections signaled a slower pace of cuts next year. According to preliminary data, the S&P 500 lost 2.96%, while the Nasdaq Composite lost 3.62% and the Dow Jones Industrial Average …

Stocks skid after Fed signals it will slow down its easing Read More »

By Timothy Gardner WASHINGTON (Reuters) – The inspector general of the U.S. Department of Energy urged the agency’s loan office to immediately halt issuing billions of dollars in loans to green projects, saying contractors who vet them may be serving both the agency and potential borrowers. The watchdog in an interim report issued late on …

US watchdog recommends Energy Department halt loans to green projects Read More »

By Manya Saini and Niket Nishant (Reuters) -Buy now, pay later firm Sezzle’s shares plunged on Wednesday after Hindenburg Research disclosed a short position, citing risky lending practices alongside a decline in customers and merchants. The company, however, denied these allegations, calling them “misleading and out of context”, and said they “remain confident” in the …

BNPL lender Sezzle plunges as short-seller Hindenburg Research takes aim Read More »

By Nora Eckert DETROIT (Reuters) -Ford Motor is appointing a new head of quality, the company confirmed on Wednesday, as the automaker works to reverse its industry-topping record of recalls and reduce warranty costs.  The automaker will move control of its quality team from Jim Baumbick to a new leader who has not yet been …

Ford to change its quality leader as it chases lower warranty costs Read More »

(Reuters) -The U.S. Federal Reserve cut interest rates on Wednesday and signaled it will slow the pace at which borrowing costs fall any further given a relatively stable unemployment rate and little recent improvement in inflation. The reduction by the central bank’s Federal Open Market Committee in the benchmark policy rate to the 4.25%-4.50% range …

Fed cuts rates 25 bp, scales back 2025 easing projections Read More »