Reuters US Business

By David Shepardson WASHINGTON (Reuters) -Major automakers including Tesla, Toyota and Ford, urged the Trump administration on Tuesday to extend a North American free trade deal they call crucial to American auto production. The automakers, which also included General Motors, Honda, Hyundai, Rivian, Mazda, Volkswagen and Stellantis, made the comments in filings with the U.S. …

Automakers urge US to extend North America free trade deal Read More »

By Devika Madhusudhanan Nair (Reuters) -Bankrupt First Brands on Monday sued its former chief executive and founder Patrick James, accusing him of orchestrating frauds that left the U.S. auto parts maker insolvent. James enriched himself and his family by “misappropriating hundreds of millions (if not billions) of dollars from First Brands,” the company said in …

First Brands accuses former CEO of misappropriating millions, perhaps billions Read More »

By Arsheeya Bajwa and Max A. Cherney (Reuters) -Advanced Micro Devices forecast fourth-quarter revenue above market estimates on Tuesday, betting on the multibillion-dollar expansions of data center infrastructure to boost demand for its artificial intelligence chips. AMD has received significant investments in AI hardware from companies such as ChatGPT maker OpenAI and the U.S. Department …

AMD forecasts fourth-quarter revenue above estimates on strong AI chip demand Read More »

SAO PAULO (Reuters) -Brazilian lender Itau Unibanco on Tuesday reported third-quarter net recurring profit in line with analysts’ estimates and raised its projection for 2025 net interest income with the market. Itau, Latin America’s largest private lender by total assets, reported an 11.9 billion reais ($2.20 billion) net recurring profit for the July-September period, matching …

Brazil’s Itau hikes net interest income outlook, posts recurring profit in line with forecasts Read More »

(Reuters) -Roelof Botha will step down as the managing partner at Sequoia Capital after a little more than three years in the role, the storied Silicon Valley venture capital firm said on Tuesday.  Botha, who spearheaded Sequoia’s investments in Meta Platforms’ Instagram, biotech firm 23andMe and software firm MongoDB , had joined the investment firm in …

Sequoia Capital’s Botha steps down as top boss Read More »

By Akash Sriram and Abhirup Roy (Reuters) -Rivian Automotive surpassed third-quarter revenue expectations on Tuesday, fueled by strong deliveries as U.S. consumers rushed to grab a federal tax incentive on electric vehicle purchases before its expiry. Shares of the Irvine, California-based company rose more than 4% after the bell. The company said last month it …

Rivian rides on EV tax-credit rush to beat revenue estimate, expects lower tariff costs Read More »

By Juby Babu (Reuters) -Super Micro Computer missed Wall Street estimates for quarterly profit and revenue on Tuesday, hit by a shift in delivery schedules for large artificial intelligence deals, sending the server maker’s shares down more than 8% in extended trading. The company had warned that “design win upgrades” had pushed some expected first-quarter …

Super Micro misses quarterly estimates on delivery delays Read More »