(Reuters) -United Parcel Service on Tuesday appointed longtime insider Brian Dykes as its new finance chief, effective immediately. Dykes, who has worked at UPS for more than 25 years, succeeds Brian Newman, who departed the company on June 1. The change at the world’s biggest parcel delivery firm comes at a time when it is …
(Reuters) -Billionaire Elon Musk’s artificial intelligence startup xAI and tech giant Oracle have ended talks on a potential $10 billion server deal, the Information reported on Tuesday. The startup and Oracle have ended talks to expand an existing arrangement under which xAI has been renting Nvidia’s AI chips from the cloud provider, the report said, …
Musk’s xAI, Oracle end talks on $10 billion server deal, the Information reports Read More »
By David Lawder and Andrea Shalal WASHINGTON (Reuters) – Rent and housing costs are keeping U.S. inflation higher than preferred but consumer price pressures will continue to come down over time, Treasury Secretary Janet Yellen said on Tuesday, as a top White House adviser cited what she called “tremendous progress” in bringing down inflation. Yellen …
US Treasury’s Yellen: inflation will continue to ease over time Read More »
(Reuters) – The S&P 500 and Nasdaq notched record-high closes on Tuesday, fueled by gains in Nvidia after U.S. Federal Reserve Chair Jerome Powell told lawmakers that more “good” economic data would strengthen the case for rate cuts. AI chipmaker Nvidia climbed 2.5%, offsetting declines in other chip stocks. Microsoft dipped 1.4%, while Tesla added …
S&P 500 and Nasdaq notch record highs as Nvidia gains Read More »
By Svea Herbst-Bayliss (Reuters) – Hedge fund manager Bill Ackman kicked off fundraising for a new U.S.-listed closed-end fund on Tuesday, an effort people familiar with the matter say could bring in as much as $20 billion, more than double his assets under management, some of that from retail investors. Last month, Ackman sold 10% …
Billionaire investor Ackman kicks off fundraising for new US fund Read More »
SANTIAGO (Reuters) -Chilean officials on Tuesday said they will consider 81 proposals for lithium projects, putting the country on track to surpass a goal of four new projects by the end of 2026, even as questions remain about how the process will move forward. Chile in April called for proposals in more than two dozen …
Chile to analyze 81 private lithium proposals, eyeing four projects by 2026 Read More »
By Ahmed Aboulenein and Jody Godoy WASHINGTON (Reuters) -The consolidation of pharmacies and health insurance companies through years of dealmaking has led to a handful of pharmacy benefit managers exercising outsized influence over prescription drug prices, the U.S. Federal Trade Commission said on Tuesday. Pharmacy benefit managers, or PBMs, act as middlemen between drug companies …
Middlemen have outsized influence on US drug prices, FTC says Read More »
By Rodrigo Campos NEW YORK (Reuters) – The possibility of former President Donald Trump winning back the White House in November has investors preparing for various scenarios, with “America’s backyard” high on the list of markets to look out for. The Trump administration had terse relations with much of Latin America, including during the distribution …
How a Trump election victory could ruffle Latin American markets Read More »
JERUSALEM (Reuters) – Israel Aerospace Industries (IAI) has entered a $1 billion contract to supply one of its systems to an unnamed third party, the state-owned defence contractor said on Tuesday. IAI, which makes some of Israel’s most advanced drones and missile defence systems, said in a regulatory filing in Tel Aviv that the deal …
Israel Aerospace announces $1 billion deal with unnamed third party Read More »
By Erwin Seba and Arathy Somasekhar HOUSTON (Reuters) -The Texas energy industry was evaluating the impact from Hurricane Beryl on Monday after the powerful storm lashed the U.S. Gulf Coast, closing key shipping ports and hitting the oil refining and production sectors. Beryl made landfall near the coastal town of Matagorda, Texas, on Monday morning, …
Texas energy industry assesses damage after Hurricane Beryl batters Gulf coast Read More »
