Reuters US Business

By Ankika Biswas, Lisa Pauline Mattackal and Carolina Mandl (Reuters) -The Dow rallied on Monday to a one-month high, while the Nasdaq tumbled over 1% as investors rotated out of AI-linked stocks and added some laggards to their portfolios, betting on Federal Reserve interest rate cuts this year. The S&P 500 and Nasdaq ended lower …

Dow closes at a one-month high as investors broaden portfolios Read More »

By David Shepardson WASHINGTON (Reuters) -AT&T CEO John Stankey said on Monday that Congress should give the Federal Communications Commission the power to require Big Tech firms to contribute to a government fund that subsidizes access to telecom and broadband services. Under current law, fees are levied on cell phone and landline service subscribers to …

AT&T wants Big Tech firms to pay into telecom and broadband subsidy fund Read More »

By Curtis Williams HOUSTON(Reuters) – A shortage of skilled labor and nagging inflation from strong wage growth on the U.S. Gulf Coast are pressuring liquefied natural gas (LNG) developers and delaying some projects from reaching a financial go-ahead. There are five LNG plants under development in Texas and Louisiana and 16 others on the drawing …

Rising US labor costs threaten to derail new LNG projects Read More »

By Pete Schroeder and Nupur Anand WASHINGTON (Reuters) – Big U.S. lenders are expected to show they have ample capital to weather any renewed turmoil during this week’s Federal Reserve health checks, but will be conservative on investor payouts amid economic and regulatory uncertainties, analysts said. The central bank on Wednesday will release the results …

Big US banks expected to be cautious on shareholder payouts after stress tests Read More »

(Reuters) -United Parcel Service, the world’s biggest package delivery firm, will sell its Coyote Logistics business unit to RXO for $1.025 billion, the companies said on Sunday. The transaction will be funded with a mix of equity and debt, including a $300 million equity investment from MFN Partners and a $250 million equity investment from …

UPS announces sale of Coyote Logistics unit to RXO for $1 billion Read More »

(Reuters) -Facebook parent Meta Platforms has discussed integrating its generative AI model into Apple’s recently announced AI system for iPhones, the Wall Street Journal reported on Sunday. The move comes as Apple plans to add technology from other AI companies on its devices amid reports that it was discussing a potential tie-up with long-time search …

Apple and Meta have discussed AI partnership, WSJ reports Read More »

By Candelaria Grimberg BUENOS AIRES (Reuters) – Argentines, famed for steakhouses, sprawling cattle ranches and asado barbecues, are consuming less beef than ever, forced to tighten their belts by triple-digit inflation and a recession. Beef consumption is down almost 16% this year so far in the South American nation where beef has always been an …

Meat-loving Argentines eat less beef as inflation bites Read More »

(Reuters) -A union representing flight attendants for Alaska Airlines said on Friday that they have reached a tentative agreement for a record contract with the carrier. The details of the deal will be reviewed by the union’s leadership, followed by a member ratification vote, the Associate of Flight Attendants said. “With our combined efforts, we’ve …

Alaska Airlines, flight attendants reach tentative deal Read More »

By Krystal Hu and Akash Sriram (Reuters) -Microsoft-backed OpenAI has acquired search and database analytics startup Rockset to provide better infrastructure for its enterprise products, the ChatGPT maker said on Friday. The companies did not disclose the deal size. OpenAI used its shares to buy the company in a stock deal that valued Rockset at …

OpenAI buys database analytics firm Rockset in nine-figure stock deal, sources say Read More »