Reuters US Business

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year amid rising estimates for what it will take to keep inflation in check. …

Fed keeps rates steady, sees just one 2024 cut despite inflation progress Read More »

(Reuters) -Investors will vote on Tesla CEO Elon Musk’s $56-billion compensation package and the company’s reincorporation in Texas, from Delaware, at a consequential shareholder meeting on Thursday. Analysts have flagged risk of the billionaire potentially leaving the electric-vehicle maker and prioritizing artificial-intelligence startup xAI and social media platform X if the pay package does not …

Factbox-Tesla shareholder meeting: How investors are voting on Musk’s $56-billion pay package Read More »

By Douglas Gillison (Reuters) – The head of the top U.S. watchdog agency for consumer finance on Wednesday called on lawmakers to adopt greater protections against the collection and use of consumers’ data from payment processing and so-called buy-now-pay-later services. Rohit Chopra, director of the U.S. Consumer Financial Protection Bureau, delivered his first testimony on …

More consumer data safeguards needed, watchdog tells US Congress Read More »

(Reuters) – Tech conglomerate Broadcom raised its annual revenue forecast on Wednesday, betting on higher demand for its networking equipment and custom chips from businesses investing in artificial intelligence infrastructure. Shares of the Palo Alto, California-based company, which also unveiled a stock split, rose more than 9% in extended trading. The company will carry out …

Chipmaker Broadcom raises annual revenue forecast, unveils stock split Read More »

(Reuters) – Thousands of Amazon.com Flex drivers filed arbitration claims on Tuesday, alleging they were misclassified as independent contractors rather than employees, the lawyer representing the drivers told Reuters. About 15,800 drivers have submitted arbitration claims with the American Arbitration Association, seeking compensation from Amazon for unpaid wages, overtime and work-related expenses such as mileage …

Thousands of Amazon Flex drivers file arbitration claims for misclassification as contractors Read More »

WILMINGTON, Delaware (Reuters) -Elon Musk made billions of dollars by selling Tesla stock using insider information, an institutional shareholder accused in a lawsuit filed on Tuesday, asking the court to direct the Tesla CEO to return “unlawful profits.” The lawsuit comes two days before a critical vote by Tesla shareholders on whether to reinstate Musk’s …

Tesla shareholder sues Musk to return billions in alleged unlawful profits Read More »

By Max A. Cherney TAIPEI/SAN FRANCISCO (Reuters) -Taiwanese chip design giant MediaTek is developing an Arm-based personal computer chip that will run Microsoft’s Windows operating system, according to three people familiar with the matter. Last month, Microsoft unveiled a new generation of laptops that feature chips designed with Arm Holdings tech, which provide enough horsepower …

Exclusive-MediaTek designs Arm-based chip for Microsoft’s AI laptops, say sources Read More »

By Ashitha Shivaprasad and Brijesh Patel SINGAPORE (Reuters) -Vietnam could allow companies to import gold for the first time in over a decade, as it aims to bridge the widening gap between local prices and international benchmarks, an industry official told Reuters. The Vietnam Gold Traders Association (VGTA) has been in protracted talks with the …

Exclusive-Vietnam could allow companies to import gold for first time in years, industry official says Read More »