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By Sarah Wu and Stephen Nellis SAN FRANCISCO/TAIPEI (Reuters) -The top executive at German technology group Robert Bosch said on Wednesday the company needs subsidies from the U.S. government to carry out the full expansion it has planned for a California chip plant it is acquiring. In April, Bosch said it planned to buy key …

Bosch CEO says US support needed for full expansion of California chip factory Read More »

(Reuters) -Salesforce raised its annual revenue forecast on Wednesday and projected quarterly sales above estimates as it benefits from a recent price hike and resilient demand for its cloud and business software offerings in an uncertain economy. Shares of the company rose more than 6% in extended trading. The results fan optimism about a recovery …

Salesforce lifts annual forecast as business software demand stays strong Read More »

WASHINGTON (Reuters) – Boeing will suspend operations at its two South Carolina facilities at 4 pm local time on Wednesday due to the path of Hurricane Idalia, a spokesperson said. The company produces the 787 Dreamliner widebody at its plant in North Charleston. Boeing did not say when operations are slated to resume. “We will …

Boeing to temporarily halt 787 production due to Hurricane Idalia Read More »

By Shristi Achar A and Noel Randewich (Reuters) – The S&P 500 and Nasdaq closed higher on Wednesday as fresh economic data signaled a cooling U.S. economy, reinforcing expectations the Federal Reserve will pause rate hikes in September. The S&P 500 index reached its highest in nearly three weeks after an ADP National Employment report …

Wall Street ends higher as economic data fuels rate-pause bets Read More »

(Reuters) – The United States is asking Mexico to review whether the labor rights of pilots at a small cargo airline are being infringed, the eight such request Washington has made this year, U.S. officials said on Wednesday. Since the U.S.-Mexico-Canada Agreement (USMCA) on trade took effect in 2020, the office of the U.S. Trade …

US asks Mexico to review cargo airline pilots’ rights Read More »

By Jody Godoy (Reuters) – Nikola founder Trevor Milton lost his bid for a new trial on charges of defrauding investors in the electric vehicle company on Wednesday, after a federal judge rejected his argument that a juror was secretly biased against the rich. U.S. District Judge Edgardo Ramos said the juror’s online posts did …

US judge rejects Nikola founder’s juror bias claim Read More »

By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) – A U.S. judge said on Wednesday he would consider delaying Sam Bankman-Fried’s Oct. 3 criminal fraud trial, after the jailed FTX founder’s lawyers complained he did not have enough time to review millions of pages of evidence to help build his case. U.S. District Judge …

Sam Bankman-Fried could have FTX fraud trial delayed Read More »

By Jonathan Stempel (Reuters) -A U.S. judge has rejected Burger King’s bid to dismiss a lawsuit claiming that it cheated hungry customers by making its Whopper sandwich appear larger than it actually is. U.S. District Judge Roy Altman in Miami said Burger King must defend against a claim that its depiction of Whoppers on in-store …

Burger King must face lawsuit claiming its Whoppers are too small Read More »

(Reuters) -U.S. Steel has entered into confidentiality agreements with “numerous third parties” and started to review multiple unsolicited proposals ranging from partial acquisition to an entire buyout, the company said in a letter to its stockholders on Tuesday. Chairman David Sutherland and CEO David Burritt said in the letter that the company will start to …

U.S. Steel starts due diligence after entering agreements with ‘numerous third parties’ Read More »