Reuters US Business

By Jody Godoy Dec 12 (Reuters) – U.S. President Donald Trump’s executive order seeking to bar state laws on artificial intelligence that he says slow innovation will face political and legal opposition from states seeking to preserve their right to regulate the rapidly growing technology. The order instructing federal agencies to sue and withhold funds …

Trump’s order targeting state AI laws faces political and legal hurdles Read More »

By Joey Roulette, Ross Kerber and Echo Wang WASHINGTON, Dec 12 (Reuters) – Investors eyeing SpaceX’s potential blockbuster IPO may need to brace themselves as CEO Elon Musk balances his risky quest to reach Mars with growing the revenue-rich Starlink satellite broadband business that would offer more reliable shareholder returns.  SpaceX, which transformed space travel …

Analysis-Musk’s Mars mission adds risk to red-hot SpaceX IPO Read More »

Dec 12 (Reuters) – Shares of cannabis companies jumped on Friday after the Washington Post reported U.S. President Donald Trump is expected to push the government to dramatically loosen federal restrictions on marijuana. U.S.-listed shares of Tilray Brands gained 35%, while SNDL, Canopy Growth and ETF AdvisorShares Pure US Cannabis were up between 20% and …

Cannabis stocks surge on report Trump seeks to ease restrictions Read More »

By Prakhar Srivastava Dec 12 (Reuters) – Wealthfront’s shares opened flat in their Nasdaq debut on Friday, valuing the automated digital wealth management company at $2.63 billion on a fully diluted basis, as investors remained selective in a crowded fintech listing. The Palo Alto, California-based company’s stock opened at $14. Wealthfront and some of its …

Fintech Wealthfront valued at $2.63 billion in Nasdaq debut Read More »

Dec 12 (Reuters) – Shares of Rivian Automotive surged 18% on Friday as analysts issued bullish commentary on the electric pickup truck and SUV maker’s efforts to develop a custom chip for self-driving features and its integration of artificial intelligence. The stock had closed about 6% lower on Thursday after the company’s announcements at its …

Rivian shares surge as analysts cheer shift to custom self-driving chip, AI strategy Read More »

Dec 12 (Reuters) – Auto parts maker First Brands said on Friday it had filed a request for expedited approval to access about $250 million as part of its bankruptcy restructuring. First Brands said the funds — customer payments for orders it has already fulfilled but cannot access under Chapter 11 rules — have artificially …

First Brands seeks access to customer payments held up in bankruptcy Read More »

By Zaheer Kachwala and Joel Jose Dec 12 (Reuters) – Broadcom shares fell more than 11% on Friday after the chipmaker warned growing sales of lower-margin custom AI processors were squeezing profitability, sparking worries that the business may be less lucrative. The warning on margin impact deepened investor jitters over Big Tech’s AI returns, a …

Broadcom shares fall as margin warning sparks AI payoff worries Read More »

By Hannah Lang Dec 12 (Reuters) – Crypto giants including Ripple and Circle on Friday received preliminary approval from a top U.S. banking regulator to establish national trust banks, in a major move that could further integrate digital assets into the banking system. The Office of the Comptroller of the Currency conditionally approved two new …

US regulator grants crypto firms initial approval to launch trust banks Read More »

By Rodrigo Viga Gaier RIO DE JANEIRO, Dec 12 (Reuters) – Brazil’s federal government plans to hold the auction of the Santos port’s massive Tecon 10 container terminal in the first half of March, Ports and Airports Minister Silvio Costa Filho said on Friday. The auction has drawn interest from more than 10 potential bidders, …

Brazil to auction massive Santos container terminal in early March, minister says Read More »