Reuters US Business

By Sinéad Carew and Johann M Cherian (Reuters) – The S&P 500 and the Nasdaq rallied to higher closes on Wednesday after Federal Reserve chair Jerome Powell acknowledged that inflation was starting to ease following a quarter-point rate hike by the U.S. central bank, which issued a statement that it expects “ongoing increases.” Wall Street’s …

Wall Street rallies as Fed chief Powell speaks after rate hike Read More »

By David French and Andres Gonzalez (Reuters) – Grupo Mexico, the conglomerate controlled by billionaire German Larrea, has secured a $5 billion debt package for its proposed acquisition of Citigroup Inc’s retail operations in Mexico, according to people familiar with the matter. The move represents a major milestone in Grupo Mexico’s efforts to put together …

Exclusive-Grupo Mexico clears major Citi deal hurdle with $5 billion debt package -sources Read More »

By Krystal Hu (Reuters) – OpenAI, the creator of the popular chatbot ChatGPT, has released a software tool to identify text generated by artificial intelligence, the company said in a blog post on Wednesday. ChatGPT is a free program that generates text in response to a prompt, including articles, essays, jokes and even poetry, which …

ChatGPT owner launches ‘imperfect’ tool to detect AI-generated text Read More »

By Milana Vinn (Reuters) – Rapid7 Inc, the cybersecurity firm that hired Twitter Inc whistleblower Peiter Zatko last month, is exploring options that include a possible sale after attracting acquisition interest, according to people familiar with the matter. The Boston-based company is working with investment bank Goldman Sachs Group Inc as it considers approaches from …

Exclusive-Cybersecurity firm Rapid7 explores sale -sources Read More »

NEW YORK (Reuters) – Federal Reserve Chairman Jerome Powell said on Wednesday he is not fully sure where the central bank will stop with rate rises as it presses forward with its efforts to cool inflation. “There is more work to do” and the Fed has not decided where it will stop rate rises, with …

Fed’s Powell says could raise rates beyond December, gives nod to disinflation Read More »

BERLIN/FRANKFURT (Reuters) -German chip supplier ZF Friedrichshafen and U.S. chipmaker Wolfspeed are expected to announce plans on Wednesday to build an electric vehicle chip plant in the Saarland region, according to three sources close to the matter. The move comes as carmakers such as Mercedes-Benz and Volkswagen continue to cope with a shortage of vital …

Wolfspeed to announce new electric vehicle chip plant in Germany – sources Read More »

By John Revill ZURICH (Reuters) – ABB has sold more of its electric vehicle (EV) charging business to four investors including a fund linked to former U.S. Vice President Al Gore, the Swiss engineering company said on Wednesday. The investors paid 325 million Swiss francs ($355 million) for a combined 12% stake in the E-Mobility …

Ex-US VP Gore’s fund among ABB car charging business’ new investors Read More »