By Roberto Samora SAO PAULO (Reuters) -Brazil’s beef exports to the United States are seen falling further in September from the previous months, the head of local beef lobby Abiec said on Wednesday, in a move linked to higher tariffs imposed by President Donald Trump on goods from Brazil. Roberto Perosa said that beef exports to …
By Stephen Nellis SANTA CLARA, California (Reuters) -SiTime on Wednesday released a new chip aimed at helping it enter a $4 billion market and land customers in wearable electronic devices. The small Santa Clara, California-based chip company, which had just over $200 million in sales last year, is one of the few that focus specifically …
SiTime releases new chip aimed at wearable gadgets Read More »
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve, goaded by the risk of rising unemployment, reduced interest rates on Wednesday for the first time since December and indicated more cuts would follow to halt any slide in a labor market already experiencing higher joblessness among Blacks, a declining workweek, and other …
Fed lowers interest rates, signals more cuts ahead; Miran dissents Read More »
By Abigail Summerville and Purvi Agarwal (Reuters) – The Nasdaq and the S&P 500 closed lower in choppy trading on Wednesday, after the U.S. Federal Reserve cut interest rates by an expected 25 basis points and Fed Chair Jerome Powell cited the weak job market. The Dow closed higher after meandering during Powell’s speech. The …
Wall Street ends mixed, trade choppy after Fed’s rate cut, outlook Read More »
By Matt Tracy WASHINGTON (Reuters) -U.S. credit rating agency Moody’s Ratings flagged several potential risks in Oracle Corp’s $300 billion of recently signed artificial intelligence contracts, but stopped short of taking ratings action against the software giant. Oracle said this month it expected booked revenue at its Oracle Cloud Infrastructure business to exceed half a …
Moody’s flags risk in Oracle’s $300 billion of recently signed AI contracts Read More »
(Reuters) – Tesla is looking to combine the electronic and manual door-release mechanisms, which are currently in separate locations, the company’s longtime design chief, Franz von Holzhausen, said on a Bloomberg News podcast on Wednesday. Von Holzhausen said the decision is intended to make the handles more intuitive for occupants in “a panic situation”. The …
Tesla redesigning door handles that drew scrutiny over safety, Bloomberg News reports Read More »
By Ateev Bhandari (Reuters) – Major U.S. lenders lowered a key interest rate on Wednesday, providing U.S. consumers a reprieve on borrowing costs, after the Federal Reserve cut interest rates for the first time this year. JPMorgan Chase, Citigroup, Wells Fargo and Bank of America lowered their prime lending rates to 7.25% from 7.50% following …
Big US banks lower prime lending rates after Fed rate cut Read More »
By David French, Ankita Bora and Arasu Kannagi Basil (Reuters) – WaterBridge Infrastructure’s shares jumped 14.2% in their debut on the New York Stock Exchange on Wednesday, giving the midstream water management firm a market valuation of around $2.6 billion. Shares of the Houston, Texas-based company, which is backed by private equity firm Five Point, …
Five Point-backed WaterBridge jumps 14% in NYSE debut Read More »
By Allison Lampert (Reuters) -Plans to combat a U.S. shortage of aircraft mechanics are in limbo after funds aimed at training a mostly male workforce are being held up by government efforts to remove mention of diversity, equity and inclusion from its own notices of available grants, industry officials told Reuters. Lawmakers last year pledged …
By Michael S. Derby (Reuters) -Federal Reserve Chair Jerome Powell on Wednesday explained why the three missions Congress imposed on the central bank add up to two in real-world conditions. Powell, speaking at a press conference following the latest interest-rate-setting Federal Open Market Committee meeting, was responding to a question about an official directive for the …
Fed’s Powell explains how central bank moderate rates mandate works Read More »
