Reuters US Business

By Ann Saphir (Reuters) -Federal Reserve policymakers look set to kick off a series of interest rate cuts this month to shore up an increasingly fragile labor market, after a government report on Friday showed job growth nearly stalled and the unemployment rate rose in August. While Fed Chair Jerome Powell is likely to interpret …

Fed on track for string of rate cuts as labor market weakens Read More »

(Reuters) -BofA Global Research on Friday forecast the U.S. Federal Reserve to deliver two 25 basis point (bp) cuts, in September and December, after a soft jobs report. BofA, was the only Wall Street brokerage , which had previously expected no cuts this year. For 2026, BofA projects an additional 75 basis points of easing. …

BofA expects Fed to deliver two cuts this year after soft jobs report Read More »

By Rashika Singh and Arsheeya Bajwa (Reuters) -Broadcom shares jumped 15% on Friday after the chipmaker unveiled a blockbuster $10 billion AI chip order from a new customer, fueling optimism around its ability to benefit from the generative AI race. The deal solidifies the company’s role as a leading custom chip provider amid Big Tech’s …

Broadcom shares rally as $10 billion chip deal shows AI strategy paying off Read More »

NEW YORK (Reuters) -The pace of U.S. job growth slowed more than expected in August, and the unemployment rate increased, pointing to signs of slowing labor market conditions and boosting expectations the Federal Reserve will need to be more aggressive in cutting interest rates.  Nonfarm payrolls increased by 22,000 jobs in August, after rising by …

US job growth slows sharply in August, unemployment rate ticks higher Read More »

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of New York President John Williams said on Thursday a gradual lowering in short-term borrowing costs is likely to happen over time if the economy meets his current forecast of modest gains in unemployment and a softening of inflation trends next year.  The current setting …

Fed’s Williams sees gradual rate cuts but lets data drive when they’ll happen Read More »

SAO PAULO (Reuters) -Brazilian miner Vale said on Thursday it will invest 67 billion reais ($12.36 billion) in its mining operations in Minas Gerais state by 2030, as it held a ceremony to mark the reopening of a key mine in the city of Ouro Preto. Most of the investments will be focused on solutions …

Brazil’s Vale reopens key mine, plans to invest $12 billion in Minas Gerais Read More »

(Reuters) -Alaska Air Group said on Thursday that it is converting part of its outstanding order for Boeing 787 jets to the larger 787-10 variant. The move reflects the airline’s post-Hawaiian integration strategy to meet growing demand on high-traffic routes, especially across the Pacific. “We can confirm we have converted some of our 787s to …

Alaska Air to convert part of its Boeing 787 order to larger 787-10’s Read More »

(Reuters) -Hong Kong-listed Chinese conglomerate Fosun International said on Friday its unit had agreed to sell a 40% stake in Portugal-based hospital operator Luz Saude for 310 million euros ($362.92 million) to an entity linked to Australia’s Macquarie Group. Fosun-controlled Portuguese insurer Fidelidade inked a deal with MEIF 7 Med Holdings to dispose of some …

Fosun unit to divest 40% stake in Portugal’s Luz Saude to Macquarie-linked firm Read More »