Reuters US Business

By Anshuman Tripathy and Aishwarya Jain (Reuters) -Caterpillar’s shares lost more than 3% in morning trading on Friday, a day after the heavy-equipment maker forecast higher tariff-related expenses for 2025, as companies scramble to assess the impact of shifting U.S. trade policy. Industrial machinery makers are facing higher costs and sluggish demand from U.S. President …

Caterpillar falls after raising annual tariff hit forecast Read More »

By Chuck Mikolajczak NEW YORK (Reuters) -The U.S. Commerce Department said on Friday its Personal Consumption Expenditures Price Index (PCE) rose 0.2% in July, versus the unrevised 0.3% rise in June and matched the estimate of economists polled by Reuters.  In the 12 months through July, PCE inflation increased 2.6% after climbing 2.6% in June. …

US core PCE firms slightly but matches expectations Read More »

By Summer Zhen and Jiaxing Li HONG KONG (Reuters) -Eric Trump, the second son of U.S. President Donald Trump, predicted on Friday at a conference in Hong Kong that bitcoin would reach $1 million within several years, and he called China “a hell of a power” in developing cryptocurrencies. Bitcoin has risen 18% this year …

Eric Trump sees bitcoin hitting $1 million, praises China cryptocurrency role Read More »

By Lisandra Paraguassu BRASILIA (Reuters) -Brazil’s Foreign Ministry has ordered trade body Camex to start analyzing whether a local reciprocity law could be used against the United States after U.S. President Donald Trump imposed steep tariffs on several goods from the South American country. The law, passed earlier this year by Brazil’s Congress, establishes a …

Brazil starts formal process to assess US tariff retaliation Read More »

By Lucy Craymer and Christine Chen WELLINGTON (Reuters) -Reserve Bank of New Zealand (RBNZ) Chairman Neil Quigley has resigned with immediate effect, Finance Minister Nicola Willis said on Friday, citing the fallout over the handling of the sudden resignation of the central bank’s governor earlier this year. Quigley’s departure follows months of speculation, as pressure …

NZ central bank chair Quigley resigns on fallout from governor’s sudden exit Read More »

By Scott Murdoch SYDNEY (Reuters) -ANZ Group’s Chief Executive Nuno Matos said on Friday it was ‘indefensible and deeply disappointing’ for bankers to have been told they were being made redundant by automated emails, adding that the bank was taking steps to ensure no repetitions. Matos contacted the affected staff and senior executives in two …

ANZ CEO says firing of staff by automated email was ‘indefensible’ Read More »