Reuters US Business

Ancora urges CSX to pursue merger or replace CEO amid rail industry shakeup

19 Aug 2025

By Abhinav Parmar (Reuters) -Activist investor Ancora Holdings, in a letter to CSX board disclosed on Monday, urged the railroad to pursue near-term merger options or replace CEO Joe Hinrichs. The activist investor urged the railroad to evaluate potential tie-ups with Berkshire Hathaway-owned BNSF Railway and Canadian Pacific Kansas City in order to determine the …

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Fed’s Bowman suggests allowing central bank staff to own small amounts of crypto products

19 Aug 2025

By Pete Schroeder WASHINGTON (Reuters) -The Federal Reserve’s top regulatory official suggested on Tuesday that central bank staff should be permitted to own small amounts of crypto products, arguing experience would better inform their work policing activities in those financial markets. Fed Vice Chair for Supervision Michelle Bowman said easing restrictions on staff investments may …

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Musk’s SpaceX, others win US court challenge to labor board’s structure

19 Aug 2025

By Daniel Wiessner (Reuters) -A U.S. appeals court on Tuesday agreed with Elon Musk’s SpaceX and two other companies that the U.S. National Labor Relations Board’s structure is likely unlawful and blocked the agency from pursuing cases against them. The ruling by the New Orleans-based 5th U.S. Circuit Court of Appeals is the first by …

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‘SPAC King’ Palihapitiya makes a comeback with new blank-check IPO

19 Aug 2025

By Manya Saini (Reuters) -Chamath Palihapitiya, dubbed Wall Street’s “SPAC king” for his high-profile blank-check deals, is set to take his latest special purpose acquisition vehicle public, marking his return to the market after several years. American Exceptionalism Acquisition Corp, chaired by the venture investor who became the face of the original SPAC mania, is …

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Google announces Tennessee as site for small modular nuclear reactor

19 Aug 2025

(Corrects to 50 megawatts from 50 gigawatts in fifth paragraph) By Laila Kearney NEW YORK (Reuters) -Google, with Kairos Power, has selected Tennessee as the site of an advanced nuclear power plant that is expected to supply electricity to the Big Tech company’s data centers in the U.S. southeast starting in 2030, the companies said on …

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Walmart’s earnings report will test investor confidence in US market

19 Aug 2025

By Siddharth Cavale NEW YORK (Reuters) -Investors expect Walmart’s management to strike a cautious tone on customer demand as the U.S. labor market cools and inflation ticks up, though the company has outperformed its peers over the last year due to its reliance on grocery sales and wealthier customers shopping there more often. Still, analysts …

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US stocks tend to gain around Fed’s Jackson Hole summer conference, analysis shows

19 Aug 2025

By Lewis Krauskopf NEW YORK (Reuters) -U.S. stocks have tended to fare well around the Federal Reserve’s Jackson Hole gathering in August, according to a historical analysis from DataTrek Research, although the market has seen sizable moves in both directions in recent years. The Fed’s annual Wyoming research conference is set for Thursday through Saturday, …

US stocks tend to gain around Fed’s Jackson Hole summer conference, analysis shows Read More »

Home Depot retains annual forecasts, flags ‘modest’ price hikes due to tariffs

19 Aug 2025

By Savyata Mishra and Nicholas P. Brown (Reuters) -Home Depot kept its annual forecasts intact despite posting muted quarterly results on Tuesday, but said some products may see small price hikes due to tariffs after previously suggesting they would generally not change. The top U.S. home-improvement chain is betting that customers will continue to spend …

Home Depot retains annual forecasts, flags ‘modest’ price hikes due to tariffs Read More »

Bessent says US tariff revenues to rise ‘substantially,’ focus on reducing debt

19 Aug 2025

By Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said he expects a big jump in revenues from sweeping tariffs imposed by President Donald Trump, and said the money would be used first to start paying down the federal debt, not to give rebate checks to Americans. Bessent, speaking in an interview on CNBC’s …

Bessent says US tariff revenues to rise ‘substantially,’ focus on reducing debt Read More »

Black Hills, NorthWestern merge to form $15.4 billion utility to meet surging demand

19 Aug 2025

By Vallari Srivastava and David French (Reuters) -Black Hills and NorthWestern Energy said on Tuesday they would merge, creating a $15.4 billion regulated electric and natural gas utility better equipped to invest in grid infrastructure and meet rising U.S. power demand. U.S. utilities are racing to bulk up as electricity consumption surges to record levels, …

Black Hills, NorthWestern merge to form $15.4 billion utility to meet surging demand Read More »

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