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Fed Chair Powell to speak Aug 22 amid speculation on rate cuts, replacement

14 Aug 2025

(Reuters) -Federal Reserve Chair Jerome Powell will give a speech on the economic outlook and the Fed’s review of its policy framework next Friday at the Kansas City Fed’s annual central banking conference in Jackson Hole, Wyoming, the Fed said on Thursday.  Powell’s speech comes as data showing some impact of tariffs on inflation but …

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White House’s Navarro says pharma tariffs likely under Section 232 probe

14 Aug 2025

WASHINGTON (Reuters) -White House trade adviser Peter Navarro said on Thursday that the Trump administration is likely to levy tariffs on pharmaceutical imports under a “Section 232” trade investigation because it’s “very clear that we have a national security crisis” due to U.S. reliance on foreign producers in the sector. In an televised interview with …

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GAMCO sues Redstone for allegedly short-changing Paramount investors in Skydance deal

14 Aug 2025

(Reuters) -Billionaire investor Mario Gabelli’s investment fund filed a class-action lawsuit on behalf of Paramount Global shareholders alleging the company’s controlling shareholder, Shari Redstone, benefited unfairly at their expense in the $8.4-billion merger with Skydance Media, according to a statement from Gabelli’s firm. Gabelli Value 25 Fund and affiliates alleged that Redstone’s investment vehicle, National …

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Buffett’s Berkshire acquires 5 million shares in UnitedHealth

14 Aug 2025

(Reuters) -Warren Buffett’s Berkshire Hathaway has acquired 5 million shares in UnitedHealth Group, a regulatory filing showed on Thursday, sending the health insurer’s stock up 7% in extended trading. Billionaire investor Buffett owned about 1.18 million shares in UnitedHealth between 2006 and 2009, before selling his entire stake in 2010 amid a broader retreat from …

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US charges two in $275 million water vending machine Ponzi case

14 Aug 2025

By Jonathan Stempel NEW YORK (Reuters) -A Washington state entrepreneur and a former Jefferies portfolio manager were criminally charged on Thursday over a Ponzi scheme and related fraud involving water vending machines that totaled as much as $275 million, with military veterans among the victims, U.S. authorities said. Ryan Wear, the former owner of Water …

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Panama Canal to launch tender for construction, operation of two ports, source says

14 Aug 2025

PANAMA CITY (Reuters) -The Panama Canal will soon begin consultations with companies about launching a competitive tender in the first quarter of next year offering two new ports for construction and operation within its zone, a source involved in the preparations said on Thursday. The ports are part of a broad expansion plan being organized …

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How the unraveling of two Pentagon projects may result in a costly do-over

14 Aug 2025

(Refiling to standardize style of Salesforce name throughout) By Alexandra Alper WASHINGTON (Reuters) -Donald Trump’s Navy and Air Force are poised to cancel two nearly complete software projects that took 12 years and well over $800 million combined to develop, work initially aimed at overhauling antiquated human resources systems. The reason for the unusual move: officials …

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US government to shed 300,000 workers this year, Trump’s HR chief forecasts

14 Aug 2025

By Courtney Rozen WASHINGTON (Reuters) -The Trump administration will likely shed around 300,000 workers this year, its new human resources chief said on Thursday, which would amount to a 12.5% decrease in the federal workforce since January. Office of Personnel Management director Scott Kupor said 80% of those workers would leave voluntarily and only 20% …

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Oil prices climb 2% to 1-week high as Fed rate cut, Trump-Putin talks loom

14 Aug 2025

By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 2% to a one-week high on Thursday after U.S. President Donald Trump warned of “severe consequences” if his talks with Russian President Vladimir Putin on Ukraine fail, and on optimism that a likely U.S. interest rate cut next month could spur oil demand. Central banks, …

Oil prices climb 2% to 1-week high as Fed rate cut, Trump-Putin talks loom Read More »

US approves potential sale of rocket system to Bahrain for $500 million

14 Aug 2025

(Reuters) -The U.S. State Department has approved a potential sale of the M142 High Mobility Artillery Rocket System and related equipment to Bahrain for an estimated cost of $500 million, the Pentagon said on Thursday. The principal contractor for the sale is Lockheed Martin. (Reporting by Ismail Shakil and Bhargav Acharya; editing by Rami Ayyub)

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