Reuters US Business

Brazil, Japan beef talks focus on smaller Brazilian states, upsetting industry

5 Aug 2025

By Ana Mano and Marcela Ayres SAO PAULO (Reuters) -Ongoing talks to open the Japanese market to Brazilian beef are focusing on supplies from three small Brazilian exporting states, upsetting other parts of the South American country’s industry that are eager to reach the high-paying customers, according to multiple sources. Brazil, the world’s biggest beef …

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Wall Street falls, oil prices end at 5-week lows

5 Aug 2025

By Chris Prentice and Amanda Cooper NEW YORK/LONDON (Reuters) -Wall Street stock indexes fell on Tuesday as investors weighed tariff concerns and weaker than expected U.S. economic data, while equities in Europe and Asia notched gains. U.S. services sector activity unexpectedly flatlined in July with little change in orders and a further weakening in employment …

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Pfizer raises 2025 profit forecast as cost-cutting program gains traction

5 Aug 2025

By Bhanvi Satija and Michael Erman (Reuters) -Pfizer said its full-year profit should benefit from cost cuts across its research and manufacturing operations after posting higher-than-expected second-quarter earnings on Tuesday. CEO Albert Bourla also said the company has been in active discussions with members of the U.S. government, including President Donald Trump, over demands drugmakers …

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Lucid cuts annual production forecast as global trade tensions sting

5 Aug 2025

(Reuters) – Lucid lowered its annual production forecast and missed Wall Street estimates for quarterly revenue on Tuesday, at a time when U.S. trade tensions have cast a dark cloud over some automakers as consumers rein in big spending budgets. Shares of the company dropped over 10% in extended trading. Despite seeing a rise in …

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Canada to give lumber industry up to C$1.2 billion in aid to cope with US duties

5 Aug 2025

OTTAWA (Reuters) – Canada will provide up to C$1.2 billion ($870 million) to help softwood lumber producers deal with U.S. countervailing and anti-dumping duties, Prime Minister Mark Carney said on Tuesday. Carney, speaking to reporters in the Pacific province of British Columbia, said Ottawa would make up to C$700 million available in loan guarantees and …

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Senators ask US to probe data security issues with DeepSeek

5 Aug 2025

By David Shepardson (Reuters) -A group of seven Republican U.S. senators on Tuesday asked the Commerce Department to evaluate potential data security vulnerabilities posed by Chinese open-source AI models like DeepSeek. The senators led by Ted Budd and include Jon Husted, Todd Young, John Cornyn, John Curtis, Bill Cassidy and Marsha Blackburn want the Commerce …

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Clay valued at $3.1 billion in latest fundraise as AI continues to run hot

5 Aug 2025

By Ateev Bhandari (Reuters) -AI startup Clay’s valuation more than doubled in about three months to $3.1 billion in its latest funding round, as investors continue to pour money into artificial intelligence companies. Clay operates an AI-centered platform to automate sales and marketing operations, and counts Google and Reddit as customers. The startup raised $100 …

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Mexico reveals sweeping plan to bring down Pemex debt, boost investment and lift production

5 Aug 2025

By Ana Isabel Martinez and Adriana Barrera MEXICO CITY (Reuters) -Mexico’s government on Tuesday said it aimed to cease funding Pemex by 2027 when the highly-indebted state energy company should become financially self-sufficient, helped by a series of measures to bring down debt and stabilize production. Mexican President Claudia Sheinbaum, flanked by her energy and …

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BHP and Lundin will request Argentina incentives, but other miners fear missing out

5 Aug 2025

By Lucila Sigal SAN JUAN, Argentina (Reuters) -BHP and Lundin plan to soon apply for a new Argentine investment incentives scheme for their Vicuna copper project, but other miners fear they may get left out before the program’s cut-off date a year from now, executives said at a mining conference this week. Argentina’s Large Investment …

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CFTC seeks to allow spot crypto trading on registered exchanges

5 Aug 2025

(Reuters) -The U.S. Commodity Futures Trading Commission (CFTC) said on Monday it would launch an initiative to allow for trading of spot crypto asset contracts listed on a futures exchange registered with the agency. While not final, the move is another by the Trump administration to integrate digital assets more deeply into traditional finance, and …

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