By Joey Roulette NASSAU, Bahamas (Reuters) -When SpaceX was negotiating a deal with the Bahamas last year to allow its Falcon 9 rocket boosters to land within the island nation’s territory, Elon Musk’s company offered a sweetener: complimentary Starlink internet terminals for the country’s defense vessels, according to three people familiar with the matter. But …
How SpaceX’s rocket diplomacy backfired in the Bahamas Read More »
WASHINGTON (Reuters) -The Surface Transportation Board said on Wednesday that Union Pacific and Norfolk Southern have formally filed a notice of intent to combine, triggering the U.S. regulatory review process for a proposed $85 billion merger between the two major railroads. The STB said the railroads intend to file their application by January 29. Once …
Union Pacific, Norfolk Southern aim to file merger application by Jan 29 Read More »
By Jasper Ward WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent on Wednesday likened new savings accounts in a bill President Donald Trump this month signed into law to “a backdoor for privatizing Social Security,” speaking at an event sponsored by Breitbart. The accounts, which were part of Trump’s sweeping tax-cut and spending bill, are meant …
Bessent calls Trump baby accounts ‘backdoor for privatizing Social Security’ Read More »
PANAMA CITY (Reuters) -Panama’s comptroller general, Anel Flores, said on Wednesday he had filed suit to the nation’s Supreme Court against a contract to operate ports near the Panama Canal, held by a local firm controlled by Hong Kong-based CK Hutchison. Flores said the two suits were to declare the unconstitutionality and to nullify the …
Panama auditor files suit to scrap CK Hutchison-controlled port contract Read More »
By Chuck Mikolajczak (Reuters) -U.S. stocks closed well off earlier highs after a choppy session on Wednesday, as Federal Reserve Chair Jerome Powell chilled expectations the central bank might be poised to cut rates at its September meeting. In keeping rates unchanged, as was widely expected, the central bank said “the unemployment rate remains low, …
Equities retreat as Powell dampens Fed Sept cut hopes Read More »
By Howard Schneider and Michael S. Derby WASHINGTON (Reuters) -The U.S. central bank held interest rates steady on Wednesday and Federal Reserve Chair Jerome Powell’s comments after the decision undercut confidence that borrowing costs would begin to fall in September, possibly stoking the ire of President Donald Trump who has demanded immediate and steep rate relief. …
Fed leaves rates steady despite Trump pressure, gives no hint of September cut Read More »
(Reuters) -E-commerce firm eBay forecast third-quarter revenue above Wall Street expectations and beat revenue estimates on Wednesday, helped by robust demand for collectibles and renewed interest in Pokemon cards, sending its shares up over 10% in extended trading. EBay is likely to compete well in an environment of higher product prices due to tariffs and …
EBay sees quarterly revenue above estimates, shares jump Read More »
(Reuters) -Drugmaker AbbVie is in talks to acquire privately-held mental health therapeutics company Gilgamesh Pharmaceuticals in a deal worth about $1 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter. The U.S. drugmaker has spent over $20 billion on acquisitions since 2023 as its flagship rheumatoid arthritis treatment, Humira, lost patent protection. …
AbbVie in talks to acquire Gilgamesh Pharmaceuticals, Bloomberg News reports Read More »
By Vallari Srivastava (Reuters) -Albemarle, the world’s largest producer of lithium for rechargeable batteries, posted a surprise second-quarter profit on Wednesday, helped by sustained demand for the metal, sending its shares up over 6% after the bell. Lithium’s use in electric vehicles, large-scale battery storage and other electronic applications has grown rapidly, with demand up …
Albemarle posts surprise second-quarter profit on lithium demand; shares surge Read More »
By Michael S. Derby NEW YORK (Reuters) -U.S. Federal Reserve Chair Jerome Powell on Wednesday said there is no place for the central bank to consider government financing needs when setting interest rate policy. “We have a mandate” from Congress, and that is to keep inflation in check and the job market as strong as it …
Powell says Fed does not consider government interest rate costs in policy debate Read More »
