Reuters US Business

By Brendan O’Boyle (Reuters) -U.S. President Donald Trump signed an executive order on Wednesday imposing a 40% tariff on Brazilian exports, bringing the country’s total tariff amount to 50%. Some of Brazil’s major exports, however, were exempted from the tax. Notable exemptions include products already covered by other specific tariffs, like passenger vehicles, iron and …

Factbox-Some key Brazilian exports spared from Trump’s new 40% tariff Read More »

By Noel Randewich (Reuters) -Wall Street’s AI heavyweights added a combined half a trillion dollars in stock market value late on Wednesday after quarterly reports from Microsoft and Meta Platforms showed massive investments in the emerging technology were paying off. In extended trade, Microsoft jumped 8% and Meta surged 9%, with the two Magnificent Seven …

Microsoft and Meta fuel $500-billion gain in AI stocks Read More »

By Waylon Cunningham (Reuters) -The National Restaurant Association said it was “extremely concerned” about the possibility of new tariffs in a letter sent to U.S. Trade Representative Jamieson Greer on Tuesday. Trump earlier in July threatened to impose 30% tariffs on imports from Mexico and the European Union starting on August 1. The letter said …

National Restaurant Association lobbies against US tariffs Read More »

(Reuters) -Data center firm Equinix raised its forecast for annual results on Wednesday, signaling steady demand from its enterprise customers investing in AI solutions. The company has benefited from the increased demand for data center infrastructure amid a surge in artificial intelligence usage. Major cloud firms, including Google, have pledged significant investments this year to …

Equinix raises annual results forecast on steady data center demand Read More »

(Reuters) -Prudential Financial on Wednesday reported a rise in second-quarter profit, lifted by stronger fees in investment management and favorable underwriting in its international businesses. U.S. equities resumed their rally after a brief wobble sparked by tariff concerns, as investors brushed off trade tensions and refocused on strong corporate earnings and signs of resilience in …

Prudential Financial’s profit rises on PGIM, international business strength Read More »

By Jamie McGeever ORLANDO, Florida (Reuters) -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  The dollar and U.S. bond yields rose while Wall Street mostly fell in an eventful session on Wednesday, as investors digested U.S. and euro zone GDP figures, new tariffs from the White House, and …

Trading Day: Powell in no rush to cut Read More »

(Reuters) -IT consulting company Cognizant Technology forecast third-quarter revenue above Wall Street expectations on Wednesday, owing to strong spending from customers looking to integrate artificial intelligence into their platforms. Cognizant’s services have seen strong uptake from enterprises looking to automate processes and shift workloads to the cloud as they adopt AI in the hopes of …

Cognizant sees quarterly revenue above estimates on strong enterprise demand Read More »