Reuters US Business

The Hartford profit surges as insurance demand, investment income climb

29 Jul 2025

(Reuters) – The Hartford reported a 35% jump in second-quarter profit on Monday, as insurance spending remained strong and investment income rose. Despite reduced discretionary spending due to geopolitical and economic uncertainties, individuals and businesses continued prioritizing insurance investments to safeguard against risks. This trend benefited multi-line insurers such as The Hartford, which reported that …

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Waymo to launch autonomous ride-hailing in Dallas next year

29 Jul 2025

(Reuters) -Alphabet’s Waymo said on Monday it will roll out its autonomous ride-hailing service in Dallas in 2026, accelerating its U.S. expansion as electric vehicle maker Tesla pushes to grow its recently launched robotaxi business. After years of cautious growth, Waymo has recently increased its pace, launching in new cities through partnerships with ride-hailing platforms …

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Harley-Davidson in talks to sell stake in financing unit, Bloomberg News reports

29 Jul 2025

(Reuters) -Harley-Davidson is in talks with Pacific Investment Management Co and KKR & Co. to sell a stake in its financing unit and existing motorcycle loan portfolio in a deal worth $5 billion, Bloomberg News reported on Monday. Shares of the company were up 1.9% in extended trade. Conversations are ongoing, and a deal may …

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Air Canada’s quarterly profit falls on weak US travel demand

29 Jul 2025

(Reuters) -Air Canada reported a drop in second-quarter profit on Monday, weighed down by weak passenger traffic to its key U.S. market amid strained trade relations between the two countries. Canadians are increasingly boycotting U.S.-made goods and canceling trips to the United States following President Donald Trump’s tariffs on Canada and his controversial remarks suggesting …

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Bank of America appoints new tech chief as Bhasin retires, memo shows

29 Jul 2025

NEW YORK (Reuters) -Bank of America’s chief technology and information officer, Aditya Bhasin, is retiring from the lender and will be replaced by Hari Gopalkrishnan, according to an internal memo seen by Reuters on Monday. Bhasin, whose career spans more than two decades at BofA, will take on a new role outside the bank advising …

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America Movil restructures Chile business after Liberty Latin America buy-out

28 Jul 2025

MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil will overhaul its operations in Chile, it said on Monday, after it took full control of the unit in a share purchase from Liberty Latin America. America Movil and Liberty Latin America announced in 2021 they were launching the Chilean joint venture, combining America Movil’s Claro Chile …

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Insurance broker Brown & Brown’s profit climbs on fee and commission growth

28 Jul 2025

(Reuters) -Brown & Brown posted a rise in second-quarter profit on Monday as the insurance broker benefited from higher commissions and fees driven by growing demand. Insurance spending has continued to grow, even as businesses and individuals pull back in other areas, driven by efforts to guard against climate-related disasters and emerging risks such as …

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Steelmaker Nucor quarterly profit falls on rising raw material costs

28 Jul 2025

(Reuters) -Nucor on Monday posted a fall in second-quarter profit, as rising raw material costs pressured the company’s steelmaking segment, sending its shares down 3.8% after the bell. While U.S. steelmakers benefited from President Trump’s tariffs on steel imports — which pushed spot prices higher — the quarter also saw increased raw material costs. The …

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Cincinnati Financial’s quarterly profit more than doubles on higher premiums, interest income

28 Jul 2025

(Reuters) -Property and casualty insurer Cincinnati Financial reported on Monday that its second-quarter profit more than doubled, reflecting higher premiums and investment income. The results reflect the stability of insurance firms, even as trade tensions disrupt other businesses. As consumers and companies grow accustomed to economic uncertainty, spending on policies has remained steady. Earned premiums …

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Scale AI competitor Micro1 raising funds at $500 million valuation, sources say

28 Jul 2025

By Anna Tong SAN FRANCISCO (Reuters) -Scale AI competitor Micro1 is finalizing a Series A round valuing the startup at $500 million, according to two sources familiar with the matter. Micro1 provides data labeling services to artificial intelligence labs, a sector that has grown tremendously in recent years as high-quality, human-generated datasets have become more …

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