(Reuters) -President Donald Trump said on Thursday he would not destroy Elon Musk’s companies by taking away federal subsidies and that he wants the billionaire tech entrepreneur’s businesses to thrive. The remarks follow a public clash with his former close ally over his tax bill. In July, the space and automotive billionaire announced the formation …
Trump says he wants Musk and his companies to thrive in US Read More »
By Jun Yuan Yong SINGAPORE (Reuters) -Economists are split on whether Singapore’s central bank will loosen monetary policy or leave settings unchanged in its scheduled review next week as the economy remains resilient despite weakening global growth. Of 12 analysts Reuters polled, six expect the Monetary Authority of Singapore to loosen its currency-based monetary policy …
Economists split on Singapore monetary policy after surprise growth Read More »
By Arsheeya Bajwa, Stephen Nellis and Max A. Cherney (Reuters) -Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue “no more blank checks.” …
Intel is cutting more jobs as CEO Tan tries to fix manufacturing missteps Read More »
By Bernardo Caram BRASILIA (Reuters) -Brazilian Vice President Geraldo Alckmin said on Thursday that he had reiterated his country’s willingness to negotiate proposed U.S. tariffs on imports from Latin America’s No. 1 economy during a conversation on Saturday with U.S. Commerce Secretary Howard Lutnick. Alckmin said he and Lutnick had a “good” conversation last week …
Brazil VP hails ‘good’ and ‘fruitful’ conversation with Lutnick on tariffs Read More »
By Noel Randewich and Pranav Kashyap (Reuters) -The S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks, while Tesla slumped after the electric vehicle maker’s results disappointed investors. Alphabet rose 1% as the search giant’s results boosted confidence …
S&P 500 and Nasdaq notch record closes, lifted by Alphabet Read More »
By Lewis Jackson, Jiaxing Li and Amy Lv BEIJING/HONG KONG (Reuters) -Commodity prices from steel to polysilicon have surged this month as Chinese investors bet Beijing is finally serious about addressing overcapacity across the world’s second-largest economy. Prices for nine industrial commodities including coal, steel, polysilicon, a building block for solar panels, alumina and lithium …
Markets bet Beijing is getting serious about China’s overcapacity Read More »
By Sheila Dang HOUSTON (Reuters) -Chevron leaders told Hess employees to stay focused on safe operations and that they will hear next week if they will continue to have jobs following the oil producer’s acquisition, according to two Hess employees who spoke with Reuters. Chevron, the second-largest U.S. oil producer, closed its $55 billion acquisition …
Chevron tells Hess staff to focus on safety as they await job updates Read More »
By Sarah Morland and Aida Pelaez-Fernandez MEXICO CITY (Reuters) -Shares in Becle, the world’s largest tequila producer, surged over 7% on Thursday after it reported a quadrupling in its second-quarter profit despite shrinking demand, and as executives indicated signs of recovery in the company’s main markets. Becle, which makes the bulk of its income from …
Becle’s stock surges after world’s top tequila maker profit jumps Read More »
By David Shepardson OSHKOSH, Wisconsin (Reuters) -The new head of the Federal Aviation Administration said on Thursday the current state of the aging, understaffed U.S. air traffic control system is “not acceptable,” vowing an aggressive modernization effort. New FAA Administrator Bryan Bedford also said morale at the agency is “kind of low” after a fatal …
New FAA administrator says state of US air traffic unacceptable, morale low at agency Read More »
(Reuters) -German sportswear brand Puma expects to make a loss this year, it said on Thursday, slashing its financial outlook due to weaker sales and an expected hit to gross profit from the impact of U.S. tariffs. Puma has been struggling to boost sales and profits, and the board named a new chief executive in …
Puma expects a loss this year due to falling sales, US tariffs Read More »
