Reuters US Business

By Stephen Culp (Reuters) -U.S. stocks took a breather on Wednesday, pausing a two-day rally as the tenuous Israel-Iran cease fire continued to hold and investors pored over a second day of congressional testimony from Federal Reserve Chair Jerome Powell. Tech shares lifted the Nasdaq, while the S&P 500 ended flat. The benchmark index remained …

Wall Street ends mixed amid cooling Middle East tensions; Powell in focus Read More »

By Harshita Mary Varghese and Stephen Nellis (Reuters) -Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday on robust demand for its high-bandwidth memory (HBM) chips used in artificial intelligence data centers. The memory chip maker reported a nearly 50% jump in third-quarter sales of its HBM chips from the previous three months, …

Micron forecasts revenue above estimates on AI-driven memory chip demand Read More »

By Fabian Cambero and Daina Beth Solomon SANTIAGO (Reuters) -The world’s second-biggest lithium miner SQM has begun laying off 5% of its Chilean workforce as it contends with a protracted slump in global prices for the battery metal, according to a company source and a union memo to workers seen by Reuters on Wednesday. Lithium …

Lithium miner SQM cuts 5% of Chile workforce as prices fail to bounce back Read More »

By Lananh Nguyen and Niket Nishant (Reuters) -Jefferies’ second-quarter profit fell short of estimates as equity underwriting weakness offset gains from merger advisory fees, but the investment bank said dealmaking could rebound later in 2025 as the economic outlook becomes clearer. Uncertainty due to U.S. policy and geopolitical events slowed investment banking activity in the …

Jefferies profit misses estimate on weak equity underwriting; eyes rebound later in 2025 Read More »

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell on Wednesday pushed back against reports the central bank was spending money excessively on renovations, saying that the almost 90-year-old headquarters “was not really safe,” while acknowledging cost overruns. “The media reports … are misleading and inaccurate in many, many respects,” Powell said …

Powell calls reports of lavish Fed building renovations inaccurate Read More »

By David Shepardson WASHINGTON (Reuters) -A major trade group representing General Motors, Toyota Motor, Volkswagen, Hyundai and other automakers sharply criticized the National Highway Traffic Safety Administration, saying the auto safety regulator is impeding progress and struggling to modernize. “Its fractured relationship with the industry, decades-old safety regulations, and lack of a clear strategic roadmap …

Major automakers criticize US auto safety agency, call for reform Read More »

(Adds missing word “that” to headline) By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Trump administration’s tariff plans may well just cause a one-time jump in prices, but the risk it could cause more persistent inflation is large enough for the central bank to be careful in considering further rate cuts, Federal Reserve Chair …

Powell says Fed needs to manage against risk that tariff inflation proves persistent Read More »

By Marianna Parraga HOUSTON (Reuters) -Black Lion Citgo Group, a consortium led by private equity firm Black Lion Capital Advisors, submitted an $8 billion all-cash bid for the parent of Venezuela-owned U.S. refiner Citgo Petroleum as part of a court-organized auction of shares, the company said in a filing released on Wednesday. Following the selection …

Black Lion submits $8 billion cash bid for Citgo’s parent Read More »

By Pete Schroeder WASHINGTON (Reuters) -The Federal Reserve unveiled a proposal on Wednesday that would overhaul how much capital large global banks must hold against relatively low-risk assets, as part of a bid to boost participation in U.S. Treasury markets. That plan, which the Fed voted to advance by a vote of 5-2, is the …

Fed advances plan to ease bank leverage requirements Read More »

By Jeff Mason and Nandita Bose THE HAGUE (Reuters) -President Donald Trump on Wednesday called Federal Reserve Chair Jerome Powell “terrible” in his latest attack on the central bank chief and said he has three or four people in mind as contenders for the top Fed job. “I know within three or four people who …

Trump says he is considering three or four candidates for next Fed chair Read More »