(Corrects CEO James Snee’s age to 58 from 57 in paragraph 2) (Reuters) -Hormel Foods said on Monday former CEO Jeffrey Ettinger will return to helm the Skippy peanut butter maker on an interim basis for 15 months starting July 14. Ettinger, 66, served as chief executive from 2005 to 2016 and will replace current …
Hormel Foods’ former CEO Jeffrey Ettinger to return on interim basis Read More »
By Pete Schroeder WASHINGTON (Reuters) -The Federal Reserve announced on Monday it was directing its supervisors to no longer consider “reputational risk” when examining banks, scrapping a metric that had been a focus of industry complaints. The Fed said in a statement it was removing references to that risk in its supervisory manuals and other …
Fed to no longer police ‘reputational risk’ in banks Read More »
NEW YORK (Reuters) -Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday that thus far the surge in tariffs has had a more modest impact on the economy relative to what was expected. “Somewhat surprisingly, thus far, the impact of tariffs has not been what people feared,” Goolsbee said in public comments before …
Fed’s Goolsbee says tariffs have not had expected impact so far Read More »
By David Shepardson WASHINGTON (Reuters) – Senate Republicans cannot force the U.S. Postal Service to scrap thousands of electric vehicles and charging equipment in a massive tax and budget bill, the Senate parliamentarian said late on Sunday. The U.S. Postal Service currently has 7,200 electric vehicles, made up of Ford e-Transit vehicles and specially built …
Senate Republicans cannot force US Postal Service to scrap EVs, parliamentarian says Read More »
By David Shepardson WASHINGTON (Reuters) -Tesla told U.S. regulators that its answers to questions on the safety of its robotaxi deployment in Texas are confidential business information and should not be made public, according to a letter released on Monday. On Friday, the National Highway Traffic Safety Administration said it was reviewing answers given in …
Tesla seeks to keep Texas robotaxi data under wraps, regulator says Read More »
By Saeed Azhar and Pretish M J NEW YORK (Reuters) -Northern Trust is fully committed to remaining independent, the bank said on Monday, after the Wall Street Journal reported that Bank of New York Mellon had approached the asset and wealth manager to express interest in a merger. “I can tell you that Northern Trust …
Northern Trust commits to independence after WSJ report on potential merger with BNY Read More »
By Lucia Mutikani WASHINGTON (Reuters) -U.S. business activity slowed marginally in June, though prices increased further amid President Donald Trump’s aggressive tariffs on imported goods, suggesting that an acceleration in inflation was likely in the second half of the year. The anticipated rise in inflation has resulted in the Federal Reserve pausing its interest rate …
US business activity moderates; inflation pressures building up Read More »
(Corrects spelling of Imec in paragraph 8) By Stephen Nellis SAN FRANCISCO (Reuters) -Snowcap Compute, a startup working on building artificial intelligence computing chips using superconducting technology, on Monday raised $23 million and said that the former CEO of Intel will join its board. Snowcap aims to build computers that could one day beat today’s …
Snowcap Compute raises $23 million for superconducting AI chips Read More »
By Manya Saini (Reuters) -Fiserv on Monday unveiled plans to launch a stablecoin, joining a growing number of U.S. companies exploring the technology as the crypto asset moves into the mainstream. The announcement comes after the U.S. Senate passed a landmark stablecoin bill last week, which analysts said could mark a turning point in the …
Fiserv unveils plans to launch stablecoin with Circle, PayPal as partners Read More »
By Michael Martina and Stephen Nellis WASHINGTON/SAN FRANCISCO (Reuters) -AI firm DeepSeek is aiding China’s military and intelligence operations, a senior U.S. official told Reuters, adding that the Chinese tech startup sought to use Southeast Asian shell companies to access high-end semiconductors that cannot be shipped to China under U.S. rules. The U.S. conclusions reflect …
Exclusive-DeepSeek aids China’s military and evaded export controls, US official says Read More »
