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Thermo Fisher plans to sell parts of diagnostics unit for $4 billion, FT reports

13 Jun 2025

(Reuters) -Thermo Fisher Scientific plans to sell its diagnostics unit for about $4 billion in an attempt to offload some of its low-growth assets, the Financial Times reported on Thursday, citing people familiar with the matter. The contract drug manufacturer recently enlisted advisers to explore private equity interest in part of its diagnostics business, including …

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ADM sets off ‘frenzy’ in US soybean market ahead of new biofuel blend rule

13 Jun 2025

By Tom Polansek and Karl Plume CHICAGO (Reuters) -Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, slashed its bids to buy the oilseed this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil. Processors such as Chicago-based ADM have been waiting for the …

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S&P 500 ends higher as Oracle reignites AI rally; Boeing drops

13 Jun 2025

By Noel Randewich and Sukriti Gupta (Reuters) -The S&P 500 ended higher on Thursday after a strong outlook from Oracle fueled optimism around artificial intelligence, offsetting worries about tension in the Middle East and a drop in Boeing shares. Oracle surged 13.3% to record highs after the cloud service provider raised its annual revenue growth …

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California, 10 other states sue to block Trump from killing 2035 EV rules

13 Jun 2025

By David Shepardson WASHINGTON (Reuters) -A group of 11 states led by California on Thursday filed suit challenging a repeal by Congress of the state’s 2035 electric vehicle rules and heavy duty truck requirements. U.S. President Donald Trump on Thursday signed three resolutions approved by lawmakers barring California’s electric vehicle sales mandates and diesel engine …

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Nvidia to exclude China from forecasts amid US chip export curbs, CNN reports

13 Jun 2025

By Juby Babu (Reuters) -Nvidia will no longer include the China market in its revenue and profit forecasts following stringent U.S. trade restrictions on chip sales to the region, CEO Jensen Huang told CNN on Thursday. When asked if the United States would lift the export controls after the trade discussions with China in London …

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NY State Public Service Commission approves 29 power projects, valued at $636.2 million

12 Jun 2025

(Reuters) -The New York State Public Service Commission approved 29 infrastructure projects worth $636.2 million, enabling 642 megawatts of electrification upgrades, the commission said on Thursday. These projects were proposed by Consolidated Edison, Niagara Mohawk Power Corporation, New York State Electric & Gas Corporation (NYSEG), and Rochester Gas and Electric Corporation (RG&E). “The urgent grid …

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Home appliances swept up in expansion of Trump steel tariffs

12 Jun 2025

(Reuters) -A range of imported household appliances including dishwashers, washing machines, refrigerators and more will be subject to President Donald Trump’s expanded steel tariffs starting later this month, according to a notice posted on Thursday. The tariffs, which are currently at 50% for most countries, would take effect on an additional range of “steel derivative …

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Effort to strip Fed of interest paying power seen likely to bring upheaval to markets

12 Jun 2025

By Michael S. Derby NEW YORK (Reuters) -A Republican senator’s plan to take away the Federal Reserve’s power to pay banks interest on cash they park on central bank books could cause chaos for monetary policy implementation if it were implemented, market participants said.   In recent days, Senator Ted Cruz of Texas has been speaking …

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Adobe raises annual forecasts on steady adoption of AI-powered tools

12 Jun 2025

(Reuters) -Adobe raised its full-year results forecast on Thursday, helped by continued demand for its AI-powered software tools that generate images and video content.  The company, an industry veteran in the creative software market, is known for its flagship products, such as Photoshop and Premiere Pro, which have become essential tools for professionals worldwide. Despite …

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