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By David Shepardson WASHINGTON (Reuters) -U.S. Senate Republicans on Thursday proposed eliminating fines for failures to meet Corporate Average Fuel Economy rules as part of a wide-ranging tax bill – the latest move aimed at making it easier for automakers to build gas-powered vehicles. Last year, Chrysler-parent Stellantis paid $190.7 million in civil penalties for …

US Senate Republicans propose eliminating fuel economy fines for automakers Read More »

By Lisandra Paraguassu and Ricardo Brito BRASILIA (Reuters) -Brazil’s government is expected to back a bill proposing a 10% cut to federal tax breaks, two sources told Reuters on Thursday, in a move that could allow it to scrap a controversial increase in the tax on financial transactions (IOF) proposed last month. The bill, which …

Exclusive-Brazil government to back bill cutting tax breaks by 10%, say sources Read More »

(Reuters) -Paramount Global chair Shari Redstone was diagnosed with thyroid cancer earlier this spring, a spokesperson for Redstone said in a statement to Reuters on Thursday. After experiencing fatigue and other symptoms, Redstone sought medical help about two months ago and was diagnosed with thyroid cancer the next day. While surgeons removed her thyroid gland, …

Paramount chair Shari Redstone confirms thyroid cancer diagnosis Read More »

By Saeed Azhar, Kanchana Chakravarty and Sukriti Gupta NEW YORK (Reuters) – Wall Street’s stock indexes ended lower on Thursday in choppy trade as a slump in Tesla shares offset news of progress in tariff talks between U.S. President Donald Trump and Chinese leader Xi Jinping. Shares of electric car-maker Tesla dropped more than 14% …

Wall Street stocks end down as Tesla slumps 14% on Trump-Musk feud Read More »

By Arasu Kannagi Basil and Hannah Lang (Reuters) -Stablecoin issuer Circle Internet’s shares more than doubled in their debut on the New York Stock Exchange on Thursday, firing up the IPO market that has struggled to regain momentum. The New York-based company’s stock opened for trading at $69 apiece, valuing the stablecoin issuer at nearly …

Stablecoin giant Circle’s shares surge in blowout NYSE debut Read More »

By Harshita Mary Varghese and Max A. Cherney (Reuters) -Broadcom forecast third-quarter revenue above Wall Street estimates on Thursday, betting on strong demand for its networking and custom AI computing chips. However, the company’s shares fell 4% in extended trading, after gaining about 12% this year, as the forecast failed to impress investors who have …

Broadcom rides on AI chip demand to deliver upbeat revenue forecast Read More »

-Sunnova Energy said on Thursday it would lay off about 55% of its workforce, or 718 employees, in a bid to rein in spending as the residential solar panel installer grapples with a massive debt pile and sluggish demand. The company, which is restructuring its debt, had warned in March that it might not be …

Sunnova Energy to lay off 718 employees Read More »

By Aishwarya Venugopal and Jessica DiNapoli (Reuters) -Procter & Gamble will cut 7,000 jobs over the next two years, as the Tide detergent maker contends with an uncertain spending environment, fueled in part by U.S. tariffs that have roiled numerous consumer companies. The world’s largest consumer goods company also plans to exit some product categories …

Procter & Gamble to cut 7,000 jobs, exit brands as consumer uncertainty weighs Read More »