Reuters US Business

By Richard Cowan and David Morgan WASHINGTON (Reuters) -Hardline conservative Republicans in the U.S. Senate and billionaire Elon Musk showed no sign of softening opposition to President Donald Trump’s tax-cut and spending bill on Wednesday, as they pushed for deeper reductions in government outlays. The nonpartisan Congressional Budget Office on Wednesday estimated the bill — …

Musk, hardline US Republicans ramp up attacks on Trump tax and spending bill Read More »

By Stephen Nellis SAN FRANCISCO (Reuters) -The CEO of LinkedIn will take additional responsibility for Microsoft’s Office products, while an executive responsible for one of the company’s leading business-to-business artificial intelligence products will start reporting to head of the company’s Windows unit, according to a memo from Microsoft CEO Satya Nadella viewed by Reuters. Ryan …

LinkedIn CEO to take over Office, more AI duties in Microsoft executive shuffle  Read More »

WASHINGTON (Reuters) -U.S. economic output will fall as a result of President Donald Trump’s new tariffs on foreign goods that were in place as of May 13, while also reducing federal budget deficits by $2.8 trillion over a decade, the non-partisan Congressional Budget Office said on Wednesday. In a letter to Senate Democratic Leader Chuck …

US Congress budget office sees economic output falling from Trump tariffs Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) -Jefferies has hired a veteran Lazard banker as global head of the firm’s activism defense practice, people familiar with the situation said on Wednesday, as more corporations face pressure from activist investors. The New York-headquartered bank is bringing on Richard Thomas, a managing director who has served as co-head …

Jefferies hires Lazard’s Thomas for activism defense, sources say Read More »

By David Shepardson WASHINGTON (Reuters) – The acting head of the Federal Aviation Administration said he is not currently considering lifting a production cap of 38 planes per month on Boeing’s 737 MAX imposed after a January 2024 mid-air emergency involving a new Alaska Airlines Boeing plane missing four key bolts. “Not at this time,” …

US FAA not currently considering lifting Boeing 737 MAX production cap Read More »

By Ann Saphir (Reuters) -U.S. economic activity has declined and higher tariff rates have put upward pressure on costs and prices in the weeks since Federal Reserve policymakers last met to set interest rates, the U.S. central bank said on Wednesday in its latest snapshot of the nation’s economy. “On balance, the outlook remains slightly …

US economic activity declines as tariffs pressure prices, Fed says Read More »

(Reuters) -Discount store operator Dollar Tree forecast its second-quarter adjusted profit to be down as much as 50% from a year ago, accounting for cost pressures due to tariffs and the pending Family Dollar sale. The Donald Trump administration’s rollercoaster tariff swings have thrown businesses into turmoil and unsettled consumers worldwide who now brace for …

Dollar Tree forecasts weak second-quarter profit on tariff uncertainty Read More »

(Inserts missing letter in paragraph 5 in ZBS Partners) By Krystal Hu -Crete Professionals Alliance, an accounting platform backed by Thrive Capital, plans to invest over $500 million to acquire U.S.-based accounting firms in the next two years, and equip them with OpenAI-powered artificial intelligence technology to boost efficiency, company executives told Reuters. Crete PA …

Thrive-backed accounting firm Crete to spend $500 million in AI roll-up Read More »

By Stephen Nellis SAN FRANCISCO (Reuters) -Nvidia’s newest chips have made gains in training large artificial intelligence systems, new data released on Wednesday showed, with the number of chips required to train large language models dropping dramatically. MLCommons, a nonprofit group that publishes benchmark performance results for AI systems, released new data about chips from …

Nvidia chips make gains in training largest AI systems, new data shows Read More »