Reuters US Business

By Christoph Steitz RASTATT, Germany (Reuters) -Mercedes-Benz is talking to its top suppliers about building rare earth stockpiles even though the carmaker has not seen any impact from a shortage that has caused some suppliers to shut down plants and production lines. “We have learnt a lot from the semiconductor situation in the automotive industry …

Mercedes-Benz: in talks with suppliers over rare earth ‘buffers’ Read More »

By Pete Schroeder, Nupur Anand WASHINGTON (Reuters) -Wells Fargo was released from a punitive, seven-year-long $1.95 trillion cap on its assets on Tuesday after the U.S. Federal Reserve lifted the regulatory measure, allowing the bank to pursue unimpeded growth. The move handed a major victory to CEO Charlie Scharf, who has been cleaning up the …

Wells Fargo escapes Fed’s asset cap after seven years, able to pursue growth Read More »

By Nupur Anand NEW YORK (Reuters) -When Charlie Scharf took over as Wells Fargo CEO nearly six years ago, he said its culture was broken. On Tuesday, the Fed said the bank’s problems were mostly fixed as it lifted a $1.95 trillion asset cap imposed in 2018. Scharf, 60, thanked Wells Fargo’s 215,000 employees after …

How Charlie Scharf got Wells Fargo out of the penalty box Read More »

By Scott Murdoch (Reuters) -Virgin Australia is set to return to the stock market after a five-year absence, with the Bain Capital-owned airline launching a A$685 million ($443 million) initial public offering on Wednesday amid a rebound in domestic tourism. The offering, Australia’s largest for the year so far, will see Bain’s stake drop to …

Virgin Australia returns to stock market with launch of $443 million IPO Read More »

(Corrects headline to reflect that the milestone was at a New York airport, not that it was the first such aircraft ever) (Reuters) – Beta Technologies became the first U.S. company to land an all-electric aircraft at an airport in the New York-New Jersey region, the company and port authorities said in Tuesday. The flight …

Beta Technologies, in a first, lands passenger-carrying electric aircraft at NY airport Read More »

(Corrects paragraph 14 to remove reference to Google and Amazon declining to comment. This line also appeared in an earlier version of this story.) By Anna Tong and Krystal Hu SAN FRANCISCO (Reuters) -Two years after the launch of ChatGPT, return on investment in generative AI has been elusive, but one area stands out: software …

AI startups revolutionize coding industry, leading to sky-high valuations Read More »