Reuters US Business

By Nate Raymond (Reuters) -Fishing companies and offshore wind opponents filed a lawsuit on Tuesday challenging the Trump administration’s decision to reverse course and allow construction to resume on Empire Wind, a $5 billion wind farm project off New York’s coast. Protect Our Coast New Jersey, Clean Ocean Action, ACK for Whales and 12 fishing …

Wind opponents sue Trump administration to block New York wind project Read More »

NEW YORK (Reuters) – The U.S. Federal Reserve announced late on Tuesday that Wells Fargo will no longer have to operate under a $1.95-trillion asset cap that the regulator imposed on the bank in 2018, following its long-running sales practices scandal. Wells Fargo shares rose 2.1% after the bell at $77.27. COMMENTS CHRIS MARINAC, JANNEY …

Instant View: Wells Fargo asset cap lifted, allowing bank to grow Read More »

By Saeed Azhar, Kanchana Chakravarty and Sukriti Gupta NEW YORK (Reuters) -U.S. stock indexes closed higher on Tuesday, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington’s tariff plans. President Donald Trump and Chinese leader Xi Jinping are …

Wall Street stocks end higher on Nvidia, trade talks hopes Read More »

(Reuters) -Hewlett Packard Enterprise beat Wall Street’s second-quarter revenue and profit estimates on Tuesday, driven by demand for its artificial-intelligence servers and hybrid cloud segment. Shares of the server-maker, which also recorded an impairment charge of $1.36 billion in the reported quarter, rose 3.2% in extended trading. The company has benefited from a surge in …

Hewlett Packard beats Q2 results estimates on AI demand; records $1.36 billion charge Read More »

(Reuters) -CrowdStrike forecast second-quarter revenue below Wall Street estimates, signaling weaker government and enterprise spending on cybersecurity products, sending the company’s shares down 5.7% after the bell on Tuesday. Higher interest rates and sticky inflation have forced clients to rein in tech spending, weighing on demand for companies such as CrowdStrike, despite an increasing need …

CrowdStrike forecasts downbeat second-quarter revenue, shares fall Read More »

By David Shepardson WASHINGTON (Reuters) -New tariffs on imported commercial aircraft, jet engines and parts could put air safety and the supply chain at risk or trigger other unintended consequences, groups representing global aerospace companies and U.S. airlines warned on Tuesday. The industry already faces 10% tariffs on nearly all imported planes and parts after …

US tariffs could put air safety at risk, aerospace and airline industries warn Read More »

By Ernest Scheyder and Jarrett Renshaw (Reuters) -President Donald Trump is set to use emergency powers and slash legal requirements – including some congressional funding approvals – relating to a law aimed at lifting U.S. production of critical minerals and weapons, according to a document seen by Reuters. Trump’s action would apply to the Defense …

Exclusive-Trump set to waive some legal requirements to boost critical minerals Read More »

(Reuters) -Citigroup said on Tuesday it was rolling back a 2018 policy that placed restrictions on providing banking services to retail clients selling firearms, citing recent regulatory developments. Since the Trump administration took office in January, U.S. banks and regulators have come under scrutiny from lawmakers over allegations of denying services to certain industries or …

Citi to drop policy restricting services to retail clients selling firearms Read More »