Reuters US Business

By David Shepardson and Michael Martina WASHINGTON (Reuters) -Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks.  In a previously unreported May 9 letter to Trump …

Exclusive-Car makers warn China’s rare-earth curbs could halt production Read More »

By Chibuike Oguh NEW YORK (Reuters) -Global stocks finished down on Friday but notched a weekly gain and the biggest monthly increase since late 2023, despite markets having been roiled by uncertainty over the Trump administration’s tariff policies. Sentiments were initially buoyed at the start of the week by signs of easing trade tensions between …

Stocks finish lower but notch strong monthly gain despite tariff worries Read More »

By Ateev Bhandari (Reuters) -JPMorgan Chase CEO Jamie Dimon said on Friday that the U.S. should be taxing carried interest, joining the criticism of a loophole that enables private market investors to benefit from lower taxes. “We absolutely should be taxing carried interest,” the biggest U.S. bank’s top boss said in an interview at the …

JPMorgan CEO Dimon backs US taxing carried interest, warns of bond market trouble Read More »

By Lewis Krauskopf NEW YORK (Reuters) -Key U.S. economic data, developments with federal tax-and-spending legislation and twists and turns on trade all are poised to influence equities in the coming week, with the U.S. market closing in on record highs. The S&P 500 ended on Friday with a weekly gain and less than 4% from …

Jobs data, tax bill, trade on tap for rebounding US stocks Read More »

By Erwin Seba HOUSTON (Reuters) -U.S. crude futures fell on Friday as traders expected OPEC+ would decide on Saturday to boost oil output for July beyond previous forecasts. Brent crude futures settled down 25 cents, or 0.39%, at $63.90 a barrel. U.S. West Texas Intermediate crude finished down 15 cents, or 0.25%, at $60.79 a …

Oil finishes down on possible OPEC+ output hike Read More »

By Jonathan Stempel (Reuters) -A Skechers USA shareholder has sued the footwear maker for more details about its $9.4 billion buyout by private equity firm 3G Capital, saying the decision by Skechers’ founder and controlling shareholder to sell raises “red flags.” According to a complaint filed on Thursday in Los Angeles federal court, founder Robert …

Skechers shareholder sues footwear maker for details on $9.4 billion 3G buyout Read More »

By Curtis Williams HOUSTON (Reuters) -Cheniere Energy said on Friday it has begun annual maintenance work on its liquefied natural gas plant in Sabine Pass, Texas, the largest U.S. LNG plant. Sabine Pass has annual capacity of 30 million metric tonnes per annum (mtpa) and has played a major role in making the U.S. the …

Cheniere Energy says maintenance work begun on Sabine Pass LNG plant Read More »

By Timothy Gardner WASHINGTON (Reuters) -The U.S. has axed awards to 24 green energy projects issued during President Joe Biden’s administration that totaled more than $3.7 billion, including one at an Exxon refinery complex in Texas, the Energy Department said on Friday. The administration of President Donald Trump has said it is evaluating publicly funded …

US axes 24 clean energy projects, including at Exxon’s Baytown Read More »