Reuters US Business

Musk said he was chainsawing government spending. It was more like a trim

30 May 2025

By Brad Heath, Jason Lange, Andy Sullivan, Grant Smith WASHINGTON (Reuters) -Elon Musk once famously wielded a chainsaw on stage in a theatrical demonstration of his effort to drastically cut U.S. federal spending under President Donald Trump. As he leaves government, official data shows he achieved something closer to a trim with scissors.  In the …

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Analysis-Argentina takes baby step toward financial order with pricey $1 billion debt auction 

30 May 2025

By Rodrigo Campos, Walter Bianchi and Jorge Otaola NEW YORK/BUENOS AIRES (Reuters) -Argentina’s first major bond sale in seven years, a $1 billion offering with payments in pesos, is a clear sign that global investors are regaining their faith in a country recently mired in triple-digit inflation. But the nearly 30% yield, higher than many …

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Exclusive-Synopsys halts China sales due to US export restrictions, internal memo shows

30 May 2025

By Liam Mo and Brenda Goh BEIJING (Reuters) -Semiconductor design software firm Synopsys has told staff in China to halt services and sales in the country and stop taking new orders to comply with new U.S. export restrictions, according to an internal letter reviewed by Reuters. The U.S. has ordered a broad swathe of companies …

Exclusive-Synopsys halts China sales due to US export restrictions, internal memo shows Read More »

Trump’s tariff tally: $34 billion and counting, global companies say

30 May 2025

By Sayantani Ghosh, David Gaffen, Arpan Varghese SAN FRANCISCO/NEW YORK/BENGALURU (Reuters) -President Donald Trump’s trade war has cost companies more than $34 billion in lost sales and higher costs, according to a Reuters analysis of corporate disclosures, a toll that is expected to rise as ongoing uncertainty over tariffs paralyzes decision making at some of …

Trump’s tariff tally: $34 billion and counting, global companies say Read More »

US SEC dismisses lawsuit against Binance crypto exchange

30 May 2025

By Jonathan Stempel (Reuters) -The U.S. Securities and Exchange Commission on Thursday voluntarily dismissed its civil lawsuit against Binance, the world’s largest cryptocurrency exchange, extending the regulator’s new approach to cryptocurrencies since President Donald Trump reentered the White House. A joint stipulation of dismissal signed by lawyers for the SEC, Binance and Binance founder Changpeng …

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Australia retail sales slip in April as consumers stay frugal

30 May 2025

By Wayne Cole SYDNEY (Reuters) -Australian retail sales slipped unexpectedly in April as warm weather hit spending on winter clothing, data showed on Friday, while department stores suffered from a dearth of discounting events in further evidence of a cautious consumer. The weakness came despite lower borrowing costs and a cooling in inflation, supporting investor …

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Ford head says GOP tax bill provision could ‘imperil’ battery factory

30 May 2025

By Nora Eckert and David Shepardson DETROIT/WASHINGTON (Reuters) -Ford Executive Chair Bill Ford on Thursday sounded the alarm over the potential for the U.S. government to eliminate production tax credits that support the manufacturing of electric vehicle batteries using Chinese technology. The disappearance of the credits would threaten Ford’s projected $3 billion investment in a …

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Fed’s Logan says it ‘could take quite some time’ to see a shift in balance of risks

30 May 2025

(Reuters) -Federal Reserve Bank of Dallas President Lorie Logan on Thursday signaled that the central bank may need to keep short-term interest rates where they are for quite some time as it waits for the data to show if President Donald Trump’s mix of trade, tax and regulatory policies pushes up inflation or down on employment …

Fed’s Logan says it ‘could take quite some time’ to see a shift in balance of risks Read More »

Chevron to cut 200 jobs in Texas

30 May 2025

(This May 28 story has been corrected to reflect the official correction from the commission to rectify the number of layoffs to 200, from 800, in the headline and paragraph 1) By Sheila Dang HOUSTON (Reuters) -Chevron will lay off 200 employees in Texas, according to figures from the Texas Workforce Commission. The layoffs are …

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