Reuters US Business

By Howard Schneider AMELIA ISLAND, Florida (Reuters) -Federal Reserve officials said on Tuesday that higher prices are coming on the back of rising U.S. import tariffs and counseled patience before making any interest rate decisions before it is clear whether the inflation shock will be fleeting or more persistent. “One thing that we’ve heard is …

Fed officials expect tariffs to boost prices; White House downplays risk Read More »

By Nate Raymond BOSTON (Reuters) -A Massachusetts college student has agreed to plead guilty to hacking cloud-based education software provider PowerSchool and stealing data pertaining to millions of students and teachers that hackers used to extort the company and school districts into paying ransoms. Matthew Lane, 19, entered into a plea deal on Tuesday to …

Massachusetts college student to plead guilty to PowerSchool data breach Read More »

SAO PAULO (Reuters) -Brazilian airline Gol said on Tuesday its restructuring plan under Chapter 11 proceedings was approved by a U.S. court, paving the way for it to exit bankruptcy protection on June 6. The carrier, one of Brazil’s largest, filed for bankruptcy protection in the United States in early 2024 as it struggled with …

US court approves Brazilian airline Gol’s restructuring plan Read More »

(Reuters) -Tesla is set to begin a test of its long-promised robotaxi service on schedule in Austin, Texas, by the end of June, Chief Executive Elon Musk said on Tuesday, even as the company faces safety questions from a U.S. regulator. The electric vehicle maker will roll out about 10 self-driving cars in some parts …

Tesla on track to launch robotaxi trial in Austin, Texas, by June end, Musk says Read More »

By Chibuike Oguh NEW YORK (Reuters) -U.S. stocks fell on Tuesday, with the benchmark S&P 500 ending six straight sessions of gains, under pressure from rising Treasury yields, with the U.S. sovereign debt profile in focus. President Donald Trump traveled to Capitol Hill, seeking to persuade Republican lawmakers to pass a sweeping tax-cut bill, which …

Wall Street stocks slip, rising US Treasury yields in focus Read More »

By Nellie Peyton JOHANNESBURG (Reuters) -South Africa’s President Cyril Ramaphosa plans to discuss business opportunities for Elon Musk’s companies during a visit to Washington this week aimed at mending relations with U.S. President Donald Trump, Ramaphosa’s spokesperson said on Monday. Trump has taken aim at South Africa during his second term, citing disapproval of its …

South Africa’s Ramaphosa aims to mend US ties with Musk business push Read More »

(Reuters) -Semiconductor supplier Wolfspeed is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Shares of the company fell over 57% in extended trading. Wolfspeed has been grappling with sluggish demand in industrial and automotive markets …

Wolfspeed prepares to file for bankruptcy within weeks, WSJ reports Read More »

SAO PAULO (Reuters) -Brazil’s antitrust body Cade is set to approve this week, without restrictions, the merger of two retailers of products for pets, Cobasi and Petz, local news outlet Brazil Journal reported on Monday, citing sources. An approval could mark Cade’s final green light for the merger, but only if no appeal is filed …

Brazil’s antitrust body to approve Petz, Cobasi merger, local media reports Read More »

By David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Department is expected to declare that fuel economy rules issued under then President Joe Biden exceeded the government’s legal authority by including electric vehicles in setting the rules, automaker officials said Monday. Transportation Secretary Sean Duffy said the department’s National Highway Traffic Safety Administration on Friday …

US expected to declare Biden fuel economy rules exceeded legal authority Read More »

By David French NEW YORK (Reuters) -Acrisure has raised $2.1 billion from Bain Capital and other investors, its CEO told Reuters on Tuesday, valuing the firm at $32 billion and allowing it to fund an expansion into products beyond its core insurance brokerage business. Grand Rapids, Michigan-based Acrisure was founded in 2005 as an insurance …

Financial services firm Acrisure valued at $32 billion in Bain-led funding round Read More »