By Bo Erickson WASHINGTON (Reuters) -President Donald Trump on Saturday said in a social media post the U.S. Federal Reserve should cut rates “sooner, rather than later.” Trump also criticized the head of the central bank, Jerome Powell. “THE CONSENSUS OF ALMOST EVERYBODY IS THAT, ‘THE FED SHOULD CUT RATES SOONER, RATHER THAN LATER,’” Trump …
Trump pushes US Federal Reserve for rate cuts, criticizes Powell Read More »
By Davide Barbuscia and Pushkala Aripaka (Reuters) -Moody’s downgraded the U.S. sovereign credit rating on Friday due to concerns about the nation’s growing, $36 trillion debt pile, in a move that could complicate President Donald Trump’s efforts to cut taxes and send ripples through global markets. Moody’s first gave the United States its pristine “Aaa” …
Moody’s cuts America’s pristine credit rating, citing rising debt Read More »
By Lisa Baertlein, Farah Master and Casey Hall LOS ANGELES/HONG KONG (Reuters) – Container ship bookings for China-to-U.S. cargo have surged since the countries declared a 90-day truce on punitive tit-for-tat tariffs last weekend, operators said, spawning traffic jams at Chinese ports and factories that could take weeks to clear. U.S. importers of sneakers and …
Container ship owners swamped as US-China trade detente revives demand Read More »
HANOI (Reuters) -Vietnam and the United States held their first direct ministerial-level negotiations on Friday against the backdrop of an impending U.S. tariff of 46% on imports from the Southeast Asian nation, which could significantly impact its growth. The Vietnamese trade ministry said in a statement released on Saturday that the meeting, which occurred in …
Vietnam steps up talks with US to reduce hefty tariff Read More »
(Reuters) -Tesla blocked shareholders who own less than 3% of its shares from suing its directors or officers on behalf of the electric vehicle maker for breach of duties, according to a filing with the U.S. Securities and Exchange Commission on Friday. Three percent of Tesla’s shares amounts to about 97 million shares worth about …
Tesla blocks stockholders with less than 3% shares from suing officers on its behalf Read More »
By Jonathan Stempel (Reuters) -Capital One has agreed to pay $425 million to settle nationwide litigation accusing it of cheating savings account depositors out of much higher interest rates by not telling them they could move their money to higher-yielding accounts. A notice describing the preliminary settlement was filed on Friday evening in U.S. federal …
Capital One to pay $425 million to settle litigation over savings accounts Read More »
(Reuters) -Elon Musk’s xAI responded to widespread reports that its Grok chatbot made claims about a genocide against white citizens in South Africa, saying there had been an unauthorized change to the artificial intelligence bot. In a post on X on Thursday, xAI said it would update the system to address the problem. Issues of …
Musk’s xAI updates Grok chatbot after ‘white genocide’ comments Read More »
By Sinéad Carew and Pranav Kashyap (Reuters) -Wall Street’s main indexes rose on Friday for their fifth straight day, buoyed by the U.S.-China tariff truce earlier in the week even as economic survey data showed a deterioration in consumer sentiment. The S&P 500 steadily added to gains from late morning, while investors took weak data …
Wall Street advances on trade hopes, data shows investor pessimism Read More »
By Karen Freifeld and Rich McKay NEW YORK (Reuters) -New Jersey commuter rail engineers walked off the job on Friday after marathon contract talks deadlocked, idling a train system that serves some 350,000 passengers a day, including tens of thousands bound for New York City. The New Jersey Transit strike, the first in more than …
Strike at New Jersey rail system idles New York-bound commuters Read More »
By David Shepardson WASHINGTON (Reuters) -The Federal Communications Commission said Friday it was approving Verizon Communications’s $20 billion deal to acquire fiber-optic internet providers Frontier Communications after the largest U.S. telecom company agreed to end its diversity, equity and inclusion programs. Verizon agreed to buy Frontier in September for about $9.6 billion and absorb $10 …
FCC approves Verizon deal to acquire Frontier after DEI changes Read More »
