Reuters US Business

Argentina halts Brazil poultry imports after bird flu outbreak

16 May 2025

BUENOS AIRES (Reuters) -Argentina’s state sanitation agency Senasa on Friday ordered a suspension of imports of products and byproducts of avian origin from Brazil, the world’s largest chicken exporter that hours earlier confirmed its first outbreak of bird flu on a commercial poultry farm. “After the confirmation from Brazilian authorities, Senasa requested the productive sector …

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OpenAI to help UAE develop one of world’s biggest data centers, Bloomberg News reports

16 May 2025

(Reuters) -OpenAI plans to help develop a massive new data center in the United Arab Emirates that may eventually be one of the largest in the world, Bloomberg News reported on Friday. The ChatGPT maker is expected to be one of the primary anchor tenants for a 5-gigawatt data center campus in Abu Dhabi, the …

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UBS in talks with clients over FX derivative losses on Trump volatility, sources say

16 May 2025

By Stefania Spezzati, Oliver Hirt and Ariane Luthi LONDON/ZURICH (Reuters) -UBS is in talks to compensate some clients for losses after they were sold complex foreign-exchange derivatives that wiped out much of their investments when U.S. President Donald Trump’s tariffs sparked wild moves in currencies, sources familiar with the matter said. Several hundred customers of …

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Mike Novogratz’s Galaxy Digital debuts on Nasdaq in bumper week for crypto

16 May 2025

By Hannah Lang (Reuters) -Galaxy Digital, founded by Mike Novogratz, made its Nasdaq debut on Friday, capping off a momentous week for cryptocurrency in public markets, with Coinbase joining the S&P 500 and retail brokerage eToro also going public. Galaxy Digital, a crypto investment company that also specializes in artificial intelligence data center infrastructure, had …

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With US trade war, China now top buyer for Canadian crude on Trans Mountain pipeline

16 May 2025

By Amanda Stephenson and Arathy Somasekhar CALGARY/HOUSTON (Reuters) -China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating. China’s new interest in Canadian oil comes as U.S. …

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Novo Nordisk CEO’s surprise exit after setbacks in weight-loss market

16 May 2025

LONDON (Reuters) – Wegovy-maker Novo Nordisk said on Friday its CEO Lars Fruergaard Jorgensen will step down over concerns the company is losing its first-mover advantage in the highly competitive obesity drug market. Here are reactions to the news from analysts and investors in alphabetical order by company name: BARCLAYS ANALYST EMILY FIELD on an …

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US SEC buyouts hit legal, investment divisions hardest, data shows

16 May 2025

By Douglas Gillison, Chris Prentice (Reuters) -Wall Street’s top regulator saw the biggest drop in staff numbers at divisions handling legal affairs, investment management and trading and markets following buyout programs offered by the Trump administration, data showed on Thursday. The data, obtained by Reuters through a public records request, show those divisions at the …

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US consumer sentiment deteriorates further in May

16 May 2025

WASHINGTON (Reuters) -U.S. consumer sentiment slumped further in May while one-year inflation expectations surged as households remained concerned about the economic impact of President Donald Trump’s aggressive and often erratic trade policy. The University of Michigan Surveys of Consumers on Friday said its Consumer Sentiment Index dropped to 50.8 this month from a final reading …

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Fitch puts Taiwan life insurers on downgrade watch after currency surge

16 May 2025

TOKYO (Reuters) -Credit ratings agency Fitch on Thursday placed five Taiwanese life insurers under review for potential downgrades after a sharp surge in the Taiwanese dollar this month put stress on their balance sheets. Fitch put Cathay Life Insurance, Fubon Life Insurance, KGI Life Insurance, Nan Shan Life Insurance and Taiwan Life Insurance on “Rating …

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