Reuters US Business

By Ann Saphir (Reuters) -The U.S. government posted a $258 billion budget surplus for April, up 23%, or about $49 billion, from a year earlier, reflecting strong tax receipts in the final month of the tax season and record collections of import duties, the Treasury Department said on Monday. Treasury reported that customs duties in …

US budget surplus surges to $258 billion in April, year-to-date deficit tops $1 trillion Read More »

By Kalea Hall DETROIT (Reuters) -U.S. new-vehicle prices surged in April, data released on Monday showed, a sign that the effects of President Donald Trump’s auto-tariff measures are rippling through the car market. The average price consumers paid, after discounts and promotions, rose 2.5% from March, more than double the typical 1.1% increase over those …

US car prices higher in April after tariffs hit Read More »

NEW YORK (Reuters) – The United States and China reached a better-than-expected dealto temporarily slash tariffs, sending stocks and the U.S. dollar sharply higher, as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession. The U.S. will cut extra tariffs it imposed on Chinese imports in …

Instant View: Investor reaction to US-China trade and tariffs agreement Read More »

(Reuters) – The infrastructure investing arm of asset manager Blackstone is in talks to buy New Mexico and Texas-focused utility TXNM Energy, a person familiar with the matter said on Monday. Conversations between Blackstone Infrastructure Partners and TXNM about structuring an agreement are ongoing, said the source, who cautioned the situation was fluid and there …

Blackstone in talks to buy utility TXNM, source says Read More »

By David Shepardson WASHINGTON (Reuters) – U.S. auto safety investigators asked Tesla to answer questions on its plans to launch a paid robotaxi service in Austin, Texas, in June, in order to assess how the electric vehicle maker’s cars with full self-driving technology will perform in poor weather. The National Highway Traffic Safety Administration, in …

US agency asks Tesla to answer questions on Texas robotaxi plan Read More »

By Hannah Lang (Reuters) -Paul Atkins, the chair of the Securities and Exchange Commission, laid out his vision for overhauling the agency’s cryptocurrency policies on Monday, saying he plans to establish guidelines for distributions of crypto tokens that are securities and consider whether additional exemptions are necessary. In remarks made at the outset of a …

US SEC chair says agency plans to create new rules for crypto tokens Read More »

By Jaspreet Singh (Reuters) -Fox Corp said its new subscription-based streaming service will be called “Fox One” and is set to launch before the fall American football season as the company seeks to reach audiences beyond its mainstay cable television business. Unveiling details on Monday about the service first announced in February, Fox said pricing …

Fox names new streaming service ‘Fox One’, plans launch before football season Read More »

By Ateev Bhandari (Reuters) -American Bitcoin, a new bitcoin miner backed by U.S. President Donald Trump’s two eldest sons, said on Monday it will list on the Nasdaq via an all-stock merger with Gryphon Digital Mining. Existing shareholders of American Bitcoin, including co-founder Eric Trump, his brother Donald Trump Jr. and crypto miner Hut 8, …

Eric Trump-backed American Bitcoin to go public through all-stock merger Read More »

By Arasu Kannagi Basil and Pritam Biswas (Reuters) -Hub International has raised nearly $1.6 billion in a funding round that valued the Hellman & Friedman-backed insurance broker at $29 billion and was led by T Rowe Price, Alpha Wave Global and Singapore’s state investor Temasek. The investment, however, could push back any plans for a …

Insurance broker Hub valued at $29 billion in fresh investment round Read More »

(Reuters) -Chegg said on Monday it would lay off about 22% of its workforce, or 248 employees, to cut costs and streamline its operations as students increasingly turn to AI-powered tools such as ChatGPT over traditional edtech platforms. The company, an online education firm that offers textbook rentals, homework help and tutoring, has been grappling …

Chegg to lay off 22% of workforce as AI tools shake up edtech industry Read More »