Reuters US Business

By Jonathan Stempel, Niket Nishant and Medha Singh (Reuters) -Warren Buffett will stay on as chairman of Berkshire Hathaway after Vice Chairman Greg Abel takes over as chief executive officer, the conglomerate said on Monday. Berkshire made the announcement two days after the 94-year-old Buffett revealed at the company’s annual meeting in Omaha, Nebraska that …

Buffett to remain Berkshire chairman but shares fall after Abel named CEO Read More »

By David Shepardson WASHINGTON (Reuters) -Senate Democratic Leader Chuck Schumer on Monday called for a probe into ongoing flight disruptions at Newark airport that began eight days ago due to outdated equipment and a shortage of air traffic controllers. “The FAA is really a mess,” Schumer said. “We have a 1990 technology being used in …

Top Senate Democrat seeks probe into Newark flight woes Read More »

(Reuters) – Rivian said on Monday it would invest $120 million to build a supplier park near its plant in Illinois, as the electric vehicle-maker gears up to produce its smaller, more affordable R2 SUVs next year. The supplier park near Rivian’s facility at Normal, Illinois will reduce shipping, logistics and warehousing costs, while adding …

Rivian to build $120 million supplier park in Illinois Read More »

By Amanda Stephenson (Reuters) -U.S. fuel supplier Sunoco has struck a $9.1-billion deal to buy Canada-based Parkland, a move that would create the Americas’ largest independent fuel distributor but which Parkland’s largest shareholder immediately criticized. Sunoco’s offer was unanimously approved by Parkland’s board, the companies said on Monday. But Parkland’s largest shareholder, Simpson Oil, called …

US fuel distributor Sunoco to buy Canada’s Parkland for $9 billion Read More »

By Andrea Shalal and Tim Reid WASHINGTON (Reuters) -U.S. President Donald Trump on Sunday announced a 100% tariff on movies produced outside the country, saying the American movie industry was dying a “very fast death” due to the incentives that other countries were offering to lure filmmakers. “This is a concerted effort by other Nations …

Trump orders 100% tariff on foreign-made movies to save ‘dying’ Hollywood Read More »

By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase’s artificial-intelligence tools enabled it to boost sales to wealthy clients and manage scores of requests from worried customers even during April’s market rout, the bank’s CEO of asset and wealth management said. The largest U.S. lender has been ramping up its use of AI, along with its …

JPMorgan says AI helped boost sales, add clients in market turmoil Read More »

(Reuters) – Cummins withdrew its annual forecast on Monday, joining other vehicle manufacturers that are reassessing expectations as the industry grapples with the mounting uncertainty generated by U.S. President Donald Trump’s sweeping import tariffs. The U.S. truck-engine maker had previously projected 2025 revenue growth ranging from a 2% decrease to a 3% increase, with core …

Cummins withdraws 2025 financial forecast on tariff woes Read More »

(Reuters) -Google has launched a new film and TV production initiative to scout projects it could fund or co-produce, Business Insider reported, a move that could help it capitalize on an industry reeling from rising production costs and potential U.S. tariffs. The initiative, called “100 Zeros”, is a multi-year partnership with Range Media Partners, a …

Google has launched new film and TV production wing, Business Insider reports Read More »