Reuters US Business

By Timothy Gardner, Valerie Volcovici and Leah Douglas WASHINGTON (Reuters) -U.S. President Donald Trump’s administration on Friday proposed cutting billions of dollars in federal funding next year for projects including renewable energy and electric vehicle chargers, and gutting programs aimed at curbing climate change. The proposal to Congress was part of a wider request to …

Trump budget proposes slashes to renewable energy, farms, EPA Read More »

WASHINGTON (Reuters) -President Donald Trump on Friday asked Congress to approve $3.2 billion in contributions to the World Bank’s International Development Association (IDA), which provides low- or zero-interest loans to the world’s poorest countries. International finance experts hailed the sum, to be paid over three years, as a welcome surprise, given recent worries that Trump …

Trump’s budget includes $3.2 billion for World Bank’s fund for poorest countries Read More »

By Douglas Gillison and Chris Prentice (Reuters) -Presidential adviser Elon Musk’s Department of Government Efficiency (DOGE) is expanding its presence at the U.S. Securities and Exchange Commission by adding a third staff member, according to people familiar with the matter. Since March DOGE has been scrutinizing agency contracting and organizational charts for more possible cuts …

DOGE expands presence at Wall St regulator, sources say Read More »

By Mike Scarcella and Tom Hals (Reuters) -Microsoft is switching the law firm representing it in a shareholder case, replacing one that settled with the Trump administration to avoid a punishing executive order with one that is fighting the White House. Court documents showed Microsoft has hired Jenner & Block to replace Simpson Thacher in …

Microsoft swaps law firms in shareholder case, hiring Trump target Read More »

By Lucia Mutikani WASHINGTON (Reuters) -U.S. job growth slowed marginally in April and employers continued to hoard workers, but the outlook for the labor market is increasingly darkening as President Donald Trump’s protectionist trade policy heightens economic uncertainty. The Labor Department’s closely watched employment report published on Friday, which also showed the unemployment rate held …

US labor market resilient ahead of tariff turbulence Read More »

By Amanda Stephenson and Pooja Menon (Reuters) -Canadian oil company Imperial Oil posted its highest-ever first-quarter earnings on Friday, driven primarily by stronger margins in its refining and fuel sales business. Imperial’s strong results come amid a broader rebound in North American refining margins, as demand for products is resilient and supply remains tight due …

Canada’s Imperial Oil posts record first quarter profit on stronger refining margins Read More »

By David Shepardson and Jody Godoy ALEXANDRIA, Virginia (Reuters) -Alphabet’s Google will face a trial in September on antitrust enforcers’ proposals to make it sell off part of its advertising technology business to address the company’s dominance over tools used by online publishers to sell ads. U.S. District Judge Leonie Brinkema in Alexandria, Virginia, set …

Google faces September trial on ad tech antitrust remedies Read More »

(Reuters) -Electric vehicle maker Polestar is recalling 27,816 cars in the United States due to a rearview camera issue, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday. The recall, on Polestar 2 models that were sold in the United States before 2025, comes days after the Swedish company paused its 2025 forecast, …

EV maker Polestar recalls 28,000 cars in the US over rearview camera issue Read More »

By Niket Nishant (Reuters) -Block’s shares fell 22% on Friday and were on track for the biggest intraday decline in five years after a 2025 profit forecast cut raised concerns about the payment firm’s key businesses. The selloff wiped off nearly $8 billion from the Jack Dorsey-led company’s market value. At least eight brokerages reduced …

Block’s shares tumble after 2025 profit forecast cut defies sector trends Read More »

By Ernest Scheyder (Reuters) -Albemarle’s stalled plans to build the largest U.S. lithium refinery remain on hold due to the ongoing global glut of the battery metal that has dragged down market prices, the company’s CEO told Reuters on Thursday. That market malaise leaves the U.S. without a major site to process lithium – the …

Albemarle CEO says ‘math doesn’t work’ for US lithium refinery project Read More »