Reuters US Business

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund will stay “laser focused” on preventing balance of payments crises and incorporate the Trump administration’s concerns into its policies but will keep supporting countries affected by climate change, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva said in a press conference during …

IMF focused on stability but will support countries on climate risks, Georgieva says Read More »

By Ernest Scheyder and Jarrett Renshaw (Reuters) -President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy. The order, which Trump signed in private, seeks to jumpstart the mining …

Trump signs executive order boosting deep-sea mining industry Read More »

By Blake Brittain (Reuters) -Digital media publisher Ziff Davis sued OpenAI in Delaware federal court on Thursday, accusing the Microsoft-backed artificial-intelligence company of misusing its publications to train the model behind popular chatbot ChatGPT. Ziff Davis argues that OpenAI “intentionally and relentlessly” exploited copyrighted content for its AI systems, according to a copy of the …

Publisher Ziff Davis sues OpenAI for copyright infringement Read More »

By Stephen Culp NEW YORK (Reuters) -U.S. stocks closed higher on Thursday, rallying for a third straight day with a solid boost from technology shares as investors parsed a mixed bag of corporate earnings and watched for signs of progress in the U.S.-China tariff stand-off. All three major U.S. stock indexes posted sharp gains, with …

Wall Street ends higher on tech boost, easing tariff tensions Read More »

By Deena Beasley (Reuters) -Gilead Sciences on Thursday reported a first-quarter profit, but revenue was flat, as higher sales of drugs for HIV and liver disease, along with expense tightening, offset lower cancer drug sales. The company’s shares fell about 3% to $102.75 in after-hours trading. Adjusted earnings per share came in at $1.81, just …

Gilead posts profit, says HIV prevention drug on track for mid-June Read More »

(Reuters) -T-Mobile added fewer wireless subscribers than Wall Street expected in the first quarter as rivals dialed up promotions in a saturating U.S. telecom market, leading to a more than 5% drop in the telecom company’s shares after hours. The report, the last among major U.S. telecom carriers this earnings season, underscored growing competition in …

T-Mobile wireless subscriber growth misses estimates as competition heats up Read More »

By Douglas Gillison and Chris Prentice WASHINGTON/NEW YORK (Reuters) -The U.S. Securities and Exchange Commission has lost 16% of its workforce since this time last year, two sources briefed on the matter said, leaving Wall Street’s top regulator with gaps across key divisions at a time of market turmoil. Most of those staff members left …

Wall Street watchdog staff shrinks 16% in last year, includes key units, sources say Read More »

By Manas Mishra, Michael Erman and Patrick Wingrove (Reuters) -Major drugmakers were a standout on a tumultuous day of corporate earnings on Thursday, beating expectations even as they grapple with the threat of sector-specific tariffs, efforts to lower drug prices and federal layoffs that could undermine efforts to invest heavily in the U.S. in coming years. …

Drugmakers brace for Trump tariffs, while weighing numerous other worries Read More »