Reuters US Business

(Reuters) -U.S. credit card issuer Discover Financial reported a 30% rise in first-quarter profit on Wednesday, helped by a drop in the company’s provision for credit losses and higher interest income. Interest rates on credit card debt are significantly higher than those on mortgages and other loans, shielding consumer finance companies like Discover from pullback …

Discover Financial profit jumps on lower loss provision and higher interest income Read More »

By Supantha Mukherjee STOCKHOLM (Reuters) -European Union antitrust regulators on Wednesday fined Apple 500 million euros ($570 million) and Meta 200 million euros to make the companies comply with the Digital Markets Act, which seeks to allow smaller rivals into markets dominated by the biggest companies. The fines follow a year-long investigation by the European …

Explainer-What happens to Apple and Meta after the EU fine? Read More »

By Stephen Nellis and Max A. Cherney SANTA CLARA, California (Reuters) -Taiwan Semiconductor Manufacturing Co on Wednesday unveiled technology for making faster chips and putting them together in dinner-plate-sized packages that will boost performance needed for artificial intelligence applications. It said its A14 manufacturing technology will arrive in 2028 and will be able to produce …

TSMC shows off new tech for stitching together bigger, faster chips Read More »

By Luciana Magalhaes SAO PAULO (Reuters) -Brazil’s Voepass, a privately held airline, filed for bankruptcy protection late on Tuesday according to court documents, citing the actions of Chile-based LATAM Airlines as a major reason for its financial crisis. Voepass, which claims a total debt of about 209.2 million reais ($36.78 million), has been facing difficulties …

Brazilian airline Voepass files for bankrupcty, blames LATAM for financial woes Read More »

By Kalea Hall and Nora Eckert DETROIT (Reuters) -General Motors is increasing production of transmissions at its Toledo, Ohio facility, shifting away from EV drive unit manufacturing toward parts for gasoline vehicles, the company confirmed Wednesday. The transmission plant supports production of light-duty trucks made in Fort Wayne, Indiana, along with other facilities. Reuters first …

Exclusive-GM to increase production at Ohio transmission facility Read More »

By Arathy Somasekhar HOUSTON (Reuters) -Some tankers Chevron had chartered to move crude from Venezuela to the U.S. this month are now being marketed for spot contracts elsewhere, sources said, after state company PDVSA canceled loading permits and ordered the firm to return cargoes amid payment uncertainty related to sanctions. The marketing of the vessels …

Tankers chartered by Chevron to move Venezuelan crude seek other business Read More »