Reuters US Business

By Mike Scarcella WASHINGTON (Reuters) -The U.S. Supreme Court declined on Monday to hear freight rail giant CSX’s bid to revive its antitrust lawsuit accusing rival Norfolk Southern of illegally restricting access to a key East Coast terminal in Virginia, costing CSX hundreds of millions of dollars in lost profits. The justices turned away CSX’s …

US Supreme Court rebuffs CSX bid to revive antitrust suit against Norfolk Southern Read More »

By Sheila Dang HOUSTON (Reuters) – Chevron has started oil and gas production from a project in the U.S. Gulf of Mexico, the oil major said on Monday, bringing the company a step closer toward its goal of growing production from the ocean basin by 50% this year. The $1.6 billion project called Ballymore, located …

Chevron announces first oil at Ballymore project in US Gulf Read More »

By Howard Schneider and Ismail Shakil (Reuters) -The U.S. economy could slow unless interest rates are lowered immediately, President Donald Trump said on Monday, repeating his criticism of Federal Reserve Chair Jerome Powell, who says rates should not be lowered until it is clearer Trump’s tariff plans won’t lead to a persistent surge in inflation. …

Trump warns of economic slowdown unless Fed cuts rates, triggering selloff Read More »

By Valerie Volcovici OAK HILL, West Virginia (Reuters) – Josh Cochran worked deep in the coal mines of West Virginia since he was 22 years old, pulling a six-figure salary that allowed him to buy a home with his wife Stephanie and hunt and fish in his spare time. That ended two years ago when, …

As Trump eyes coal revival, his job cuts hobble black lung protections for miners Read More »

(Reuters) -Walgreens has agreed to pay $300 million to settle U.S. prosecutors’ allegations that it illegally filled millions of invalid prescriptions for opioids and other controlled substances, the U.S. Justice Department said on Monday. The money, plus 4% interest annually, will be paid out over six years under the terms of the agreement. Walgreens will …

Walgreens to pay $300 million in US opioid settlement Read More »

By Bo Erickson WASHINGTON (Reuters) -Republican lawmakers working to extend U.S. President Donald Trump’s tax cuts legislation are facing a clean-energy conundrum back home, as major clean energy investments in their districts are at odds with Trump’s skepticism of the industry. Eleven of the 26 Republicans on the House of Representatives’ tax-writing Ways & Means …

Republican lawmakers face clean-energy conundrum as they work on tax bill Read More »

(Reuters) -Social media platform Reddit was restored after thousands of users worldwide experienced outages on Monday, according to Downdetector.com. On its status page, Reddit said the incident has been resolved following an investigation into elevated errors across its website and the apps. At its peak, over 112,400 users reported that the platform was down, according …

Reddit back up after outage affecting thousands of users worldwide Read More »

By David French (Reuters) -Activist investor Elliott Investment Management should back down from its push to break up energy company Phillips 66 because it is conflicted from a separate effort to acquire one of the group’s rivals, Phillips 66 said in a letter on Monday. The salvo is the latest in a bitter spat between …

Phillips 66 fires back at Elliott over Citgo conflict of interest amid board fight Read More »