By Max A. Cherney SAN FRANCISCO (Reuters) -Advanced Micro Devices, Cisco Systems and Saudi Arabian artificial intelligence startup Humain are forming a joint venture to build data centers in the Middle East and have landed their first customer, CEOs at the three companies told Reuters in an interview on Tuesday. The yet-to-be-named joint venture will …
By Timothy Gardner WASHINGTON (Reuters) -The Trump administration said on Tuesday it has loaned Constellation Energy Corp $1 billion to restart its nuclear reactor at a Pennsylvania plant formerly known as Three Mile Island. Constellation signed a deal in late 2024 with Microsoft to restart the 835-megawatt reactor, which shut in 2019, and which would …
US loans Constellation $1 billion for Three Mile Island reactor reboot Read More »
SAO PAULO (Reuters) -Brazilian state-run bank BRB said on Wednesday that its board decided to hire a specialized external audit firm to investigate the facts related to a police operation which targeted mid-sized lender Banco Master. The announcement came as the government of Brazil’s Federal District, which controls BRB, said it would tap a new …
Brazilian lender BRB to hire audit firm to investigate facts linked to Banco Master Read More »
SANTIAGO (Reuters) -Executives from Chilean lithium producer SQM on Wednesday said they expect lithium demand this year to reach over 1.5 million metric tons, representing 25% growth from 2024. In addition, CEO Ricardo Ramos said the company expects a planned lithium joint venture with Chile’s state-run Codelco to receive its final approvals by year-end. “We …
Chile’s SQM expects 25% lithium demand growth in 2025 Read More »
(Reuters) -MP Materials said on Wednesday it would build a rare earths refinery in Saudi Arabia with the U.S. Department of Defense and state-owned Saudi Arabian mining company Maaden to expand Middle Eastern processing of the critical minerals. The news comes as Saudi Crown Prince Mohammed bin Salman is visiting Washington this week for the …
MP Materials to build Saudi rare earths refinery with Pentagon, Maaden Read More »
By Pete Schroeder WASHINGTON (Reuters) -Federal Reserve Governor Stephen Miran on Wednesday called for regulators to exempt U.S. Treasury bonds from a key bank leverage ratio, arguing agencies should go further than previously proposed plans. The Fed in June proposed overhauling how much capital large global banks must hold against relatively low-risk assets, as part …
Fed’s Miran calls for exempting Treasuries from bank leverage rule Read More »
(Reuters) -TJX Cos raised annual profit forecast on Wednesday, anticipating that broad sourcing strategy and seasonal inventory will attract bargain-hunting shoppers to its off-price stores. Shares of the company rose about 3% in premarket trading. They have risen nearly 21% so far this year. The Framingham, Massachusetts-based company has capitalized on a seasonal shift from …
TJ Maxx parent TJX raises annual profit forecast Read More »
By Gertrude Chavez-Dreyfuss and Davide Barbuscia NEW YORK (Reuters) -The cost of U.S. overnight funding in the repo market has stayed stubbornly high and is expected to remain elevated going into year-end despite recent Federal Reserve easing, adding another layer of stress to already fragile financial markets. A spike in repurchase or repo rates signals …
Analysis-What Fed cut? US repo rates still high as liquidity tightens into year-end Read More »
(Reuters) -Brookfield Asset Management is targeting $10 billion in equity for its new AI infrastructure fund, launching a new strategy aimed at investing in infrastructure tied to artificial intelligence, the Wall Street Journal reported on Wednesday. The Canadian investment firm has already raised $5 billion from investors including Nvidia, Kuwait Investment Authority (KIA) and Brookfield’s …
Brookfield seeks $10 billion for new AI infrastructure fund, WSJ reports Read More »
(Reuters) -Elon Musk’s artificial-intelligence startup xAI is in advanced talks to raise $15 billion in fresh equity at a valuation of $230 billion, the Wall Street Journal reported on Tuesday. The fundraising terms were outlined to investors by Musk’s wealth manager, Jared Birchall, on Tuesday night, the report said. It was not clear whether the …
Musk’s xAI in advanced talks to raise $15 billion at $230 billion valuation, WSJ reports Read More »
