Reuters US Business

By Kritika Lamba (Reuters) – Wolfspeed’s shares lost half their value on Friday, hitting their lowest level since 1998, as funding through a Joe Biden-era legislation that promised subsidies for chip making in the United States remains uncertain. Wolfspeed is waiting on about $750 million in federal funding under the U.S. CHIPS Act, the 2022 …

Chipmaker Wolfspeed’s shares hit 27-year low over uncertain federal funding Read More »

By Nick Carey and Kalea Hall LONDON/WHITE LAKE, Michigan (Reuters) – Major automakers can deal with President Donald Trump’s tariffs on U.S. auto imports in a number of ways, but all of them lead to higher prices, fewer choices of models or limits on features for consumers, industry experts said. Trump announced 25% tariffs on …

US car buyers face higher prices, less choice under Trump’s tariffs Read More »

By Fabian Cambero SANTIAGO (Reuters) -Chile’s Codelco, the world’s largest copper producer, has been redirecting some of its spot sales to the United States, CEO Ruben Alvarado said on Friday. U.S. President Donald Trump in February ordered a probe into potential new tariffs on copper imports in an effort to rebuild U.S. production, a move …

Chile’s Codelco sending more copper to US after tariff threat Read More »

By Pete Schroeder WASHINGTON (Reuters) -U.S. bank regulators announced Friday they intended to rescind a 2023 update to fair lending rules for banks and reinstate the prior requirements, citing a legal challenge from the banking industry over the new framework. In a joint statement, the Federal Reserve, Federal Deposit Insurance Corporation and Office of the …

US bank regulators to rescind updated fair lending rules following bank litigation Read More »

By Tim Kelly and Katya Golubkova TOKYO (Reuters) -Alaska’s governor will brief U.S. President Donald Trump’s administration next week on progress in securing Asian backing for a $44 billion natural gas export project, he told Reuters, part of Washington’s broader push on trade and tariffs. Trump wants Japan, South Korea, and Taiwan to join the …

Exclusive-Alaska governor to brief Trump on Asia gas push as tariffs bite Read More »

By Shankar Ramakrishnan and Anirban Sen NEW YORK (Reuters) – The pipeline for U.S. high-grade corporate bond issuance to fund mergers has fallen to the lowest levels in five years as President Donald Trump’s trade war deters deals, in what could be a boon for borrowers but a challenge for banks and investors. Wall Street …

Analysis-Deal slump hits US high-grade bond supply, pressures spreads Read More »

(Reuters) -Phillips 66’s independent director, Bob Pease, defended the company’s performance and criticized Elliott Investment Management on Friday, as a boardroom battle between the U.S. refiner and the activist investor intensified. Elliott, which earlier this year disclosed a stake of more than $2.5 billion in Phillips 66, has been pushing for operational changes and a …

Phillips 66 director criticizes activist investor Elliott amid proxy battle Read More »