By Anjana Anil and Anushree Mukherjee (Reuters) – Gold prices soared to record levels above $3,100 per ounce in a rally marking one of the most significant upswings in the precious metal’s history, with psychological levels swept aside by a cocktail of factors – including worry about fallout from impending U.S. tariffs. Spot gold hit…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – U.S. President Donald Trump’s push for sweeping tariffs is creating great uncertainty and denting confidence but is not likely to trigger a near-term recession, International Monetary Fund Managing Director Kristalina Georgieva said on Monday. “We are not seeing a dramatic impact” yet from the tariffs implemented…
(Reuters) – OpenAI is planning to release its first open-weight language model with reasoning capabilities since GPT‑2 in the coming months, CEO Sam Altman said on Monday. The company will speak with developers about how to make it useful, Altman said in a post on X. An open-weight language model is a type that allows…
(Reuters) – Lockheed Martin on Monday said the U.S. Army had awarded it a contract worth up to $4.94 billion to produce Precision Strike Missiles (PrSM). Defense companies are seeing a surge in weaponry demand, driven by conflicts across the globe. The Pentagon has been prioritizing purchases of the PrSM, which is to replace the…
By Jonathan Stempel (Reuters) – Google has agreed to pay $100 million in cash to settle a long-running lawsuit claiming it overcharged advertisers by failing to provide promised discounts and charged for clicks on ads outside the geographic areas the advertisers targeted. A preliminary settlement of the 14-year-old class action, which began in March 2011,…
By Milana Vinn, Dan Catchpole and Mike Stone (Reuters) – Several private equity firms and at least one aerospace supplier are among the remaining bidders competing to buy Boeing’s Jeppesen navigation unit for more than $8 billion, according to people familiar with the matter. Boeing is expected to invite bids for Jeppesen from the suitors…
By Jonathan Stempel (Reuters) – A federal judge ordered a Johnson & Johnson unit on Friday to pay the U.S. government $1.64 billion after a jury found it liable in a whistleblower lawsuit for illegally promoting the HIV drugs Prezista and Intelence. U.S. District Judge Zahid Quraishi in Trenton, New Jersey, ordered the drugmaker’s Janssen…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Friday said inflation data published earlier in the day confirms her decreased confidence in her baseline expectation that two interest rate cuts this year are a “reasonable” projection. Government data on Friday showed underlying inflation rose 0.4% in February – the most in more…
WASHINGTON (Reuters) – The Trump administration invited companies to email the Environmental Protection Agency to seek presidential exemptions from nine clean-air regulations, including mercury limits for power plants and limits on hazardous air pollutants in plastic production by March 31, the latest use of rarely used measure aimed at lifting burdens for business. The EPA…
By Tom Polansek CHICAGO (Reuters) – U.S. beef sales to China have taken a dive, U.S. government data showed on Thursday, after Beijing allowed the expiration of registrations that had permitted exports from hundreds of American meat facilities. A tit-for-tat tariff dispute has also raised duties on U.S. meat and other goods shipped to China,…
