By Ann Saphir (Reuters) -Federal Reserve Bank of Minneapolis President Neel Kashkari on Tuesday said that while he doesn’t believe artificial intelligence will quickly replace U.S. workers, massive investment in AI data centers will tend to drive borrowing costs higher, even if the Fed reduces its short-term policy rate. President Donald Trump has pushed for…
By Jarrett Renshaw, Ernest Scheyder and Gram Slattery (Reuters) -Trump administration officials have discussed taking a stake in Critical Metals Corp, four people familiar with the discussions told Reuters, which would give Washington a direct interest in the largest rare earths project in Greenland, the Arctic territory that President Donald Trump once suggested buying. If…
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By Arathy Somasekhar HOUSTON (Reuters) -U.S. oil production growth will stall if prices stay near $60 per barrel, as fewer drilling sites are profitable at that level, the CEO of Diamondback Energy, one of the country’s top oil producers, said on Wednesday. “There’s only so much Tier 1 rock,” Kaes Van’t Hof said while speaking…
(Reuters) -Intel is in early talks to add AMD as a foundry customer, Semafor reported on Wednesday, citing people familiar with the matter. AMD did not immediately respond to a request for comment, and Intel declined to comment. Semafor did not report details of any possible deal. Reuters reported in April that AMD was evaluating…
(Reuters) -Honeywell said on Wednesday that it has divested all of its Bendix asbestos liabilities, as well as certain non-Bendix asbestos liabilities, to corporate liability acquisition platform Delticus. The company is streamlining operations, with a plan to split into three independently listed companies expected to be completed by next year. Honeywell inherited asbestos liabilities and…
By Milana Vinn and Elvira Pollina New York (Reuters) -Yahoo is in advanced talks to sell AOL to Italian technology company Bending Spoons for about $1.4 billion, four sources familiar with the matter said, as the Apollo Global Management-backed firm sheds one of the most recognizable names of the early internet era. The Milan-based app…
