By Sayantani Ghosh, David Gaffen, Arpan Varghese SAN FRANCISCO/NEW YORK/BENGALURU (Reuters) -President Donald Trump’s trade war has cost companies more than $34 billion in lost sales and higher costs, according to a Reuters analysis of corporate disclosures, a toll that is expected to rise as ongoing uncertainty over tariffs paralyzes decision making at some of…
By Saeed Azhar NEW YORK (Reuters) -Former Goldman Sachs banker Tim Leissner was sentenced to two years in prison by a judge in a New York court on Thursday after he pleaded guilty in 2018 for his involvement in a multi-billon dollar scandal involving Malaysia’s sovereign fund 1MDB. Leissner’s conduct was “brazen and audacious,” judge…
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By Conor Humphries DUBLIN (Reuters) -OpenAI’s restructuring plans position it for a potential future IPO, but any such decision would depend on the mood in public markets as well as the readiness of the company, Chief Financial Officer Sarah Friar said on Wednesday. OpenAI, in which Microsoft has invested more than $13 billion, outlined plans…
TOKYO (Reuters) -Japan’s struggling Nissan is considering raising more than 1 trillion yen ($7 billion) from debt and asset sales which would include a syndicated loan guaranteed by the British government, Bloomberg News said on Wednesday. The country’s third-biggest automaker plans to issue as much as 630 billion yen worth of convertible securities and bonds,…
By Amy Lv and Hongmei Li SINGAPORE (Reuters) -China says it wants to cut crude steel output this year but traders and steelmakers are betting Beijing won’t follow through as industry profitability improves and trade tensions weigh on the economy. The world’s largest steel producer in March unveiled plans to cut output and restructure its…
By Marisa Taylor and Alexandra Ulmer (Reuters) -Democratic Senator Elizabeth Warren urged the U.S. Department of Defense to ensure competitive AI contracting, according to a letter seen by Reuters on Wednesday, as tech billionaire Elon Musk’s artificial intelligence chatbot Grok gains ground in the federal government. Warren’s letter comes on the heels of Reuters reporting…
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By Max Hunder KYIV (Reuters) -Russian forces launched a barrage of 367 drones and missiles at Ukrainian cities overnight, including the capital Kyiv, in the largest aerial attack of the war so far, killing at least 12 people and injuring dozens more, officials said. The dead included three children in the northern region of Zhytomyr,…
By Sabine Siebold BERLIN (Reuters) -Germany’s Chief of Defence, Carsten Breuer, has ordered the German military to be fully equipped with weapons and other material by 2029, a document seen by Reuters on Sunday shows. By 2029, Russia may have reconstituted its forces sufficiently to attack NATO territory, according to estimates by Breuer and other…
