By David Shepardson (Reuters) -Boeing said on Wednesday the planemaker will temporarily furlough tens of thousands of employees after about 30,000 machinists went on strike on Friday, halting production of its 737 MAX and other airplanes. “We are initiating temporary furloughs over the coming days that will impact a large number of US-based executives, managers…
By Sheila Dang (Reuters) – Billionaire Elon Musk has endorsed Republican former President Donald Trump in the race for the White House, but employees at his collection of companies are largely donating to Trump’s Democratic rival Kamala Harris. Workers at Tesla have contributed $42,824 to Harris’ presidential campaign versus $24,840 to Trump’s campaign, according to…
(Reuters) – The interest rate for the most popular U.S. home loan fell last week to its lowest level in two years, on anticipation the Federal Reserve will start cutting interest rates on Wednesday, potentially by as much as a half of a percentage point. The average contract rate on a 30-year fixed-rate mortgage dropped…
By Ben Klayman DETROIT (Reuters) -U.S. Steel CEO David Burritt said on Tuesday he was confident Nippon Steel’s $14.9 billion bid for his company would “close on its merits,” despite political opposition and concerns raised in a national security review. Burritt, speaking at the Detroit Economic Club, described the review process as “very robust” but…
By Sabrina Valle HOUSTON (Reuters) -Chevron CEO Michael Wirth on Tuesday criticized U.S. President Joe Biden’s administration for what he described as “attacks on the natural gas” industry and emphasized the crucial role of Permian natural gas in powering the rapid growth of artificial intelligence (AI). The CEO’s remarks followed new government plans over policies…
By David Lewis, Nupur Anand and Duncan Miriri NAIROBI/NEW YORK (Reuters) – JPMorgan Chase CEO Jamie Dimon plans to travel to Africa in mid-October in a push by the biggest U.S. lender to expand on the continent, four sources familiar with the matter told Reuters, his first trip there in seven years. Dimon is expected…
By Noel Randewich (Reuters) – Shares of Donald Trump’s media company fell for a second session on Tuesday ahead of the end of restrictions on share sales by the former U.S. president and other insiders. Trump Media & Technology Group, which is 57% owned by the Republican presidential candidate, fell 3.6%, bringing its loss this…
By Milana Vinn and Mike Spector NEW YORK (Reuters) – Buyout firms Vista Equity Partners and Blackstone are in advanced talks to acquire Smartsheet, in a deal that could value the collaboration-software maker at close to $8 billion, people familiar with the matter said on Monday. The private-equity firms are discussing an offer of around…
(Reuters) – Chipotle moved an automated bowl-and-salad maker and an avocado-processing robot out of its test kitchen and into a couple of locations in California. The chain announced the deployment on Monday and said feedback will determine whether it makes a broader rollout of the technology. Both locations are in California, where all fast food…
(Reuters) – Shares of Apple fell nearly 3% on Monday after several analysts said that delivery times for the new iPhone 16 Pro models indicated weaker-than-expected demand, possibly due to the delayed rollout of key artificial intelligence features. Apple last week unveiled its long-awaited iPhone 16 series designed around its AI software, Apple Intelligence. Early…
