(Reuters) – Elon Musk’s government efficiency panel said in a Wall Street Journal opinion story on Wednesday that they will apply recent Supreme Court rulings that can be used to take power away from federal agencies to reduce rules the panel finds unnecessary, costly and inefficient. Musk, the billionaire CEO of Tesla and SpaceX, and…
By Timothy Gardner WASHINGTON (Reuters) – The U.S. Department of Energy said on Wednesday it has awarded up to $2.2 billion to centers on the Gulf Coast and in the Midwest to develop hydrogen, an emerging source of energy that is expensive to produce using renewable power. WHY IT’S IMPORTANT Hydrogen backers, including the administration…
WASHINGTON (Reuters) – China’s defense minister declined a meeting with U.S. Defense Secretary Lloyd Austin during a meeting of defense leaders in Laos, a move the Pentagon chief said on Wednesday was unfortunate. Multilateral gatherings of national security officials in Asia have been used in the past for meetings between U.S. and Chinese defense leaders,…
BRUSSELS (Reuters) – EU antitrust regulators will make a decision on U.S. chipmaker Nvidia’s proposed acquisition of Israeli AI startup Run:ai by Dec. 20, according to a European Commission filing. The EU antitrust watchdog warned last month that the deal threatens competition in the markets where the companies operate and ordered Nvidia to seek its…
By Anirban Sen (Reuters) -Blackstone has agreed to buy Jersey Mike’s Subs, the sandwich chain said on Tuesday, in a deal that a source said valued the company at around $8 billion, including debt. Reuters had reported on Monday, citing a person familiar with the matter, that Blackstone was nearing a deal for Jersey Mike’s….
By Joey Roulette (Reuters) – Elon Musk’s SpaceX is set on Tuesday to launch the sixth test of its giant Starship rocket from Texas, eyeing improvements in its hypersonic reentry into Earth’s atmosphere and a novel technique for landing its booster, as U.S. President-elect Donald Trump watches in person. Trump is expected to be joined…
By Nora Eckert DETROIT (Reuters) – Stellantis is preparing to navigate the turbulent electric-vehicle transition with a new vehicle system that will support assembly of gasoline, hybrid and electric models, providing flexibility that will be especially important with Donald Trump returning to the White House. The Franco-Italian automaker revealed details on Tuesday about its STLA…
By Arsheeya Bajwa (Reuters) – Nvidia has bested lofty Wall Street revenue expectations for the past eight quarters. But as analysts expect a slower pace of growth, how the company overcomes delays and supply chain issues to sell its latest AI chips is likely to be a barometer for its stock price. The chipmaker, which…
By Akash Sriram (Reuters) -Tesla shares rose more than 5% on Monday after Bloomberg News reported that President-elect Donald Trump’s transition team was planning to set up federal regulations for autonomous vehicles. The report comes days after Trump named the automaker’s CEO, Elon Musk, as a co-head of the incoming administration’s government efficiency department. Trump’s…
By Juveria Tabassum (Reuters) – Walmart shares are set for their best yearly gains in over two decades as the retail behemoth’s low prices for everyday essentials give it an edge over competitors facing weak demand from budget-conscious consumers. The stock has gained about 60% so far this year, outstripping gains of about 13% in…
