WASHINGTON (Reuters) – U.S. clean energy tax subsidies under President Joe Biden’s signature Inflation Reduction Act will boost U.S. budget deficits by $825 billion over the next 10 years, Congressional Budget Office director Philip Swagel said on Friday, far above the initial $270 billion 10-year estimate. Swagel told reporters that higher cost estimates are due…
By Ernest Scheyder (Reuters) – The U.S. Department of Energy has finalized a $996 million loan for ioneer’s Rhyolite Ridge lithium project, according to documents reviewed by Reuters, an increase of $296 million from a preliminary funding offer and a move aimed at boosting President Joe Biden’s green energy legacy. Shares of ioneer jumped 15%…
By Patrick Wingrove (Reuters) – Novo Holdings, the controlling shareholder of Novo Nordisk, hopes to double the size of its recently acquired contract drugmaker Catalent over five years, a senior partner at the investment firm said, as it prepares for a likely focus on U.S. manufacturing by President-elect Donald Trump. Novo Holdings last month closed…
By Dawn Chmielewski (Reuters) – Businessman Frank McCourt is “open-minded” to keeping TikTok’s existing investors, including the founder, involved after any deal to buy the U.S. operations of the Chinese-owned short-form video app, the U.S. billionaire told Reuters on Thursday. McCourt said in an interview his consortium has made a formal offer to buy TikTok…
(Reuters) -Citigroup is cutting more jobs this week to meet CEO Jane Fraser’s expense goals, Bloomberg News reported on Thursday, citing people familiar with the matter. Managing directors in the wealth and technology units are leaving the firm and Citi is also axing people from a team that compiles data and analysis on the bank’s…
(Reuters) – Microsoft said on Thursday that it is now including Copilot AI features to its Microsoft 365 suite for individual consumers, a day after it rolled out on-demand AI agents for businesses. The Windows-maker will give its customers an option to either choose a Microsoft 365 subscription plan with Copilot AI features or one…
By Humeyra Pamuk, Simon Lewis and Gram Slattery WASHINGTON (Reuters) – Aides to President-elect Donald Trump have asked three senior career diplomats who oversee the U.S. State Department’s workforce and internal coordination to step down from their roles, two U.S. officials familiar with the matter said, in a possible signal of deeper changes ahead for…
By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) – Meta may have to “roll back or pause” some features in India due to an antitrust directive which banned its WhatsApp messaging service from sharing user data with Meta for advertising purposes, according to a court filing by the U.S. company seen by Reuters. Meta…
By Anshuman Tripathy (Reuters) -Beacon Roofing Supply on Wednesday rejected a $11 billion takeover offer from QXO, a new player in the building products distribution industry, saying its proposal “significantly undervalues” the roofing material supplier. Earlier on Wednesday, QXO CEO and billionaire Brad Jacobs made public its $124.25 per share offer for Virginia-based Beacon and…
By David Shepardson WASHINGTON (Reuters) – President-elect Donald Trump’s nominee to head the Transportation Department said he would allow an ongoing government probe into Tesla’s advanced driver assistance system to continue. The National Highway Traffic Safety Administration in October opened an investigation into 2.4 million Tesla vehicles equipped with Full Self-Driving (FSD) software after four…
