WASHINGTON (Reuters) – Elon Musk, who U.S. President-elect Donald Trump has tapped to oversee a government cost-cutting effort, acknowledged that his declared goal of cutting $2 trillion in spending from the $6.8 trillion federal budget would be a long shot. “I think if we try for 2 trillion, we’ve got a good shot at getting…
PALM BEACH, Florida (Reuters) -President-elect Donald Trump said on Tuesday that he wants the U.S. Congress to extend the nation’s debt ceiling, adding that he did not want to see the federal government default on its debt, which currently tops $36 trillion. “I just don’t want to see a default. That’s all I want,” Trump…
(Reuters) – The U.S. Department of Health and Human Services said on Friday it would award $306 million in funds to help bird flu monitoring, as the virus spreads in dairy herds and farm workers across the country. The country in December reported its first severe human case of bird flu in a Louisiana resident,…
By Jaspreet Singh (Reuters) -Rivian surpassed analysts’ expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit. Shares of the California-based company rose nearly 19%. The stock lost more than 40% of its…
By David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Department has imposed a $2 million penalty on JetBlue Airways for operating four chronically delayed flights on domestic routes – the first time it has imposed such a fine on an airline for the prohibited scheduling practice. USDOT said on Friday that as part of a…
By Laila Kearney NEW YORK (Reuters) -Oil prices rose about 2% on Thursday as investors returned for the first trading day of the new year with an optimistic eye on China’s economy and fuel demand after a pledge by President Xi Jinping to promote growth. Brent crude futures rose $1.44, or 1.9%, to $76.08 a…
(This Dec. 23 story has been corrected to fix the spelling of ‘Jonah Crane’ in paragraphs 15 and 18) By Hannah Lang (Reuters) – The cryptocurrency industry is pushing President-elect Donald Trump’s team to kick start his promised crypto policy overhaul when he takes office next month with executive orders that would help push tokens…
BEIJING (Reuters) – China’s 2024 gross domestic product (GDP) is expected to exceed 130 trillion yuan ($17.8 trillion), President Xi Jinping said on Tuesday in his New Year’s address, adding that the country would implement more proactive policies to promote growth in 2025. The world’s second-largest economy has struggled to stage a robust revival this…
By Nathan Layne WEST PALM BEACH, Florida (Reuters) – Washington Mayor Muriel Bowser said she had a great meeting with President-elect Donald Trump at his Florida resort and voiced optimism that they would find common ground despite their past clashes. Bowser met Trump at his Mar-a-Lago home for about 45 minutes on Monday, a spokesperson…
(Reuters) – Contracts to buy U.S. previously owned homes rose more than expected in November, notching a fourth straight month of gains as buyers focused on taking advantage of improved inventory despite stubbornly high mortgage rates. The National Association of Realtors (NAR) said on Monday its Pending Home Sales Index, based on signed contracts, rose…
