By Daniel Wiessner (Reuters) – A U.S. labor board whose enforcement powers are being challenged in a series of lawsuits is set to defend itself from attacks by Elon Musk’s SpaceX and Amazon.com in a conservative U.S. appeals court, as the agency also braces for a potential overhaul under President-elect Donald Trump. Amazon, SpaceX, and…
(Reuters) – Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year, as Fed policymakers projected in September . “I think we are…
WASHINGTON (Reuters) – Elon Musk’s government efficiency panel wants “high IQ” employees and plans weekly livestreams, according to X posts about President-elect Donald Trump’s initiative to streamline the U.S. bureaucracy. Trump named Musk, the billionaire CEO of Tesla, and former Republican presidential candidate Vivek Ramaswamy to lead the panel on Tuesday. Their mission is to…
By Lewis Krauskopf NEW YORK (Reuters) – Nvidia Corp’s results in the coming week could guide the U.S. stock market on its next path, as investors turn their focus to the technology sector and artificial intelligence trade after an election-fueled rally stalled. A nearly 800% run in shares of Nvidia over the past two years,…
By Jarrett Renshaw (Reuters) – President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet…
(Reuters) – ByteDance-owned TikTok on Thursday announced the global availability of its generative AI video creation platform, Symphony Creative Studios, to all advertisers, as the short-video app looks to boost its ad business. Earlier this year at the TikTok World Product Summit, the social media platform unveiled a new creative content suite called ‘Symphony’ with…
(Reuters) – Top executives at many U.S. companies are preparing for the impact from President-elect Donald Trump fulfilling his campaign promise of raising tariffs, a move that could disrupt supply chains and worsen inflationary pressures. Here is the commentary from some C-suite executives, mostly in the run up to the elections: Company Commentary Tesla “…It…
LONDON (Reuters) – The euro has fallen to one-year lows, reviving talk the currency could hit the $1 mark. Donald Trump’s U.S. election win raises the prospect of a hike in tariffs that could deal a fresh blow to the euro zone economy. At around $1.06, the euro has slumped nearly 5% from more than…
By David Shepardson and Allison Lampert (Reuters) -Spirit AeroSystems said Tuesday that planemaker Boeing will pay up to $350 million in advance payments to the firm, providing the struggling supplier a lifeline as it continues to burn cash after four consecutive years of losses. Reuters had reported last week that Spirit and Boeing were close…
By Tatiana Bautzer NEW YORK (Reuters) – President-elect Donald Trump’s return to the White House could usher in a wave of bank mergers and acquisitions as the administration appoints regulators who are more open to approving larger deals, financial executives and analysts said on Tuesday. The banking industry is expected to win big if Republican…
