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…
LONDON (Reuters) – Collapsed cryptocurrency company FTX is suing Binance and its former CEO Changpeng Zhao, alleging that $1.8 billion was “fraudulently transferred” by FTX management to Binance and its executives. The lawsuit relates to Binance’s sale of its stake in Sam Bankman-Fried’s FTX, which it acquired in 2019 but then negotiated to sell back…
By Jonathan Landay WASHINGTON (Reuters) – When he takes office in January, President-elect Donald Trump will inherit a raft of national security challenges, including major wars in Ukraine and the Middle East. Less discussed are the growing nuclear threats facing the United States, including from Russia, China and Iran. Here are the five most pressing…
(Reuters) – Tesla’s market value breached the $1 trillion-mark in a sharp rally on Friday, on growing bets of a favorable treatment for CEO Elon Musk’s companies in return for his support for President-elect Donald Trump in his poll campaign. The electric automaker’s shares rose more than 6% to a more than two-year high of…
By David Morgan WASHINGTON (Reuters) – Donald Trump’s Republicans looked set on Wednesday to possibly win control of both chambers of Congress, giving them sweeping powers for the first time in eight years to ram through a broad agenda of tax and spending cuts, energy deregulation and border security controls. But it would also force…
