WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent on Wednesday said he plans to present three or four candidates to be the next leader of the Federal Reserve to President Donald Trump for him to interview sometime after the Thanksgiving holiday in late November. Bessent said at a CNBC event held on the sidelines of the…
By Krystal Hu and Deepa Seetharaman (Reuters) -Artificial intelligence startup Anthropic is projecting to more than double and potentially nearly triple its annualized revenue run rate next year, fueled by the rapid adoption of its enterprise products, according to two people familiar with the matter. The company is on track to meet an internal goal…
(Reuters) -Wall Street’s biggest banks kicked off third-quarter earnings by highlighting the resilience of U.S. consumers and added that credit has shown no cracks so far despite higher rates and economic uncertainty. Large lenders provide a window into consumer health because their lending, credit card activity and deposit flows reflect how households are spending, borrowing…
(Reuters) -American Battery Technology said on Wednesday the U.S. Department of Energy has terminated its grant for the setting up of a facility for the manufacturing of battery cathode grade lithium hydroxide. Under the grant, DOE’s Manufacturing Energy Supply Chain office would contribute $57.7 million, while the company would put in an equal amount towards…
By Arathy Somasekhar HOUSTON (Reuters) -U.S. oil production growth will stall if prices stay near $60 per barrel, as fewer drilling sites are profitable at that level, the CEO of Diamondback Energy, one of the country’s top oil producers, said on Wednesday. “There’s only so much Tier 1 rock,” Kaes Van’t Hof said while speaking…
(Reuters) -Intel is in early talks to add AMD as a foundry customer, Semafor reported on Wednesday, citing people familiar with the matter. AMD did not immediately respond to a request for comment, and Intel declined to comment. Semafor did not report details of any possible deal. Reuters reported in April that AMD was evaluating…
(Reuters) -Honeywell said on Wednesday that it has divested all of its Bendix asbestos liabilities, as well as certain non-Bendix asbestos liabilities, to corporate liability acquisition platform Delticus. The company is streamlining operations, with a plan to split into three independently listed companies expected to be completed by next year. Honeywell inherited asbestos liabilities and…
By Milana Vinn and Elvira Pollina New York (Reuters) -Yahoo is in advanced talks to sell AOL to Italian technology company Bending Spoons for about $1.4 billion, four sources familiar with the matter said, as the Apollo Global Management-backed firm sheds one of the most recognizable names of the early internet era. The Milan-based app…
By Shashwat Chauhan and Johann M Cherian (Reuters) -U.S. corporate sectors that are sensitive to interest rates will be in focus as the Federal Reserve looks poised to lower borrowing costs for the first time this year, with most having already notched up gains after Chair Jerome Powell hinted at cuts last month. After easing…
(Reuters) – Shares of Workday rose nearly 9% on Wednesday, after activist investor Elliott Management unveiled a stake of more than $2 billion in the company and backed its leadership. Workday has been pushing to stay competitive in a consolidating human resources software market, where integrating AI has become key to meeting shifting client needs….
