WASHINGTON (Reuters) – The acting commissioner of the U.S. Internal Revenue Service is being replaced after Treasury Secretary Scott Bessent complained to President Donald Trump that the latest leader of the agency had been installed without his knowledge and at the behest of billionaire Elon Musk, the New York Times reported on Friday. The report…
(Reuters) -San Francisco Federal Reserve President Mary Daly said on Friday that while she is still comfortable with a couple of interest rate cuts this year, rising risks of inflation mean the central bank may need to do less, especially given that uncertainty over President Donald Trump’s trade policy has so far done little to…
By Chris Prentice NEW YORK (Reuters) – Volvo Group plans to lay off as many as 800 workers at three U.S. facilities over the next three months due to market uncertainty and demand concerns in the face of President Donald Trump’s tariffs, a spokesperson said on Friday. Volvo Group North America said in a statement…
WASHINGTON (Reuters) – Apple CEO Tim Cook spoke with U.S. Commerce Secretary Howard Lutnick last week about the potential impact of President Donald Trump’s tariffs on iPhone prices, the Washington Post reported on Thursday, citing two people familiar with the phone call. Trump last week granted tariff exclusions to smartphones, computers and some other electronics…
(Reuters) – A U.S. judge has ruled that Google illegally monopolized digital advertising markets, paving the way for a break up of the internet empire that was started out of a Stanford University dormitory nearly 27 years ago. Google’s platform for advertisers, closely tied to the online search unit, is a core driver of its…
By Will Dunham WASHINGTON (Reuters) -A mineral called siderite found abundantly in rock drilled by a NASA rover on the surface of Mars is providing fresh evidence of the planet’s warmer and wetter ancient past when it boasted substantial bodies of water and potentially harbored life. The Curiosity rover, which landed on Mars in 2012…
(Reuters) – Ford Motor may raise prices of its new vehicles in May if U.S. President Donald Trump’s auto tariffs are not eased, Automotive News reported on Wednesday, citing a memo to dealers. Both U.S. and foreign automakers have rushed to alleviate consumer concerns about tariffs inflating costs at dealerships by offering price assurances and…
By Michael S. Derby (Reuters) -Federal Reserve Bank of Cleveland President Beth Hammack said on Wednesday high uncertainty in the U.S. economy right now argues for the central bank to hold steady on interest rate policy and take in more information before deciding what needs to happen next. “Given the economy’s starting point, and with…
By Phil Stewart and Idrees Ali WASHINGTON (Reuters) – A Pentagon investigation into leaks of classified and sensitive information has expanded to include two more aides to Defense Secretary Pete Hegseth and his deputy, officials said on Wednesday. Reuters was first to report on Tuesday that Dan Caldwell, a senior adviser to Hegseth, was escorted…
By Jody Godoy WASHINGTON (Reuters) – Meta Platforms CEO Mark Zuckerberg testified this week at a high-stakes trial in Washington where the U.S. Federal Trade Commission is seeking to unwind Meta’s acquisitions of prized assets Instagram and WhatsApp. Here are five key moments from his testimony. BREAKUP CONSIDERED Zuckerberg in 2018 floated the idea of…
