Morning Bid: New Zealand, Indonesia set rates; Nvidia vigil almost over
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Monetary policy decisions from New Zealand and Indonesia are the main points of focus in Asia on Wednesday, as debate over the timing of the first U.S. rate cut ebbs and flows,...
1h ago
Argentina's economy seen hitting steepest fall since 2020 in March
By Hernan Nessi BUENOS AIRES (Reuters) - Argentina's economic activity index is expected to have shrunk 6.9% year-on-year in March, its deepest drop since 2020 and the fifth monthly contraction in a row, a Reuters poll on Tuesday showed. The index ...
3h ago
US airlines seek air traffic control hiring, FAA hits back
By David Shepardson WASHINGTON (Reuters) - The trade group for major U.S. airlines on Tuesday urged the government to act quickly to address a long-standing air traffic controller shortage ahead of the busy summer travel season but the U.S. Federal...
3h ago
BoE's Bailey sets out reserves plans as bank unwinds huge bond purchases
By David Milliken and William Schomberg LONDON (Reuters) -Bank of England Governor Andrew Bailey set out an outline for how the central bank intends to keep money markets stable as it sells more of the 875 billion pounds ($1.11 trillion) of government ...
4h ago
Anthropic hires Airbnb veteran Krishna Rao as first CFO, The Information reports
(Reuters) - Artificial intelligence startup Anthropic has hired Airbnb veteran Krishna Rao as its first finance chief, The Information reported on Tuesday, citing people familiar with the matter. Anthropic and Rao did not immediately respond to a R...
5h ago
Microsoft talks up tools for making AI software
By Max A. Cherney SEATTLE (Reuters) - Microsoft talked up new tools on Tuesday aimed at encouraging programmers to build the AI-focused technology into Windows-related software as it races against Alphabet, Amazon.com and Apple to dominate the emer...
5h ago
FDIC needs 'fresh start' with new Chair who is not part of leadership, White House official says
WASHINGTON (Reuters) - The White House believes the U.S. Federal Deposit Insurance Corp needs a "fresh start" with a new Chair that has not been part of the leadership structure, a White House official said. "Within the White House there is a belie...
5h ago
Apple says US antitrust lawsuit should be dismissed
WASHINGTON (Reuters) - Apple said Tuesday it plans to ask a U.S. judge to dismiss a lawsuit filed by the Justice Department and 15 states in March that alleged the iPhone maker monopolized the smartphone market, hurt smaller rivals and drove up pri...
5h ago
Slowing EV uptake may delay Panasonic's EV battery expansion, CEO says
TOKYO (Reuters) - A slowdown in the take-up of electric vehicles in the U.S. may prompt Tesla-supplier Panasonic to delay investing in additional plants to boost its automotive battery capacity in North America, the Japanese group's chief executive...
6h ago
US to close Northeast gasoline reserve with 1 million-barrel sale
By Timothy Gardner WASHINGTON (Reuters) - The Biden administration will sell nearly 1 million barrels of gasoline in the U.S. managed stockpile in northeastern states as required by law, the Department of Energy said on Tuesday, effectively closing...
7h ago
Firm building QatarEnergy-Exxon LNG plant in Texas files for bankruptcy
By Curtis Williams HOUSTON (Reuters) -The lead contractor building a Texas liquefied natural gas (LNG) plant for QatarEnergy and Exxon Mobil on Tuesday filed for Chapter 11 bankruptcy protection, citing challenges at the project. Zachry Holdings, which...
7h ago
Explainer-What are AI PCs?
(Reuters) - The PC just got an AI makeover, raising hopes that the buzzy technology would help revive an industry that has been on a steady decline over the last few years. Here's everything we know about AI PCs: WHAT ARE AI PCS? Manufacturers say ...
7h ago
State officials call on top funds to vote against two Exxon directors
BOSTON (Reuters) - A group of state financial officers and other public and labor leaders on Tuesday called for major asset managers to vote against top Exxon directors, citing the company's lawsuit against climate activists. The group including Ca...
7h ago
GE Aerospace hiring 900 engineers this year
WASHINGTON (Reuters) - GE The company said the hirings are prompted by efforts to support current aircraft engine programs and develop new technologies. Most engineering roles are expected to be filled in the United States but it is hiring around the globe. With the new hires, GE Aerospace will employ about 53,000 peop...
7h ago
Companies look to lengthen currency hedges as elections loom, survey shows
NEW YORK (Reuters) - Companies are increasingly looking to lock in foreign exchange rates for longer, as they seek to protect profits from the potential fallout from currency gyrations that could follow elections expected around the globe this year...
7h ago
Comcast prices Peacock, Netflix, Apple TV+ streaming bundle at $15 a month
(Reuters) - Comcast's new streaming bundle, packaging its Peacock service with Netflix and Apple TV+, will cost $15 per month for all Xfinity internet and TV customers, the media and broadband company said on Tuesday. The new bundle, StreamSaver, i...
8h ago
PepsiCo expands EV fleet across California
(Reuters) - PepsiCo said on Tuesday it would expand its fleet of electric-powered vehicles in California with the introduction of 50 Class 8 Tesla Semi trucks and 75 Ford E-Transit electric vans over the next several months. (Reporting by Juveria ...
8h ago
US households still pinched by inflation, Fed report says
(Reuters) - U.S. households continued to feel pinched by inflation in late 2023 even as price pressures ebbed, the Federal Reserve reported on Tuesday, with most Americans saying their financial situation had changed little in the last year, while ...
8h ago
Pixar Animation to lay off about 14% of workforce
(Reuters) - Pixar Animation Studios on Tuesday began laying off about 14% of its workforce as it scales back development of original streaming series, according to a source familiar with the development. Approximately 175 people will be impacted by...
9h ago
American Airlines must face pilots' lawsuit over paid military leave
By Jonathan Stempel (Reuters) - A federal appeals court on Tuesday revived a lawsuit by American Airlines pilots over the carrier's failure to pay them for short-term military leave. In a 3-0 decision, the 3rd U.S. Circuit Court of Appeals in Phila...
9h ago
Boeing to invest C$240 million in Canadian aerospace development
(Reuters) - Boeing will invest a total of C$240 million ($176 million) in three Canadian aerospace development projects as part of an agreement to sell Poseidon military surveillance planes to Ottawa, the company said on Tuesday. Canada and the Uni...
9h ago
Toyota mulls over $500 million investment into Texas plant, San Antonio Express-News reports
(Reuters) - Toyota Motor's North America arm is seeking tax relief for a potential $531.7 million investment in its Texas facility, the San Antonio Express-News reported citing public record filings on Tuesday. The Japanese automaker plans to const...
9h ago
Amazon's cloud unit pauses orders of Nvidia's most powerful chip, FT reports
(Reuters) - Amazon.com's cloud services unit has paused orders of Nvidia's most advanced "superchip" to wait for a more powerful new model, the Financial Times reported on Tuesday. The new model called Blackwell, the chip sector heavyweight's new f...
9h ago
Fed's Waller sees some progress on inflation, no rate hike needed
By Pete Schroeder WASHINGTON (Reuters) - Federal Reserve Governor Christopher Waller on Tuesday put a pin in speculation that interest rates may need to rise again, saying the latest inflation data is "reassuring" and the U.S. central bank's policy...
10h ago
Nigeria's central bank raises benchmark rate to 26.25%
ABUJA (Reuters) - Nigeria's central bank raised its benchmark lending rate by 150 basis points to 26.25% from 24.75%, in a decision announced on Tuesday. Analysts had widely predicted another hike given inflation has continued to soar and the local...
10h ago