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Fed’s Waller says he ‘absolutely’ would defend US central bank’s independence
NEW YORK, Dec 17 (Reuters) – Federal Reserve Governor Christopher Waller, who is on the short list to succeed Fed Chair Jerome Powell next year, said on Wednesday he would “absolutely” defend the central bank’s independence if it were challenged by a U.S. president. Waller, who is set to meet with Preside[...]
Google works to erode Nvidia’s software advantage with Meta’s help
Dec 17 (Reuters) – Alphabet’s Google is working on a new initiative to make its artificial intelligence chips better at running PyTorch, the world’s most widely used AI software framework, in a move aimed at weakening Nvidia’s longstanding dominance of the AI computing market, according to people familiar[...]
Oil rises as Trump’s Venezuela blockade takes edge off global crude surplus concerns
Oil prices rose more than 1% after Trump ordered a blockade of sanctioned Venezuelan oil tankers, tightening supply risks.
Warner Bros Discovery board rejects rival bid from Paramount
LOS ANGELES, Dec 17 (Reuters) – Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday, saying it failed to provide adequate financing assurances. In a letter to shareholders, disclosed in a regulatory filing, the board wrote that Paramount had “consistently mi[...]
PayPal applies to form its own bank to expand small-business lending
PayPal is seeking a banking charter that would allow it to boost its lending business, offer savings accounts that can earn interest and make customers’ deposits eligible for federal insurance coverage, the payments company said Monday. PayPal has submitted applications to authorities in Utah and to the Federal Deposit In[...]
Incoming Kraft Heinz CEO says he endorses split, reserves right to improve it
Incoming Kraft Heinz CEO Steve Cahillane supports the company’s split into two businesses but says plans could still be refined.
Unemployment rate rises, signaling weakness in the economy
The economy is flashing new warning signs, as the U.S. labor market shed jobs over October and November, and the unemployment rate ticked up to 4.6 percent, the highest level since 2021. Job gains of 64,000 in November exceeded expectations but only partially offset the loss of 105,000 jobs in October. Those losses, the sharpest[...]
Roomba maker iRobot files for bankruptcy protection; will be taken private under restructuring
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. IRobot, which became well known for its robotic vacuums, has struggled of late, dealing with increased competiti[...]
Ford retreats from EVs, takes $19.5 billion charge as Trump policies take hold
Dec 15 (Reuters) – Ford Motor said on Monday it will take a $19.5 billion writedown and is killing several electric-vehicle models, in the most dramatic example yet of the auto industry’s retreat from battery-powered models in response to the Trump administration’s policies and weakening EV demand. The Dearborn[...]
Sen. Cruz threatens another shutdown unless restrictions on military flights are approved
WASHINGTON D.C. (AP) — Republican Sen. Ted Cruz threatened Monday to hold up funding to keep the federal government open after the end of January if reforms don’t pass by then to tighten up the rules on military flights and help prevent deadly crashes like the collision between an airliner and an Army helicopter over W[...]
Trump’s $100,000 H-1B visa fee draws legal challenge from US states
California and 18 states are suing to block Trump’s $100K H-1B visa fee, arguing it exceeds federal authority and threatens key industries.
Trump Launches $1M ‘Gold Card’ Offering Path to Citizenship
Trump launches a $1M “gold card” offering legal status and a path to citizenship, replacing the EB-5 visa to attract skilled workers.
