Sign In
Free Newsletter
President Trump delays higher furniture tariffs
WASHINGTON — President Donald Trump signed a New Year’s Eve proclamation delaying higher tariffs on upholstered furniture, kitchen cabinets and vanities for one year as trade negotiations continue with major partners. The order, signed on Wednesday, keeps in place a 25% tariff imposed in September on those imported go[...]
Trump says the job market is booming for U.S.-born. The data doesn’t show it.
President Donald Trump and White House leaders say that American workers are winning because of his immigration crackdown. But the data doesn’t back that up. Since the summer, Trump officials have been trumpeting the idea that job creation is booming for U.S.-born workers. Trump said so, too, during a prime-time address la[...]
US refiner Phillips 66 to acquire Britain’s Lindsey oil refinery assets
U.S. refiner Phillips 66 will acquire assets of Britain’s Lindsey oil refinery after liquidation and integrate them into its Humber site.
US oil companies gain after Trump signals access to Venezuela’s reserves
U.S. oil and refining stocks surged after Trump said American firms could access Venezuela’s vast oil reserves amid political upheaval.
Tesla loses EV crown to China’s BYD as competition, tax credit expiry hit demand
Jan 2 (Reuters) – Tesla ceded its crown as the world’s top electric vehicle maker to China’s BYD, after annual sales fell for a second year, hit by rising competition, the expiry of U.S. tax credits and brand backlash. With global EV sales rising 28% last year, BYD outsold Tesla for the first time on […]
Berkshire Hathaway enters post-Buffett era as shares drift lower
Jan 2 (Reuters) – Berkshire Hathaway’s post-Buffett era began quietly Friday, as shares slipped slightly after the “Oracle of Omaha” handed Greg Abel the top job following six decades at the helm. The world’s most famous conglomerate now must protect its record without its chief architect, [...]
Dollar climbs to start 2026 after biggest annual drop in eight years
LONDON, Jan 2 (Reuters) – The U.S. dollar kicked off 2026 on a stronger note on Friday after struggling against most currencies last year, as traders awaited a flurry of U.S. economic data next week, including several reports on the labor market, to gauge the path of interest rates. A narrowing interest rate difference bet[...]
Nvidia in talks to buy Israeli AI startup AI21 for $3B
JERUSALEM, Dec 30 (Reuters) – Nvidia is in advanced talks to buy Israel-based AI startup AI21 Labs for as much as $3 billion, the Calcalist financial daily reported on Tuesday. Nvidia declined to comment, while AI21 was not immediately available to comment. A 2023 funding round valued AI21 at $1.4 billion. Nvidia and Alpha[...]
Trump’s funding cuts put America’s consumer watchdog on the brink of collapse
WASHINGTON, Dec 30 (Reuters) – When Bianca Jones, a 33-year-old special education teacher in Memphis, Tennessee, decided a couple of years ago that she wanted to buy a house, she started digging into her Experian credit report. She was shocked by what she found. Her student debt had been double-counted, making it look as t[...]
SoftBank completes $40B OpenAI investment
Dec 30 (Reuters) – SoftBank Group has completed its $40 billion investment in OpenAI, a source familiar with the matter said on Tuesday, marking one of the largest private funding rounds ever and deepening founder Masayoshi Son’s bet on AI. SoftBank has been building one of the largest private technology investment p[...]
Lululemon founder Chip Wilson launches proxy fight for board shakeup
Dec 29 (Reuters) – Lululemon Athletica’s founder Chip Wilson said on Monday he had launched a proxy fight by nominating three independent directors to the company’s board, days after the apparel maker announced the exit of CEO Calvin McDonald. Lululemon shares have shed nearly half their value this year as the [...]
Nvidia takes $5 billion stake in Intel under September agreement
Dec 29 (Reuters) – Nvidia has purchased Intel shares worth $5 billion, the American semiconductor firm said in a filing on Monday, carrying out a transaction announced in September. The leading AI chip designer said in September it would pay $23.28 per share for Intel common stock, in a deal that is seen as a […]
