By Rajesh Kumar Singh CHICAGO (Reuters) – Spirit Airlines was expected to be one of the big travel industry winners after the pandemic. But the no-frills pioneer never found its wings in a changed business and operating landscape. On Monday, the Florida-based carrier filed for bankruptcy protection. While speculation about Spirit’s future began swirling immediately…
By Akash Sriram (Reuters) -Tesla shares rose more than 5% on Monday after Bloomberg News reported that President-elect Donald Trump’s transition team was planning to set up federal regulations for autonomous vehicles. The report comes days after Trump named the automaker’s CEO, Elon Musk, as a co-head of the incoming administration’s government efficiency department. Trump’s…
By Juveria Tabassum (Reuters) – Walmart shares are set for their best yearly gains in over two decades as the retail behemoth’s low prices for everyday essentials give it an edge over competitors facing weak demand from budget-conscious consumers. The stock has gained about 60% so far this year, outstripping gains of about 13% in…
By Howard Schneider WASHINGTON (Reuters) – Strong U.S. economic and inflation data on Friday continued reshaping the debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors further downgraded their expectations for a rate reduction at the central bank’s December meeting. In the latest round of comments on U.S….
By Seher Dareen (Reuters) -Uranium prices gained on Friday after Russia imposed temporary restrictions on the export of enriched uranium to the United States. The move by Russia, the world’s largest supplier of enriched uranium, was a symbolic tit-for-tat move after the U.S. banned Russian uranium imports, adding that companies authorized by the export control…
By Douglas Gillison (Reuters) – A trade group has asked the incoming Trump administration to consider a “comprehensive plan” for updating the U.S. Securities and Exchange Commission’s regulatory framework for investment companies, according to a letter seen by Reuters. The letter from the Investment Company Institute is the latest financial sector wish list to emerge…
By Mike Scarcella (Reuters) -Billionaire entrepreneur Elon Musk expanded his lawsuit against ChatGPT maker OpenAI, adding federal antitrust and other claims and adding OpenAI’s largest financial backer Microsoft as a defendant. Musk’s amended lawsuit, filed on Thursday night in federal court in Oakland, California, said Microsoft and OpenAI illegally sought to monopolize the market for…
WASHINGTON (Reuters) – A group representing major electric vehicle and battery manufacturers on Friday urged President-elect Donald Trump not to kill tax credits for electric vehicle sales and production, citing the impact on key states that voted for the Republican. The Zero Emission Transportation Association, whose members include Rivian LG, Tesla, Uber, Lucid and Panasonic,…
By Lewis Krauskopf NEW YORK (Reuters) – Nvidia Corp’s results in the coming week could guide the U.S. stock market on its next path, as investors turn their focus to the technology sector and artificial intelligence trade after an election-fueled rally stalled. A nearly 800% run in shares of Nvidia over the past two years,…
WASHINGTON (Reuters) – Elon Musk’s government efficiency panel wants “high IQ” employees and plans weekly livestreams, according to X posts about President-elect Donald Trump’s initiative to streamline the U.S. bureaucracy. Trump named Musk, the billionaire CEO of Tesla, and former Republican presidential candidate Vivek Ramaswamy to lead the panel on Tuesday. Their mission is to…
