By Nathan Layne (Reuters) – The U.S. Social Security Administration abandoned plans to end phone services for retirees that would have started on Monday, following a growing outcry from advocates who warned that the changes could cause chaos and further strain the agency. The agency, which pays out $1.4 trillion in benefits to 73 million…
By Lananh Nguyen and Sinead Cruise NEW YORK/LONDON (Reuters) – Wall Street bosses are girding for Europe to sideline American investment banks in response to the tariff war unleashed by U.S. President Donald Trump, fearing client boycotts and in a worst-case scenario, even formal restrictions. More than half a dozen senior bankers and advisers told…
By Aditya Soni (Reuters) -The “Magnificent Seven” stocks were poised to gain more than $1 trillion in market value on Wednesday after U.S. President Donald Trump approved a 90-day tariff pause, easing pressure on tech giants that had tumbled in recent sessions. Shares of the companies, which include AI chip giant Nvidia, Apple, Tesla and…
(Reuters) – Traders boosted bets on Tuesday the Federal Reserve will start cutting its policy rate as soon as next month, as the White House said additional tariffs on imports from China will go into effect on Wednesday in a further escalation of trade hostilities that could slow the economy. Traders put about a 56%…
(Reuters) -A Tesla Supercharger station was damaged in Lacey, Washington, on Tuesday, according to local police and the Federal Bureau of Investigation. The impacted Tesla Supercharger station, which is located at 665 Sleater Kinney Road SE in Lacey, comprises 12 Superchargers, each capable of delivering up to 250 kW of power, according to the company’s…
LONDON (Reuters) – Physically backed gold exchange-traded funds (ETFs) registered the largest quarterly inflow in three years in January-March, 2025, data from the World Gold Council (WGC) showed on Tuesday. Investors seeking shelter from political and economic volatility were moving into gold ETFs, which store bullion for investors, in the first quarter. A global trade…
By Alexandra Ulmer, Marisa Taylor, Jeffrey Dastin and Alexandra Alper (Reuters) -Trump administration officials have told some U.S. government employees that Elon Musk’s DOGE team of technologists is using artificial intelligence to surveil at least one federal agency’s communications for hostility to President Donald Trump and his agenda, said two people with knowledge of the…
By Jonathan Stempel (Reuters) -A divided federal appeals court on Monday put on hold an injunction that blocked Elon Musk and his Department of Government Efficiency from accessing Americans’ private data at the Treasury and Education departments and the Office of Personnel Management. In a 2-1 vote, the 4th U.S. Circuit Court of Appeals stayed…
(Reuters) – German chipmaker Infineon Technologies said on Monday it would buy Marvell Technology’s automotive ethernet business for about $2.5 billion in cash, to expand its microcontroller segment. The automotive ethernet business, which will become a part of Infineon’s automotive division, is expected to generate revenue between $225 million and $250 million in the calendar…
By Daina Beth Solomon and Fabian Cambero SANTIAGO (Reuters) – Chile’s total lithium resources are 28% greater than previously estimated, according to new studies of salt flats in the northern Antofagasta region that show a higher amount of the battery metal, state mining body ENAMI said on Monday. A new analysis shows that the La…
