(Reuters) -Goldman Sachs CEO David Solomon on Thursday expressed concerns that mounting U.S. government debt will pose more of a problem if the economy does not grow faster. “If we continue on the current course, and we don’t take the growth level up… there will be a reckoning,” Solomon told the Economic Club of Washington. …
(Reuters) -Top technology companies hit fresh valuation milestones in October, as their shares climbed on expectations of robust demand for AI chips and computing infrastructure driven by the artificial intelligence boom. Nvidia’s shares jumped nearly 11% over the past month, adding about $500 billion in market value as it became the first company to reach…
(Reuters) -Kroger is laying off nearly 1000 corporate workers, Bloomberg News reported on Tuesday, citing a memo sent to staff by interim CEO Ron Sargent. The company, as of February, employed over 409,000 staff, with most of them working in stores. The grocer had said in June it would close about 60 underperforming stores over…
(Reuters) -The U.S. Transportation Department said on Tuesday it is cancelling $175 million for four projects that are part of California’s high-speed rail project, following cancellation of $4 billion in federal grants for the state’s ambitious but much-delayed high-speed rail project in July. The Trump administration said Tuesday it will withdraw funding for grade separation,…
(Reuters) -Meta’s planned AI data center in Louisiana will cost $50 billion, President Donald Trump said during a cabinet meeting on Tuesday. The social media company is building its largest data center in Richland Parish, which could handle intense computational power to support digital infrastructure, including artificial intelligence workloads. The Facebook and Instagram parent declined…
By Sabrina Valle NEW YORK (Reuters) -Two major rail operators have taken themselves out of the merger game that has gripped the industry for the past month, reshaping the competitive landscape and raising the regulatory stakes for Union Pacific’s proposed $85 billion tie-up with Norfolk Southern . Canadian Pacific Kansas City joined Warren Buffett’s BNSF…
By Idrees Ali and Emily Schmall WASHINGTON (Reuters) -U.S. President Donald Trump said on Monday that the U.S. military might deploy to Chicago and is ready to go anywhere on short notice to crack down on crime. Citing a purported wave of lawlessness, Trump seized control this month of the police force in Washington, D.C.,…
By Shubham Batra NEW DELHI (Reuters) -India will start sourcing price data directly from e-commerce giants including Amazon and Walmart-owned Flipkart to overhaul its benchmark inflation gauge, aiming to capture shifting consumption habits and address concerns that current data is outdated, the head of the statistics ministry said. The move could make India’s retail inflation…
By Nivedita Balu TORONTO (Reuters) -Canada’s big banks are expected to have lowered loan-loss provisions in the third quarter from the prior quarter as U.S. tariffs have likely hurt their loan portfolios less than feared. Canada’s big six banks are expected to set aside a total of C$5.22 billion in loan-loss provisions for the third…
(Reuters) -The administration of U.S. President Donald Trump intends to withdraw federal approval for US Wind’s offshore wind farm off the coast of Maryland, according to a filing in the U.S. District Court in Delaware on Friday. In the filing, attorneys from the Department of Justice asked the court to stay a lawsuit challenging the…
