(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its benchmark inflation gauge, aiming to capture shifting consumption habits and address concerns that current data is outdated, the head of the statistics ministry said.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…
By Ernest Scheyder and Jarrett Renshaw (Reuters) -The Trump administration is considering a plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects and boost Commerce Secretary Howard Lutnick’s influence over the strategic sector, two sources familiar with the matter told Reuters. The proposed move would take from funds…
By Davide Barbuscia NEW YORK (Reuters) -Investors are bracing for volatility as Federal Reserve Chair Jerome Powell walks a fine line between curbing inflation and supporting the labor market, with thin August trading poised to magnify any market moves from his Jackson Hole speech on Friday. Wall Street largely expects Powell will signal an imminent…
(Reuters) -Comcast-owned NBCUniversal is in advanced talks with Major League Baseball to carry games on NBC and the Peacock streaming service in a three-year deal approaching $200 million annually, the Wall Street Journal reported on Thursday. Netflix is also close to a deal with MLB to stream the ‘Home Run Derby’ for more than $35…
