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 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…
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 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…
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…
By Chris Kirkham and Rachael Levy (Reuters) – As Tesla’s electric-vehicle sales have flattened this year, CEO Elon Musk has increasingly staked the company’s future on his vision for self-driving robotaxis, despite the massive technological and regulatory obstacles in delivering them. Now Musk – as one of President-elect Donald Trump’s biggest backers – may have…
BRUSSELS (Reuters) -The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters. “The European Commission has fined Meta … for breaching EU antitrust rules by tying its online classified ads service Facebook Marketplace to its personal…
By Kanishka Singh WASHINGTON (Reuters) -JPMorgan Chase CEO Jamie Dimon will not be invited to be a part of Donald Trump’s administration, the U.S. president-elect said on social media on Thursday. “I respect Jamie Dimon, of JPMorgan Chase, greatly, but he will not be invited to be a part of the Trump Administration,” Trump said…
