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 […]
EV companies, battery makers urge Trump not to kill vehicle tax credits
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, […]
Fed’s Goolsbee sees another 125 bps of rate cuts by end-2025
(Reuters) – Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year, as Fed policymakers projected in September . “I think we are […]
Elon Musk efficiency panel seeks ‘high IQ’ staff, plans livestreams
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 […]
Boeing hires Northrop executive to take over Pentagon projects
(Reuters) – Boeing said on Thursday it hired former Northrop Grumman executive Colin Miller to head its Phantom Works research arm within the company’s defense business unit. Miller’s hiring as general manager of Phantom Works at Boeing Defense, Space and Security (BDS) had been in the works before the arrival of new Boeing CEO Kelly […]
Exclusive-Trump’s transition team aims to kill Biden EV tax credit
By Jarrett Renshaw and Chris Kirkham (Reuters) -President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. […]
Amazon’s push into telehealth knocks shares of Hims & Hers
(Reuters) – Shares of Hims & Hers Health slumped 15% on Thursday after Amazon.com launched a rival service that offers upfront pricing for telehealth visits. Amazon said it is introducing low, upfront pricing for a clinical visit, treatment plan, and free medication delivery for Prime members for a range of common health, beauty and lifestyle […]
China’s Pony AI seeks up to $4.5 billion valuation in long-sought New York listing
(Reuters) -Pony AI is seeking a valuation of up to $4.48 billion in its U.S. initial public offering, it said on Thursday, as the Chinese autonomous driving firm moves ahead with its long-sought plan for a New York listing. Pony, backed by Japanese automaker Toyota, aims to raise up to $195 million by offering 15 […]
EU regulators quiz Novo Nordisk, Catalent rivals on $16.5 billion deal
By Foo Yun Chee and Maggie Fick BRUSSELS/LONDON (Reuters) – EU antitrust regulators have asked pharma rivals and customers for feedback in four business areas in light of Novo Holdings’ planned $16.5 billion takeover of Catalent, people familiar with the matter said. Novo Holdings is the controlling shareholder of Danish drugmaker Novo Nordisk, whose profits […]
AMD to cut 4% of global workforce as it focuses on AI chip development
(Reuters) – Advanced Micro Devices is laying off 4% of its global workforce, or about 1,000 employees, as it directs efforts towards developing AI chips in a bid to compete against industry bellwether Nvidia. AMD is regarded as the closest rival to Nvidia in the lucrative market for chips that form the brains of complex […]