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By Jonathan Stempel (Reuters) -PBS sued Donald Trump on Friday over the U.S. president’s executive order to cut its federal funding, calling it an unconstitutional attack that would “upend public television.” In a complaint filed in the Washington, D.C. federal court, PBS and a public TV station in Minnesota said Trump’s order violated the U.S….
By David Shepardson and Michael Martina WASHINGTON (Reuters) -Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. In a previously unreported May 9 letter to Trump…
(Reuters) -Automakers in the United States, including Tesla, must build entire vehicles including all their parts in the country instead of manufacturing parts abroad, President Donald Trump said on Friday. The comments from Trump, at a press conference marking Tesla CEO Elon Musk’s last official day at the White House as a senior adviser, were…
By Anna Tong, Jeffrey Dastin SAN FRANCISCO (Reuters) -Artificial intelligence developer Anthropic is making about $3 billion in annualized revenue, according to two sources familiar with the matter, in an early validation of generative AI use in the business world. The milestone, which projects the company’s current sales over the course of a year, is…
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(Reuters) -Chicago Federal Reserve Bank President Austan Goolsbee on Thursday said he believes that if big tariffs could be avoided, either through trade deals or otherwise, the U.S. central bank could likely cut interest rates given the underlying strength of the economy and the direction of inflation. Comparing the economic effect of tariffs to a…
By Dan Catchpole (Reuters) -Boeing is “pretty confident” that it can increase production of its best-selling 737 MAX jets to 42 a month, Chief Executive Kelly Ortberg said on Thursday. The U.S. planemaker’s share price jumped 5% after Ortberg said at the Bernstein Strategic Decisions conference that he hoped to have production at 47 a…
By Stephen Nellis (Reuters) -Even as Nvidia reported another blockbuster quarter of 69% sales growth on Wednesday, the maker of artificial intelligence chips warned of more emerging risks to its business due to the technology conflict between the U.S. and China. Tucked into Nvidia’s quarterly filing with U.S. securities regulators, Nvidia for the first time…
By Sayantani Ghosh, David Gaffen, Arpan Varghese SAN FRANCISCO/NEW YORK/BENGALURU (Reuters) -President Donald Trump’s trade war has cost companies more than $34 billion in lost sales and higher costs, according to a Reuters analysis of corporate disclosures, a toll that is expected to rise as ongoing uncertainty over tariffs paralyzes decision making at some of…
