By Howard Schneider PALO ALTO (Reuters) -President Donald Trump’s unfolding trade policy may curb U.S. productivity and possibly require higher interest rates to contain inflation in a less efficient economy, Federal Reserve governor Lisa Cook said on Friday. “I expect to see a drag on productivity in the near term stemming from the recent changes…
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By Jonathan Stempel (Reuters) -Google agreed to pay $50 million to settle a lawsuit accusing the search engine company of systemic racial bias against Black employees. A preliminary settlement covering more than 4,000 Google employees in California and New York was filed on Thursday evening in the Oakland, California federal court, and requires a judge’s…
By Gram Slattery, Valerie Volcovici and Steve Holland WASHINGTON (Reuters) – U.S. officials are discussing a plan to pull Greenland into America’s sphere of influence using a type of agreement that the United States has used to keep close ties with several Pacific Island nations, according to two U.S. officials and another person familiar with…
By Arathy Somasekhar HOUSTON (Reuters) -Shell, the top U.S. offshore producer, said this week that two of its wells to boost production at the Perdido offshore development were delayed to the end of the year, while one was brought online in March. All three wells, part of Perdido’s Great White unit, were originally expected to…
By Ann Saphir and Howard Schneider Palo Alto, California (Reuters) -Kevin Warsh, an apparent frontrunner to be U.S. President Donald Trump’s pick to be the next chair of the Federal Reserve, on Friday suggested a possible pathway to the lower policy rates that Trump has repeatedly pressed the current Fed Chair Jerome Powell to deliver,…
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WASHINGTON (Reuters) -Microsoft does not allow its employees to use an artificial intelligence app developed by Chinese AI startup Deepseek, due to concerns related to data vulnerability as well as Chinese propaganda, President Brad Smith said on Thursday. Speaking at a Senate hearing on winning the AI race with China, Smith said the company also…
(Reuters) -Apple is developing specialized chips that will power future devices including its first smart glasses, artificial intelligence servers and new MacBooks, Bloomberg News reported on Thursday. The iPhone-maker has made progress on the chip that it’s developing for smart glasses, the report said, citing people with knowledge of the matter. This indicates that Apple…
By Jonathan Stempel (Reuters) -Citigroup must face a revived lawsuit claiming it caused more than $1 billion of losses by orchestrating and concealing a vast fraud at the now-bankrupt Mexican oil and gas services company Oceanografia, a U.S. appeals court ruled on Thursday. A three-judge panel of the 11th U.S. Circuit Court of Appeals in…
