SANTIAGO (Reuters) – BHP will move forward with a $2 billion plan to optimize its concentrator at Escondida, the world’s largest copper mine, as part of its investment plan in Chile, the company said in a statement on Tuesday. BHP said the optimization is the first initiative of its decade-long $10.8 billion investment plan it…
By Pete Schroeder WASHINGTON (Reuters) – U.S. banking sector profits rose 2.3% to $66.8 billion in the fourth quarter of 2024, a bank regulator reported on Tuesday, as it also announced moves to update how so-called problem banks are tracked. In its latest quarterly report, the Federal Deposit Insurance Corporation said it is revising its…
By Noel Randewich (Reuters) – Tesla’s stock tumbled 8% on Tuesday, pushing its market value below $1 trillion for the first time since November after data showed the electric car maker’s sales slumped in Europe in January. The European Automobile Manufacturers Association reported that Tesla sales dropped 45% in Europe, compared with a 37% jump…
By Aditya Soni (Reuters) – Microsoft has scrapped leases for sizeable data center capacity in the U.S., suggesting a potential oversupply at the tech giant as it builds out artificial intelligence infrastructure to meet a possible surge in demand, TD Cowen said. Skepticism has been growing among investors over the billions of dollars U.S. tech…
By Jonathan Stempel (Reuters) – Berkshire Hathaway shares rose to a record on Monday after the conglomerate run by Warren Buffett posted its highest-ever quarterly profit, driven by improvement in insurance operations. The price of Berkshire’s Class A shares rose as much as 4.3% to $749,611 by early afternoon, NYSE data show. That surpassed even…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Nvidia has sued EU antitrust regulators for accepting an Italian request last year to scrutinise its acquisition of AI startup Run:ai, saying they had flouted an earlier court ruling restricting their merger powers on minor deals. While the case does not have any impact on the…
(Reuters) – JPMorgan Chase will continue its diversity efforts, its CEO Jamie Dimon said in an interview with CNBC on Monday, despite a broader corporate retreat from such initiatives. The bank will continue its outreach to Black, Hispanic, LGBT, veteran and disabled communities, Dimon said. Earlier this month, the largest U.S. bank said it expects…
By Tom Polansek and Leah Douglas (Reuters) – The price of eggs at U.S. grocery stores has climbed to a record high, nearly doubling from a year ago, as outbreaks of bird flu have led to shortages by wiping out millions of hens. Eggs are missing from grocery shelves nationwide, and shoppers able to snag…
By Scott DiSavino (Reuters) -U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row to the highest level since June, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by…
(Reuters) – Uber’s CEO Dara Khosrowshahi said on Friday that both he and the ride-hailing firm are supportive of U.S. President Donald Trump’s initiative to eliminate taxes on tips received by its drivers. “I think the President has said he believes in no taxes on tips generally. We think it’s a terrific idea and we…
