(Reuters) – A group of Morgan Stanley-led banks is set to increase a sale of loans tied to Elon Musk’s social media platform X after receiving stronger-than-expected demand from investors, Bloomberg News reported on Tuesday. The banks had initially planned to sell about $3 billion worth of loans, Reuters reported last month. However, they are…
(Reuters) – Shares of vaccine makers and packaged food companies fell on Tuesday after President Donald Trump’s pick for U.S. health secretary, Robert F. Kennedy Jr., moved closer to the job after a favorable vote by a Senate panel. The vote by the U.S. Senate Finance Committee paves the way for the full Senate to…
OAKLAND, Calif. (Reuters) – – Lawyers for Elon Musk and ChatGPT maker OpenAI are set to butt heads in the courtroom on Tuesday as a judge will hear arguments on Musk’s lawsuit to halt OpenAI’s conversion to a for-profit entity. Musk’s request to block OpenAI’s conversion is the latest move in a grudge match between…
By Bo Erickson WASHINGTON (Reuters) – Some lawmakers in the U.S. Congress have expressed dismay at President Donald Trump’s threat to slap new tariffs on Canada, China and Mexico, but they have limited power to stop him. WHICH BRANCH OF GOVERNMENT HAS TARIFF POWER? The U.S. Constitution gave Congress the power to set and regulate…
OSLO (Reuters) – Tesla lost market share in Sweden and Norway in January, car registration data showed on Monday as the U.S. electric vehicle maker faces a test of popularity following billionaire CEO Elon Musk’s high-profile foray into politics. A total of 405 new Teslas were registered in Sweden last month, down 44% from January…
By Supantha Mukherjee GOTHENBURG (Reuters) – Hemanth Mandapati, boss of German startup Novo AI, was an early adopter of DeepSeek chatbots when he switched to the Chinese AI model from OpenAI’s ChatGPT two weeks ago. “If you have built your application using OpenAI, you can easily migrate to the other ones … it took us…
By Manya Saini and Niket Nishant (Reuters) -Robinhood is rolling out event contracts to let U.S. users wager on the outcome of the Super Bowl clash, it said on Monday, seeking to tap into the betting mania around one of the most iconic sporting events in the country. The platform has been pushing to gain…
(Reuters) – Asset manager Vanguard said on Monday it was lowering the cost of investing across its fund lineup in its largest cut ever and estimated that this would translate into savings of more than $350 million for its investors this year. Valley Forge, Pennsylvania-based Vanguard slashed the expense ratio, or the cost of owning…
By Rajendra Jadhav MUMBAI (Reuters) – Global bullion banks are flying gold into the United States from trading hubs catering to Asian consumers, including Dubai and Hong Kong, to capitalize on the unusually high premium that U.S. gold futures are enjoying over spot prices. Traditionally, bullion banks transport gold eastward from the West to meet…
By Trevor Hunnicutt and Pete Schroeder WASHINGTON (Reuters) – U.S. President Donald Trump signed an executive order on Monday ordering the U.S. Treasury and Commerce Departments to create a sovereign wealth fund and said it may purchase TikTok. “We’re going to stand this thing up within the next 12 months. We’re going to monetize the…
