By Matt Tracy WASHINGTON (Reuters) -U.S. corporate credit spreads widened on Monday as the U.S. stock market closed below a key technical indicator for the first time in months. The average option-adjusted spread on U.S. high-yield corporate credit, or the premium over Treasury spreads paid by companies to borrow, widened six basis points between Friday…
(Reuters) -U.S. President Donald Trump’s lavish welcome of Crown Prince Mohammed bin Salman to Washington this week, touted by many as rehabilitation of human rights record of Saudi Arabia’s de facto ruler, has been followed by the kingdom ramping up its planned U.S. investments to $1 trillion. The move marks a remarkable increase from the…
(Reuters) -Shares in Amkor Technology rose more than 8% in after-the-bell trading on Wednesday during Nvidia’s conference call after the AI chip leader’s chief financial officer named Amkor among companies it plans to work with on chip packaging. Amkor shares were last at $33.58 after hitting a high of $34.75 after closing the regular session up 2.4%…
(Reuters) -The Social Security Administration has scrapped a plan that would have stopped thousands of Americans from qualifying for disability benefits, the Washington Post reported on Wednesday, citing people familiar with the decision. The policy would have changed eligibility for two federal disability programs by either eliminating or limiting the age of the claimant as…
By David Lawder (Reuters) -U.S. Treasury Secretary Scott Bessent said on Tuesday that customs duty revenues from President Donald Trump’s tariffs may top $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September. Bessent told a White House Cabinet meeting that his prior estimate of a…
By Jody Godoy (Reuters) -The parents of a teen who died by suicide after ChatGPT coached him on methods of self harm sued OpenAI and CEO Sam Altman on Tuesday, saying the company knowingly put profit above safety when it launched the GPT-4o version of its artificial intelligence chatbot last year. Adam Raine, 16, died…
By Howard Schneider and Ann Saphir (Reuters) -Federal Reserve Governor Lisa Cook, whose removal is being sought by President Donald Trump over allegations of misstatements on her mortgages, will seek court approval for her continued right to carry on in her role at the U.S. central bank, the Fed said on Tuesday. “Lisa Cook has…
By Riham Alkousaa BERLIN (Reuters) -Canada is working with its allies to potentially fund critical mineral transactions, similar to what the U.S. government did with MP Materials to diversify the supply chain from China, Energy and Natural Resources Minister Tim Hodgson told Reuters on Tuesday. The key target, Hodgson said, would be minerals subject to China’s…
By Diana Novak Jones (Reuters) -Kraft, Mondelez, Coca-Cola and several other major food companies on Monday succeeded in winning the dismissal of a lawsuit that accused them of designing harmful “ultra-processed” foods addictive to children. U.S. District Judge Mia Perez in Philadelphia granted the companies’ motion to dismiss after finding that the plaintiff in the…
By Frank Pingue (Reuters) -The NFL has tapped its roster of retired players to help keep the current crop from fumbling away their careers over gambling violations — enlisting former gridiron veterans to deliver the message that betting and football simply do not mix. Sabrina Perel, the NFL’s vice president and chief compliance officer, said…
