(Reuters) -When China restricted rare earth exports to Japan in 2010 during a diplomatic spat, a wild west domestic industry undermined Beijing with rampant smuggling. In a sharp shift that reflects how China has massively tightened control over the sector since then, when it imposed new restrictions in April this year, automakers worldwide faced shortages…
(In first paragraph please read “this month” not “next month”) By Sabrina Valle NEW YORK (Reuters) -Wall Street rallied to record highs Thursday, as chip-maker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for a U.S. interest rate cut this month….
By Andrea Shalal WASHINGTON (Reuters) -The Trump administration will focus on finding a replacement for Federal Reserve Chairman Jerome Powell this fall, U.S. Treasury Secretary Scott Bessent told CNBC on Thursday, adding that officials had “a lot of good candidates.” Bessent said it was up to the Fed to decide interest rates, although he added…
By Krystal Hu (Reuters) -Ilya Sutskever has taken over the reins of Safe Superintelligence (SSI), the artificial intelligence startup he launched last year, after losing CEO Daniel Gross to an intensifying talent war in the industry. Gross has joined Meta Platforms to lead its AI products division, sources told Reuters. The development comes as tech…
By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) -The BRICS group of developing nations is set to announce a new guarantee fund backed by the New Development Bank (NDB) to lower financing costs and boost investment, two people familiar with the matter told Reuters. The initiative, modeled on the World Bank’s Multilateral Investment Guarantee Agency…
By Deena Beasley (Reuters) -Novo Nordisk on Sunday said full results from two late-stage trials of its experimental weight-loss drug CagriSema show that side effects were mainly mild-to-moderate and other outcome results, including blood sugar levels, were positive. The company had previously announced top-line results for the 68-week studies, which found that CagriSema led to…
By Phil Stewart and Idrees Ali WASHINGTON (Reuters) -As Operation “Midnight Hammer” got underway on Saturday, a group of B-2 bombers took off from their base in Missouri and were noticed heading out toward the Pacific island of Guam, in what experts saw as possible pre-positioning for any U.S. decision to strike Iran. But they…
By Jasper Ward WASHINGTON (Reuters) -U.S. Secretary of State Marco Rubio on Sunday called on China to encourage Iran to not shut down the Strait of Hormuz after Washington carried out strikes on Iranian nuclear sites. Rubio’s comments on Fox News’ “Sunday Morning Futures with Maria Bartiromo” show came after Iran’s Press TV reported that…
By Kanishka Singh and Sarah N. Lynch WASHINGTON (Reuters) -Vice President JD Vance said on Sunday the U.S. was not at war with Iran but at war with its nuclear program, adding the program had been pushed back by a very long time due to American strikes ordered by President Donald Trump. Trump said he…
By Juveria Tabassum (Reuters) -U.S. grocer Kroger bumped up its annual sales growth forecast on Friday and said it would invest in lowering prices to attract value-seeking consumers against a backdrop of tariff-induced uncertainty, sending its shares 7% higher. President Donald Trump’s sweeping tariffs have rattled global markets, raising fears of persistent inflation in the…
