(Reuters) – Nvidia Corp soared to a trillion-dollar market value on Tuesday as shares continued to surge after a bumper earnings report that forced Wall Street to reassess the potential windfall for the chipmaker from an artificial intelligence boom. Here’s an explainer on Nvidia and its role in AI boom. HOW BIG IS NVIDIA IN…
WASHINGTON (Reuters) – Representative Ralph Norman, a hardline conservative Republican, said he will vote against the debt ceiling bill when it comes before the U.S. House Rules Committee later on Tuesday, if it is not amended. (Reporting by David Morgan in Washington)
By Stephanie Kelly NEW YORK (Reuters) – Oil prices fell by about 4% on Tuesday on concerns about whether the U.S. Congress will pass the U.S. debt ceiling pact and as mixed messages from major producers clouded the supply outlook ahead of the OPEC+ meeting this weekend. Brent crude futures fell $3.09, or 4%, to…
By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) -Dina Powell McCormick, the head of Goldman Sachs Group Inc’s sovereign business, is leaving to join merchant bank BDT & MSD Partners, the company said on Tuesday. Powell McCormick, one of the most senior women at Goldman, is joining the merchant bank as a partner, vice…
BRASILIA (Reuters) – Brazil’s newly introduced fiscal framework is stricter than they appear and will require a discussion of important spending cuts, Gabriel Galipolo, the executive secretary of the Finance Ministry, said on Tuesday. Lawmakers in the lower house of Congress last week passed the main text of legislation that is set to replace the…
NEW YORK (Reuters) – Here are some stocks that could benefit, according to analysts at U.S. brokerage BTIG, if U.S. lawmakers this week pass a bipartisan deal to raise the $31.4 trillion debt ceiling, avoiding a potentially catastrophic default. * An agreement to slash funding for the Internal RevenueService by $20 billion is expected to…
By Daphne Psaledakis WASHINGTON (Reuters) – The United States on Tuesday imposed punitive measures on two Syrian money service businesses it said help the government maintain access to the international financial system in violation of sanctions, in Washington’s first action targeting Syria since its readmittance to the Arab League. The U.S. Treasury Department in a…
By Andrew Chung (Reuters) – The U.S. Supreme Court on Tuesday declined to hear a bid by child pornography victims to overcome a legal shield for internet companies in a case involving a lawsuit accusing Reddit Inc of violating federal law by failing to rid the discussion website of this illegal content. The justices turned…
By Blake Brittain WASHINGTON (Reuters) -The U.S. Supreme Court on Tuesday turned away a patent dispute between labeling company Avery Dennison Corp and ADASA Inc that would have given it a chance to clarify a standard that critics have said has sown confusion about what inventions can be legally protected and led to cancellations of…
By Jason Lange WASHINGTON (Reuters) – What could happen on Main Street if Washington’s political showdown over the debt ceiling stopped the government from cutting checks that fund a quarter of the economy? Americans could quickly notice painful blows to their retirement accounts as stock markets swooned, and within days the lack of federal payments…
