MEXICO CITY (Reuters) -Chinese automaker BYD is seeking an extension of tariff relief for electric vehicle imports from Mexico’s government, an executive told newspaper Reforma in an interview published on Friday, as the company aims to build a plant in the country. A decree exempting some 15% to 20% of tariff payments on EVs imported…
(Reuters) – St. Louis Federal Reserve Bank President Alberto Musalem on Friday said the U.S. central bank should cut interest rates “gradually” after what he called the “strong and clear message” of a half-point interest-rate cut last week, which he said he supported. “For me, it’s about easing off the brake at this stage. It’s…
(Reuters) -Visa has agreed to buy AI-focused Featurespace, which develops enterprise technology preventing fraud and financial crime, for an undisclosed amount, it said on Thursday. Top tech companies are racing to build artificial intelligence into their products and services, leading to surging demand for AI chips, services and machine learning technology. Visa said Featurespace’s AI-enabled…
(Reuters) – Airlines in the United States have canceled or delayed thousands of flights on Thursday, as a strengthening hurricane Helene is expected to make a landfall in the Florida big bend this evening. A total of 1,038 flights were canceled and 1,672 delayed as of 11:59 A.M. ET, according to flight tracking website FlightAware….
(Reuters) -Costco Wholesale missed market expectations for fourth-quarter revenue on Thursday on cautious spending by budget-conscious customers at its membership-only stores, as well as an impact from lower gasoline prices. Shares of the company were down about 1% in extended trading. They have gained about 37% so far this year. While ultra-low prices on groceries…
By Georgina McCartney HOUSTON (Reuters) – A Texas commission unanimously on Thursday approved the Permian Basin Reliability Plan, which is designed to expand power grid infrastructure in the United States’ largest oilfield to accommodate rapidly growing demand from the oil and gas industry. The Public Utility Commission of Texas (PUCT) directed the Electric Reliability Council…
By Richard Cowan and Moira Warburton WASHINGTON (Reuters) -The U.S. House of Representatives on Wednesday passed a stopgap bill to avert a partial government shutdown beginning next week, even as a large number of Republicans revolted against their leadership for failing to achieve new federal spending cuts. The stopgap funding bill, which passed in the…
By Nandita Bose and Gabriella Borter PITTSBURGH, Pa. (Reuters) -U.S. Vice President Kamala Harris said on Wednesday she would offer tax credits to domestic manufacturers and invest in sectors that will “define the next century”, as she detailed her economic plan to boost the U.S. middle class. Speaking at the Economic Club of Pittsburgh in…
By Mike Stone, Patricia Zengerle and Phil Stewart WASHINGTON (Reuters) -The United States plans to announce more than $8 billion worth of military assistance for Ukraine on Thursday during Ukrainian President Volodymyr Zelenskiy’s visit to Washington, two U.S. officials said on Wednesday. President Joe Biden’s administration has been engaged in urgent discussions with Congress to…
(Reuters) -Micron Technology forecast first-quarter revenue above Wall Street estimates on Wednesday, betting on strong demand for its high bandwidth memory (HBM) chips used by the AI industry, sending the company’s shares up 10% after the bell. The company is one of the only three providers of HBM chips along with South Korea’s SK Hynix…
