(Reuters) – The United States is considering new restrictions on exports of artificial intelligence chips to China, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Shares of Nvidia and Advanced Micro Devices (AMD) fell about 1.4% on the news. Nvidia, Micron, and AMD are among the U.S. chipmakers caught in…
By Valentine Hilaire MEXICO CITY (Reuters) – Mexican shipping startup Nuvocargo announced on Tuesday it had raised $36.5 million in a new round led by QED Investors, as nearshoring offer new trade opportunities between Mexico and the U.S. The round, which also included participation from NFX and Tiger Global, will allow Nuvocargo to cover the…
By David Shepardson and Lisa Baertlein WASHINGTON/LOS ANGELES (Reuters) – Acting Labor Secretary Julie Su’s nomination to officially lead that agency is at risk even after she helped negotiate a crucial contract deal between U.S. West Coast seaport employers and the union representing 22,000 workers this month. The criticism from Republican opponents in the U.S….
By Daphne Psaledakis and Humeyra Pamuk WASHINGTON (Reuters) – The United States took aim at Russia’s Wagner Group and imposed sanctions on Tuesday on companies it accused of engaging in illicit gold dealings to fund the mercenary force. The U.S. Treasury Department in a statement said it slapped sanctions on four companies in the United…
(Reuters) – National CineMedia LLC said on Tuesday it would emerge from Chapter 11 on or around August or September as its reorganization plan has been confirmed by the U.S. Bankruptcy Court for Southern District of Texas. The biggest movie-theater advertising firm in North America will maintain its existing corporate structure with listed holding company…
SEOUL (Reuters) – Consumer sentiment in South Korea ticked further up in June to the highest in just over a year, while inflation expectations remained unchanged, a central bank survey showed on Wednesday. The Consumer Sentiment Index rose to 100.7 in June from 98.0 in May, the highest since May 2022, according to the Bank…
WASHINGTON (Reuters) – The U.S. Supreme Court has issued a number of important rulings during its current term that began last October and is expected to decide its remaining cases by the end of June including disputes involving race-conscious college admissions practices, President Joe Biden’s student debt forgiveness plan and LGBT rights. Here is a…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks advanced in a broad rally on Tuesday, and the dollar softened as robust economic data eased recession fears and stoked investors’ risk appetite. All three major U.S. stock indexes closed well into positive territory, with tech-related megacaps – particularly those involved in a nascent AI frenzy…
By Martin Quin Pollard and Yew Lun Tian BEIJING (Reuters) – As news broke on Saturday that mercenary Wagner troops were careering towards Moscow in a short-lived rebellion, several businessmen from southern China began frantically calling factories to halt shipments of goods destined for Russia. While the mutiny – the biggest test of Russian President…
By Nivedita Balu and Fergal Smith TORONTO (Reuters) – Canada’s record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from higher borrowing costs but raising debt loads and worrying regulators. Variable rate mortgages in Canada typically require borrowers…
