(Reuters) – Intel Corp said on Wednesday its manufacturing business will work like a separate unit and will begin to generate a margin, but gave no clear timeline on when it will start scaling up, sending the chipmaker’s shares down about 5%. The company also did not name a new external customer for the business…
(Reuters) – Uber Technologies said on Wednesday it was cutting 200 jobs in its recruitment division amid plans to keep the staff count flat through the year and streamline costs. The reductions affect less than 1% of Uber’s 32,700-strong global workforce and follow the ride-share company laying off 150 employees in its freight services division…
By David Shepardson WASHINGTON (Reuters) -Tesla urged the Biden administration to finalize significantly stricter heavy-duty emissions limits than proposed in April, arguing larger vehicles were being electrified much faster than envisioned and would lead to bigger pollution cuts. The electric vehicle (EV) manufacturer said in comments made public on Tuesday that the Environmental Protection Agency’s…
By David Shepardson and Richard Cowan WASHINGTON (Reuters) -U.S. Senate Majority Chuck Schumer on Wednesday called for “comprehensive legislation” to advance and ensure safeguards on artificial intelligence (AI) and will hold a series of forums in later this year. “If the government doesn’t step in, who will fill its place? Individuals and the private sector…
LONDON (Reuters) – The United States will send $1.3 billion more in aid to Ukraine to help the conflict-hit country overhaul its energy grid and modernise its ports, railways and other infrastructure, U.S. Secretary of State Antony Blinken said on Wednesday. “Recovery is about laying the foundation for Ukraine to thrive as a secure, independent…
By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve’s fight to lower inflation back to its 2% target “has a long way to go,” Federal Reserve Chair Jerome Powell said on Wednesday in testimony prepared for delivery to the House Financial Services Committee. “Inflation has moderated somewhat since the middle of last year,” with the…
By Chris Prentice NEW YORK (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday slapped Marcum LLP with a $10 million penalty for standards violations and systemic quality control failures in its audit work for hundreds of special purpose acquisition companies, or SPACs. Marcum, one of the leading auditors of SPACs, had substantial…
By Ann Saphir (Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Wednesday that the U.S. central bank needs more clarity on inflation and the labor market’s trajectory before deciding on its next step. “I feel like the Fed’s framework is, ‘wait and see,’” Goolsbee told the WSJ Global Food Forum in Chicago….
By Leah Douglas WASHINGTON (Reuters) -Two companies, Upside Foods and Good Meat, said on Wednesday they have received final U.S. Department of Agriculture approval to sell lab-grown meat, paving the way for the nation’s first-ever sales of the product. With the approvals, the United States will become the second country after Singapore to allow the…
By Andrew Chung (Reuters) -Conservative U.S. Supreme Court Justice Samuel Alito has acknowledged taking a private jet to Alaska for a luxury fishing trip in 2008 but defended his failure to disclose the flight provided by a billionaire hedge fund manager whose business interests have come before the court. Alito wrote a commentary published in…
