By Jarrett Renshaw and Chris Kirkham (Reuters) -President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition….
By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) -Walt Disney shares surged Thursday after the entertainment giant reported quarterly earnings that beat Wall Street’s estimates and offered robust guidance for the coming years. The company projected adjusted earnings-per-share percentage growth in the high single digits in fiscal 2025, even with capital expenditures of roughly…
By Patricia Zengerle WASHINGTON (Reuters) – Nearly 90 Democratic lawmakers urged U.S. President Joe Biden to sanction members of Israeli Prime Minister Benjamin Netanyahu’s government over anti-Palestinian violence in the West Bank, according to a letter released on Thursday. Urging Biden to send a message to U.S. partners before he leaves office, the members of…
By Ann Saphir and Howard Schneider DALLAS (Reuters) – Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the U.S. central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said on Thursday. In remarks that align with…
By Rae Wee and Hannah Lang (Reuters) – Bitcoin broke through the $90,000 level on Wednesday, as its rally showed no signs of easing on expectations that Donald Trump as U.S. president will be a boon for cryptocurrencies. The world’s biggest cryptocurrency has become one of the most eye-catching movers in the week since the…
(Reuters) – Amazon.com launched a low-cost ecommerce service called Amazon Haul for some customers in the United States giving them a selection of products at $20 or less, the online retailer said on Wednesday, as it looks to take on Chinese firms Shein and PDD Holdings’ Temu. In August, Amazon CEO Andy Jassy said average…
WASHINGTON (Reuters) -Boeing said on Wednesday it is issuing layoff notices starting this week to workers impacted by a broader plan by the heavily indebted planemaker to cut 17,000 jobs, or 10% of its global workforce. U.S. staff receiving the notices this week will stay on Boeing’s payroll until January to comply with federal requirements…
(Reuters) – Advanced Micro Devices is laying off 4% of its global workforce, or about 1,000 employees, as it directs efforts towards developing AI chips in a bid to compete against industry bellwether Nvidia. AMD is regarded as the closest rival to Nvidia in the lucrative market for chips that form the brains of complex…
WASHINGTON (Reuters) – North Korean troops have begun engaging in combat operations alongside Russian forces, the U.S. State Department said on Tuesday, expressing concern that Russia had turned to North Korea for soldiers to fight in its war with Ukraine. “Over 10,000 DPRK (North Korean) soldiers have been sent to eastern Russia, and most of…
(Reuters) – Alphabet’s Waymo said on Tuesday its autonomous ride-hailing service, Waymo One, is now available to everyone in Los Angeles, a sign of rapid growth and adoption of the technology. Waymo had closed a $5.6 billion funding round last month, as automakers and technology companies are betting big on the driverless technology to foster…
