By David Shepardson WASHINGTON (Reuters) -The chair and top Democrat on the House select committee on China will announce Tuesday they are launching a bipartisan working group to reduce China’s dominance of critical mineral supply chains. Representative John Moolenaar, the committee chair, and Raja Krishnamoorthi, the top Democrat, said the new working group will help…
(Reuters) -TWFG disclosed a nearly 27% jump in annual net profit on Monday, as the insurer revealed the paperwork for its initial public offering in the United States. The U.S. IPO market has seen an uptick in 2024, after a nearly two-year dry spell, as expectations of a soft landing for the economy encourage companies…
By Daniel Wiessner (Reuters) – A federal judge in Texas on Monday seemed likely to stop a Biden administration rule that would extend mandatory overtime pay to 4 million U.S. workers from taking effect, but was unsure whether he could block it nationwide or only in the Republican-led state. U.S. District Judge Sean Jordan in…
By Echo Wang (Reuters) -The S&P 500 and Nasdaq closed marginally lower on Friday, weighed down by a decline in Nvidia shares for a second straight day, which dragged down the technology sector. Technology was the biggest loser among the 11 major S&P 500 sectors, down 0.84%, weighed by Nvidia, while communication services led the…
By Stephen Culp NEW YORK (Reuters) -U.S. stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious U.S. Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings. Benchmark U.S. Treasury yields and the dollar eased back from multi-month highs, while gold backed down from its all-time high. All three major…
(Reuters) – Dell Technologies shares tumbled about 14% in premarket trading on Friday, as the PC and server maker expects sizeable AI investments to dent its quarterly profit. Dell is on track to lose more than $17 billion in market value, if premarket losses hold. The stock has more than doubled this year. Companies, including…
(Reuters) -OpenAI CEO Sam Altman told some shareholders that the company is considering changing its governance structure to a for-profit business that OpenAI’s nonprofit board doesn’t control, The Information reported on Friday. One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the…
(Reuters) – Nvidia’s 10-for-1 stock split aimed at luring retail investors has taken effect, sparking speculation over chances of the artificial intelligence bellwether’s inclusion in the blue-chip Dow index. The split, aimed at lowering per-share value to make it more affordable for employees and investors, increases the company’s outstanding shares without changing the stock’s valuation….
WASHINGTON (Reuters) – The U.S. Senate budget committee on Thursday launched a probe of 18 domestic oil producers about any efforts to illegally coordinate with the Organization of the Petroleum Exporting Countries on oil prices. Senator Sheldon Whitehouse, a Democrat and the chairman of the committee, said in a statement he seeks to understand whether…
By Jody Godoy (Reuters) – Alphabet’s Google must face trial on U.S. antitrust enforcers’ claim that the internet search juggernaut illegally dominates the online advertising technology market, a federal judge ruled on Friday. U.S. District Judge Leonie Brinkema in Alexandria, Virginia, denied Google’s motion during a hearing, according to court records. Google had argued for…
