By David Shepardson WASHINGTON (Reuters) – The U.S. Commerce Department said Tuesday it was finalizing a $7.86 billion government subsidy for Intel (NASDAQ:INTC) , down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon. The award will support nearly $90 billion in manufacturing projects…
MOSCOW (Reuters) – The Russian rouble continued to slide, dropping to its lowest since March 2022 against both the dollar and the yuan, and the finance minister indicated the government did not object to the currency’s weakness, an advantage for exporters. The rouble hit 14.5 against China’s yuan for the first time since March 2022….
Investing.com — President-elect Donald Trump announced on Friday that he will nominate Scott Bessent, a prominent investor, as the next US Treasury secretary. The decision concludes a week of speculation and competition among high-profile candidates vying for the influential role, which oversees economic policy, regulation, and international financial relations. Wall Street had been closely monitoring…
By David Shepardson WASHINGTON (Reuters) – A U.S. Senate panel on Tuesday criticized rising airline fees for seat assignments and luggage and will call air carrier executives to testify on Dec. 4. Senator Richard Blumenthal, who chairs the Permanent Subcommittee on Investigations, will convene a hearing titled “The Sky’s the Limit — New Revelations About…
By Rumman Chowdhury Business Nov 26, 2024 4:00 AM We Need a New Right to Repair for Artificial Intelligence A growing movement to allow access to algorithmic workings won’t stop the ubiquitous spread of artificial intelligence, but it could restore public confidence in it. Illustration: Carmen Casado There’s a growing trend of people and organizations…
By Andrea Mandala and Valentina Za MILAN (Reuters) – Banco BPM gathers its board on Tuesday for an initial discussion on the 10 billion euro ($10.5 billion) unsolicited takeover offer that rival UniCredit has launched for Italy’s third-largest bank. Monday’s move upset Italy’s Treasury which had been hoping BPM would merge with bailed-out Monte dei…
Investing.com — European markets opened lower on Tuesday as investors weighed the global ramifications of U.S. President-elect Donald Trump’s proposed tariff measures. These include a 10% tariff on Chinese imports and a 25% tariff on goods from Mexico and Canada, sparking fears of disrupted trade flows and inflationary pressures. At 03:18 ET (0818 GMT), Germany’s…
By Nandita Bose and Heather Timmons WASHINGTON/STATEN ISLAND, New York (Reuters) -U.S. President Joe Biden pardoned Peach and Blossom, two white-plumed turkeys, on Monday, sparing them from Thanksgiving dinner tables, an annual tradition that also marked the start of the Democrat’s last holiday season at the White House. This year’s turkeys are named after the…
MILAN (Reuters) – UniCredit’s surprise bid for Italy’s Banco BPM is hostile, a board member of the smaller lender told Italian newswire ANSA on Tuesday. He was speaking ahead of a Banco BPM board meeting for an initial discussion on the 10 billion euro ($10.5 billion) takeover bid launched on Monday by Italy’s second-largest bank….
ISTANBUL (Reuters) – Turkey’s economy is expected to have expanded 2.6% in the third quarter due to slower domestic demand and the weight of tighter economic policies, a Reuters poll showed on Tuesday, with the rate seen cooling to 3% for the year as a whole. The economy grew 5.3% in the first quarter of…
