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Trade group wants to ban export of scrap aluminum cans to China

By David Shepardson WASHINGTON (Reuters) -A trade group representing the aluminum industry called on Tuesday for a ban on U.S. exports of used beverage cans to China to support American production of cars, fighter jets, tanks and satellites. The Aluminum Association said the United States consumes ...
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Fed’s Collins still favors additional rate cuts to aid job market

By Michael S. Derby (Reuters) -Federal Reserve Bank of Boston President Susan Collins reiterated Tuesday that rising risks to the job market support additional central bank interest rate cuts in what remains an uncertain economic environment. “With inflation risks somewhat more contained, but greater downside risks ...
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Fed’s Powell says economy may be on firmer footing, but job market weak

PHILADELPHIA (Reuters) -The U.S. labor market remained mired in its low-hiring, low-firing doldrums through September, though the economy “may be on a somewhat firmer trajectory than expected,” Federal Reserve Chair Jerome Powell said on Tuesday, noting that policymakers will take a “meeting-by-meeting” approach to ...
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Wall Street’s fear gauge climbs as US-China trade fears rise

By Saqib Iqbal Ahmed NEW YORK (Reuters) -Wall Street’s most watched gauge of investor anxiety rose to a near five-month high before paring gains on Tuesday as U.S. stocks whipsawed on renewed concerns over a U.S.-China trade conflict. The Cboe Volatility Index – an options-based indicator ...
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Wall Street mixed, banks rally on upbeat results

By Sukriti Gupta and Noel Randewich (Reuters) -Wall Street indexes were mixed on Tuesday as investors digested mostly positive quarterly results from big U.S. banks, comments from Federal Reserve Chair Jerome Powell and an ongoing U.S.-China trade war. A slew of major lenders reported solid results ...
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OpenAI partners with Walmart to let users buy products in ChatGPT, furthering chatbot shopping push

NEW YORK (AP) — OpenAI is partnering with Walmart to let shoppers make purchases directly within ChatGPT, furthering the artificial intelligence company’s push to turn its chatbot into a virtual merchant as it seeks to boost revenue. In an Tuesday announcement, Walmart said the new ...
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Fed’s Powell says the end of balance sheet drawdown process may be nearing

By Michael S. Derby (Reuters) -Federal Reserve Chair Jerome Powell said on Tuesday the end of the central bank’s long-running effort to shrink the size of its holdings, widely known as quantitative tightening, or QT, may be coming into view. Given the central bank’s long-running goal ...
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US tariffs on China on Nov 1 depend on Beijing’s actions, USTR Greer tells CNBC

By Andrea Shalal, David Lawder and Jasper Ward WASHINGTON (Reuters) -U.S. Trade Representative Jamieson Greer on Tuesday said it depended on China whether additional 100% tariffs on its exports to the United States kick in on November 1 or sooner, but acknowledged it might be ...
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As new tariffs take effect, US consumers footing more than half the burden: Report

(NEW YORK) -- With new tariffs taking effect Tuesday on furniture and lumber, an analysis released by Goldman Sachs finds American consumers are paying for more than half of the cost of the levies imposed by President Donald Trump.In a research note to its ...
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First Brands, Tricolor collapses invite more scrutiny, but Wall Street sees robust credit quality

By Nupur Anand, Tatiana Bautzer and Manya Saini NEW YORK (Reuters) -The bankruptcies of U.S. auto parts supplier First Brands and car dealership Tricolor have prompted soul searching on Wall Street, with JPMorgan Chase saying it re-examined its controls after finding itself exposed, although banks ...
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Swiss court rules $20 billion Credit Suisse bond write-off unlawful

By Dave Graham, John Revill and Oliver Hirt ZURICH (Reuters) -Writing off 16.5 billion Swiss francs ($20.53 billion) in Credit Suisse bonds was unlawful, a Swiss court ruled on Tuesday, boosting bondholders’ hopes of recouping losses and raising fresh questions about how authorities handled the ...
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Citigroup’s AI usage frees up 100,000 hours for developers a week

NEW YORK (Reuters) -Citigroup CEO Jane Fraser said the company’s use of artificial intelligence has saved time and allowed it to free up 100,000 hours of weekly capacity for software developers. Almost 180,000 of the bank’s employees in 83 countries have access to Citi’s ...
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