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Takeaways from AP’s report about cuts to government grants for nonprofits

President Donald Trump’s policies are poised to upend decades of partnerships the federal government has built with nonprofits to help people in their communities. Since the 1960s, presidential administrations from both parties have used taxpayer dollars to fund nonprofits to take on social problems and ...
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US exchanges set to reap windfall as market volatility fuels trading rush

By Pritam Biswas and Arasu Kannagi Basil (Reuters) -Major U.S. stock exchanges are expected to report higher second-quarter profits, driven by increased fee collection from record-breaking trading volumes as investors rushed to reposition portfolios hit by tariff-related volatility. Periods of heightened market volatility usually drive up ...
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High imports, soft summer demand weigh on US gasoline

By Nicole Jao and Shariq Khan NEW YORK (Reuters) -U.S. gasoline prices could fall below $3 a gallon this summer for the first time in over four years as a stretch of bad weather events dampens fuel demand and a jump in imports fills inventories. Gasoline ...
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Bank of England’s Bailey says rise in borrowing costs is not just a UK issue

LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Tuesday that a rise in British government borrowing costs was not out of line with increases in other countries. “We have seen steepening of yield curves going on now,” Bailey told lawmakers on parliament’s Treasury ...
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HP owed over $940 million by Mike Lynch’s estate, ex-business partner, UK court rules

LONDON (Reuters) -Hewlett Packard is owed more than 700 million pounds ($944 million) from the estate of the late Mike Lynch and his former business partner over its acquisition of their British software firm Autonomy, a judge at London’s High Court said on Tuesday. HP ...
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Exclusive-BYD to delay mass production at new Hungarian plant, make fewer EVs, sources say

(Reuters) -China’s BYD will delay mass production at its new electric vehicle factory in Hungary until 2026 and will run the plant at below capacity for at least the first two years, two sources familiar with the matter said. At the same time, China’s No. ...
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Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan

TOKYO (Reuters) -Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan, its trade and finance ministries said on Tuesday. The move follows a petition filed on May 12 by Nippon Steel and other domestic ...
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India-US interim trade deal prospects dim ahead of tariff deadline, sources say

By Manoj Kumar NEW DELHI (Reuters) -The prospects of an interim trade deal between India and the United States before Washington’s August 1 deadline have dimmed, as talks remain deadlocked over tariff cuts on key agricultural and dairy products, two Indian government sources said. U.S. President ...
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Russia’s top carmaker Avtovaz may shorten work week as sales slump

By Gleb Stolyarov and Alexander Marrow (Reuters) -Russia’s largest carmaker Avtovaz on Tuesday said it may shorten its working week to four from five days, a rare move from a major state-owned employer, as high interest rates and competition from China squeeze its sales. Avtovaz, ...
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BlackRock imposes restriction on use of company devices for China travel, Bloomberg News reports

(Reuters) -BlackRock has asked its staff visiting China for business trips to use temporary loaner phones and avoid using company laptops, Bloomberg News reported on Tuesday, citing an internal memo. The world’s largest asset manager told its staff that using company-issued employee devices, including ...
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Analysis-Industrial pruning won’t pull China out of deflation as quickly as last time

BEIJING (Reuters) -China’s hardened rhetoric against price wars among producers is raising expectations Beijing may be about to kick off industrial capacity cuts in a long-awaited, but challenging, campaign against deflation that carries risks to economic growth. Communist Party leaders pledged this month to ...
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Los Angeles Times to go public, owner Soon-Shiong says

(Reuters) -The Los Angeles Times newspaper plans to go public within the next year, its owner Patrick Soon-Shiong said in a television interview on Monday, in an effort to give the public ownership of the 143-year-old publication. “We’re literally going to take LA Times public ...
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