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Lithium miner SQM cuts 5% of Chile workforce as prices fail to bounce back

By Fabian Cambero and Daina Beth Solomon SANTIAGO (Reuters) -The world’s second-biggest lithium miner SQM has begun laying off 5% of its Chilean workforce as it contends with a protracted slump in global prices for the battery metal, according to a company source and a ...
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Jefferies profit misses estimate on weak equity underwriting; eyes rebound later in 2025

By Lananh Nguyen and Niket Nishant (Reuters) -Jefferies’ second-quarter profit fell short of estimates as equity underwriting weakness offset gains from merger advisory fees, but the investment bank said dealmaking could rebound later in 2025 as the economic outlook becomes clearer. Uncertainty due to U.S. ...
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Powell calls reports of lavish Fed building renovations inaccurate

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell on Wednesday pushed back against reports the central bank was spending money excessively on renovations, saying that the almost 90-year-old headquarters “was not really safe,” while acknowledging cost overruns. “The media reports … are ...
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Trump gets ‘golden share’ power in US Steel buyout. US agencies will get it under future presidents

HARRISBURG, Pa. (AP) — President Donald Trump will control the so-called “golden share” that’s part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange ...
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Regulator orders Fannie, Freddie to consider crypto holdings in loan assessments

By Hannah Lang (Reuters) -The regulator overseeing Fannie Mae and Freddie Mac on Wednesday ordered the housing giants to consider cryptocurrency as an asset for single-family mortgage loan risk assessments, a move that could potentially open the door to borrowers using crypto investments to qualify ...
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Exclusive-US allows ethane to be loaded and shipped to China, but not unloaded, letter says

By Karen Freifeld (Reuters) -The U.S. sent letters to Enterprise Products and Energy Transfer on Wednesday informing the companies they could load ethane on vessels destined for China but could not unload the ethane in China without authorization, according to a person familiar with the ...
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Nvidia hits record high as analyst predicts AI ‘Golden Wave’

By Noel Randewich (Reuters) -Nvidia’s stock hit a record high on Wednesday, and the chipmaker reclaimed the crown as the world’s most valuable company after an analyst said the chipmaker was set to ride a “Golden Wave” of artificial intelligence. Shares of the Santa Clara, California-based ...
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Bumble says it will cut 240 jobs, or about 30% of its global workforce

PHILADELPHIA (AP) — Online dating platform Bumble plans to lay off about 240 employees, or roughly 30% of its global workforce. In a securities filing, Bumble disclosed that its board approved the cuts this week as it “realigns its operating structure to optimize execution on ...
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Kroger plans to close 60 US stores in 18 months to improve profits

Kroger plans to close around 60 U.S. grocery stores over the next 18 months to improve efficiency. The Cincinnati, Ohio-based company announced the plan during a corporate earnings call last Friday. The company hasn’t said which stores it plans to shutter, but said the closures ...
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Bipartisan bill aims to block Chinese AI from federal agencies

WASHINGTON (AP) — Legislation introduced Wednesday in Congress would block Chinese artificial intelligence systems from federal agencies as a bipartisan group of lawmakers pledged to ensure that the United States would prevail against China in the global competition over AI. “We are in a new ...
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Europeans angry with Musk still aren’t buying his cars as Tesla sales drop for fifth month in a row

NEW YORK (AP) — Europeans still aren’t buying Teslas with figures out Wednesday showing sales plunged for a fifth month in a row in May, a blow to investors who had hoped anger toward Elon Musk would have faded by now. Tesla sales fell 28% ...
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Middle East conflict highlights how vastly the global energy supply has changed in recent years

WASHINGTON (AP) — Iran launched missiles at a U.S. military base in Qatar on Monday, threatening to stoke a wider conflict in the Middle East, a region that supplies the world with about a third of the oil used globally every year. That same ...
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