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CSX profit drops 27% as railroad shipments decline in the first quarter

OMAHA, Neb. (AP) — CSX railroad’s profit fell 27% in the first quarter as two major construction projects contributed to a decline in shipments. The Jacksonville, Florida-based railroad said it earned $646 million net income, or 34 cents per share, during the quarter. That’s down ...
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Meta CEO Mark Zuckerberg wraps up testimony in antitrust case

WASHINGTON (AP) — Meta CEO Mark Zuckerberg emphasized in federal court on Wednesday that he bought Instagram and WhatsApp because he saw value in the companies — not to take out competitors, as the Federal Trade Commission alleges in a historic antitrust trial. Zuckerberg took ...
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Egypt’s revenue from the Suez Canal plunged sharply in 2024

CAIRO (AP) — Egypt’s revenue from the Suez Canal plunged by almost two thirds last year, officials said Wednesday, attributing the sharp drop to regional tensions and wars in the Middle East that have impacted traffic through the key waterway. The canal is a major ...
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US-China trade fight slams stocks, sends gold to record high

By Lawrence Delevingne and Harry Robertson BOSTON/LONDON (Reuters) -Global shares fell sharply on Wednesday as U.S. restrictions on chip sales to China and continued tariff uncertainty battered tech stocks, while gold traded at record highs and support for the dollar continued to erode.  Washington issued new ...
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Trading Day: When the chips are down

By Jamie McGeever ORLANDO, Florida (Reuters) – TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  Tariffied once again The respite was too good to last, and sure enough, it didn’t. World stocks fell into a downward spiral on ...
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Foreign holdings of US Treasuries rise in February

By Alden Bentley (Reuters) -Foreign holdings of U.S. Treasuries rose 3.4% in February, data from the Treasury Department showed on Wednesday, with the two largest owners, Japan and China, building up their U.S. debt holdings. Total overseas holdings of U.S. Treasuries amounted to $8.817 trillion, up ...
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Powell does not think Trump’s labor board firings case will apply to Fed

By Howard Schneider CHICAGO (Reuters) – The legal case before the Supreme Court over President Donald Trump’s firing of two Democrats from federal labor boards does not likely apply to the Federal Reserve, the head of the U.S. central bank said ...
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Argentine peso recoups lost ground after FX control ease, Milei rules out intervention

BUENOS AIRES (Reuters) – Argentina’s peso closed 6.6% higher on Wednesday, regaining ground lost after the currency tumbled on a lifting of capital controls earlier in the week. The currency closed the week, shortened due to the Easter holiday, at 1,125 ...
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Tech stocks slide on US-China trade fight, gold hits record

BOSTON/LONDON (Reuters) – Global shares fell on Wednesday as U.S. restrictions on chip sales to China and continued tariff uncertainty battered tech stocks, while gold traded at record highs and the dollar languished. Washington issued new export licensing requirements for sales to China of Nvidia’s ...
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Ford Motor may hike prices in May if Trump’s auto tariffs persist, Automotive News reports

(Reuters) – Ford Motor may raise prices of its new vehicles in May if U.S. President Donald Trump’s auto tariffs are not eased, Automotive News reported on Wednesday, citing a memo to dealers. Both U.S. and foreign automakers have rushed to ...
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Fed’s Powell says markets orderly, downplays intervention risk

By Michael S. Derby (Reuters) -Federal Reserve Chair Jerome Powell suggested on Wednesday that hopes the central bank will step in to tamp down on market volatility are likely misplaced. Asked if the Fed would intervene to counter sharp declines in the stock market, Powell ...
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OpenAI picks labor icon Dolores Huerta and other philanthropy advisers as it moves toward for-profit

OpenAI has named labor leader Dolores Huerta and three others to a temporary advisory board that will help guide the artificial intelligence company’s philanthropy as it attempts to shift itself into a for-profit business. Huerta, who turned 95 last week, formed the first farmworkers union ...
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