By Johann M Cherian, Sukriti Gupta and Carolina Mandl (Reuters) -U.S. stocks tumbled on Tuesday after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve’s pace of monetary policy easing. Stocks gave up early gains after a Labor Department report showed…
Meta shelves fact-checking in policy reversal ahead of Trump administration
By Katie Paul, Supantha Mukherjee, Deborah Mary Sophia (Reuters) -Social media company Meta Platforms on Tuesday scrapped its U.S. fact-checking program and reduced curbs on discussions around contentious topics such as immigration and gender identity, bowing to criticism from conservatives as President-elect Donald Trump prepares to take office for a…
Argentina economy seen growing 4.5% in 2025, inflation cooling to double-digits
BUENOS AIRES (Reuters) -Argentina’s economy is seen expanding by 4.5% in 2025 while the country’s inflation rate is estimated to end this year at 25.9%, according to the average forecast of analysts surveyed by the central bank’s market expectations survey published on Tuesday. South America’s second-biggest economy has suffered a…
Nvidia CEO says company has plans for desktop chip designed with MediaTek
By Stephen Nellis (Reuters) -Nvidia Chief Executive Jensen Huang said on Tuesday that MediaTek will be able to sell the desktop central processor chip the two companies unveiled earlier this week and that Nvidia has undisclosed future plans for the chip. On Monday at CES 2025, Nvidia unveiled a desktop…
Republican Senator Mitch McConnell suffers minor injury in fall at U.S. Capitol
WASHINGTON (Reuters) -U.S. Senator Republican leader Mitch McConnell fell at the U.S. Capitol on Thursday, sustaining minor injuries, but was cleared to resume work, his office said in a statement. McConnell, 82, is due to step down as the party’s leader in the chamber next month, but plans to serve…
Alaska sees $1 billion jump in profit after merger with Hawaiian Airlines
By Rajesh Kumar Singh and Shivansh Tiwary (Reuters) -Alaska Air on Tuesday unveiled a plan to generate $1 billion in additional profits by 2027 by leveraging its acquisition of Hawaiian Airlines and booming demand for premium travel, sparking a rally in its shares. The Seattle, Washington-based carrier also raised its…
Brutal heat grips millions in southeast Texas who remain without power
(Reuters) – Millions of Americans in southeast Texas were facing brutally hot conditions on Tuesday without the relief of air conditioning after Tropical Storm Beryl knocked out power to a large portion of the region. Some 2.3 million homes and businesses were without electricity, according to Poweroutage.us, as temperatures were…
US economy no longer overheated, Fed’s Powell tells Congress
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The U.S. is “no longer an overheated economy” with a job market that has “cooled considerably” from its pandemic-era extremes and in many ways is back where it was before the health crisis, Fed Chair Jerome Powell said in remarks to Congress…
Columbia University cancels main graduation ceremony in wake of protests
By Julia Harte NEW YORK (Reuters) -Columbia University on Monday canceled its main graduation ceremony after weeks of pro-Palestinian protests roiled the Ivy League college’s campus, but it will still hold smaller, school-based events. “Holding a large commencement ceremony on our campus presented security concerns that unfortunately proved insurmountable,” said…
US banks report weaker loan demand, Fed survey says
(Reuters) – U.S. banks reported renewed weakening in demand for industrial loans and a decline in household demand for credit in the first quarter of the year, according to a Federal Reserve survey of senior loan officers published on Monday. Fed officials had the survey results in hand last week…