What the Trump tariffs could mean for America’s beloved pickup truck

By Nora Eckert, Kalea Hall and David Shepardson DETROIT (Reuters) – U.S. President Donald Trump’s 25% tariffs on Canada and Mexico have sent the U.S. auto industry scrambling to plan for the massive tax on some of America’s best-selling vehicles, including full-sized pickup trucks, while pinning their hopes on a potential deal in Washington. Hours after the tariffs went into effect, the White House threw the industry a lifeline, saying many North American-built vehicles would … Read more…

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Trudeau tells Trump that tariffs are ‘very dumb,’ says Canada striking back

By David Ljunggren and Promit Mukherjee OTTAWA (Reuters) – Prime Minister Justin Trudeau told U.S. President Donald Trump on Tuesday that his tariffs on Canadian imports were “a very dumb thing to do” and said Ottawa was striking back immediately at its closest ally. Trudeau, speaking hours after Trump launched a trade war against Mexico and Canada, announced immediate 25% tariffs on C$30 billion worth of U.S. imports. If need be, Canada will target another … Read more…

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Explainer-What is Elon Musk’s DOGE? How much money has it saved US taxpayers?

By Tim Reid WASHINGTON (Reuters) – U.S. President Donald Trump is expected to boast about his sweeping cuts to the federal bureaucracy during an address to a joint session of Congress on Tuesday night, with praise for tech billionaire Elon Musk’s so-called Department of Government Efficiency (DOGE). Trump has given Musk and his DOGE team extraordinary power. In just six weeks entire government agencies have been dismantled and tens of thousands of workers fired. Critics, … Read more…

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Amazon’s AWS forms new group focused on agentic AI

By Greg Bensinger (Reuters) -Amazon.com has formed a new group focused on agentic artificial intelligence to help users and customers automate more of their lives, according to an internal email viewed by Reuters on Tuesday. The new group will be led by AWS executive Swami Sivasubramanian, the email, from AWS CEO Matt Garman, said. “Agentic AI has the potential to be the next multi-billion business for AWS,” Garman wrote. Sivasubramanian, previously vice president of AI … Read more…

Trump’s NATO nominee pledges to strengthen alliance despite Russian pivot

By Patricia Zengerle and Daphne Psaledakis WASHINGTON (Reuters) – Donald Trump’s nominee to be U.S. ambassador to NATO, Matthew Whitaker, pledged on Tuesday to strengthen NATO and said the Republican president remains committed to the alliance. “If confirmed, I will work tirelessly to strengthen the alliance, ensure the security of the American people and uphold our nation’s role as the beacon of freedom and liberty,” Whitaker said at his confirmation hearing before the Senate Foreign … Read more…

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Bitcoin turns lower as optimism fades on Trump’s crypto reserve plan

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Bitcoin backpedaled on Monday after an early rise following U.S. President Donald Trump’s weekend proposal for a national strategic reserve of cryptocurrencies. Optimism on digital currency after Trump’s Sunday post on Truth Social turned to caution as market participants awaited more details about this crypto initiative. The world’s largest cryptocurrency, bitcoin, was up 1% from Friday’s levels at $87,235, but down 7.6% from its high during Sunday’s rally of … Read more…

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Wall Street hit by Trump tariffs on Canada and Mexico

(Reuters) -Wall Street’s main stock indexes tumbled late Monday to end sharply lower after President Donald Trump announced the start of 25% tariffs on Canada and Mexico. Trump said on Monday that there was no chance for Mexico or Canada to prevent 25% tariffs from taking effect on Tuesday. “They’re going to have to have a tariff. So what they have to do is build their car plants, frankly, and other things in the United … Read more…

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Exclusive-Nvidia and Broadcom testing chips on Intel manufacturing process, sources say

By Max A. Cherney and Fanny Potkin SAN FRANCISCO/SINGAPORE (Reuters) – Chip designers Nvidia and Broadcom are running manufacturing tests with Intel, two sources familiar with the matter told Reuters, demonstrating early confidence in the struggling company’s advanced production techniques. The two tests, which have not been reported previously, indicate the companies are moving closer to determining whether they will commit hundreds of millions of dollars’ worth of manufacturing contracts to Intel. The decision to … Read more…

Citigroup nearly shifted $6 billion to wealth account, Bloomberg reports

(Reuters) – Citigroup nearly transferred about $6 billion to a customer’s account in its wealth-management business by accident, Bloomberg News reported on Monday, citing people familiar with the matter. The near-error occurred after a staffer handling the transfer copied and pasted the account number into a field for the dollar figure, which was detected on the next business day, the report added. Citigroup did not immediately respond to a Reuters request for comment. The wealth … Read more…

Carlyle to ramp up pace of IPOs as it eyes up to $5 billion of exits in 2025

By Anirban Sen and Milana Vinn NEW YORK (Reuters) -Carlyle Group expects to take more of its portfolio companies public this year and will not shy away from large leveraged buyouts, betting on a rebound in U.S. dealmaking this year, its heads of private equity told Reuters. The Washington-based firm is expecting to sell $4 billion to $5 billion in assets this year either through IPOs or the sale of existing investments, roughly in line … Read more…