Tech sector supports European shares ahead of Fed rate outcome

By Sruthi Shankar and Shashwat Chauhan (Reuters) -European share indices closed up on Wednesday, boosted by technology stocks and French automaker Renault, though gains were capped on caution ahead of the Federal Reserve’s policy decision and outlook. The pan-European STOXX 600 closed 0.2% up, snapping a four-day losing streak, with technology outperforming, up 1.1%. French carmaker Renault rose 5.2%, leading gains on the STOXX 600, after sources told Reuters that Honda and Nissan were in … Read more…

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Explainer-What is a government shutdown and what is the debt ceiling?

By Andy Sullivan WASHINGTON – Large swaths of the U.S. government could temporarily close at midnight on Friday if Congress does not approve a stopgap spending bill due to pressure from Donald Trump. The president-elect is also urging lawmakers to approve more government borrowing by addressing the nation’s debt ceiling before he takes office on Jan. 20. WHY WOULD THE GOVERNMENT SHUT DOWN? Congress is supposed to allocate funding to 438 government agencies before Oct. … Read more…

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Biden confirms that he will ‘of course’ attend Trump’s inauguration

WASHINGTON (Reuters) – U.S. President Joe Biden said he would “of course” attend Donald Trump’s presidential inauguration next month, personally confirming his presence and rejecting what he called the Republican’s “childish game.” “Of course I am,” Biden said in an interview broadcast on Thursday on the Meidas Touch network, when asked if he was planning to attend the Jan. 20 transfer of power. “The only president ever to avoid an inauguration is the guy that’s … Read more…

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Canadian PM Trudeau has full support of cabinet, new finance minister says

By David Ljunggren OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau, who is mulling his future amid a major political crisis, has the full support of his cabinet to stay on, new Finance Minister Dominic LeBlanc said on Thursday. Trudeau’s minority Liberal government was plunged into crisis this week after Chrystia Freeland, the previous finance minister, resigned amid a policy clash over spending and wrote a letter condemning his governing style. Around 15 Liberal legislators are … Read more…

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US finalizes $406 million chips subsidy for Taiwan’s GlobalWafers​

By David Shepardson WASHINGTON (Reuters) -The U.S. Commerce Department said on Tuesday it has finalized $406 million in government grants to Taiwan’s GlobalWafers to significantly increase production of silicon wafers in the United States. The funds for projects in Texas and Missouri will establish the first high-volume U.S. production of 300-mm wafers for advanced semiconductors and expand production of silicon-on-insulator wafers, the Commerce Department said. The wafers are a crucial component of advanced semiconductors and … Read more…

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Half US at high risk of power shortfall in next decade, regulator says

NEW YORK (Reuters) – About half of the United States is at increased risk of power supply shortfalls in the next decade that could lead to outages and electricity conservation measures, the North American Electric Reliability Corporation said on Tuesday. As U.S. power consumption rises from AI data centers and the electrification of buildings and transportation, efforts to add electricity generation have fallen short, creating an intensifying supply-demand imbalance, NERC said in its annual Long-Term … Read more…

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Uber and its CEO donate $1 million each to Trump’s inaugural fund

(Reuters) -Uber Technologies and its CEO Dara Khosrowshahi each donated $1 million to U.S. President-elect Donald Trump’s inaugural fund, a company spokesperson told Reuters on Tuesday. The ride-hailing firm joins a list of several large businesses that have sought to build a positive relationship with the incoming Trump administration after he won the election in November. The donations by Uber and Khosrowshahi were first reported by The Wall Street Journal earlier in the day. Amazon.com … Read more…

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AI startup Databricks hits $62 billion valuation in record VC round

By Krystal Hu and Niket Nishant (Reuters) – Databricks has secured a $62 billion valuation after raising a whopping $10 billion in one of the largest venture capital funding rounds in history, underscoring the unprecedented appetite for fast-growing private companies that have seen accelerated growth due to AI. The oversubscribed round, led by Joshua Kushner’s Thrive Capital, drew commitments from elite investors including Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management, confirming … Read more…

New York Mayor Eric Adams loses bid to dismiss a bribery charge

By Luc Cohen NEW YORK (Reuters) – New York Mayor Eric Adams lost a bid to narrow his five-count federal corruption indictment as a judge declined on Tuesday to dismiss a bribery charge related to luxury travel benefits provided by a Turkish official, with the trial set for April. U.S. District Judge Dale Ho denied a motion by lawyers for the Democratic mayor to dismiss the bribery charge. The defense had cited a June U.S. … Read more…

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In polarized America, 41% of Americans have favorable view of Trump, Reuters/Ipsos poll finds

By Jason Lange WASHINGTON (Reuters) – About two in five Americans view U.S. President-elect Donald Trump favorably, fewer than when the Republican was on the cusp of his first presidential term, a new Reuters/Ipsos poll showed. Some 41% of respondents in the three-day poll, which closed on Sunday, said they viewed Trump favorably, while 55% viewed him unfavorably as his Jan. 20 inauguration approached. That was down from Trump’s 51% favorability rating in December 2016 … Read more…

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