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Trump criticizes Ukraine aid, talks tax cuts and tariffs with Republicans

By David Morgan and Andy Sullivan WASHINGTON (Reuters) -Donald Trump on Thursday criticized U.S. aid to Ukraine, urged Republican lawmakers to cut taxes on gratuities and talked up tariffs in a visit to Capitol Hill, participants said, as he sought to build party unity ahead of the Nov. 5 election. In a closed-door meeting, Trump said he would work to expand the party’s narrow 218-213 House of Representatives majority and help re-elect even the two … Read more…

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US job market resembling pre-pandemic environment, Yellen says

(Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said the U.S. employment picture increasingly resembles the job market that existed prior to the COVID-19 pandemic, and slowing wage growth is not a threat to add to inflation. “The labor market has become a little less hot, a little bit more normal. The number of job openings has declined some. We’ve had a burst in labor force participation,” Yellen said in an interview with CNBC. … Read more…

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Broadcom soars as demand for AI chips power forecast raise

By Arsheeya Bajwa (Reuters) – Broadcom surged more than 13% on Thursday as its upbeat annual forecast highlighted an insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. The rising adoption of generative AI has been driving demand for companies such as Broadcom that provide chips and networking tools to support these intensive applications. Broadcom, whose shares have risen 76% in the past 12 … Read more…

Musk says Tesla shareholders voting in favor of his $56 billion pay package

By Hyunjoo Jin, Abinaya V and Greg Roumeliotis (Reuters) -Tesla shareholders were set to approve Elon Musk’s $56 billion pay package in what is being seen as a thumbs-up to his leadership – and an enticement for keeping his focus on the electric vehicle maker. Musk posted a chart on his social media platform X late Wednesday that showed the resolution – and another vote to move the company’s legal home to Texas – were … Read more…

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What to watch for in the Biden-Trump presidential debate

By James Oliphant (Reuters) – The two oldest candidates ever to run for U.S. president meet on June 27 for a televised debate unlike any other. One accuses his rival of being unhinged and a danger to democracy, while the other accuses his opponent of being senile and corrupt. President Joe Biden, 81, and former President Donald Trump, who turns 78 on Friday, are essentially tied in national opinion polls with fewer than five months … Read more…

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Tesla reported to police in Sweden over alleged illegal electrical work

COPENHAGEN (Reuters) – U.S. electric vehicle manufacturer Tesla has been reported to police in Sweden accused of performing electrical installation work without the necessary registration, the Swedish Electricians’ Union said on Wednesday. There are already tense relations between Tesla and unions in Sweden, where the company has faced prolonged industrial action and its mechanics have been on strike since Oct. 27. Tesla was not immediately available for comment when contacted by Reuters. “There is evidence … Read more…

Citron Research closes GameStop short position

By Pranav Kashyap and Medha Singh (Reuters) – Citron Research no longer has a short position in retail traders’ favorite GameStop, the short seller said on X.com on Wednesday, days after taking a bearish position in the company. “It’s not because we believe in a turnaround for the company fundamentals will ever happen, but with $4 billion in the bank, they have enough runway to appease their cult like shareholders,” Citron said in the tweet. … Read more…

Apple overtakes Microsoft to return as world’s most valuable company

(Reuters) -Apple once again became the world’s most valuable company on Wednesday, dethroning Microsoft from the top spot, as the iPhone maker pushed ahead in a race to dominate artificial intelligence technology. Its shares rose more than 2% to $211.75, giving it a market valuation of $3.25 trillion. Microsoft’s market capitalization stood at $3.24 trillion, falling behind Apple for the first time in five months. Apple shares had surged to an all-time high in the … Read more…

Paramount special committee meets to vote on Skydance deal, Bloomberg News reports

(Reuters) -A special committee of the board of Paramount Global is meeting on Tuesday to vote on whether to accept a proposal to merge with David Ellison’s Skydance Media, Bloomberg News reported, citing two people familiar with the matter. The offer would see Shari Redstone sell her family’s controlling stake in Paramount to Ellison for $2.25 billion, according to the report. One of the five special committee members had been objecting to the proposed offer, … Read more…

Ukraine seeks help to shield and rebuild shattered cities

By Andreas Rinke and Olena Harmash BERLIN (Reuters) -Ukraine and its allies drummed up support to protect Ukrainian cities from Russian missiles at a conference in Berlin on Tuesday and urged international businesses to put their faith, and billions of dollars, into post-war reconstruction. Kyiv hopes the recovery conference will cement its credentials as a future member of the European Union worthy of huge injections of reconstruction financing – even as Russian forces continue to … Read more…

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