By Shariq Khan and Seher Dareen NEW YORK (Reuters) – U.S. refiners pumped out jet fuel last week at the fastest pace since the pandemic, government data showed, as they look to keep up with forecasts of record air travel this summer. U.S. refiners’ net production of jet fuel hit about 1.9 million barrels per day (bpd) last week, 8% higher than the same time last year and the highest weekly total since January 2020, … Read more…
(Justin Vaughn, Editor, Options Trading Report) Another week of gains for the indices as the Nasdaq hit another weekly high, up 3.2% with the S&P 500 following, up 1.6%, both reaching records almost daily. The Dow Jones Industrial Average struggled for the third week in a row, again losing 0.5% for the week. With labor adding 272,000 jobs for May and inflation beginning to flatline, the Fed appears to be standing pat holding interest rates … Read more…
By Carlos Vargas BOGOTA (Reuters) – Plenaries in Colombia’s lower house and Senate on Thursday both approved a request from the leftist government of President Gustavo Petro to increase the debt ceiling to $17.6 billion to finance its development plans and comply with payment terms. The vote comes amid warnings from analysts about the state of the Andean country’s fiscal needs and after Petro said last month that Colombia could stop paying its debts or … Read more…
By Jeffrey Dastin (Reuters) – Anthropic, a startup backed by Google and Amazon.com, on Thursday released an updated artificial intelligence model and a new layout to boost user productivity, continuing an industry sprint to push technology’s frontier. Three months after rolling out its Claude 3 family of AI models, Anthropic said it was launching Claude 3.5 Sonnet. Compared with Claude 3 Opus – which CEO Dario Amodei in March called the “Rolls-Royce of models” – … Read more…
By David Shepardson WASHINGTON (Reuters) – TikTok and Chinese parent ByteDance on Thursday urged a U.S. court to strike down a law they say will ban the popular short app in the United States on Jan. 19, saying the U.S. government refused to engage in any serious settlement talks after 2022. Legislation signed in April by President Joe Biden gives ByteDance until Jan. 19 of next year to divest TikTok’s U.S. assets or face a … Read more…
(Reuters) – Oracle on Thursday said it will invest more than $1 billion over the next 10 years in artificial intelligence and cloud computing in Spain, as it looks to meet increasing demand for its services in the country. The investment will be used to set up a new cloud region that will allow customers to move workloads from their data centers to Oracle Cloud Infrastructure, while also helping them address regulations like the European … Read more…
By Simon Lewis WASHINGTON (Reuters) – Vietnam instructed its officials to withhold information from Washington to paint the country’s efforts to tackle human trafficking in a better light, a campaign group said on Thursday, as Vietnam seeks an upgrade in a key U.S. report. Rights group Project88 based its accusation on official Vietnamese documents it said it had obtained. Reuters reviewed translations of the documents provided by the group but was unable to independently confirm … Read more…
(Reuters) – Apple has suspended work on its next high-end Vision headset, the Information reported on Tuesday, citing an employee at a manufacturer that makes key components for the Vision Pro. The iPhone maker is still working on releasing a more affordable Vision product with fewer features before the end of next year, the report said, citing a person involved in its supply chain and one person in the manufacturing of the headsets. Apple did … Read more…
By Jonathan Stempel (Reuters) – A U.S. judge said Tesla vehicle owners can pursue a proposed class action accusing billionaire Elon Musk’s electric car company of monopolizing markets for repairs and parts, breathing new life into a lawsuit she dismissed last November. U.S. District Judge Trina Thompson in San Francisco ruled on Monday that owners could try to prove that Tesla coerced them into paying high prices and suffering long waits to have their vehicles … Read more…
By Fabian Cambero and Daina Beth Solomon SANTIAGO (Reuters) – More than 50 companies have expressed interest in developing lithium projects in Chile, Finance Minister Mario Marcel said on Tuesday, after the government called for proposals for a range of salt flats containing the battery metal. Chile, the world’s largest copper producer, called for proposals in April to develop lithium projects in more than two dozen salt flats that have yet to be fully explored, … Read more…