By Kalea Hall DETROIT, Aug 11 (Reuters) – General Motors said it has entered an agreement with a third-party inventory management company to ensure access to future supply of critical parts. The automaker said in a Tuesday regulatory filing that it has set up a $4.5 billion purchasing facility, unde
Aug 11 (Reuters) – Spotify said on Tuesday it would begin adding “AI Persona” badges to some profiles from mid-September to give listeners more transparency about whether the artist behind the music was a real person. Listeners have expressed concerns about artist profiles that appear human but inst
By Gwladys Fouche ARENDAL, Norway, Aug 11 (Reuters) – Norway’s $2.3 trillion wealth fund, the world’s largest, held a 0.05% stake in SpaceX worth $1.22 billion as of June 30, it said for the first time on Tuesday, in an updated list of holdings. The fund’s stake in SpaceX is modest when compared aga
NEW YORK (AP) — Government lawyers said a Court of International Trade judge overstepped his authority by ordering the U.S. Customs and Border Patrol to issue refunds to all companies that paid tariffs that were deemed illegal in February, even those that didn’t file a lawsuit in trade court. The go
CHICAGO (AP) — Toyota is recalling about 655,000 of its Camry vehicles globally, the automaker confirmed Tuesday, due to a display error that may deactivate safety indicators like turn signals and hazard lights during startup. Most of the now-recalled cars were sold in the U.S. — where more than 508
By Ann Saphir Aug 11 (Reuters) – Federal Reserve Bank of Chicago President Austan Goolsbee is more concerned about too-high inflation than about any labor market weakness, though it is not clear if that worry translated into support for the interest-rate hike that a few of his colleagues wanted last
TOKYO, Aug 12 (Reuters) – Former Toyota Motor Corp Chairman Hiroshi Okuda, who has died aged 93 according to Kyodo News, was a rare outsider at the top of a firm more often run by a founding-family member, who massively grew the automaker’s presence overseas and cemented its global status. The cause
By Howard Schneider WASHINGTON, Aug 11 (Reuters) – Atlanta Fed interim President Cheryl Venable said on Tuesday that inflation remains too high, a message heard from contacts across the Southeast, with the likelihood of easing price pressures tied to “unpredictable geopolitical events, particularly
BEIJING, Aug 11 (Reuters) – AI startup Manus said on Tuesday it will resume operating as an independent company and some user data will be deleted as part of its separation from U.S. tech giant Meta. • “As part of our transition back to independent operations and to comply with regulatory requiremen
WASHINGTON (AP) — Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective homebuyers. Existing home sales fell 1.7% last month from June to a seasonally adjusted annual rate of 4.
By Howard Schneider WASHINGTON, Aug 11 (Reuters) – U.S. consumers took out a record amount in auto loans in the second quarter and boosted their credit card and home equity balances as well, the New York Fed said in its latest household debt and credit report on Tuesday. Though overall consumer debt
SEATTLE, Aug 11 (Reuters) – Boeing said Tuesday that it delivered 53 jets in July, five more than a year earlier, but a sharp drop from the 64 jets it handed over in June. The U.S. planemaker trailed European rival Airbus, which delivered 67 planes in July. Boeing also booked 30 new orders after adj
By Lucia Mutikani WASHINGTON, Aug 11 (Reuters) – U.S. existing home sales fell for a second straight month in July as higher mortgage rates and house prices because of tight supply pushed out potential buyers from the market. Mortgage rates have risen amid the Middle East conflict, which raised oil
Aug 11 (Reuters) – Bumble on Tuesday said it would now allow either person in a match to send the first message, dropping the women-first messaging rule that has been a defining feature of the dating app since its launch in 2014. The move comes as dating-app companies grapple with user fatigue towar
Aug 11 (Reuters) – The S&P 500 and the Nasdaq opened higher on Tuesday as investors welcomed a report suggesting the U.S and Iran were close to “some sort of an arrangement” to end six months of conflict. The Dow Jones Industrial Average fell 14.4 points, or 0.03%, at the open to 53,961.6. The S&P 5
Aug 11 (Reuters) – Trading platform eToro beat Wall Street estimates for second-quarter profit on Tuesday and said it would buy rival TradeZero in a cash-and-stock deal worth up to $231 million, as it looks to accelerate its expansion in the U.S. Markets continued to remain volatile during the repor
Aug 11 (Reuters) – IBM and startup Together AI have signed a $240 million multi-year agreement to build a large-scale artificial intelligence cluster on IBM Cloud using Nvidia systems, the companies said on Tuesday. The cluster will provide inference for open-source AI models, which have gained trac
Aug 11 (Reuters) – Phillips 66, Kinder Morgan and HF Sinclair said on Tuesday they have decided to proceed with the proposed $5 billion Western Gateway Pipeline system and finalized a joint venture agreement for the same. Phillips 66 will own 49.9% of the venture, Kinder Morgan 35.1% and HF Sinclair
By Kamal Choudhury Aug 11 (Reuters) – Hims & Hers Health’s shares fell over 2% in morning trading on Tuesday, as concerns over shrinking profit margins overshadowed strong subscriber growth and a raised annual revenue forecast. The company reported second-quarter revenue on Monday that topped expect
WASHINGTON, Aug 11 (Reuters) – U.S. small-business sentiment increased to an 11-month high in July amid a surge in the share of owners reporting plans to boost hiring, suggesting that last month’s slump in nonfarm payrolls was probably temporary. The National Federation of Independent Business said
Aug 11 (Reuters) – Smithfield Foods cut its annual total sales and adjusted operating profit forecasts on Tuesday, citing ongoing challenges including cautious consumer spending and higher input costs. Shares of the company were down 3% in premarket trading. Inflation slowed more than expected in Ju
PARIS (AP) — France has banned unsolicited telemarketing calls under a new law aimed at protecting consumers from intrusive sales pitches and shielding vulnerable people from fraudulent commercial practices. The law backed by President Emmanuel Macron’s government entered into force Tuesday. While s
Aug 11 (Reuters) – Sportswear brand On missed Wall Street estimates for second-quarter net sales on Tuesday, sending its shares down 15% premarket, as higher costs from U.S. tariffs and a tougher consumer environment weighed on demand. A tougher consumer environment is testing even high-growth sport
FRANKFURT, Aug 11 (Reuters) – Lufthansa and German pilots’ union Vereinigung Cockpit (VC) have agreed a framework aimed at resolving long-running labour disputes through arbitration and mediation, reducing the risk of further pilot strikes. • The agreement includes arbitration procedures covering Lu
Aug 11 (Reuters) – Toyota is recalling 508,354 vehicles in the U.S. as an instrument cluster that fails to display critical safety information increases the risk of a crash or injury, the National Highway Traffic Safety Administration said on Tuesday. Here are some details: • The recall includes cer
Wall Street is modestly lower in premarket trading and oil prices settled despite lingering uncertainty about when the Strait of Hormuz will reopen to the global flow of oil again. Futures for the S&P 500 ticked up 0.1% before the opening bell Tuesday, while futures for the Dow Jones Industrial Aver
Aug 11 (Reuters) – Flight-tracking service FlightAware is suing prediction markets giant Kalshi accusing the company of using its data and name to run “gambling markets on flight cancellations” without permission. • In July, Kalshi announced markets allowing customers to bet on flight-cancellation r
Aug 11 (Reuters) – Foreign investors sold Asian equities on a net basis for a ninth consecutive month in July, with heavy selling in Taiwan and South Korea as concerns over AI spending and chip demand weighed on the region’s technology-heavy markets. Regional tech exporters came under pressure last
NEW YORK (AP) — The president’s media company has tried its hand at a half-dozen new lines of business to lift its stock, but nothing has worked. Now it’s getting back to its roots. In a conference call with investors Monday, the company behind Truth Social said it will be unwinding much of its expa
WASHINGTON (AP) — President Donald Trump likes to say that he started his war with Iran after 50 years of economic pressure had failed to stop its nuclear weapons ambitions — but he’s now betting that another financial squeeze can bring an end to that war. The Trump administration is hoping that mon
