Juniper Networks denies allegations in US DOJ lawsuit to block $14 billion merger with HPE

(Reuters) – Juniper Networks denied the allegations by the U.S. Department of Justice, after the agency sued to block Hewlett Packard Enterprise’s $14 billion all-cash takeover of the networking gear maker, according to a court filing. Last month, the DOJ argued in its complaint that the proposed deal would stifle competition and lead to Cisco Systems and HPE controlling more than 70% of the U.S. market for networking equipment. The complaint does not correctly represent … Read more…

Powell says he does not believe Musk or his team have tried to access Fed systems

(Reuters) – Federal Reserve Chair Jerome Powell on Tuesday said he did not believe that Elon Musk or members of his Department of Government Efficiency team have tried to access the Fed’s secure payment systems. “Will you commit to report to this committee, majority and minority, immediately should you become aware of any such attempt by Elon Musk or DOGE to pierce the Fed’s independence or to access its protected systems?” Powell was asked by … Read more…

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Order blocking Musk’s DOGE from Treasury systems doesn’t apply to Bessent, judge says

By Luc Cohen NEW YORK (Reuters) -A U.S. judge clarified on Tuesday that an order restricting billionaire Elon Musk’s government cost-cutting effort from accessing the Treasury Department’s payment systems does not apply to Treasury Secretary Scott Bessent. U.S. District Judge Paul Engelmayer on Saturday temporarily blocked Musk’s so-called Department of Government Efficiency’s access to the government systems used to process trillions of dollars in payments, granting a win to a coalition of Democratic attorneys general … Read more…

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Trump to order US agencies to plan for ‘large scale’ staff cuts

WASHINGTON (Reuters) – U.S. President Donald Trump plans to direct federal agencies to coordinate with Elon Musk’s task force to shrink the workforce and limit hiring with an exception to immigration and other safety positions, a White House official said on Tuesday. The executive order, which is expected to be signed on Tuesday, would set rules allowing government agencies to hire no more than one employee for every four workers who leave the federal workforce, … Read more…

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AI chip startup Groq secures $1.5 billion commitment from Saudi Arabia

By Stephen Nellis (Reuters) -U.S. semiconductor startup Groq said on Monday it has secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced AI chips to the country. The Silicon Valley firm, founded by a former Alphabet AI chip engineer, is known for producing AI inference chips that optimize speed and execute commands of pre-trained models. The startup has an existing agreement with Aramco Digital, the technology subsidiary of oil … Read more…

Bond traders waver as Trump questions US government debt figures

By Davide Barbuscia NEW YORK (Reuters) – Bond investors were thrown off balance on Monday by U.S. President Donald Trump’s weekend remarks on investigating Treasury debt payments for fraud, with some hoping they signaled a future pullback in debt issuance. Speaking to reporters aboard Air Force One, Trump said officials reviewing wasteful spending had shifted their focus to the U.S. debt payments and suggested that the country’s $36 trillion debt load might not be that … Read more…

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Musk-led group makes $97.4 billion bid for control of OpenAI

By Arsheeya Bajwa, Anna Tong and Krystal Hu (Reuters) – A consortium led by Elon Musk said on Monday it has offered $97.4 billion to buy the nonprofit that controls OpenAI, another salvo in the billionaire’s fight to block the artificial intelligence startup from transitioning to a for-profit firm. Musk’s bid is likely to ratchet up longstanding tensions with OpenAI CEO Sam Altman over the future of the ChatGPT maker at the heart of a … Read more…

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Gold bulls lock in on glittering milestone; $3,000/oz in sight

By Ashitha Shivaprasad and Daksh Grover (Reuters) – U.S. President Donald Trump’s latest tariff threats have ignited another gold rush, propelling the safe-haven metal to new heights and bringing the glittering $3,000 milestone into view. Spot gold climbed to a record $2,911.30 a troy ounce on Monday – its seventh record peak to date in 2025. Prices are already up nearly 11% so far this year after a staggering 27% gain in 2024. Trump said … Read more…

Trump to announce 25% steel and aluminium tariffs in latest trade salvo

By Jeff Mason ABOARD AIR FORCE ONE/SEOUL/FRANKFURT (Reuters) – President Donald Trump is expected to introduce new 25% tariffs on Monday on all steel and aluminium imports into the U.S., on top of existing metals duties, in another major escalation of his shake-up of trade policy. As the risk mounts of a multi-front trade war, the European Union flagged it may retaliate and Trump promised further announcements on Tuesday or Wednesday of broader reciprocal tariffs … Read more…

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Elliott builds $1.5 billion stake in Aspen, opposes Emerson deal

(Reuters) -Activist investor Elliott Management said on Friday it has invested more than $1.5 billion in Aspen Technology, opposing the company’s decision to accept Emerson Electric’s $7.2 billion tender offer. Elliott argues that Emerson’s per-share offer of $265 for Aspen undervalues the company, adding that it will not tender its shares at the current price. Aspen’s shares rose about 3%, while those of Emerson fell 2%. Emerson, which currently owns 57% of Aspen, agreed to … Read more…

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