Business

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…

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…

By Iain Withers LONDON (Reuters) – BlackRock is gearing up to launch a bitcoin exchange-traded product in Europe within weeks, a source familiar with the matter told Reuters, amid growing demand for exposure to cryptocurrencies from both money managers and consumers. The product will likely be domiciled in Switzerland, the source added. The Wall Street giant has incorporated a Zurich-based company focused on digital assets – iShares Digital Assets AG – in recent months, according … Read more…

By Olivia Le Poidevin GENEVA (Reuters) -China has formally launched a dispute at the World Trade Organization (WTO) over tariffs imposed by U.S. President Donald Trump on Chinese goods, the Geneva-based body said on Wednesday. Trump on Saturday ordered tariffs on goods from Mexico, Canada and China, demanding they staunch the flow of fentanyl – and, in the case of Canada and Mexico illegal immigration. He later froze tariffs against the two North American countries … Read more…

By Waylon Cunningham (Reuters) – U.S. diner chain Waffle House has added a 50-cent surcharge for every egg in a customer’s order, the company said in a statement posted in its restaurants on Monday. The fee is temporary, the company said in a statement Tuesday, and is a response to a “dramatic increase in egg prices” caused by bird flu outbreaks. “While we hope these price fluctuations will be short-lived we cannot predict how long … Read more…

WASHINGTON (Reuters) – The U.S. State Department has approved the potential sale of Lockheed Martin and Northrop Grumman Corp’s defense systems to Egypt, the Pentagon’s Defense Security Cooperation Agency said on Tuesday. The State Department has approved the possible sale of Lockheed’s fast missile craft modernization estimated at $625 million and the potential sale of Northrop Grumman’s AN/TPS-78 Long Range Radar and related support estimated at $304 million, the agency said in two separate statements. … Read more…

(Reuters) – Palantir shares rallied over 18% in premarket trading after it forecast upbeat annual revenue fueled by strong demand for its software and data analytics services from businesses racing to adopt generative AI. Palantir, which provides services to governments such as software that visualizes army positions, is set to gain about $35 billion in market capitalization, at current share price levels of $99.31. “It’s yet another company to be riding the AI wave, benefiting … Read more…

By Michael Erman and Mariam Sunny (Reuters) -Merck said on Tuesday it would not ship its HPV vaccine Gardasil in China until at least the middle of this year due to weak discretionary spending, a move that dented its full-year forecast and sent shares tumbling 11% in early trading. Gardasil, which prevents cancers caused by the human papillomavirus (HPV), has been one of Merck’s top growth drivers aside from Keytruda, and much of its international … Read more…

By Manya Saini (Reuters) -PayPal’s shares fell nearly 10% on Tuesday, after the digital payments giant’s unbranded card processing business saw a sharp slowdown in growth and its operating margin shrank in the fourth quarter. Unbranded payments, which include transactions for other firms rather than PayPal itself, had traditionally been a low-margin business due to stiff competition but saw strong growth in recent years. Under CEO Alex Chriss, PayPal has embarked on an ambitious turnaround … Read more…