Under Trump, a unified Congress could push through tax and spending cuts

By David Morgan WASHINGTON (Reuters) – Donald Trump’s Republicans looked set on Wednesday to possibly win control of both chambers of Congress, giving them sweeping powers for the first time in eight years to ram through a broad agenda of tax and spending cuts, energy deregulation and border security controls. But it would also force them to confront the dilemma of pursuing a Trump policy plan that could undermine the party’s long-proclaimed goal of reining … Read more…

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Tesla investors lose bid for new US trial over Musk’s 2018 tweets

By Nate Raymond (Reuters) – A U.S. appeals court on Wednesday upheld a jury’s verdict clearing Tesla CEO Elon Musk and his company of liability over allegations they misled investors when the billionaire posted on social media in 2018 that he had “funding secured” to take the electric car company private. The San Francisco-based 9th U.S. Circuit Court of Appeals rejected arguments by lawyers for Tesla investors that the instructions jurors received on the law … Read more…

Shein, Temu gear up for 2026 UK trial over copyright and competition claims

LONDON (Reuters) – Online fast-fashion platforms Shein and Temu are gearing up for a 2026 trial at London’s High Court, with the rivals trading allegations of copyright infringement and anti-competitive behaviour in competing lawsuits. Shein sued Temu in Britain last year, accusing Whaleco UK Limited – whose ultimate parent is Temu’s owner PDD Holdings – of breach of copyright in relation to photos of some products available on the Temu platform. Temu hit back with … Read more…

DuPont raises annual profit forecast on strong AI-tech demand

By Seher Dareen -DuPont de Nemours raised its full-year profit forecast after topping third-quarter estimates on Tuesday, as the industrial materials maker rides a recovery in demand from semiconductor makers looking to tap a boom in AI technology. Shares of the company, which makes chemicals and other components that are widely used to manufacture chip circuits, were up more than 5% in early morning trade. “We are on a larger footprint in China than some … Read more…

Elf Beauty sales to rise as demand for mass market beauty products grow

By Ananya Mariam Rajesh (Reuters) – Elf Beauty is likely to report revenue growth of nearly 33% for the second quarter, bucking weak demand in the industry as its inexpensive cosmetics edged out competition. Expectations of strong sales from Elf are in stark contrast with legacy industry players such as Estee Lauder and L’Oreal that have reported declining sales, as consumers are shying away from buying pricey makeup and cosmetics in major markets including the … Read more…

Factbox-Ten counties to watch in Tuesday’s US presidential election

By Bo Erickson WASHINGTON (Reuters) – Seven battleground states — Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin — are expected to play a decisive role in Tuesday’s U.S. presidential election between Democrat Kamala Harris or Republican Donald Trump. Here are ten counties to watch in those states. Early results based on partial returns may not be predictive of the final vote tallies in the counties. MARICOPA COUNTY, ARIZONA Home to Phoenix, Maricopa County, … Read more…

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Bond investors minimize bets as US election overshadows Fed meeting

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Bond investors are keeping a defensive but neutral stance in managing portfolios ahead of this week’s Federal Reserve policy meeting, which is being eclipsed by the too-close-to-call U.S. presidential election. Investors widely expect the U.S. central bank’s policy-setting Federal Open Market Committee to cut its benchmark interest rate by 25 basis points to the 4.50%-4.75% range at the end of its two-day meeting on Thursday, which was delayed … Read more…

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Robot AI startup Physical Intelligence raises $400 million from Bezos, OpenAI

(Reuters) – Physical Intelligence, a startup that is developing foundational software for robots, said on Monday it has raised $400 million in early-stage funding from Amazon’s Jeff Bezos, OpenAI, venture capital firms Thrive Capital and Lux Capital. The new funds were raised at a $2 billion valuation, PitchBook data showed. Physical Intelligence is seeking to make a software that would work on any robot, eliminating the need to develop a software for each specific task. … Read more…

US CEOs fired more quickly over low stock prices this year, report says

By Svea Herbst-Bayliss NEW YORK (Reuters) – U.S. companies with lagging stock prices are now quicker to blame management and fire their top executive, but the process of finding a replacement has remained largely unchanged for the last decade, according to a report released on Monday. Over the last seven years, financial performance and most notably a company’s stock price have become a stronger predictor of a chief executive’s ability to hold onto the job, … Read more…

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VW cost cutting necessary after ‘decades of structural problems’, CEO tells paper

BERLIN (Reuters) – Volkswagen’s planned cost-cutting programme was unavoidable in order to remedy “decades of structural problems” at the German carmaker, CEO Oliver Blume said in an interview published on Sunday. “The weak market demand in Europe and significantly lower earnings from China reveal decades of structural problems at VW,” Blume told Sunday paper Bild am Sonntag. The head of Volkswagen’s works council said last Monday that the carmaker plans to shut at least three … Read more…