(Reuters) -U.S. President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports, including electric vehicle (EV) batteries, computer chips and medical products.
Following are reactions to the move.
ELISSA PIERCE, RESEARCH ASSOCIATE, WOOD MACKENZIE
"U.S. solar manufacturers are still relatively dependent on China for other module components, such as glass and wafers. While these products are also... (continue reading...)
(Reuters) - Citigroup's Titi Cole, a top executive in charge of implementing its sweeping restructuring plan, is leaving the bank, an internal memo seen by Reuters showed on Tuesday.
Cole, as the head of legacy franchises, executed the third largest U.S. lender's plan to simplify the firm by completing the sales of consumer banking businesses in nine non-core markets.
CEO Jane Fraser began a sweeping reorganization in September to... (continue reading...)
By Max A. Cherney
(Reuters) - Google parent Alphabet on Tuesday unveiled a product called Trillium in its artificial intelligence data center chip family that it says is nearly five times as fast as its prior version.
"Industry demand for (machine learning) computer has grown by a factor of 1 million in the last six years, roughly increasing 10-fold every year," Alphabet CEO Sundar Pichai said in a briefing call with reporters. "I think... (continue reading...)
Investing.com -- Main U.S. indexes edged higher Tuesday despite data that showed hotter than expected producer prices in April after Federal Reserve Chairman Jerome Powell gave an optimistic overview of the US economy during a panel discussion.
Here are some of the biggest U.S. stock movers today:
GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) stock both more than doubled as a rally in so-called meme stocks continued after... (continue reading...)
Federal Reserve Chairman Jerome Powell provided an optimistic overview of the US economy during a discussion at the Foreign Bankers' Association's Annual General Meeting in Amsterdam.
Powell highlighted the robust performance of the US economy, noting a particularly strong labor market and the good financial health of households.
According to Powell, consumer spending and business investment have maintained their strength, despite ongoing labor shortages across various... (continue reading...)
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