Business

US economy grows 1.6% in first quarter, recovering from federal shutdown, government says, downgrading first estimate

Thursday, May 28 by SRN News

WASHINGTON (AP) - U.S. economic growth slowed slightly in the first quarter, with real GDP rising at a 1.6 percent annual rate. The increase was driven by steady consumer spending and solid business investment, though weaker government spending and a drag from trade held... Read More.

US, Mexico launch formal trade talks, haggle over automotive content rules

Thursday, May 28 by SRN News

By David Lawder and Emily Green MEXICO CITY, May 28 (Reuters) - U.S. and Mexican negotiators begin formal talks to revamp the North American trade deal on Thursday, with Washington demanding stronger regional rules of origin including a U.S.-specific minimum level of content for cars... Read More.

IBM commits $5 billion to secure open-source software

Thursday, May 28 by SRN News

May 28 (Reuters) - IBM said on Thursday it has committed $5 billion to an initiative that will deploy engineers and AI tools to help companies better secure open source software. The initiative, called Project Lightwell, seeks to create a "clearinghouse" for open source security,... Read More.

CVS brings back coverage for Lilly’s obesity drug Zepbound

Thursday, May 28 by SRN News

May 28 (Reuters) - CVS Health will add Eli Lilly's weight-loss drug Zepbound back to some of its drug lists as an additional preferred option and also begin coverage for the drugmaker's newly approved obesity pill, Foundayo. CVS' Caremark, one of the largest pharmacy benefit... Read More.

US auto safety regulator opens probe into nearly 115,000 Rivian vehicles

Thursday, May 28 by SRN News

May 28 (Reuters) - The U.S. National Highway Traffic Safety Administration said on Thursday it has opened a preliminary probe into 114,922 Rivian vehicles over an issue with the rear toe link. The issue relates to the company's R1S and R1T electric vehicles. The agency's... Read More.

Humanoids dance and thread needles as Japanese robotics developers look to outdo Chinese

Thursday, May 28 by SRN News

TOKYO (AP) - Mechanical hands dexterous enough to thread a needle, childlike dancing robots and adult-sized ones to help with deliveries were on display Thursday as the Humanoids Summit Tokyo opened. Among the dozens of companies taking part, including well-known players like Boston Dynamics and... Read More.

Fertitta-owned firm to buy Caesars Entertainment in nearly $18 billion leisure push

Thursday, May 28 by SRN News

May 28 (Reuters) - Caesars Entertainment said on Thursday it will be bought out by Tilman Fertitta-owned firm in a $17.6 billion deal, as the hospitality billionaire looks to expand his leisure empire. The deal, which will take one of the Las Vegas Strip's most... Read More.

Caesars Entertainment, a Las Vegas Strip icon, is sold for $6 billion

Thursday, May 28 by SRN News

Caesars Entertainment is being acquired for almost $6 billion by Fertitta, the company that owns Las Vegas' Golden Nugget and chains like Rainforest Cafe and Morton's. Caesars became an iconic name after the opening of Caesar's Palace on the Las Vegas Strip in 1966.... Read More.

Chinese online retailer Temu hit with $232 million fine over unsafe toys and electronics

Thursday, May 28 by SRN News

LONDON (AP) - Temu was hit with a 200 million euro ($232 million) fine Thursday after a European Union investigation found the Chinese online retailer failed to protect consumers from illegal products like toxic or hazardous toys and unsafe electronics. The 27-nation EU's fine... Read More.

Dollar likely to weaken over long-term due to U.S. fiscal dynamics, JPMorgan Asset Management exec says

Thursday, May 28 by SRN News

LONDON, May 28 (Reuters) - The dollar will likely weaken over the long-term given concerns over elevated U.S. debt levels, the EMEA CEO of JPMorgan Asset Management said on Thursday. The dollar, the world's No.1 reserve currency, has risen roughly 1.8% since the start... Read More.

Current Weather

US economy grows 1.6% in first quarter, recovering from federal shutdown, government says, downgrading first estimate

US, Mexico launch formal trade talks, haggle over automotive content rules

IBM commits $5 billion to secure open-source software

CVS brings back coverage for Lilly’s obesity drug Zepbound

US auto safety regulator opens probe into nearly 115,000 Rivian vehicles

Humanoids dance and thread needles as Japanese robotics developers look to outdo Chinese

Fertitta-owned firm to buy Caesars Entertainment in nearly $18 billion leisure push

Caesars Entertainment, a Las Vegas Strip icon, is sold for $6 billion

Chinese online retailer Temu hit with $232 million fine over unsafe toys and electronics

Dollar likely to weaken over long-term due to U.S. fiscal dynamics, JPMorgan Asset Management exec says

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