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WASHINGTON (Reuters) – The Biden administration said on Thursday it is offering a fresh round of $1.2 billion in aid to extend the life of distressed nuclear power plants which, for the first time, could offer funding to a plant that has recently closed. President Joe Biden’s climate team believes nuclear power is a crucial source of virtually carbon-free electricity needed to be maintained and expanded to reach his pledge […]

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell again last week, pointing to sustained labor market strength and adding to financial market fears that the Federal Reserve could keep hiking interest rates for longer. Those worries were further heightened by another report from the Labor Department on Thursday showing labor costs grew much faster than previously estimated in the fourth quarter. […]

By Jarrett Renshaw (Reuters) – President Joe Biden plans to ask Congress to provide $1.6 billion in new funding to tackle fraud tied to U.S. pandemic relief programs and help victims of identity theft, the White House said. The push, led by White House adviser Gene Sperling, will seek to demonstrate renewed toughness on pandemic fraud ahead of promised investigations by House of Representatives Republicans on the trillions of dollars […]

OSLO (Reuters) – Norway’s energy minister on Thursday apologised to Indigenous Sami groups for the construction of wind turbines on reindeer pastures, calling it a “human rights violation”. The apology by Minister of Petroleum and Energy Terje Aasland followed a week of protests by Sami activists and others that led to a growing crisis for the government. “I have apologised (today) on behalf of the government to the reindeer herding […]

(Reuters) -Salesforce Inc’s shares jumped 14% on Thursday after the cloud-based software provider gave an upbeat full-year profit forecast and doubled its share repurchase program, placating activist investors pushing for changes amid slowing growth. The Dow component was set for its best day in more than two years if gains hold, and add about $27 billion to its $167 billion market capitalization. Salesforce has been under pressure from four activist […]

(Reuters) -Apple Inc has delayed the approval of an update to an email app with AI-powered tools due to worries that it may generate inappropriate content for children, the Wall Street Journal reported on Thursday, citing communications between the iPhone maker and the app developer. An update to the email app, BlueMail, which uses a customized version of OpenAI’s GPT-3 language model, was blocked last week, Ben Volach, co-founder of […]

By Isabel Woodford MEXICO CITY (Reuters) – Nearly 1 million customers of Citigroup Inc’s retail unit in Mexico have deactivated their accounts since it was put up for sale last January, according to official government data, although it is unclear whether the looming sale is the cause. The Mexican unit, known as Banamex, saw an 11% drop year-on-year in December 2022 in its deposit accounts, which does not include its […]

By Sruthi Shankar and Shristi Achar A (Reuters) – The benchmark S&P 500 and the tech-heavy Nasdaq fell on Thursday as the 10-year Treasury yield surged above 4% following hotter-than-expected labor market data, while Tesla sank after it gave few details on its affordable electric vehicle. The number of Americans filing new unemployment claims fell again last week, according to a Labor Department report that pointed to sustained strength in […]

By David Shepardson WASHINGTON (Reuters) -Ford Motor Co said it is recalling 98,500 older Ranger pickup trucks in the United States because replacement front passenger air bag inflators may have been installed incorrectly. The new recall covers 2004-2006 model year Ranger trucks recalled in 2017 and 2018 to replace a small number of inflators that were installed incorrectly. Those original replacement inflators were replacing Takata versions that are at risk […]