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By David Shepardson WASHINGTON (Reuters) -President Donald Trump agreed to delay tariffs for one month on some vehicles built in North America after a call with the CEOs of General Motors and Ford and the chair of Stellantis, the White House said Wednesday. The automakers had urged Trump to waive 25% tariffs on Mexico and Canada on vehicles that comply with the 2020 U.S.-Mexico-Canada Agreement’s rules of origin. The move will benefit U.S. automakers and other foreign automakers that are in compliance. “We are going to give a one-month exemption on any autos coming through USMCA… so they are not…

(Reuters) -Major stock indexes fell in volatile trade on Tuesday, with the Nasdaq Composite index at one point down 10% from its December record high, while Treasury yields also seesawed as the United States hit Canada, Mexico and China with steep tariffs. The tariff move by U.S. President Donald trump fueled investor worries about the impact on the economy, and also weakened the dollar as investors moved into safe haven Treasuries, pushing yields lower. The Dow Jones Industrial Average unofficially closed down 1.63%, the S&P 500 down 1.3% and the Nasdaq Composite, down 0.34%. The 10-year Treasury yield was last…

By Greg Bensinger (Reuters) -Amazon.com has formed a new group focused on agentic artificial intelligence to help users and customers automate more of their lives, according to an internal email viewed by Reuters on Tuesday. The new group will be led by AWS executive Swami Sivasubramanian, the email, from AWS CEO Matt Garman, said. “Agentic AI has the potential to be the next multi-billion business for AWS,” Garman wrote. Sivasubramanian, previously vice president of AI and data, will report directly to Garman, according to the email. Agentic AI is meant to automate tasks for users so that they do not…

By David Shepardson WASHINGTON (Reuters) -A trade group representing nearly all major automakers warned on Tuesday that new 25% tariffs on imports from Canada and Mexico imposed by U.S. President Donald Trump will lead to drastic price hikes. “All automakers will be impacted by these tariffs on Canada and Mexico,” said John Bozzella, who heads the Alliance for Automotive Innovation that represents all major automakers in the U.S. except Tesla. Members include General Motors Ford, Toyota, Volkswagen, Hyundai and Stellantis. “Most anticipate the price of some vehicle models will increase by as much as 25% and the negative impact on…

By Medha Singh and Kanchana Chakravarty (Reuters) -Shares of U.S. companies were under pressure after the latest escalation in Washington’s trade war, with new tariffs on Canada and Mexico expected to hit earnings in several sectors, including automobiles, aerospace, retail and housing. Economically sensitive stocks such as airlines and banks led declines on Wall Street’s main indexes on Tuesday on the new tariffs. Monday, the benchmark S&P 500 suffered its worst day of this year after the U.S. tariffs were confirmed. [.N] U.S. President Donald Trump imposed 25% tariffs on imports from Mexico and Canada, effective Tuesday. The action covers…

(Reuters) -Wall Street’s main stock indexes tumbled late Monday to end sharply lower after President Donald Trump announced the start of 25% tariffs on Canada and Mexico. Trump said on Monday that there was no chance for Mexico or Canada to prevent 25% tariffs from taking effect on Tuesday. “They’re going to have to have a tariff. So what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs,” Trump said at the White House. The S&P 500 lost 1.75%, to end at 5,850.31 points, while…

By Scott Murdoch and Zoey Zhang SYDNEY (Reuters) -Chinese electric vehicle maker BYD said on Tuesday it had raised $5.59 billion in a primary share sale that was increased in size, making it the largest of its kind in Hong Kong in four years. The company said it sold 129.8 million primary shares in the deal, up from the original 118 million shares planned when the deal launched on Monday. BYD’s Hong Kong shares opened down 8% on Tuesday, in line with the discount the stock was sold at in the deal, while the Hang Seng Index was off 1.5%.…

By Arasu Kannagi Basil (Reuters) -Nvidia-backed CoreWeave’s revenue surged more than eight-fold in 2024, the cloud provider disclosed on Monday in its U.S. initial public offering paperwork, as the startup presses ahead with the first major artificial intelligence listing in New York this year. The filing lays the groundwork for what could be one of the biggest stock market flotations in recent years and comes as the IPO market springs into action after the seasonal February lull. Roseland, New Jersey-based CoreWeave, along with some existing shareholders, will sell shares in the proposed offering. The company is likely to target raising…

(Reuters) -Shell is considering a potential sale of its chemicals assets in Europe and the United States, the Wall Street Journal reported on Sunday, citing sources familiar with the matter. The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, the report said. Shell and Morgan Stanley declined to comment. Potential buyers could include private equity firms and Middle Eastern entities seeking to expand their Western presence, according to the newspaper. The review is in its early stages and Shell has not yet made any definitive decisions regarding a potential sale, the Journal reported,…

(Reuters) – Italian luxury group Prada is moving closer to a deal to buy Versace from upmarket fashion group Capri Holdings after agreeing to a price of nearly 1.5 billion euros ($1.6 billion), Bloomberg News reported on Sunday. Prada and Capri – also owner of brands including Jimmy Choo and Michael Kors – could finalise a deal for Versace in March, the report said, citing unnamed sources. Talks between the two companies are progressing after initial due diligence did not show any risks, Bloomberg reported, adding that the timing and deal value could change and discussions could still fall apart.…