Author: News Room

By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) -The Biden administration still needs to determine whether China’s top chipmaker SMIC violated U.S. export rules to produce a chip to power Huawei’s Mate 60 Pro phone, a senior Commerce Department official said during a congressional hearing on Thursday. When asked by Representative Michael McCaul if SMIC broke U.S. export rules to produce the sophisticated chip, Alan Estevez, who oversees export policy, said “potentially yes. We will have to assess.” Questions have surfaced about whether SMIC illegally obtained U.S. tools to make the chip. The comments show the Biden administration has not…

By Daniel Becerril CUATRO CIENEGAS, Mexico (Reuters) – Alfalfa plants sway under a thin veil of mist as towering irrigation equipment rolls above the crops, spraying the vast fields with water. It’s an important agriculture product in Mexico’s northern state of Coahuila, grown there for hundreds of years. Rich in fiber and protein, it’s used to feed livestock in Latin America’s second largest economy.   But alfalfa crops and other agricultural activities are also sapping dry the ancient oasis of Cuatro Cienegas, the most important wetland in the Chihuahuan Desert and a geological anomaly that scientists say can help them understand…

Reddit, one of the original social media companies, is finally making its debut on the New York Stock Exchange Thursday — more than a decade after many of its peers. Trading under the ticker “RDDT,” shares started trading at $47 and reached a high of $57.80 early Thursday afternoon, up as much as 70% from its initial price offering of $34. At its peak, shares of the stock had a market cap of about $10.9 billion. It’s a major milestone for the nearly 20-year-old company, something Reddit has been preparing for since at least 2021, when it hired its first chief financial…

Gold prices retrace, experience pullback from recent highs as US Dollar strengthens. Risk-off sentiment, lower Gold demand follows Fed announcement on monetary policy. Fed cautious on economy, eyes on inflation, labor market. US 10-year Treasury yields, Dollar Index rise, both headwinds for Gold prices. Gold prices (XAU/USD) fell from all-time highs of $2,223 and broke below the $2,200 figure on Thursday, clocking losses of 0.29% as the Greenback stages a comeback while US Treasury yields paired yesterday’s losses. A risk-off impulse and the lack of demand for the yellow metal above the $2,200 mark sponsored XAU/USD’s leg down toward the…

The Swiss National Bank (SNB) announced a twenty-five basis point cut to its benchmark interest rate on Thursday, bucking a global trend among other central banks committed to keeping rates elevated. Should others follow, it could be a promising sign for crypto markets—which have historically ebbed and flowed in line with global macroeconomic policy. “For some months now, inflation has been back below 2% and thus in the range the SNB equates with price stability,” explained the central bank regarding its decision. In February, the nation’s inflation rate fell to just 1.2%, with the central bank now forecasting an average…

Hungarian Prime Minister Orban congratulates Putin on reelection, state media reportsHungary’s Prime Minister Viktor Orban congratulated Russian President Vladimir Putin on his reelection, state news agency MTI reported on Thursday.According to the agency, Orban wrote in a letter that cooperation between Hungary and Russia was “based on mutual respect, allowing the discussion of important issues even in the current very difficult geopolitical situation.” — ReutersRussian production of artillery and weapons surges significantly, defense ministry saysRussia’s production of artillery and weapons has grown substantially, the defense ministry said on Thursday following an inspection of several factories by Russian Defense Minister Sergei…

Fani Willis, the embattled Fulton County District Attorney, plans to press ahead with her goal of putting Donald Trump on trial before the November election, and intends to ask the judge presiding over the Georgia criminal case to schedule a trial date as soon as this summer, according to three people familiar with her thinking. It’s a bold move considering the hurdles Willis faces in getting the case back on track after a two-month detour revealed embarrassing details of her personal life, damaging her credibility in the eyes of Judge Scott McAfee and leaving her politically vulnerable ahead of her…

Topline Microsoft, Match Group, Meta, and X (formerly known as Twitter), filed an amicus curiae brief in federal court Wednesday pushing back against Apple’s plan to enable outside payment options on its app store—the latest criticism of Apple following similar arguments made by Fortnite developer Epic Games. Key Facts Apple has proposed new a plan to allow users in the App Store to follow a link to a developer’s site in order to pay for purchases, rather than having to pay for everything within the App Store — but the plan has been met with criticism from other app makers.…

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The first McDonald’s franchise restaurant opened in Des Plaines, Illinois, in 1955. When the first McDonald’s restaurant opened, the menu only had nine items. A McDonald’s museum was later opened to show visitors what the restaurant was like in the ’50s. The McDonald brothers, Richard and Maurice “Mac” McDonald, launched their burger restaurant in the 1940s.It had a simple menu, which allowed the brothers to keep costs low and quality high, and self-service counters, according to the company.Then, in 1954, Ray Kroc, a milkshake machine salesman, came across the small burger joint. Amazed by its efficiency, Kroc wanted in, and…