WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg on Tuesday warned the 10 largest U.S. airlines they must comply with new passenger refund obligations passed by Congress in May, rejecting an industry request for more time. Buttigieg said in letters to airline CEOs that they must follow the new refund provisions taking a hard line with the industry. The law did...

By Aditya Soni, Yuvraj Malik and Anna Tong (Reuters) -Microsoft said it would spend more money this fiscal year to build out AI infrastructure even as growth slowed in its cloud business, another sign the payoff from hefty investments in the technology may take longer than Wall Street had hoped. Shares fell 7% on the spending forecast but pared losses...

(Reuters) -Intel ( INTC ) plans to cut thousands of jobs to finance a recovery and cope with eroding market share, Bloomberg News reported on Tuesday, citing people familiar with the matter. Shares of the chipmaker, which is set to report quarterly results on Thursday, were up about 1% in extended trading. The stock has slumped 40% so far this...

NEW YORK, July 30 (Reuters) - An annual power market auction by the largest U.S. electrical grid operator resulted in prices more than 800% higher than last year as supply dwindled and demand increased, the operator said on Tuesday. PJM Interconnection, which covers parts of 13 states from Illinois to New Jersey, revealed the results of its 2025 to 2026...