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SAO PAULO (Reuters) -Telecom operator Claro, owned by Mexico's America Movil, is in advanced talks to buy Brazilian internet provider Desktop, news outlet Brazil Journal reported on Tuesday, citing two sources. The deal would involve a full takeover of Desktop, taking the Brazilian firm private, Brazil Journal said. Claro is conducting due diligence, but has not yet made a formal bidding offer for the company, the report added. Shares in Desktop, which is focused on providing internet through optical fiber, jumped over 16% in Sao Paulo following the news, before paring gains to trade up some 11%. Desktop did not immediately comment on the matter. And a spokesperson for America Movil declined to comment. Telefonica Brasil, a rival of Claro in Latin America's largest economy, last year had talked with Desktop for a potential acquisition. (Reporting by Andre Romani; additional reporting by Luciana Magalhaes in Sao Paulo and Cassandra Garrison in Mexico City; Editing by Kylie Madry and Natalia Siniawski)

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WASHINGTON (Reuters) -Toyota Motor said on Tuesday it is exploring the development of a small drone system primarily to support vehicle operations on unpaved roads and trails. The Japanese automaker said in a filing with the Federal Aviation Administration that the potential system aims to boost situational awareness in places where it is unsafe to exit the vehicle. "By providing the driver with views of the local environment, including potential hazards around and underneath the vehicle, drivers can plan safer routes and improve vehicle operations," the Toyota letter said. (Reporting by David Shepardson; Editing by Nia Williams)

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(Reuters) -Peter Marks, the former top vaccine regulator at the U.S. Food and Drug Administration, has joined Eli Lilly, STAT News reported on Tuesday. STAT said Marks, who began his first day at the drugmaker on Monday, confirmed his new role at Lilly Research Laboratories to the health news outlet. Eli Lilly did not immediately respond to a Reuters request for comment. Marks, who played a key role in U.S. President Donald Trump's first term in developing COVID-19 vaccines, resigned in March after being forced out by U.S. Health Secretary Robert F. Kennedy Jr. (Reporting by Siddhi Mahatole in Bengaluru; Editing by Shailesh Kuber)

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By Georgina McCartney HOUSTON (Reuters) -Oil prices steadied on Tuesday as investors weighed a smaller-than-expected increase to OPEC+ output in November against signs of a potential supply glut. Brent crude futures settled down 2 cents, or 0.03%, to $65.45 a barrel. U.S. West Texas Intermediate crude was up 4 cents, or 0.06%, to $61.73. Both contracts settled more than 1% up in the previous session after the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers, together known as OPEC+, decided to increase collective oil production by 137,000 barrels per day, starting in November. The move was in contrast to market expectations for a more aggressive increase, a sign that the group remains cautious in light of predictions for a global supply surplus in the fourth quarter as well as next year, said ING analysts. Market sentiment remains subdued, in particular after Saudi Arabia opted to keep the official selling price of its flagship crude to Asia unchanged, defying analyst expectations for an increase, StoneX analyst Alex Hodes said in a note on Tuesday.     Meanwhile, the Abu Dhabi National Oil Company has set the November official selling price of its benchmark Murban crude at $70.22 a barrel, it said on Tuesday, up from October's OSP of $70.10/bbl. On the demand side, India's fuel demand rose by 7% year-on-year in September, according to data from the Petroleum Planning and Analysis Cell of the country's oil ministry. On the supply side, U.S. oil production is expected to hit a larger record of 13.53 million bpd this year, up from a prior forecast of 13.44 million bpd, the Energy Information Administration said on Tuesday. Global oil inventories are also expected to rise through next year as non-OPEC+ countries lead oil output growth, according to the EIA, putting significant downward pressure on commodity prices in the months ahead. JPMorgan said global oil inventories, including crude stored on water, have risen every week in September, adding 123 million barrels during the month. China is building oil reserve sites at a rapid clip as part of a campaign to boost stockpiles, according to public data, traders and industry experts. Geopolitical factors have kept a floor under prices, with conflict between Russia and Ukraine affecting energy assets and creating uncertainty over Russian crude supply. Russia's Kirishi oil refinery halted its most productive distillation unit after a drone attack and subsequent fire on October 4, with recovery likely to take about a month, two industry sources said on Monday. Investors are also awaiting U.S. oil stocks data, due later on Tuesday from the American Petroleum Institute. "Right now the market is locked in a sideways pattern, waiting to see what happens with inventories," said Phil Flynn, a senior analyst at Price Futures Group.  (Reporting by Georgina McCartney in Houston, Enes Tunagur and Robert Harvey in London, Anjana Anil in Bengaluru and Siyi Liu in SingaporeEditing by Clarence Fernandez, David Goodman, Rod Nickel, Nia Williams and Deepa Babington)

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By Abhirup Roy (Reuters) -Tesla unveiled more affordable versions of its best-selling Model Y SUV and its Model 3 sedan on Tuesday at $39,990 and $36,990, respectively, as the electric-vehicle maker seeks to reverse falling sales and waning market share amid rising competition. Tesla shares fell 2.1% in afternoon trading. Chief Executive Elon Musk has for years promised mass-market vehicles, though last year he canceled plans to build an all-new $25,000 EV, Reuters first reported.  Late last year, Musk said the vehicle would be priced below the "key threshold" of $30,000 including U.S. EV tax credits. In the United States, prices effectively rose by $7,500 at the end of last month, when the credit ended. That helped goose quarterly sales to a record, but expectations are that they will slow down for the rest of the year, unless the affordable car comes to the rescue. "The desire to buy the car is very high. (It's) just (that) people don't have enough money in the bank account to buy it," Musk said in July during Tesla's second-quarter earnings call. "So the more affordable we can make the car, the better." Tesla had posted two clips on X over the weekend, igniting excitement among fans. One video shows headlights peering out of the dark and another shows what looks like a wheel spinning for a few seconds, followed by "10/7" — the U.S. format for the date October 7. CRUCIAL TO $1 TRILLION PAY PLAN Musk initially promised that production of the vehicle would start by the end of June. But Tesla only made what it called "first builds" of the car, it said in July, adding that it would be available for customers sometime in the last three months of the year. Tesla has already been grappling with slowing sales of its aging lineup as competition has grown rapidly, especially in China and Europe, where Musk's far-right political views have also undermined brand loyalty. Earlier this year, Tesla launched a refreshed version of the Model Y with improvements including new light bars and a rear touchscreen. Musk has been pivoting the company toward artificial intelligence, focusing on robotaxis and humanoid robots. Tesla has said it will launch more affordable vehicles in its lineup but has not provided details.  Sources have told Reuters the EV maker also plans to roll out a stripped-down version of its Model 3 midsize sedan. Affordable cars will also be key to Tesla delivering 20 million vehicles over the next decade – one of the several operational and valuation milestones set by the company's board as part of its proposed $1 trillion pay package for Musk. (Reporting by Abhirup Roy in San Francisco and Akash Sriram in Bengaluru; Editing by Peter Henderson, Richard Chang, Sriraj Kalluvila and Alan Barona)

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(In paragraph 8, removes reference to the layoff of a strategic communications manager) By Maggie Fick and Soren Jeppesen LONDON/COPENHAGEN (Reuters) -Wegovy-maker Novo Nordisk has laid off dozens of employees at the largest U.S. manufacturing site for its blockbuster obesity and diabetes drugs, a Reuters review of LinkedIn posts showed, a signal of where it is making cuts in a major restructuring under new CEO Mike Doustdar. The previously unreported cuts included staff in manufacturing roles, from quality control to production line technicians, at Novo's major Clayton, North Carolina, plant and other facilities in the state, an analysis of 73 posts and profiles show. The layoffs, while only a small part of a planned 9,000 job cuts globally, underscore how Novo is cutting back even on frontline production in the top market for Wegovy as it looks to sharpen its focus, trim costs, and claw back lost ground in fierce competition with rival Eli Lilly. The cuts, which follow earlier ones focused on the obesity education team in the U.S., come as the administration of President Donald Trump pressures pharmaceutical companies to expand U.S. drug production and create more domestic jobs. The Danish drugmaker last year became Europe's most valuable listed company on unprecedented demand for weight-loss drugs before a sharp share price slide as sales growth slowed. It is now trying to turn around its fortunes and reduce costs and staff that bloated as it rode the Wegovy boom. A Novo spokesperson declined a Reuters request for further details beyond last month's global layoffs announcement. "This process takes time and our highest priority is to support our employees," the spokesperson said. PLANT MAKES WEGOVY, OZEMPIC The announced wider cuts helped boost Novo's shares, though the company has provided little detail about its plans. It said around 5,000 jobs would be cut in its native Denmark. The North Carolina cuts hit technical manufacturing workers, project coordinators, and an HR assistant, the posts revealed. Of the total, 47 directly posted they were looking for work or had been laid off. Novo's Clayton facility makes semaglutide, the active ingredient in Wegovy and diabetes drug Ozempic. It also does manufacturing steps including filling, finishing and packaging the injections. It also will play a key role in producing the new pill version of Wegovy once that becomes available. CEO Doustdar this month heralded an ongoing $4.1 billion expansion at the North Carolina plant that employed some 2,500 people in 2024 and was expected to add 1,000 more. Reuters could not determine the exact number or the reason for the layoffs in Clayton, which came three weeks after Doustdar announced the broader restructuring. Reuters contacted about 30 of the Novo employees who posted on LinkedIn that they had been laid off. One replied, saying a non-disclosure agreement prevented them from speaking to the media. (Reporting by Maggie Fick in London and Soren Jeppesen in Copenhagen; Editing by Adam Jourdan and Bill Berkrot)

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By Maria Cheng and Andrea Shalal WASHINGTON (Reuters) -U.S. President Donald Trump on Tuesday promised to treat Canada fairly in talks over punishing U.S. tariffs on Canadian goods, but was less committed about a continental trade deal that also includes Mexico. "I think they're going to walk away very happy," Trump said, referring to Canada, in Oval Office remarks ahead of a meeting with Canadian Prime Minister Mark Carney to discuss trade. "We're going to treat people fairly. We're going to especially treat Canada fairly." Trump, complaining that "we're the king of being screwed" by trading partners, said Washington would continue to target some Canadian exports. Carney, making his second visit to the White House in five months, is under increasing pressure to address U.S. tariffs on steel, autos, and other goods that are hurting Canada's economy. USMCA RENEGOTIATION OR BILATERAL DEALS Carney initially responded to tariffs by pushing for a separate trade and security deal with the United States, but as talks ran into trouble, he switched his attention to a review of the U.S.-Canada-Mexico free trade deal scheduled for next year. "We can renegotiate it, and that would be good, or we could just do different deals," said Trump. "We might make deals that are better for the individual countries." Asked for his preference, he replied: "I don't care. I want to make whatever the best deal is for this country, and also very much with Canada in mind." In March, Carney took over as prime minister from Justin Trudeau, who had famously bad relations with Trump. Carney and Trump have since underlined how well they get on. "From the beginning, I liked him, and we've had a good relationship," Trump said. "We have natural conflict. We also have mutual love … you know we have great love for each other," he added. In response, Carney called Trump a transformative president.  Trump interrupted Carney as he listed the president's accomplishments to add: "the merger of Canada and the United States," drawing laughter from reporters before adding, "I'm only kidding." Carney, also laughing, responded: "That wasn't where I was going."  Canada sends 75% of all exports to the United States and is particularly vulnerable to U.S. trade action. Trump said the two countries have agreed to work together on a missile defense shield dubbed Golden Dome. "There are areas where we compete, and it's in those areas where we have to come to an agreement that works. But there are more areas where we are stronger together, and that's what we're focused on," said Carney. A Canadian government official and several analysts played down the chances of an imminent trade deal with Trump and said the fact discussions are continuing should be considered a success for Carney. The prime minister last visited the Oval Office in May, when he bluntly said Canada would never be for sale in response to Trump's repeated threat to purchase or annex Canada.  Since then, the prime minister has made numerous concessions to Canada's biggest trading partner, including dropping some counter-tariffs and scrapping a digital services tax aimed at U.S. tech companies. CANADA STEEL, AUTO INDUSTRIES BEAR BRUNT While the majority of Canada's exports are entering the United States tariff-free under the U.S.-Canada-Mexico free trade agreement, tariffs have pummeled Canada's steel, aluminum, and auto sectors and a number of small businesses. Doug Ford, premier of the Canadian industrial province of Ontario, reiterated calls for Carney to be prepared to be tougher with Trump. "We seem to be weakening our case by continuously pulling off tariffs. I'd take a different approach – try to get a deal. If you can't, we got to hit him back hard and never stop hitting him back hard, because we can never take a back seat to anyone, especially President Trump," he told reporters. Canada's main opposition leader, Pierre Poilievre, has criticized Carney's approach to Trump, noting the prime minister's earlier pledge to "negotiate a win" by July 21. He said on Monday it did not look like Carney would accomplish much in the trip. The trade war is straining bilateral ties. Ford in March threatened to cut off electricity exports to New York state and has ordered provincial liquor stores to boycott U.S. alcohol. Canadians are also shunning travel to the United States. Trump, though, seemed unconcerned when pressed about this. "I think the people of Canada, they will love us again. Most of them still do," he said.    (Reporting by Maria Cheng; Additional reporting by Steve Holland and Katharine Jackson in Washington and David Ljunggren in Ottawa; Editing by Caroline Stauffer, Franklin Paul, Rod Nickel)

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By Ann Saphir (Reuters) -Federal Reserve Bank of Minneapolis President Neel Kashkari on Tuesday said that while he doesn't believe artificial intelligence will quickly replace U.S. workers, massive investment in AI data centers will tend to drive borrowing costs higher, even if the Fed reduces its short-term policy rate.  President Donald Trump has pushed for the Fed to lower interest rates in part to help make housing more affordable, and recently appointed a new Fed governor who says Trump's immigration crackdown is already driving rent inflation down and is calling for massive rate cuts.  "Even if the Fed embarks on one or more interest rate cuts, it may not translate into lower mortgage rates because the capital that would have been building homes or apartment buildings is being diverted to build data centers which are generating a stronger investment return," Kashkari said at the Star Tribune's North Star Summit 2025, where he shared the stage with OpenAI's chief economist Ronnie Chatterji. "If we were to cut interest rates dramatically beyond what is justified based on the economics, you would then see probably a very low unemployment rate and very high inflation as the economy was effectively overheating." Kashkari supported the Fed's September quarter-percentage-point interest rate cut and says he believes the central bank should make same-sized reductions at its next two rate-setting meetings, later this month and in December, to protect the U.S. labor market from weakening.  He did not elaborate on those views at Tuesday's event, which was largely focused on the impact of AI on the economy, but he made clear he does not believe that AI is the main force behind the job market slowdown. Tariffs, he said, are both pushing up on prices and slowing the economy. While OpenAI's Chatterji argued that AI will enhance productivity, Kashkari was more skeptical, saying he expects AI tools to be able to perform narrow tasks well but not to be an all-purpose technology. And while some companies, including Walmart, say AI will allow them to freeze headcount for years, Kashkari noted that technological innovations in the past have taken a long time to make their way into the economy. "We're hearing a lot of grand declarations, but we're not seeing the evidence yet," Kashkari said. "I'm skeptical that you're seeing a lot of workers being replaced with AI right now. It feels to me like it's way too soon." (Reporting by Ann Saphir; Editing by Andrea Ricci)

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By Tim Hepher PRAGUE (Reuters) – Europe's Airbus broke a major commercial barrier on Tuesday when its A320 family of planes overtook the Boeing 737 to become the most-delivered jetliner in history. Boeing's decades-old record fell with the handover of an A320neo to Saudi carrier Flynas, bringing total deliveries to 12,260 since the A320 series entered service in 1988, according to benchmark data from UK-based aviation analytics firm Cirium. Airbus and Boeing did not reply to requests for comment on the data, tracked by leading aircraft supply analyst Rob Morris. Demand for the industry's workhorse A320 and 737 jets has surged in recent years, as economic growth led by Asia brought tens of millions of new middle-class travellers into the skies.    Together, Boeing and Airbus have delivered more than 25,000 of these jets, originally designed to serve major hubs but later widely adopted by low-cost carriers, which Airbus courted after Boeing cut output during a downturn in demand post-9/11.    Already the world's largest planemaker by annual deliveries, Airbus now claims the top spot for cumulative narrow-body deliveries, capping a 40-year transatlantic battle for market share after early disagreements over strategy and the share of jobs among partner nations, France, Germany, Spain and Britain.    "At the beginning, nobody thought it would work and now it's winning, at least on the bigger variants," said Adam Pilarski, former chief economist at Douglas Aircraft, which also competed with Boeing before being absorbed by its domestic rival in 1997. DECADES OF TRANSATLANTIC RIVALRY    Launched in 1984, the A320 emerged at a time when Airbus's future was far from assured, following the rocky introduction of two wide-body jets. The aircraft first flew in 1987 and entered service the following year.    Engineers in Toulouse, France, took an ambitious step by introducing fly-by-wire computer controls to a mainstream airliner – a pioneering move that met resistance from unions and some carriers but ultimately became an industry standard.    The brainchild of Airbus co-founder Roger Beteille, its development was shaped by arguments over whether to prioritise U.S. airline demands for a jet in the new 150-seat market, supported by the French, or continue focusing on wide-bodies, backed by Lufthansa.    The project narrowly escaped collapse when French President François Mitterrand and German Chancellor Helmut Kohl, unaware they had chosen the same intermediary – Bavarian politician Franz-Josef Strauss – asked him to mediate their dispute by drafting letters between them. The episode is recounted in Airbus: The First 50 Years, a history commissioned by Airbus but withdrawn, a copy of which was obtained by Reuters.    It was also nearly derailed by doubts over investment from European governments. British Prime Minister Margaret Thatcher told parliament in 1984: "I do not want another Concorde on my hands", referring to cost overruns on the Anglo-French supersonic jet. Boeing has long criticised such support.        EUROPE'S FIRST COMMERCIAL JET SUCCESS    The high-tech but visually unremarkable A320 quickly outgrew the assembly hall deserted by Concorde's short-lived production run and most recently expanded into space vacated by the discontinued A380. In coming weeks, Airbus plans to expand output in the U.S. and China. "It was the first truly successful non-U.S. commercial jet," said Cirium head of advisory Max Kingsley-Jones. "It forced others to create competitive alternatives." Boeing responded with a successful version called 737NG after Airbus won a surprise order from United Airlines in 1992. But despite strong sales, its third-generation 737 MAX plunged Boeing into turmoil after fatal crashes in 2018 and 2019. The storied planemaker has stabilised under new CEO Kelly Ortberg.      The A320 was forced to tackle its own safety concerns after two early accidents, prompting debate over the balance between pilot control and cockpit automation.    Now, the Western duopoly faces threats from China and elsewhere as Brazil's Embraer debates whether to step up from regional jets and Californian startup JetZero proposes a radical departure from the traditional fuselage design.    Industry sources say neither Airbus nor Boeing is in a rush to replace their cash-generating models. Boeing is mired in debt, while Airbus enjoys a price premium and booming sales.    Executives from both companies told the International Society of Transport Aircraft Trading (ISTAT) conference in Prague on Monday that new developments are unlikely until there are further advances in areas including engine technology.    "Boeing can't catch up with the current A320 family based on their respective production plans, but it may strengthen Boeing's resolve to think about a future beyond the 737 when the conditions are right," Morris said. (Reporting by Tim Hepher. Editing by Louise Heavens and Mark Potter)

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By Foo Yun Chee BRUSSELS (Reuters) -Boeing is set to gain EU antitrust approval for its $4.7 billion acquisition of Spirit AeroSystems, with remedies to address EU concerns expected to include sales of some of the latter's businesses, people with direct knowledge of the matter said. Boeing announced the deal in July last year, aiming to streamline its operations and improve quality control, years after spinning off the key airline supplier. Boeing's remedies to address EU competition worries are expected to be those the companies announced at the time of the acquisition agreement, the people said. These are the sale of Spirit's loss-making Europe-focused activities to Airbus and the divestment of Spirit's operations in Prestwick, Scotland, and in Subang, Malaysia, that support Airbus programmes, as well as those in Belfast that do not support Airbus programmes. The European Commission, which acts as the EU's competition enforcer, is scheduled to make a decision by October 14. Boeing and Spirit AeroSystems declined to comment. Britain's competition agency cleared the deal without conditions in August. Boeing has long considered buying back its former subsidiary, which analysts say has struggled to thrive independently despite diversifying into work for Europe's Airbus and others. The decision to go ahead comes as Boeing tries to resolve a sprawling corporate and industrial crisis that has engulfed one of the industry's key suppliers. (Reporting by Foo Yun CheeEditing by Mark Potter)

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