By Mike Scarcella (Reuters) – A U.S. appeals court on Tuesday revived a lawsuit against AstraZeneca Plc, Pfizer Inc and other companies over allegations their contracts with Iraq’s health ministry helped fund terrorism that killed Americans during the war in Iraq. The plaintiffs contend that the militia group Jaysh al-Mahdi, sponsored by Hezbollah, controlled Iraq’s…
By Noel Randewich and Paul Lienert DETROIT (Reuters) -Shares of Ford Motor and General Motors surged on Tuesday, lifted by investors’ growing enthusiasm about their future electric pickup offerings. Ford’s stock jumped more than 11% to its highest level since 2001 after the Detroit automaker said it will nearly double production capacity for its red-hot…
(Reuters) – BlackRock Inc and American Express Co are extending their hybrid work plans as the Omicron COVID-19 variant spreads across the United States. The world’s largest asset manager, BlackRock, is providing flexibility through Jan. 28 and allowing U.S. employees to work from wherever they are most comfortable, according to a source familiar with the…
(Reuters) – Bank of America Corp has hired veteran investment banker Benjamin Saunders as a managing director for its Americas Financial Institutions Investment Banking business, according to a memo seen by Reuters on Tuesday. Saunders, who was most recently the principal client coverage executive for New England and mid-Atlantic depository institutions at J.P. Morgan, will…
By Helen Coster and Eva Mathews (Reuters) -Bloomberg Media Chief Executive Officer Justin Smith and New York Times media columnist Ben Smith are departing their respective news organizations to start a new media firm, the two confirmed on Tuesday. Ben Smith will be the editor in chief of the as yet unnamed venture, which will…
SHANGHAI (Reuters) – Tesla’s New Year’s Eve announcement that it opened a showroom in Xinjiang has provoked criticism from U.S. rights and trade groups, making it the latest foreign firm caught up in tensions related to the far-western Chinese region. Xinjiang has become a significant point of conflict between Western governments and China in recent…
By Lawrence Delevingne BOSTON (Reuters) -Wall Street’s optimistic start to the New Year pushed some stocks, oil prices and the dollar higher, but investors dialled back risk-taking elsewhere as data showed U.S. manufacturing slowed last month and COVID-19 continued spreading. The Dow Jones Industrial Average rose 236.73 points, or 0.65%, to 36,821.79 — a fresh…
By Helen Coster and Eva Mathews (Reuters) -Bloomberg Media Chief Executive Officer Justin Smith is stepping down, effective immediately, to start a new media firm, Smith wrote in a tweet on Tuesday. “After 8 years at Bloomberg Media, and more than 25 years in quality journalism, I’ve decided to pursue a personal dream, and a…
By David Shepardson WASHINGTON (Reuters) – Japanese automaker Toyota Motor Corp outsold General Motors Co in the United States in 2021, marking the first time the Detroit automaker has not led U.S. auto sales for a full year since 1931. Toyota sold 2.332 million vehicles in the United States in 2021, compared to 2.218 million…
(Reuters) – General Motors Co reported a second straight drop in quarterly U.S. auto sales on Tuesday, as semiconductor shortages and supply chain snarls hit production amid high pent-up demand in the country. The U.S. automaker said fourth-quarter sales fell 43% to 440,745 vehicles, compared with 771,323 vehicles a year earlier. General Motors said 2021…
