By Jonathan Stempel NEW YORK (Reuters) – Elon Musk was sued on Tuesday by former Twitter Inc shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose a 9.2% stake in the social media company. In a proposed class action filed in Manhattan federal…
ZURICH (Reuters) – Swiss judges will deliver their verdict on Wednesday at the end of a trial of a former top banker and six others that has gripped the nation with allegations of fraudulent deals and huge strip club bills since it began in January. In one of the country’s highest-profile corporate crime trials in…
LONDON (Reuters) – The EMEA Credit Derivatives Determinations Committee (CDDC) on Tuesday accepted a request to address the question of whether a potential failure to pay occurred on Russia’s hard-currency bonds, possibly bringing payout on billions of dollars in default insurance a step closer. Russia made a payment due on April 4 on two sovereign…
MOMBASA, Kenya (AP) — Climate activists are urging more banks and insurers not to back the controversial $5 billion East African Crude Oil Pipeline that is primed to transport oil from the Hoima oilfields in Uganda to the Tanzanian coastal city of Tanga. Influential climate activists Vanessa Nakate and Hilda Nakabuye have lent their support…
(Reuters) -Walmart Inc has appointed PayPal Holdings Inc’s finance head, John Rainey, as chief financial officer (CFO), the world’s largest retailer said on Tuesday. Rainey will take over as CFO effective June 6, replacing Brett Biggs, Walmart’s finance chief since 2015, who announced his exit late last year. Rainey, who announced his departure from PayPal…
By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s central bank directors will meet on Wednesday to discuss a possible interest rate hike, a source with the bank told Reuters on Tuesday, as the South American country battles annual inflation expected to have topped 6% in March. A central bank spokesman confirmed Wednesday’s meeting, a day…
By Howard Schneider WASHINGTON (Reuters) – U.S. consumer inflation hit another four-decade high in March when it reached 8.5% in large part on gasoline prices surging to a record, but the data sported enough soft spots for some Wall Street pundits to declare “peak inflation” was at hand. The Federal Reserve certainly hopes it is….
By Katanga Johnson WASHINGTON (Reuters) -Global equities reversed earlier gains on Tuesday, while U.S. Treasury yields slipped as data showing a jump in U.S. inflation was in line with expectations gave investors some relief. The U.S. consumer price index rose 1.2% last month, the biggest increase in 16-1/2 years and cementing the case for a…
By Hannah Lang WASHINGTON (Reuters) -The dollar rebounded on Tuesday after digesting slightly softer-than-expected U.S. inflation data, while the euro extended losses ahead of a policy-setting meeting at the European Central Bank. Federal Reserve Governor Lael Brainard said on Tuesday that there were some signs of “welcome” cooling in the latest inflation readout, but emphasized…
By Gilles Guillaume PARIS (Reuters) -Renault Chief Executive Luca de Meo said on Tuesday that the automaker’s plans to create a separate division for its electric (EV) assets could eventually lead to a separate listing. “This could mean a separate listing. This is a conditional, this is precisely what we are reviewing,” De Meo told…
