NEW YORK (AP) — A group of financial donors committed to racial equity plans to announce Tuesday that it has secured at least $100 million annually to benefit minority groups that are disproportionately harmed by extreme weather events. The group, the Donors of Color Network, will also announce that 10 of the nation’s top 40…
Elon Musk is joining Twitter’s board of directors a day after revealing that he’d become the social media platform’s largest shareholder with a 9% stake. The billionaire has criticized Twitter publicly about its commitment to free speech. He’s also run into trouble on the platform as the CEO of Tesla after financial regulators found he…
LONDON (AP) — Britain has unveiled plans to regulate some cryptocurrencies as part of a broader plan to become a global hub for digital payments, coming as authorities in the U.S. and Europe are racing to draw up rules for crypto. Cryptocurrencies have exploded in popularity, leaving officials worldwide scrambling to figure out how to…
(Reuters) – Memory chipmaker Micron Technology Inc on Tuesday named chip firm Qorvo Inc’s finance chief Mark Murphy as its new chief financial officer. Micron lost its former CFO David Zinsner to chipmaker Intel Corp in January. Murphy will take the reins from interim finance chief Sumit Sadana, who will return to the role of…
By Ben Klayman DETROIT (Reuters) -General Motors and Honda Motor Co on Tuesday said they will co-develop a series of electric vehicles based on a new global architecture, allowing production of millions of vehicles starting in 2027. The announcement expands on plans for GM to begin building two electric SUVs for Honda starting in 2024….
BRUSSELS (AP) — The European Union’s executive branch proposed Tuesday a ban on coal imports from Russia in what would be the first EU sanctions targeting the country’s lucrative energy industry over its war in Ukraine. European Commission President Ursula von der Leyen said the EU needed to increase the pressure on Russian President Vladimir…
By Muhammed Husain (Reuters) -Britain’s Go-Ahead said it plans to expand its transport operations and reinstate its pre-COVID-19 dividend policy after a months-long strategic review, lifting its shares on Tuesday. Go-Ahead, which runs more than 6,000 buses in England and Britain’s largest passenger rail contract, said it plans to turn around underperforming businesses and grow…
By Hyunjoo Jin and Chris Prentice SAN FRANCISCO/NEW YORK (Reuters) – Did Elon Musk break securities laws again? Former securities officials and professors said Musk may have missed a key disclosure deadline when he bought 9% of Twitter. And Securities and Exchange Commission regulators could use any shortfall to try to punish Musk more for…
LONDON (Reuters) – Global sovereign borrowing will reach $10.4 trillion in 2022, nearly one-third above the average before the coronavirus pandemic, S&P Global Ratings said in a report. Despite an ongoing economic recovery, borrowing will stay elevated due to high debt rollover requirements and the ongoing war in Ukraine, the ratings agency said in an…
By Svea Herbst-Bayliss BOSTON (Reuters) -Activist investment firm Macellum Advisors GP LLC on Monday urged Kohl’s Inc to be more open about its sales process, urging the retailer to give bidders and shareholders a fuller financial picture of itself. The firm, in a letter to Kohl’s board, asked the company to say when it plans…
