NEW YORK (AP) — Walmart and Kohl’s are paying a combined $5.5 million in settlements after the Federal Trade Commission said they falsely marketed dozens of sheets and other home textile products as made of environmentally friendly bamboo, when they were actually rayon. Kohl’s agreed to pay $2.5 million and Walmart will pay $3 million…
NEW YORK (Reuters) -Amazon.com Inc on Friday called for an election re-run after workers at a New York City warehouse voted to create the company’s first U.S. union, saying that the U.S. labor board and worker-organizers suppressed turnout. The Amazon Labor Union (ALU) rejected the allegations made by the online retailer that is the second-largest…
(Reuters) – AT&T’s WarnerMedia unit and Discovery Inc said on Friday that the two firms have completed the merger. The resultant company, Warner Bros. Discovery, will start trading on Nasdaq on Monday. (Reporting by Eva Mathews and Yuvraj Malik in Bengaluru; Editing by Maju Samuel)
WASHINGTON (Reuters) -The United States on Friday broadened its export curbs against Russia and Belarus, restricting access to imports of items such as fertilizer and pipe valves as it seeks to ratchet up pressure on Moscow and Minsk following the Russian invasion of Ukraine. President Joe Biden’s administration also restricted flights of American-made aircraft that…
(Reuters) – Lowe’s Cos Inc said on Friday Chief Financial Officer David Denton would step down in order to pursue another opportunity at a publicly traded company outside the industry. The company added that Brandon Sink, the senior vice president of retail finance, will succeed Denton, effective April 30. (Reporting by Ananya Mariam Rajesh in…
By Herbert Lash, Bansari Mayur Kamdar and Praveen Paramasivam NEW YORK (Reuters) -The Dow rose and the S&P 500 ended lower in choppy trade on Friday, as beaten-down bank shares gained and investors grappled with how best to deal with an economy that could skid as the Federal Reserve moves to aggressively tackle inflation. The…
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices rose 2% on Friday but notched their second straight weekly decline after countries announced plans to release crude from their strategic stocks. Brent crude futures settled up $2.20, or 2.19%, at $102.78 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $2.23 to $98.26. For the…
(Reuters) – Russia will scrap a 12% commission on buying foreign currency through brokerages starting from April 11, Tinkoff bank and Alfa Bank said on Friday, after a sharp rally in the rouble raised concerns about its economic and financial impact. The rouble has rebounded on the Moscow Exchange from record lows it hit in…
By Herbert Lash, Bansari Mayur Kamdar and Praveen Paramasivam NEW YORK (Reuters) -The Dow rose and the S&P 500 edged lower in choppy trade on Friday, with bank shares rising as investors grappled with how best to deal with an economy that could skid as the Federal Reserve moves to aggressively tackle inflation. The yield…
By Luc Cohen and Jody Godoy NEW YORK(Reuters) -Former Goldman Sachs banker Roger Ng was convicted by a U.S. jury on Friday of corruption charges related to his role in helping loot hundreds of millions of dollars from Malaysia’s 1MDB development fund. The charges stemmed from one of the biggest financial scandals in history. Prosecutors…
