SAN FRANCISCO (AP) — Top officials from California and New Zealand signed a pledge Friday agreeing to help fight climate change by sharing ideas and best practices, including how to put millions more electric vehicles on the road. Gov. Gavin Newsom, a Democrat, and New Zealand Prime Minister Jacinda Ardern spoke about the agreement at…
(Reuters) – The U.S. Securities and Exchange Commission (SEC) is looking into Tesla CEO Elon Musk’s disclosure of his stake in Twitter Inc in early April, according to a letter the agency sent to him in April. Meanwhile, Twitter stock has consistently traded below Musk’s offer price of $54.20 per share since the announcement of…
WASHINGTON (Reuters) – The U.S. Federal Reserve is carrying $330 billion in unrealized losses on its holdings of U.S. Treasury and mortgage-backed securities as of the end of March, according to newly released financial statements showing the impact of rising interest rates on the market value of the Fed’s balance sheet. The central bank’s holdings…
TUCSON, Ariz. (AP) — A federal judge has rejected a request by Native American tribes to stop Toronto-based Hudbay Minerals Inc. from preparing a planned new Arizona copper mine’s site in the Santa Rita Mountains near Tucson. U.S. District Judge James Soto refused to issue a temporary restraining order and dismissed the lawsuit filed by…
WASHINGTON (Reuters) – The U.S. Trade Representative’s office on Friday said it extended tariff exclusions on Chinese-made medical products needed to address the COVID-19 pandemic for another six months, to Nov. 30. The exclusions from tariffs of up to 25% imposed by former President Donald Trump’s administration were granted in 2020 and were subsequently extended,…
By David Randall NEW YORK (Reuters) – Bad news may once again be good news on Wall Street, as signs of slowing U.S. growth fan hopes that the Federal Reserve may not need to tighten policy as much as previously expected. Home sales have fallen for a third straight month, while big misses from retail…
By Daina Beth Solomon WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai said Friday the vote by General Motors workers at a pickup truck plant in Mexico to approve a new contract “demonstrates the significant benefits of true collective bargaining.” Reuters reported earlier this month GM agreed to a 8.5% wage hike with a new,…
By Ann Saphir and Howard Schneider (Reuters) – Evidence U.S. inflation is cooling will not budge Federal Reserve policymakers from half-point interest rate hikes planned for upcoming meetings in June and July, but may prompt a shift to smaller rate hikes come September if the trend continues. A U.S. Commerce Department report on Friday showed…
By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Reuters) – Key Senate Democrats are working to revive U.S. President Joe Biden’s legislative agenda with a current focus on energy, environment, climate and tax reform rather than the social safety net, according to three people familiar with the matter. Plans to revive the “Build Back Better” legislation…
(Reuters) – Rivian Automotive said on Friday Charly Mwangi, who helped kick-start the electric-vehicle maker’s manufacturing process, will leave the company. Mwangi, a former Tesla Inc executive, served as Executive Vice President from May 2020 at Rivian. He brought the R1T pickup truck and R1S SUV to production in late 2021. His departure comes amid…
