By Jonathan Stempel (Reuters) – Tenaris SA, a global manufacturer of steel pipes, said on Thursday it will pay $78.1 million to resolve U.S. probes into its alleged payment of bribes to win business from Brazil’s state-owned oil company Petrobras. The Luxembourg-based company will pay a $25 million civil fine plus $53.1 million in disgorgement…
(Reuters) – The U.S. Securities and Exchange Commission on Thursday said Tenaris SA, a maker and supplier of steel pipe products, will pay more than $78 million to resolve charges concerning a bribery scheme involving its Brazilian subsidiary. According to the SEC, the bribe scheme involved agents and employees of the Brazilian unit seeking to…
By Kanishka Singh WASHINGTON (Reuters) -A U.S. House of Representatives committee said on Thursday that it was investigating the Saudi Arabian government’s $2 billion investment with a firm of Jared Kushner, the son-in-law of former President Donald Trump. “The Committee on Oversight and Reform is investigating whether you (Kushner) have improperly traded on your government…
PUEBLO, Colo. (AP) — A slide on an 80-foot-high (24-meter-high) coal pile killed two workers Thursday at a southern Colorado coal-fired electricity generating plant, authorities said after a day-long search for the victims. Rescuers found the bodies of the two men buried beneath about 60 feet (18 meters) of coal in the towering pile at…
By Laura Sanicola (Reuters) -Oil rose more than 1% on Thursday after U.S. crude inventories fell more than expected amid high demand for fuel, shrugging off OPEC+’s agreement to boost crude output to compensate for a drop in Russian production. Prices were also supported by the European Union’s sixth package of sanctions against Russia, which…
(Reuters) – Nikola Corp’s founder Trevor Milton voted against the electric vehicle company’s proposal to issue new shares at the company’s annual general meeting, a Bloomberg News report on Thursday, citing sources. Milton’s vote, which threw the outcome into doubt, led to the decision to immediately adjourn the meeting, in order to allow the company…
(Reuters) – The Federal Reserve is likely to continue tightening monetary policy beyond the half percentage point interest rate hikes expected at each of its next two meetings, two policymakers signaled on Thursday, with the only question being how much. “Market pricing for 50 basis points potentially in June and July, from the data we…
By Carolina Mandl and Elizabeth Dilts Marshall NEW YORK (Reuters) -Goldman Sachs’ President and Chief Operating Officer John Waldron said on Thursday the current economic turmoil is one of the most challenging ones he has ever faced in his career. “This is among if not the most complex, dynamic environment I’ve ever seen in my…
WASHINGTON (AP) — Average long-term U.S. mortgage rates edged down slightly this week, though interest rates on the key 30-year home loan remain elevated. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked down to 5.09% from 5.1% last week. By contrast, the average rate stood at 2.99% a year ago. Until about…
Amazon said Thursday that it will shut down its digital Kindle bookstores in China and stop selling the device to retailers in the country to readjust the focus of its business. The company said in a post on the popular messaging app WeChat that the digital bookstore will stop operating on June 30, 2023. Customers…
