By Nandita Bose and Jarrett Renshaw WASHINGTON (Reuters) – U.S. President Joe Biden has publicly criticized oil and gas executives for banking big profits from high gasoline prices but he has rarely spoken directly to the heads of energy companies or their representatives, White House records and interviews with industry sources show. Biden said at…
PARIS (Reuters) – Carmaker Stellantis will halt production at its Rennes-La Janais Citroen plant in Brittany July 3 due to a chip shortage, a spokesperson told Reuters on Wednesday, confirming French media reports. Another production halt at the Sochaux Peugeot plant in eastern France was extended until the end of next week, Stellantis added, also…
By Chibuike Oguh NEW YORK (Reuters) – Private equity firm TPG Inc agreed to acquire all the outstanding shares of Convey Health Solutions Holdings it does not already own, in an all-cash transaction announced on Tuesday. TPG, which currently owns about 75% of Convey Health, will pay $10.50 per share in cash for the Fort…
NEW YORK (AP) — Walmart is expanding health care coverage for employees who want to enlist the services of a doula, a person trained to assist women during pregnancies, to address racial inequities in maternal care. After first offering doulas to employees in Georgia last year, the nation’s largest retailer said Wednesday that it will…
BRUSSELS (AP) — European Union lawmakers stepped up the fight against global warming Wednesday by requiring deeper emission cuts from power plants, factories and planes in the EU and by endorsing an unprecedented import tax. The European Parliament advanced draft climate legislation that would slash the EU greenhouse gases by at least 55% in 2030…
MOSCOW (Reuters) -Alphabet’s Google faces a second fine of 5-10% of its turnover in Russia for what the state communications regulator said on Wednesday was a repeated failure to delete banned content, including “misleading information” on YouTube about events in Ukraine. Russian bailiffs in May seized more than 7.7 billion roubles ($143 million) from Google…
PRAGUE (AP) — The Czech Republic’s central bank once again raised its key interest rate significantly Wednesday as it tried to combat soaring inflation. The hike of a percentage point and a quarter brought the interest rate to 7%, the highest level since early 1999. It was the ninth straight increase since June 2021. The…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession. Testifying to the Senate Banking Committee, Powell faced skeptical questions from members of…
By Padraic Halpin, Conor Humphries and Richa Naidu DUBLIN/LONDON (Reuters) – Global retailers and consumer goods makers remain in crisis mode and expect consumer behavior to remain unpredictable for the foreseeable future, top industry executives told a conference in Dublin this week. Since the start of 2020, the STOXX Europe 600 Retail EUR Price Index…
By David Shepardson WASHINGTON (Reuters) – Major automakers and industry suppliers on Wednesday urged Congress to move quickly to pass $52 billion in subsidies for U.S. semiconductor production, according to a letter seen by Reuters. A persistent shortage of chips has disrupted the automotive and electronics industries, forcing some firms to scale back production. The…
