DETROIT (AP) — A monitor appointed by a federal judge in the wake of a United Auto Workers bribery and embezzlement scandal contends that the union has been uncooperative by withholding information on additional misconduct allegations. The monitor, Neil Barofsky, made the assertion in his third report to Judge David Lawson in Detroit. Barofsky accused…
By Lisa Richwine LOS ANGELES (Reuters) -Netflix Inc on Tuesday averted its own worst-case scenario of subscriber losses, posting a nearly 1 million drop from April through June, and predicted it would return to customer growth during the third quarter. Shares, which have fallen roughly 67% this year on concerns about the company’s long-term prospects,…
By Echo Wang (Reuters) – U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline. The S&P 500 gained 2.8%, the highest close since June 9. The tech-heavy Nasdaq…
SACRAMENTO, California (AP) — After putting off routine health care for much of the pandemic, Americans are now returning to doctors’ offices in big numbers — a trend that’s starting to show up in higher insurance rates across the country. Health insurers in individual marketplaces across 13 states and Washington D.C. will raise rates an…
MOSCOW (AP) — Russian President Vladimir Putin said Tuesday it is the West’s own fault that the flow of Russian natural gas to European customers has dwindled and warned that it could continue ebbing. Putin’s statement further cranked up pressure on the European Union, which fears Russia could cut off gas to wreak economic and…
By Jonathan Stempel (Reuters) – A Florida jury found Tesla Inc 1% negligent in the death of an 18-year-old man whose Model S sedan slammed into a concrete wall, with the teenager and his father 99% at fault. Monday’s verdict by a Fort Lauderdale federal jury came in what lawyers for the teenager’s parents James…
By Jonathan Stempel (Reuters) – A Florida jury found Tesla Inc just 1% liable in the death of an 18-year-old man whose Model S sedan slammed into a concrete wall, but ordered Elon Musk’s electric car maker to pay $10.5 million to the driver’s parents. Monday’s verdict by a Fort Lauderdale federal jury came in…
By Divya Rajagopal TORONTO (Reuters) – Some Canadian businesses are reconsidering their expansion plans after the central bank’s surprise full percentage point interest rate hike last week, and instead are sharpening their focus on protecting profits, analysts say. The shock of sharp and sudden rise in borrowing costs comes as the Canadian companies are already…
Chipotle is closing a Maine store that had been leading efforts to unionize the chain. Employees at the Augusta, Maine, Chipotle filed a petition with the National Labor Relations Board in June asking to hold a union election at the store. It was the first of the Mexican food chain’s stores to file such a…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar slipped against the euro for a third straight session on Tuesday, following a Reuters story that European Central Bank policymakers are considering raising interest rates by a bigger-than-expected 50 basis points at their meeting on Thursday to tame record-high inflation. The rebound in the euro,…
