SEOUL (Reuters) -South Korea’s President Yoon Suk-yeol granted a pardon for Samsung Electronics Vice Chairman Jay Y. Lee to help overcome a “national economic crisis”, South Korea’s Justice Ministry said on Friday. The pardon is largely symbolic, with Lee already out on parole after serving 18 months in jail for bribery relating to his time…
By Rae Wee and Vidya Ranganathan SINGAPORE (Reuters) – The Japanese yen fell the most against a resurgent U.S. dollar on Friday, as a two-day rally in equities conceded to market expectations that the Fed will have to do a lot more to contain inflation. That realisation followed speeches and statements from a bunch of…
SAO PAULO (Reuters) -Brazil’s Petrobras said on Thursday it has begun the process of looking for bidders for its potassium mining rights in the Amazon basin. The asset is composed of eight mining concessions, four mining requests already granted and 22 requests for research which are still pending authorization. Interest in potash mines in Brazil…
Federal work-safety investigators are looking into the death of an Amazon worker and an injury that potentially led to the death of another employee, adding to a probe already underway following a third fatality during the company’s annual Prime Day shopping event in mid-July. All three Amazon workers died within the past month and were…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly said on Thursday that a 50 basis point interest rate hike in September “makes sense” given recent economic data including on inflation, but that she is open to a bigger rate hike if data warrants. Saying that she does not want to be “headfaked” by…
HOUSTON (Reuters) – HOUSTON, Aug 11 (Reuters) – U.S. oil refiner Citgo Petroleum on Thursday reported a second quarter profit that surged to $1.28 billion on higher crude processing volumes and stronger margins. The eighth largest U.S. oil refiner’s three plants processed 776,000 barrels of oil per day (bpd), up from 732,000 bpd a year…
WASHINGTON (AP) — Whether it’s the fitness tracker on your wrist, the “smart” home appliances in your house or the latest kids’ fad going viral in online videos, they all produce a trove of personal data for big tech companies. How that data is being used and protected has led to growing public concern and…
NEW YORK (AP) — World Central Kitchen founder Jose Andres, Jordan’s Queen Rania, BlackRock CEO Larry Fink and “Hamilton” creator Lin-Manuel Miranda will help relaunch the Clinton Global Initiative in September, when the gathering of international dignitaries returns after six years. The two-day meeting Sept. 19 and 20 in New York is built around a…
By David Shepardson WASHINGTON (Reuters) – California’s High-Speed Rail Authority said Thursday it won $25 million in new federal grant funding to advance its project beyond 119 miles under construction, while pursuing an additional $1.3 billion award. The U.S. Transportation Department (USDOT) grant will provide more than half of the estimated $41 million for a…
(Reuters) – A U.S. appeals court upheld a 2020 ruling that tossed out a racketeering lawsuit General Motors Co filed against rival Fiat Chrysler Automobiles (FCA), now part of Stellantis NV, and former executives. GM filed the racketeering lawsuit in November 2019, alleging FCA bribed United Auto Workers (UAW) union officials over many years to…
