Starbucks said Wednesday it will reinstate seven employees who were fired in February after leading an effort to unionize their Memphis store. The seven will get their jobs back after the Seattle-based coffee giant lost an appeal of a lower court’s order to reinstate them. Starbucks said the employees violated company policy by reopening the…
By Stephen Nellis (Reuters) -Apple Inc on Wednesday showed a trio of new Apple Watches, including a new Watch Ultra model aimed at extreme sports and diving, testing its user base’s willingness to keep snapping up new products amid a weakening global economy. The Watches made their debut at an event called “Far Out” at…
By Howard Schneider WASHINGTON (Reuters) – The U.S. Federal Reserve will maintain tight monetary policy “for as long as it takes to get inflation down” Fed Vice Chair Lael Brainard said Wednesday in the central bank’s latest affirmation that fighting price pressures is its chief priority. “At some point,” Brainard said, the risks that Fed…
Movie theater operator Cineworld Group LLC has filed for Chapter 11 bankruptcy protection in the U.S. as it deals with billions of dollars in debt and lower-than-expected attendance at screenings. “The pandemic was an incredibly difficult time for our business, with the enforced closure of cinemas and huge disruption to film schedules that has led…
WASHINGTON (AP) — The Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period, a top Fed official said Wednesday. In her remarks to a banking industry conference, Fed Vice Chair Lael Brainard echoed similarly tough comments about inflation…
By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) -The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a major U.S. bank regulator, warned on Wednesday. “I believe fintechs and big techs are having a large impact…
Elon Musk will be able to include new evidence from a Twitter whistleblower as he fights to get out of his $44 billion deal to buy the social media company, but Musk won’t be able to delay a high-stakes October trial over the dispute, a judge ruled Wednesday. Chancellor Kathaleen St. Jude McCormick, the head…
(Corrects to clarify Nissan will buy all shares from INCJ) TOKYO (Reuters) – Japan’s Nissan Motor Co said on Wednesday it has agreed to acquire Vehicle Energy Japan Inc, a lithium-ion battery maker. Nissan will acquire all the common shares of the company held by the Innovation Network Corporation of Japan (INCJ), a state-backed fund,…
CUPERTINO, Calif. (AP) — Apple’s latest line-up of iPhones will boast better cameras, faster processors, and a longer lasting battery — all at the same prices as last year’s models, despite inflationary pressure that has driven up the cost of many other everyday items. That pricing decision, revealed Wednesday during Apple’s first in-person product event…
By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) – U.S. regulators should assess a range of climate scenarios when gauging banks’ exposure to climate change risks rather than pursuing standardized stress tests, a top U.S. bank regulator said on Wednesday. Michael Hsu, the acting Comptroller of the Currency, said there is an urgent need…
