By David Shepardson WASHINGTON (Reuters) -A key U.S. lawmaker is proposing an extension of a certification deadline for two new versions of Boeing’s 737 MAX and requiring retrofitting existing planes, according to a document reviewed by Reuters. Boeing is seeking an extension from Congress of a December deadline imposing a new safety standard for modern…
(Reuters) – Silicon Valley leaders welcomed Elon Musk’s management of Twitter, with Netflix co-founder Reed Hastings going so far as to call the billionaire “the bravest, most creative person on the planet.” Meta Platforms CEO Mark Zuckerberg on Wednesday said he was keen to see how Elon Musk’s management of content moderation on Twitter would…
LONDON (AP) — A top European Union official warned Elon Musk on Wednesday that Twitter needs to beef up measures to protect users from hate speech, misinformation and other harmful content to avoid violating new rules that threaten tech giants with big fines or even a ban in the 27-nation bloc. Thierry Breton, the EU’s…
(Reuters) – The head of Meta Platforms’ business group said on Wednesday that the holiday shopping season started earlier than usual this year and produced a Black Friday sales weekend that appeared to be the biggest on record. Consumers anxious about supply shortages were stocking up early on desired gifts, while businesses with excess inventory…
DoorDash is eliminating about 1,250 corporate jobs, or about 6% of its workforce, saying it hired too many people when delivery demand surged during the COVID-19 pandemic. CEO Tony Xu said in a message to employees Wednesday that DoorDash was undersized before the pandemic and sped up hiring to catch up with its growth. “Most…
WASHINGTON (AP) — The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday in remarks likely intended to underscore the Fed’s single-minded focus on combating stubborn inflation. Yet in a speech at the Brookings Institution, Powell also signaled that the Fed may…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve could scale back the pace of its interest rate hikes “as soon as December,” Fed Chair Jerome Powell said on Wednesday, while cautioning the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately…
By Rachel Savage and Bhargav Acharya JOHANNESBURG (Reuters) – Zambia is pushing hard to complete the restructuring of nearly $15 billion of external debt in the first quarter of 2023 and is “in active engagement” with its largest bilateral creditor China, Zambia’s finance minister said in an interview at the Reuters NEXT conference. Zambia defaulted…
By Leigh Thomas PARIS (Reuters) – French President Emmanuel Macron will use a state visit to Washington this week to press European Union concerns about the United States’ huge new green energy subsidy package. While EU countries welcome the new commitment to energy transition, they fear the $430 billion Inflation Reduction Act will put their…
By Hannah Lang (Reuters) -A Democratic senator and chair of a key committee on Wednesday pressed U.S. Treasury Secretary Janet Yellen for help in securing legislation to better regulate cryptocurrency, the latest sign of pressure for tougher regulations following the collapse of crypto exchange FTX. Senator Sherrod Brown of Ohio also urged the Financial Stability…
