WILMINGTON, Del. (AP) — The head of Tesla’s board of directors testified Tuesday in a shareholder lawsuit challenging a 2018 compensation plan for CEO Elon Musk potentially worth more than $55 billion that she was less concerned about how much time Musk would commit to the company than in the results he could bring. “We…
By Herbert Lash NEW YORK (Reuters) – Stocks pared gains and the dollar rebounded against the euro after media reports that Russian missiles killed two people in Poland, a strike that raised fears the nine-month Ukraine war could escalate. The Dow Industrials straddled break-even and the dollar also see-sawed to trade little changed as firefighters…
WASHINGTON (Reuters) – The Biden administration is asking Congress for $9.25 billion to fight COVID-19 and an additional $37.7 billion to support Ukraine in its war with Russia as part of a supplemental funding request, U.S. officials said on Tuesday. The administration is also requesting $750 million to fight other infectious diseases and will be…
WASHINGTON (Reuters) – The United States on Tuesday imposed sanctions on companies it accused of being involved in the production of or transfer to Russia of Iranian drones that have been used in attacks on civilian infrastructure in Ukraine. The U.S. Treasury Department in a statement said it imposed sanctions on the Shahed Aviation Industries…
(Reuters) -Michael Barr, the Federal Reserve’s top financial regulatory official, on Tuesday said he is concerned about risks from the non-bank sector, including cryptocurrencies, for which the U.S. central bank and other regulators have poor visibility. “We’re concerned about the risks that we don’t know about in the non-bank sector,” Barr said in response to…
DETROIT (AP) — Gas-electric hybrids were the most dependable vehicles sold in the U.S. in the past year, while big pickup trucks and fully electric automobiles performed the worst in Consumer Reports’ annual reliability survey. Hybrids generally are tried-and-true designs with few frills, while automakers are cramming glitchy electronic features into expensive new pickups and…
By Leah Douglas (Reuters) – Hormel Foods’ labeling of a meat product line as “natural” despite using the same hogs and production methods as its other brands shows the U.S. meat labeling system needs reforms, said consumer advocates and documents released on Tuesday from a lawsuit the company is close to settling. The false advertising…
NAIROBI, Kenya (AP) — A multi-story residential building under construction collapsed Tuesday in the Kenyan capital, Nairobi. There was no immediate official word on any casualties. Construction workers are feared trapped under the rubble and rescue operations have begun. A report in the local media cited residents of the Kasarani suburb who said the building…
TIRANA, Albania (AP) — Albania’s prime minister said Tuesday that Britain is carrying out a “calculated attack” on his country by blaming it for the increased number of migrants crossing the English Channel. Edi Rama said that the new U.K. Cabinet was scapegoating Albanians because it “has gone down a blind alley with its new…
By Howard Schneider WASHINGTON (Reuters) – Prices paid by U.S. businesses rose less than expected in October with some key components registering an out-and-out decline, another sign inflation may be easing and another data point in favor of a slower pace of Federal Reserve rate increases. The Producer Price Index measures inflation at the firm…
