DALLAS (AP) — U.S. airlines will have to pay more than they expected to reach new contracts with pilots, who are using the leverage of a pilot shortage and rising travel demand to seek significant wage increases. The Allied Pilots Association said Wednesday that its board voted 15-5 to reject an offer by American that…
The attorneys general of California, Illinois and the District of Columbia are suing Albertsons in an effort to stop the grocery chain from paying a nearly $4 billion dividend to its shareholders. The lawsuit, filed Wednesday in U.S. District Court in Washington, D.C., asks the court to block the payment until the attorneys general have…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Wednesday to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections. Powell suggested that the Fed may decide in coming months to slow its aggressive interest rate increases. Yet he also…
By Simon Jessop and Ross Kerber LONDON/NEW YORK (Reuters) – BlackRock, the world’s biggest asset manager, said on Thursday it would expand the number of clients eligible to choose how to vote at company annual meetings on everything from executive pay to climate strategy. The “Voting Choice” program announced last year by the $8 trillion…
BEIJING (Reuters) – Chinese electric vehicle maker Nio on Thursday confirmed production has resumed at its two factories in eastern Chinese city Hefei, after suspending it due to COVID-19 curbs. (Reporting by Beijing newsroom; Editing by Tom Hogue)
By Arpan Varghese SINGAPORE (Reuters) – Oil futures fell early on Thursday as the dollar firmed on the Federal Reserve’s hawkish stance, but concerns over looming supply risks kept a floor under prices. Brent crude shed 44 cents, or 0.5%, to $95.72 a barrel at 0146 GMT, while U.S. West Texas Intermediate (WTI) crude futures…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was on the front foot on Thursday after Federal Reserve Chair Jerome Powell signalled U.S. rates would likely rise further than expected, disappointing traders’ hopes for a change in tone, and shifting the focus to Friday’s jobs data. The dollar hit a week-high of $0.9810 per euro…
By Sergio Goncalves LISBON (Reuters) -Mark MacGann, the whistleblower behind the so-called Uber Files, said on Wednesday that the ride-hailing company seemed to be taking steps toward improving its work culture, but that its business model was still “absolutely” unsustainable. The Guardian and Le Monde newspapers reported in July that Uber Technologies Inc broke laws…
By Chavi Mehta and Jane Lanhee Lee (Reuters) -Qualcomm Inc’s forecast for holiday-quarter revenue fell about $2 billion short of Street estimates, as the chipmaker struggles with a slump in sales to smartphone customers, sending its shares down 7% in after-hours trading. The company also projected a lower-than-expected profit for the quarter, and said it…
(Reuters) – MetLife Inc on Wednesday reported a 53% drop in third-quarter profit as economic pressures and a global market rout led to weaker returns from the U.S. insurer’s investments. The company’s U.S. unit saw a 17% decline in adjusted profit, while the Asia segment recorded a 65% slump. Fewer claims tied to COVID-19 as…
