By Eric Onstad, Pratima Desai and Peter Hobson LONDON (Reuters) – JPMorgan Chase & Co has reduced lending to China’s Tsingshan, one of the world’s top nickel producers, while also paring back credit to other customers in Europe and Asia after a review of risk, sources close to the situation said. Tsingshan Holding Group was…
By Davide Barbuscia NEW YORK (Reuters) – Expectations of how aggressively the Federal Reserve will raise rates in its fight against inflation hit a fresh high this week, exacerbating pressures on stocks and bonds. As investors await another jumbo rate increase from the U.S. central bank at its Sept. 20-21 meeting, higher-than-expected inflation numbers have…
By Jonathan Stempel NEW YORK (Reuters) – Goldman Sachs Group Inc won the dismissal of a proposed class action by tens of thousands of employees over its alleged imprudent use of high-cost, underperforming in-house mutual funds as investment options in their retirement plan. U.S. District Judge Edgardo Ramos in Manhattan found no proof that Goldman’s…
By Laura Sanicola and Laila Kearney (Reuters) – Delta Air Lines Inc plans to start receiving shipments of renewable fuel feedstocks at its Trainer, Pennsylvania, refinery as part of a strategy that could reduce its environmental liabilities by hundreds of millions of dollars, according to three sources familiar with the matter. The move suggests a…
NEW YORK (AP) — Craig Newmark twists a “Batman” quote to jokingly refer to himself as “not the nerd you want, but maybe now and then I’m the nerd you need.” Newmark, the founder of Craigslist, has since retired from the pioneering website that made him ultra-rich by expanding the world of classified ads onto…
(Reuters) -Goldman Sachs Group Inc’s consumer banking unit is being reviewed by the Federal Reserve, Bloomberg Law reported on Friday, citing people familiar with the matter. Goldman’s management has been subjected to questions and follow-ups from the central bank’s officials for several weeks, the report said, adding that the process was still ongoing. (https://bit.ly/3BJcc1i) Goldman…
(Reuters) -Uber Technologies Inc said on Thursday it was investigating a cybersecurity incident, after a report that its network was breached, forcing the company to shut several internal communications and engineering systems. A hacker compromised an employee’s account on workplace messaging app Slack and used it to send a message to Uber employees announcing that…
By Shreyashi Sanyal and Medha Singh (Reuters) – U.S. stock index futures tumbled to two-month lows on Friday after a profit warning from global delivery bellwether FedEx spooked investors already worried about aggressive rate hikes from the Federal Reserve tipping the economy into a recession. Shares of FedEx Corp plunged 20.7% in premarket trading after…
MADRID (Reuters) – Carmakers Stellantis and Renault will partly halt their Spanish plants in the coming days and weeks as the lack of microchips persists, two union representatives told Reuters on Friday. The global chip shortage, caused by pandemic supply chaos and booming demand, has ravaged the automotive sector with many companies halting production temporarily….
BEIJING (AP) — China announced sanctions on Friday against the CEOs of American defense contractors Raytheon and Boeing Defense over a major U.S. arms sale to rival Taiwan. Foreign Ministry spokesperson Mao Ning did not specify what the sanctions would be against Gregory Hayes, chairman and CEO of Raytheon Technologies Corp., and Ted Colbert, president…
