By David Shepardson (Reuters) -Ford Motor Co and General Motors will each halt production next week at a Michigan plant due to parts shortages, the two companies said separately on Thursday. No. 2 U.S. automaker Ford said it would suspend production at its Flat Rock Assembly Plant next week, where it builds the Mustang, due…
(Reuters) -Video game retailer GameStop Corp said on Thursday it would seek shareholder approval for a stock split, aiming to become the latest U.S. company to make it easier for retail investors to own its shares. The move comes after retail investor interest in so-called ‘meme stocks’ flared up in the last two weeks, leading…
By Jonathan Stempel NEW YORK (Reuters) – A federal judge on Thursday dismissed a long-running antitrust lawsuit accusing 10 of the world’s largest banks of pursuing two interrelated conspiracies to suppress competition in the now $23.2 trillion market for U.S. Treasury securities. U.S. District Judge Paul Gardephe in Manhattan said the 18 plaintiffs — including…
WASHINGTON (Reuters) – The U.S. Justice Department asked a federal court in Denver on Thursday to drop price-fixing charges filed against five executives of chicken producing companies after two mistrials in the case focused on competition in the $65 billion poultry sector. The department, however, did not drop charges against five other defendants. Judge Philip…
By Koh Gui Qing NEW YORK (Reuters) -Global stocks dropped on Thursday with U.S. shares sinking over 1.5%, as concerns about a recession and the Russian-Ukranian war spurred selling, while oil prices plunged over $6 as Washington launched a record release from its emergency oil reserves. The declines pushed U.S. and European stocks into their…
(Reuters) -The Russian rouble strengthened for a ninth straight session in Moscow, ending near 83 per dollar on Thursday, and stocks jumped higher as some curbs on short selling were lifted, with the market focused on the effects of Moscow’s demand that its gas exports be paid for in roubles. The rouble ended 1.6% stronger…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks closed out the first quarter on a down note on Thursday with its biggest quarterly decline in two years as concerns persisted about the continuing conflict in Ukraine and its inflationary effect on prices and the Federal Reserve’s response. While optimism about a possible peace deal…
DALLAS (AP) — President Joe Biden is again dipping into the nation’s petroleum stockpile to try to corral rising energy prices. The White House announced Thursday that Biden ordered the daily release of 1 million barrels of oil from the strategic petroleum reserve for the next six months. Biden will also ask Congress to penalize…
By Huw Jones and Tom Wilson LONDON (Reuters) -European Union lawmakers backed new safeguards for tracing transfers of bitcoin and other cryptocurrencies on Thursday, in the latest sign that regulators are tightening up on the freewheeling sector. Two committees in the European Parliament jointly voted by 93 in favour and 14 against on cross-party compromises…
HAMBURG (Reuters) -Audi and Porsche owner Volkswagen is likely to give the green light for the two brands to make their entry into motor racing’s Formula One at a meeting next week, two sources familiar with the matter said on Thursday. “We will hopefully be able to communicate our intention to enter into Formula One…
