By Jonathan Stempel (Reuters) – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Wednesday said China remains a top opportunity for investors despite geopolitical risks. Munger also doubled down on his recent Wall Street Journal editorial calling for the U.S. government to follow China and ban cryptocurrency, saying “people…
WASHINGTON (Reuters) -U.S. House Judiciary Committee Chairman Jim Jordan on Wednesday subpoenaed the chief executives of Alphabet, Amazon, Apple, Facebook and Instagram parent Meta Platforms, and Microsoft for documents and communications relating to free-speech issues. Jordan and other conservatives accused the companies of suppressing conservative speech during the Trump administration, and expanded that accusation to…
WASHINGTON (Reuters) – Chrysler-parent Stellantis is recalling 340,000 diesel Ram pickup trucks to replace an electrical connector after reports of six fires, and recommends parking the vehicles outside until repairs are made. The company’s U.S. unit FCA US discovered that a part on some trucks may overheat and in rare instances may pose a fire…
WASHINGTON (Reuters) – World Bank President David Malpass will step down on June 1 after more than four years at the helm of the multilateral development bank, the bank said on Wednesday. It was not immediately clear why Malpass, who was appointed by then-President Donald Trump, was departing before the end of his five-year term….
(Reuters) – Airbus said on Wednesday it appointed Thomas Toepfer as its new chief financial officer. He will join the group on Sept. 1, it said in a statement. The world’s largest planemaker said current CFO Dominik Asam will leave on March 3, and be replaced by Xavier Tardy – Executive Vice-President Finance for Airbus…
By Ilona Wissenbach and Hakan Ersen FRANKFURT (Reuters) -An IT failure at Lufthansa stranded thousands of passengers and forced flights to Germany’s busiest airport to be cancelled or diverted on Wednesday, with the airline blaming botched railway engineering works that damaged broadband cables. More than 200 flights were cancelled in Frankfurt, a vital international transit…
(Reuters) – Boeing Co’s finance chief said on Wednesday at a Cowen conference that the planemaker was still facing parts shortages as the supply chain was not stable and predictable. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Shinjini Ganguli)
By Johann M Cherian and Sruthi Shankar (Reuters) – Wall Street’s main stock indexes fell on Wednesday after stronger-than-expected retail sales data offered more evidence of resilience in the U.S. economy, fueling worries that the U.S. Federal Reserve could stick to its rate-hike campaign. A Commerce Department report showed retail sales surged 3% in January,…
WASHINGTON (Reuters) – Production at U.S. factories rebounded in January, but output in the prior month was much weaker than initially thought amid higher borrowing costs that are hurting the manufacturing sector. Manufacturing output increased 1.0% last month, the Federal Reserve said on Wednesday. Data for December was revised down to show production at factories…
(Reuters) – The New York Federal Reserve said on Wednesday its barometer of manufacturing activity in New York State contracted for a third straight month in February, but not by as much as economists had expected as orders and shipments stabilized. The regional Fed’s “Empire State” index on current business conditions rose to -5.8 this…
