(Corrects to clarify Howard Schultz’s designation in the fourth paragraph) (Reuters) – Starbucks Corp violated federal law by refusing to fairly negotiate with workers at dozens of newly-unionized cafes across the country, Bloomberg News reported on Monday, citing prosecutors from the National Labor Relations Board (NLRB). The general counsel of the NLRB determined that the…
By Xie Yu HONG KONG (Reuters) – Global stocks and U.S. bond yields rose on Tuesday, as a U.S. regulator-backed deal by First Citizens BancShares to buy failed Silicon Valley Bank soothed wider worries about problems in the sector. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.3% by early morning Hong Kong…
TOKYO (Reuters) – Japan will sign a mineral supply chain agreement with the United States that will give U.S. tax incentives for electric vehicles made with metals processed in Japan, trade minister Yasutoshi Nishimura told reporters on Tuesday. The U.S. last June announced a multinational pact called Minerals Security Partnership with Japan, Canada and other…
By Rachel Savage JOHANNESBURG (Reuters) – China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building “Belt & Road” infrastructure, according to a study published Tuesday. Almost 80% of the rescue lending was made between 2016…
By Daniel Wiessner (Reuters) – A trial kicked off in San Francisco federal court on Monday to determine how much money Tesla Inc must pay to a Black elevator operator whom a jury determined was subjected to severe racial harassment while working at the electric auto maker’s flagship assembly plant. A lawyer for plaintiff Owen…
By Joey Roulette (Reuters) – Billionaire Richard Branson’s cash-strapped Virgin Orbit Holdings will extend an unpaid furlough for most of its employees as talks seeking new funding continue, the company’s chief executive said in an email to employees on Monday. “Our investment discussions have been very dynamic over the past few days, they are ongoing,…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian markets could rebound on Tuesday from their sluggish start to the week, after a deal to buy the assets of stricken U.S. bank Silicon Valley Bank (SVB) prompted a relief rally in financials and allayed fears of…
By Chris Prentice and Pete Schroeder WASHINGTON (Reuters) – A U.S. banking regulator is investigating potential misconduct on the part of executives and others involved in the failures of Silicon Valley Bank and Signature Bank. Federal Deposit Insurance Corporation Chairman Martin Gruenberg said in prepared testimony to Congress that the agency had begun investigations into…
LONDON (Reuters) – Amazon.com Inc has lost a bid to throw out three sample lawsuits brought by British delivery drivers seeking employment rights including the minimum wage and holiday pay. More than 1,400 drivers who deliver Amazon parcels are suing in a London employment tribunal, arguing they should be classed as employees rather than self-employed…
WASHINGTON (Reuters) – The White House said on Monday that the U.S. banking system is safe despite stress on some institutions after two American banks collapsed, ratcheting up fears of a contagion that prompted U.S. officials to respond. “Because of the decisive actions that we have seen … from our administration, the banking regulators and…
