By Jody Godoy and Helen Coster (Reuters) – A Fox Corp shareholder sued Chairman Rupert Murdoch and four other board members on Tuesday, saying they failed to stop Fox News from reporting falsehoods about the 2020 U.S. presidential election that damaged its credibility and prompted lawsuits. Shareholder Robert Schwarz alleged in the lawsuit filed in…
TOKYO (Reuters) – Goldman Sachs Group Inc said on Wednesday it is launching its transaction banking business for corporate clients in Japan, as the U.S. investment bank expands in the world’s third-largest economy. Goldman, which received its Japanese banking license in 2021, will provide clients with treasury services including deposits, cash management and cross-border payments…
By Arathy Somasekhar (Reuters) – Oil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories, offsetting concerns about tightening supply ahead of output cuts by OPEC producers. In a sign of market tightness, U.S. crude futures have flipped into backwardation, with the…
(Reuters) – Several major U.S. banks who contributed a significant portion of the $30 billion in deposits to aid First Republic Bank last month, are now planning to bolster their reserves by setting aside around $100 million each, Bloomberg reported. The group includes JPMorgan Chase & Co, Wells Fargo & Co, Citigroup Inc and Bank…
By David Shepardson WASHINGTON (Reuters) -A major U.S. transport union on Tuesday opposed a request by Alphabet Inc’s self-driving unit Waymo and autonomous driving technology company Aurora Innovation Inc for an exemption from rules on warning devices for large semi-trucks, citing safety issues. The Federal Motor Carrier Safety Administration (FMCSA) said last month it received…
By Clara Denina and Muhammed Husain LONDON (Reuters) – Glencore Plc on Tuesday modified its $22.5 billion all-share takeover bid for Teck Resources Ltd’s to include up to $8.2 billion in cash, but Teck’s board called it “largely unchanged” and analysts said it will need to rise further still. Glencore’s play for Vancouver-based Teck comes…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Investment firm Pura Vida is wading into a boardroom battle at global aesthetics device company Cutera Inc by warning warring directors on Tuesday it may push ahead with steps to boost the company’s share price if they fail to settle their disagreements. Also on Tuesday, 10 company executives, including…
By David Shepardson WASHINGTON (Reuters) – The House of Representatives is set to vote next week on a bill to crack down on Chinese telecommunications companies Huawei and ZTE Corp that have been deemed security threats by the U.S. government. The House said on Tuesday it will take up a bipartisan bill called the Countering…
By Stephen Culp NEW YORK (Reuters) – Wall Street stocks ended mixed on Tuesday, losing steam late in the session as investors awaited crucial inflation data and the unofficial kick-off of first-quarter reporting season. The Dow closed in positive territory with economically sensitive sectors such as industrials, materials and transports providing a boost, while tech…
(Reuters) – A U.S. appeals court on Tuesday revived a lawsuit alleging HP Inc defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016. The 9th U.S. Circuit Court of Appeals reversed a judge’s ruling dismissing the lawsuit as filed too late. Investors say they did not…