By Michael Martina WASHINGTON (Reuters) – A U.S. congressional war game simulating a Chinese invasion of Taiwan showed the need to arm the island “to the teeth,” the chair of a committee on China said on Thursday, after the exercise indicated the U.S. must boost production of long-range missiles and businesses must brace for economic…
WASHINGTON (Reuters) – The U.S. Justice Department said on Thursday it reached a settlement with memory chipmaker Micron Technology Inc to resolve an allegation of immigration-related employment discrimination. “The settlement resolves the department’s determination that Micron violated the Immigration and Nationality Act (INA) by discriminating against a U.S. citizen when it failed to hire him…
By Karin Strohecker, Dhara Ranasinghe and Davide Barbuscia LONDON/NEW YORK (Reuters) -Market jitters over the U.S. debt ceiling lifted the cost of insuring exposure to its debt to the highest level in over a decade on Thursday, while JPMorgan warned of a “non-trivial risk” of a technical default on U.S. Treasuries. A showdown over U.S….
By Elisa Anzolin VALVIGNA, Italy (Reuters) – Italy’s Prada is planning to spend 60 million euros ($66 million) on industrial capital investments this year, a large chunk of which will help double the size of its knitwear factory in Torgiano, in the central region of Umbria, the luxury group’s industrial director said on Thursday. Prada,…
By Dietrich Knauth (Reuters) -U.S. veterans and members of the military on Wednesday urged a judge to dismiss 3M’s bid to use the bankruptcy of its subsidiary Aearo Technologies to shield itself from nearly 260,000 lawsuits over military-issue earplugs that former users allege were defective and damaged their hearing. 3M and Aearo say the earplug…
WASHINGTON (Reuters) – The U.S. banking system remains sound and the U.S. government will take “any necessary steps” to keep it the strongest and safest financial system in the world, U.S. Treasury Secretary Janet Yellen said on Thursday. Yellen said decisive U.S. actions taken after the failure of two regional banks had shored up the…
By Ariba Shahid and Mubasher Bukhari KARACHI, Pakistan (Reuters) – Retail sales in Pakistan have witnessed a sharp drop compared to previous years in the run up to the Muslim holiday of Eid al-Fitr, retailers say, as shoppers feel the pinch of decades-high inflation. The lead up to Eid al-Fitr, expected to fall on Saturday…
By Siddarth S and Niket Nishant (Reuters) – American Express Co’s profit missed Wall Street estimates on Thursday despite higher spending by its customers as the credit card giant kept aside a large sum to cover potential defaults and spent more on promotions. Shares fell as much as 7% to a near three-month low of…
By Gabriela Baczynska BRUSSELS (Reuters) – European Union lawmakers voted on Thursday to require member countries to host some of the refugees and migrants coming to the bloc at times of high arrivals, part of a fiercely contested reform due ahead of a 2024 pan-European election. The European Parliament adopted its position on the looming…
By Manya Saini (Reuters) – A clutch of U.S. regional lenders on Thursday joined peers in reporting deposit outflows for the first quarter as customers spooked by a banking crisis moved funds to bigger institutions or sought higher yields in money market funds. Shares in Fifth Third Bancorp, Comerica, Truist Financial Corp and KeyCorp fell…
