(This May 18 story has been corrected to say that the company will reduce its global workforce by 30%, not the U.S. workforce, in paragraph 1) (Reuters) – TuSimple Holdings Inc said on Thursday it will cut 30% of its global workforce under a restructuring as the autonomous driving technology company looks to preserve its balance…
By Tim McLaughlin WORCESTER, Massachusetts (Reuters) – Superiors of the U.S. Air National Guardsman accused of leaking military secrets offered him intelligence-related training even after they admonished him twice for his handling of classified information, according to a memo disclosed this week by U.S. Justice Department attorneys. Before his arrest in April on espionage charges, Jack…
KHARTOUM (Reuters) -Sudan’s capital Khartoum and sister city Bahri came under renewed air attack on Friday as the war between the army and paramilitary forces entered its fifth week, deepening a humanitarian crisis for trapped and displaced civilians. Mass looting by armed men and civilians alike is making life an even greater misery for Khartoum…
By Doina Chiacu and David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told bank CEOs on Thursday that more mergers may be necessary after a series of bank failures, CNN reported on Friday, citing two people familiar with the matter. A Treasury spokesperson declined to comment on the meeting with CEOs of the largest…
By Daphne Psaledakis WASHINGTON (Reuters) – The United States, Canada and the United Kingdom issued fresh sanctions on Russia on Friday over its invasion of Ukraine. Here are the main sanctions, announced during a G7 summit in Japan. U.S. TREASURY DEPARTMENT SANCTIONS The Treasury Department imposed sanctions on 22 people and 104 entities with touchpoints…
By Tatiana Bautzer, Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – Morgan Stanley’s James Gorman plans to step down as chief executive within a year but stay on as executive chairman, drawing to a close 13 years in the role during which he built the Wall Street firm into a wealth management powerhouse. Gorman,…
(Reuters) – Meta Platforms’ Instagram is planning to release a text-based app that will compete with Twitter and may debut as soon as June, Bloomberg News reported on Friday, citing people familiar with the matter. The Facebook parent is testing the product with influencers and some creators, according to the report. The company did not…
By Daphne Psaledakis and Simon Lewis WASHINGTON (Reuters) -The United States on Friday announced sanctions on more than 300 targets as Group of Seven leaders met in Japan, aiming to punish Russia for its invasion of Ukraine and intensifying one of the harshest sanctions efforts ever implemented. The move, which targets Russia’s sanctions evasion, future…
By Bhanvi Satija and Pratik Jain (Reuters) -Contract drug manufacturer Catalent Inc on Friday slashed its full-year forecasts for profit and sales and delayed its quarterly results for the third time, bruised by a series of missteps at its major production facilities. The company promised to take steps to correct the issues and said it…
By Marc Jones LONDON (Reuters) – The credibility and independence of central banks around the world is at risk if stubbornly-high global inflation rates are not bought under control, the head of the Bank for International Settlements has warned. The BIS, often referred to as the central bankers’ bank, has been calling for a robust…
