(Reuters) – British electric vehicle start-up Arrival SA said on Monday it had $130 million in cash and cash equivalents at the end of March, down nearly 37% from the end of December. The company, which did not provide any details on first-quarter results in its earnings release, said it has built three vans at…
NEW YORK (Reuters) – Central bank efforts to tame inflation could spark a recession and market selloff that later this year or in 2024 leads to investment opportunities, the BlackRock Investment Institute (BII) said on Monday. Increased market volatility is likely ahead over talks in Washington to raise the U.S. government’s $31.4 trillion borrowing cap….
By Jonathan Stempel NEW YORK (Reuters) -A federal appeals court on Monday rejected Elon Musk’s bid to modify or end his 2018 securities fraud settlement with the U.S. Securities and Exchange Commission that required a Tesla Inc lawyer to approve some of his tweets in advance. The 2nd U.S. Circuit Court of Appeals in Manhattan…
(Reuters) -The U.S. Department of Energy said on Monday it will purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August, and asked that offers be submitted by May 31. U.S. Energy Secretary Jennifer Granholm had signaled to lawmakers late last week that her department could start repurchasing oil…
By Leah Douglas WASHINGTON (Reuters) – Expanding work requirements for the largest U.S. food assistance program is still a “red line” in negotiations over raising the country’s debt ceiling to avert a looming default, Senate Agriculture Committee Chair Debbie Stabenow said Monday in an interview with Reuters. Republicans, whose party control the House of Representatives,…
By Blake Brittain (Reuters) – Genetic testing company Natera Inc convinced a Delaware federal jury on Monday to award it $19.3 million in damages from Invitae Corp’s ArcherDX for infringing patents related to cancer detection. The jury agreed with Natera that biotech company ArcherDX Inc’s blood-based DNA tests for detecting and monitoring cancer infringed three…
NEW YORK (Reuters) – A former civilian employee at a U.S. Army facility in South Korea has been arrested on charges of receiving $400,000 in kickbacks from military contractors, federal prosecutors in Manhattan said on Monday. Young Beom Kim, 62, was responsible for overseeing construction contracts at the Army Garrison Yongsan-Casey from 2017 to 2021….
By Michel Rose and Tassilo Hummel PARIS (Reuters) -President Emmanuel Macron met Tesla’s CEO Elon Musk, the boss of Pfizer and other business chiefs on Monday to urge them to pour money into France, and his office said the country was poised to win record foreign investment pledges. For Macron, whose popularity has suffered from…
By Diane Bartz and Jeffrey Dastin WASHINGTON (Reuters) -U.S. lawmakers are grappling with what guardrails to put around burgeoning artificial intelligence, but months after ChatGPT got Washington’s attention, consensus is far from certain. Interviews with a U.S. senator, congressional staffers, AI companies and interest groups show there are a number of options under discussion. The…
By David Shepardson WASHINGTON (Reuters) -General Motors said on Monday it will recall 42,000 sport utility vehicles in Canada from the 2014 through 2017 model years because the driver’s air-bag inflator may explode during deployment. On Friday, GM recalled 994,763 Buick Enclave, Chevrolet Traverse, and GMC Acadia vehicles in the United States from the 2014-2017…
