OTTAWA (Reuters) – Automaker Stellantis has stopped all construction at a more-than C$5 billion ($3.74 billion) electric vehicles battery manufacturing plan in Windsor, Canada over a disagreement with the federal government about subsidies, a spokesperson for the company said on Monday. “As of today, the Canadian Government has not delivered on what was agreed to…
WASHINGTON (Reuters) – XCast Labs, a company accused of helping make billions of illegal robocalls, was sued on Friday by the U.S. Federal Trade Commission, which asked the court to order the company to stop the practice. XCast, a Voice over Internet Protocol (VoIP) provider, is accused of helping other companies, at least one of…
By David Shepardson WASHINGTON (Reuters) – A group of U.S. Tesla Model S and Model X owners filed a proposed class-action lawsuit against the electric vehicle maker in California Friday over automatic software updates that reportedly decreased driving range or cause battery failures. The lawsuit claims Tesla’s updates and their effects violate state and federal…
WASHINGTON (Reuters) -Google, a unit of Alphabet, has agreed to pay $8 million to settle claims it used deceptive advertisements to promote the Pixel 4 smartphone, Texas Attorney General Ken Paxton announced on Friday. The search and advertising giant, which also makes Android smartphone software and owns YouTube, has been scrutinized for antitrust and consumer…
By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase & Co on Friday asked a federal judge to deny class-action status to more than 100 women who said the bank helped enable the late financier Jeffrey Epstein to sexually abuse them. In a filing in Manhattan federal court, the largest U.S. bank said Epstein’s accusers…
By Kannaki Deka (Reuters) – U.S. private equity firm TPG Inc said on Monday it would buy alternative investment firm Angelo Gordon in a deal valued at $2.7 billion as it looks to bolster its credit investing business. Major private equity firms have been expanding beyond their mainstay business as the equity funding market loses steam….
By Blake Brittain WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear Teva Pharmaceuticals USA Inc’s challenge to a $235 million award to GlaxoSmithKline LLC in a patent dispute over generic drugs involving a heart medication. The justices turned away Israel-based Teva’s appeal of a lower court’s ruling reinstating the jury award…
BRUSSELS (Reuters) – Europe is not in danger of a real estate or debt crisis as a result of the rapid rise in European Central Bank interest rates, Economic Commissioner Paolo Gentiloni said on Monday. The ECB has raised rates by a combined 375 basis points since July to curb inflation which hit double digits…
PARIS (Reuters) – Morgan Stanley’s plan to increase headcount in France by 200 by 2025 would bring its total staff in the country to 500, with the new Paris-based bankers mostly devoted to sales and trading of so-called macro products and stock derivatives. Macro products usually refer to the trading of fixed income and currency-related…
By Yadarisa Shabong and Richa Naidu (Reuters) -British American Tobacco appointed finance director Tadeu Marroco as CEO on Monday, succeeding Jack Bowles who is stepping down after about four years. Marroco started working for the tobacco firm in Brazil in 1992 and was appointed to the board in 2019. Bowles, who also joined the board…
