By Daniel Wiessner (Reuters) – A union for U.S. federal government employees filed a lawsuit on Monday claiming a law setting a $31.4 trillion debt ceiling is unconstitutional as political leaders seek to avoid a historic default expected as soon as next month. The National Association of Government Employees (NAGE) says the debt limit law…
By David Shepardson WASHINGTON (Reuters) -A group of seven U.S. senators on Monday questioned Tesla Inc’s use of forced arbitration clauses in employee and consumer contracts, arguing that they prevent bringing discrimination claims and consumer safety complaints to court. The letter, whose authors include Senator Richard Blumenthal, a Democrat, to CEO Elon Musk cited numerous…
By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) -A gauge of global equity markets rose and the dollar was mostly flat on Monday as expected talks in Washington about the debt ceiling raised concerns, while U.S. inflation data later this week should add clarity on Federal Reserve monetary policy. Treasury yields rose on increased…
(Reuters) – Russia launched its biggest swarm of drones for months against Ukraine on the eve of Russia’s May 9 holiday celebrating the defeat of Nazi Germany in 1945, striking the capital Kyiv, the Black Sea city of Odesa and shelling other cities. CONFLICT * In a new break with Moscow, Ukraine marked the anniversary…
By Niket Nishant and Chibuike Oguh (Reuters) -PacWest Bancorp shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender’s decision to slash its quarterly dividend failed to stem worries about its financial stability. PacWest announced on Friday it would pay a dividend of just 1 cent per…
By Joseph Ax NEW YORK (Reuters) -The Associated Press won two Pulitzer Prizes on Monday, including the distinguished public service award, for its coverage of the war in Ukraine, while the New York Times earned the international reporting honor for its stories about the Russian invasion. Washington Post reporter Caroline Kitchener won the national reporting…
By Jonathan Stempel (Reuters) -The media entrepreneur Byron Allen has filed a second lawsuit against McDonald’s Corp over the fast-food chain’s alleged refusal to advertise with Black-owned media. In a complaint filed last week in Los Angeles, Allen’s Entertainment Studios Networks Inc and Weather Group LLC said McDonald’s “lied” when it pledged in May 2021…
(Reuters) -Shale oil producer Devon Energy on Monday topped Wall Street estimates for first-quarter profit on high demand for crude oil, and raised its share repurchase program by 50% to $3 billion. Energy companies have started boosting investor returns since last year with the excess cash they generated aided by higher crude prices. While crude…
(Reuters) – Memory chip firm Western Digital Corp forecast fourth-quarter revenue below Wall Street estimates and a bigger current-quarter loss, signaling that memory chip demand will take longer to recover as cloud spending also shrinks. The company’s shares fell about 1% in extended trading. Chipmakers across the board including Intel Corp have said cloud spending…
By Gleb Garanich and Valentyn Ogirenko KYIV (Reuters) -Russia launched its biggest swarm of drones for months against Ukraine on Monday, the eve of Russia’s May 9 holiday celebrating the defeat of Nazi Germany in 1945, striking the capital Kyiv and the Black Sea city of Odesa and shelling other cities. Kyiv’s mayor said Russia…
