By Manya Saini and Chibuike Oguh (Reuters) -Shares of U.S. banks rose on Tuesday after a smaller-than-expected rise in inflation data indicated that the Federal Reserve is likely to keep interest rates unchanged this week, while Wells Fargo’s net interest income outlook also boosted investor optimism on the sector. U.S. consumer prices barely rose in…
By Karl Plume and Anirban Sen CHICAGO (Reuters) -U.S. grains merchant Bunge and Glencore-backed Viterra are merging to create an agricultural trading giant worth about $34 billion including debt, the companies said on Tuesday, in a deal that will likely draw close regulatory scrutiny. The deal brings the combined company closer in global scale to…
By Keith Coffman and Brendan O’Brien DENVER (Reuters) -Ten people were wounded in an apparently drug-related shooting in downtown Denver on Tuesday after basketball fans poured onto city streets to celebrate the Denver Nuggets winning their first NBA championship, police said. Two suspects were taken into custody, including one man wounded in the gunfire, which…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China’s central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session. The rate cut is aimed at adding momentum to a hesitant…
By Noel Randewich and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday. Nvidia jumped 3.9%, becoming the first chipmaker to end a…
By Joseph White and Norihiko Shirouzu DETROIT/AUSTIN, Texas (Reuters) -Automaker Stellantis said on Tuesday that it continues to evaluate Tesla’s charging standard after Ford Motor Co and General Motors Co said they were adopting it. “At this time, we continue to evaluate the NACS standard and look forward to discussing more in the future,” Stellantis…
CHICAGO (Reuters) – Tyson Foods, which is seeking to cut costs, will lay off 228 corporate employees in Illinois who declined to relocate to the meatpacker’s Arkansas headquarters, the company confirmed on Tuesday. Tyson said it will eliminate 177 employees from an office in downtown Chicago and 51 employees in suburban Downers Grove, Illinois, starting…
By David Shepardson WASHINGTON (Reuters) – U.S auto safety regulators told nearly two dozen major automakers on Tuesday not to comply with a Massachusetts vehicle telematics law, saying it poses significant safety concerns. The National Highway Traffic Safety Administration (NHTSA) said in a letter to major automakers they must comply with a federal vehicle safety…
By Dietrich Knauth NEW YORK (Reuters) -A 3M subsidiary appealed the dismissal of its bankruptcy case late Monday, challenging a judge’s ruling that it was not in immediate jeopardy from 260,000 lawsuits alleging that 3M military earplugs caused hearing loss for veterans and U.S. service members. U.S. Bankruptcy Judge Jeffrey Graham in Indianapolis had dismissed…
By Jack Queen (Reuters) – Former President Donald Trump has been indicted for illegally retaining classified government documents after leaving office in 2021. Here is a rundown of what this means for his 2024 presidential campaign. WILL THE INDICTMENT PREVENT TRUMP FROM CAMPAIGNING OR TAKING OFFICE? None of the charges would bar Trump from taking…
