By Alvise Armellini, Giuseppe Fonte and Giulio Piovaccari ROME (Reuters) -Italy’s government said on Friday it had taken steps to limit the influence of China’s Sinochem on tyremaker Pirelli, including a mandatory qualified majority for strategic decisions made by the company’s board. Rome’s decision comes after Sinochem, Pirelli’s largest shareholder with a 37% stake, notified…
(Reuters) -A federal court in Louisiana on Friday dismissed Tesla Inc’s complaint against a state restriction on direct car sales, according to a ruling. Last year, Tesla filed a lawsuit to challenge Louisiana’s refusal to allow the company to sell vehicles directly to consumers, calling the U.S. state’s move protectionist and anticompetitive. The case is…
(Reuters) – U.S. wireless carrier AT&T said on Friday it would close its flagship store in downtown San Francisco, deepening the real estate pain in the once-booming tech hub that has been particularly hard hit by the pandemic. Stores in San Francisco have been closing their doors as they try to cut down on real…
By Chris Prentice NEW YORK (Reuters) – A top U.S. Securities and Exchange Commission (SEC) official on Friday rejected criticism of the regulator’s cryptocurrency crackdown and slammed the sector for violating securities laws. The regulator’s heightened scrutiny of crypto firms comes in response to the industry’s failure to comply with the agency’s regulations, SEC enforcement…
By Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – The yen plunged to a 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept its ultra-low interest rate policy and forecast that inflation will slow later this year, in contrast with the European Central Bank’s (ECB) rate hike on Thursday. The Japanese unit…
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury on Friday said it found that no major U.S. trading partners had manipulated their currencies for an export advantage, adding it ended “enhanced analysis” for Switzerland after the country met only one of three manipulation criteria. In its semi-annual currency report, the Treasury said that Switzerland…
(Reuters) – The U.S. Air National Guardsman accused of leaking top-secret military intelligence records online will appear in a federal court in Massachusetts on Wednesday for his arraignment on some of the most serious security breach charges, a court notice showed on Friday. Jack Douglas Teixeira, 21, of North Dighton, Massachusetts, has been indicted on…
By Sheila Dang (Reuters) -Twitter plans to focus on video, creator and commerce partnerships to revitalize the social media company’s business beyond digital advertising, according to an investor presentation by owner Elon Musk and new Chief Executive Linda Yaccarino that was reviewed by Reuters. Yaccarino, who started as CEO on June 5, told Twitter investors…
(Reuters) – President Vladimir Putin said this month that Russia was considering withdrawing from the Black Sea grain deal as he accused the West of cheating Moscow because it still faced obstacles getting its own agricultural goods to world markets. Putin said he would discuss the future of the grain deal with visiting African leaders…
By David Carnevali and Mike Stone (Reuters) -Ball Corp, the world’s largest supplier of beer cans, is exploring a sale of its business that provides aerospace and national defense hardware, such as sensors and antennas, for over $5 billion, people familiar with the matter said on Friday. The divestment of the aerospace business, which accounted…
