(Reuters) – Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the company’s valuation to about $150 billion, Bloomberg News reported on Friday, citing people familiar with the matter. In January, the company was valued at $137 billion after raising $750 million in a funding round, according to a…
(Reuters) – Tropical Storm Bret continued its path through eastern Caribbean islands early Friday, striking the region with winds and heavy rain. Early morning the storm reached Saint Vincent and the Grenadines with storm-force winds which extended outward up to 185 kilometers (115 miles) from the center, said the meteorological services of the island in…
By Joseph Ax (Reuters) – For a year, Stockton Rush had tried to convince Las Vegas-based investor Jay Bloom to buy a couple of spots on his company’s submersible so Bloom and his son could experience the once-in-a-lifetime thrill of visiting the deep-sea wreck of the Titanic. Bloom was intrigued, he said in an interview…
By Stephanie Kelly NEW YORK (Reuters) – A U.S. Democratic lawmaker plans to reintroduce a bipartisan bill next month that would allow electricity generated from renewable biomass to qualify for credits under the nation’s biofuel blending program. The Biden administration abandoned a similar scheme over concerns that it could trigger lawsuits.. Under the bill’s plan,…
By David Shepardson WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg warned Friday of potential delays starting July 1 for airplanes that have not yet had radio altimeters updated to address potential 5G C-Band interference and urged them to adjust schedules if needed. While more than 80% of the domestic fleet serving U.S. airports has been…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against the euro on Friday after dismal business activity data from around the globe soured risk sentiment and as hawkish comments from central banks added to pressure on riskier currencies. U.S. business activity fell to a three-month low in June as services growth eased for…
By Andrew Chung (Reuters) – The U.S. Supreme Court on Friday gave President Joe Biden’s administration the green light to move ahead with guidelines shifting immigration enforcement toward countering public safety threats, handing him a victory on the politically contentious issue in a legal battle with Texas and Louisiana. The 8-1 decision overturned a judge’s…
(Reuters) – U.S. companies borrowed 1% more in May compared to a year earlier to finance equipment investments, industry body Equipment Leasing and Finance Association (ELFA) said on Friday. The companies signed up for new loans, leases and lines of credit worth $9.5 billion last month, up from $9.4 billion a year ago. “We have…
By Ashitha Shivaprasad (Reuters) – Palladium could extend this year’s near 30% price decline as the rapid rise of electric vehicles threatens to hammer demand for the autocatalyst metal at a time broader economic weakness and chart factors are also weighing. Spot palladium hit a four-year low of $1,269.09 an ounce on Thursday, having fallen…
NEW YORK (Reuters) – A U.S. judge on Friday denied Sam Bankman-Fried’s push to get a law firm that advised his now-bankrupt FTX cryptocurrency exchange to hand over documents he says can help him beat fraud charges. The onetime billionaire, who has pleaded not guilty to charges of stealing from FTX customers and lying to…
