WASHINGTON (Reuters) – President Joe Biden’s administration has in recent weeks been discussing possible executive actions he could take in response to the Supreme Court’s decision on affirmative action, a source familiar with the matter said on Thursday. Earlier on Thursday, the U.S. Supreme Court struck down race-conscious admissions programs at Harvard University and the…
By Bianca Flowers (Reuters) – Carmaker Stellantis will require union employees to work mandatory overtime at its Warren Truck assembly and Jefferson North factory in Michigan, to boost Jeep SUV production ahead of a potential strike deadline in September, according to a document shared with Reuters. Stellantis told workers at both facilities the plants will…
By Tom Hals WILMINGTON, Delaware (Reuters) – A legal case making its way through the courts could remove the abortion pill mifepristone from the market or restrict access to the drug. The case is being led by medical groups and doctors who are opposed to abortion and hinges in part on the testimony of the…
By Maya Gebeily BEIRUT (Reuters) -Lebanon’s financial crisis has been aggravated by vested interests resisting crucial reforms, the International Monetary Fund (IMF) said on Thursday, warning that no action could lead the country “down an unpredictable road”. The nearly four-year economic meltdown has cost the local currency roughly 98% of its value, seen GDP contract…
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar index climbed to a two-week high on Thursday after economic data showed the labor market remained on a solid footing, giving the Federal Reserve a possible cushion to continue raising interest rates. Weekly initial jobless claims decreased 26,000 to a seasonally adjusted 239,000, the largest…
FRANKFURT (Reuters) -Volkswagen’s Audi named the German group’s strategy chief as its new CEO on Thursday, as the luxury carmaker seeks to catch up with rivals in the dash towards electrification, including in China, the world’s top car market. Gernot Doellner, who replaces Markus Duesmann, will become CEO with effect from September, Audi said, after…
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka is asking international bondholders to take a 30% haircut and is seeking similar concessions from investors in its domestic dollar-denominated notes as it seeks to overhaul its massive debt, its central bank governor said on Thursday. Unveiling details of the long-awaited plan, central bank governor Nandalal Weerasinghe said…
By Marie Mannes STOCKHOLM (Reuters) -Fashion retailer H&M’s shares jumped more than 17% on Thursday after its second-quarter profit beat estimates as cost-cutting measures started to bear fruit and its summer collection benefited from warmer weather in Europe. H&M, which has lagged Zara owner Inditex, has sought to raise its fashion appeal and boost its…
By Gabriella Borter (Reuters) – The U.S. Supreme Court on Thursday struck down race-conscious admissions policies at Harvard University and the University of North Carolina, a practice called affirmative action employed by a majority of selective schools. Here is a look at some of the key players in the cases. HARVARD UNIVERSITY Harvard University is…
WASHINGTON (Reuters) – U.S. President Joe Biden’s chief economic adviser on Thursday expressed confidence that inflation would continue to improve in the second half of the year, and said it could drop to a range of 2% or slightly higher before the 2024 presidential election. National Economic Council Director Lael Brainard told an event hosted…
