By Gleb Stolyarov and Alexander Marrow (Reuters) – The Western automakers that dominated Russia’s car market left following Moscow’s invasion of Ukraine, leaving a slumping production and sales in their wake, with domestic producers and Chinese firms picking up the pieces. Here is an overview of the fate of foreign carmakers’ assets in Russia: RENAULT…
(Reuters) – Australia’s Zip Co Ltd said on Thursday it faced a jump in bad debts at home grounds, its biggest market by revenue, during the March-June quarter due to poor domestic consumer credit and discrepancies with third-party payment processors. The country’s biggest standalone buy-now-pay-later (BNPL) provider said Australia’s June-quarter net bad debts, which are…
By Patricia Zengerle WASHINGTON (Reuters) – Republican and Democratic members of the U.S. House of Representatives introduced legislation on Wednesday that would authorize President Joe Biden’s administration to negotiate a tax agreement with Taiwan, seeking to foster investment as Washington works to shore up the island against a rising China. The lawmakers, including House Foreign…
By Diane Bartz and Anirban Sen WASHINGTON (Reuters) -U.S. antitrust regulators published guidelines on Wednesday on the kinds of mergers and acquisitions they object to, reaffirming the skepticism with which President Joe Biden’s administration has approached many deals, especially in the technology sector. The U.S. Justice Department and Federal Trade Commission (FTC) have mounted an…
By Steve Holland and Andrea Shalal WASHINGTON (Reuters) -The White House on Wednesday expanded its war on junk fees to the rental housing market, announced a crackdown on price-fixing in food and agricultural markets, and unveiled draft merger guidelines as part of an ongoing push to aid U.S. consumers. President Joe Biden, who has made…
(Reuters) – Drugmaker Pfizer Inc said on Wednesday its plant in Rocky Mount, North Carolina, which is one of the largest sterile injectable product facilities in the world, has suffered heavy damage from a tornado. A company spokesperson in an emailed statement confirmed that the Rocky Mount facility was damaged and the drugmaker was assessing…
(This July 18 story has been corrected to say Tlaib is the first Palestinian American woman in Congress in paragraph 14) By Patricia Zengerle and Steve Holland WASHINGTON (Reuters) – President Joe Biden and Israeli President Isaac Herzog stressed their countries’ close ties on Tuesday at a White House meeting despite U.S. tensions with Israeli…
By Kane Wu (Reuters) – Private equity firm Warburg Pincus on Wednesday named its Asia head of real estate Jeffrey Perlman as successor to Timothy Geithner as president. Geithner, who was U.S. Treasury Secretary in the Obama administration and had headed the Federal Reserve Bank of New York, will become the chair of the New…
By David Shepardson WASHINGTON (Reuters) -United Auto Workers (UAW) President Shawn Fain met on Wednesday with President Joe Biden at the White House as the union briefed staff on contract talks with the Detroit Three automakers. Fain, who was on Capitol Hill meeting with lawmakers to discuss the labor talks and the union’s push for…
By Ted Hesson WASHINGTON (Reuters) – New York City will distribute flyers at the U.S.-Mexico border telling newly arrived migrants to “consider another city” and limit shelter stays for adult asylum seekers to 60 days as the city’s Democratic mayor says it is straining to house them. In an announcement on Wednesday, the office of…
