By Paul Lienert (Reuters) – General Motors will begin assembling electric vehicle battery packs near its BrightDrop commercial van plant in Ingersoll, Ontario, in the second quarter of 2024, the company said Tuesday, and will add pack assembly at other North American plants. The 400,000-square-foot Ingersoll facility will make packs for CAMI Assembly, which last…
By Chris Prentice (Reuters) -The U.S. accounting watchdog has found an “absolutely unacceptable” level of serious deficiencies in public company audits it inspected in 2022, chair Erica Williams said in a statement on Tuesday. The Public Company Accounting Oversight Board (PCAOB), which inspected 157 audit firms last year, said in a preliminary report that it…
By David Morgan WASHINGTON (Reuters) -The U.S. House of Representatives is due to begin voting this week on a series of Republican spending bills for fiscal 2024 that could lead to a new standoff between hardline conservatives and party leaders including Speaker Kevin McCarthy. Lawmakers will consider two appropriations bills that would provide $155.7 billion…
By Laura Matthews NEW YORK (Reuters) – The dollar was flat against a basket of its major peers on Tuesday, as investors hope a trio of central bank meetings this week will provide guidance on the outlook for monetary policy. Signs of an extremely resilient U.S. economy helped the currency recover from a recent 15-month…
By David Morgan and Costas Pitas WASHINGTON (Reuters) -Republican U.S. Senator Rick Scott and Democrat Elizabeth Warren have asked for salary information from the Federal Reserve’s inspector general, the central bank’s watchdog, in a push to make the role independent, a letter seen by Reuters on Tuesday shows. The IG’s office said it was reviewing…
By Elizabeth Howcroft, Anton Bridge and Medha Singh LONDON/TOKYO/BENGALURU (Reuters) – People around the world are getting their eyeballs scanned in exchange for a digital ID and the promise of free cryptocurrency, shrugging off concerns among privacy campaigners and data regulators. Founded by Sam Altman, the CEO of ChatGPT developer OpenAI, the Worldcoin project says…
By Maiya Keidan (Reuters) – Private equity firms should stay consistent in deploying capital even when facing a more challenging backdrop for dealmaking, KKR & Co’s co-head of global private equity, Pete Stavros, said on Tuesday. The landscape is littered with people who try to call the market but no one is smart enough to…
By Andrew Hay (Reuters) – The U.S. Forest Service said it started another New Mexico wildfire in 2022, bringing to three the number of blazes it sparked in the drought-hit state last year, including the largest in the contiguous United States. The Cerro Pelado Fire began in April 2022 near Los Alamos when strong winds…
By Samrhitha A (Reuters) -Verizon beat quarterly profit estimates on Tuesday on the back of lower costs and a surprise rise in wireless subscribers as efforts to grow its enterprise customer base and super-fast 5G network paid off. The No. 1 U.S. telecom firm by subscribers also announced it was doing its own tests on…
By Gram Slattery WASHINGTON (Reuters) – Ron DeSantis’ presidential campaign said on Tuesday it had let go of 38 employees in recent weeks, or over one-third of the campaign’s staff, as the Florida governor seeks to cut spending and rally his flagging electoral fortunes. DeSantis, who is vying for the 2024 Republican presidential nomination, is…
