(Reuters) – Faraday Future Intelligent Electric said on Tuesday its interim finance chief has resigned and the company will restate its financial statements for 2022 and the quarter ended March 2023 after it uncovered some errors, highlighting continued turmoil at the electric vehicle firm. The company, which had raised going-concern doubts last year, appointed outsider…
(Reuters) – Bankrupt retailer Bed Bath & Beyond’s Buy Buy Baby stores are set to shutter after a last ditch effort to save the chain and keep the business alive fell apart, CNBC reported on Tuesday. Brand management firm Go Global Retail was eager to buy the Bed Bath & Beyond chain and keep it…
By David Shepardson (Reuters) – The head of the United Auto Workers, which represents 150,000 U.S. hourly workers at General Motors, Ford Motor and Chrysler-parent Stellantis, said the union is not afraid to strike any of the automakers without a fair contract. “The Big Three is our strike target. And whether or not there’s a…
By Jeffrey Dastin AUSTIN (Reuters) -Months since ChatGPT’s debut, engineers and marketers at the stock exchange operator Nasdaq are embracing newer artificial intelligence, while its lawyers are treading more cautiously, its chief technology and chief information officer said on Tuesday. Inside Nasdaq, which also sells technology for global markets, workers across different departments are exploring how…
(Reuters) -Canada’s banking regulator on Tuesday proposed changes to capital adequacy guidelines that would require lenders and mortgage insurers to hold more funds to better manage risks from a sharp rise in home loan rates. Variable home loan rates have risen as the country’s central bank has hiked benchmark interest rate to a 22-year high…
PRISTINA (Reuters) – The Kosovo government said on Tuesday it will scale down the police presence and take other measures to lower tensions in a northern region where hostilities between Albanians and ethnic Serbs have reached their highest level since the country declared independence in 2008. Violence in north Kosovo, where 50,000 Serbs live and…
By Chris Prentice (Reuters) -Bank of America on Tuesday agreed to pay $250 million in fines and compensation to settle claims the bank systematically double-charged customers fees, withheld promised credit card perks, and opened accounts without customer authorization. Bank of America agreed to pay $100 million in restitution to harmed consumers and another $150 million…
(Reuters) – Microsoft cleared a major hurdle in its planned $69 billion purchase of videogame maker Activision Blizzard, as a judge gave a thumbs-up to the proposed deal a week before the July 18 termination date. With the first fight in federal court in California wrapped up, the agency and companies have decisions to make…
By Daniel Trotta (Reuters) – Leslie Van Houten, once part of the “Manson family” that carried out Charles Manson’s orders in a killing spree that terrorized Los Angeles in 1969, was released from prison on parole on Tuesday after 53 years, her lawyer said. Her release had been expected after California Governor Gavin Newsom on…
By Echo Wang NEW YORK (Reuters) -ByteDance, the Chinese owner of short video app TikTok, will allow shares owned by U.S. employees to vest without waiting for the company to list in the stock market, thereby letting them cash out, according to people familiar with the matter. The move is aimed at appeasing restless employees…
