By Siddharth Cavale NEW YORK (Reuters) -Hundreds of workers at five U.S. Walmart facilities that fulfill e-commerce orders are being asked to find jobs within 90 days at other company locations, a spokesperson confirmed to Reuters. About 200 workers at Pedricktown, New Jersey, and hundreds of others at Fort Worth, Texas; Chino, California; Davenport, Florida;…
By Allison Lampert and Abhijith Ganapavaram MONTREAL (Reuters) -Business jet maker Bombardier Inc on Thursday raised 2025 revenue and free cash targets at its investor day and said it would produce more planes, despite broader economic headwinds. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying in the U.S….
By Sam Tobin and Clara Denina LONDON (Reuters) -Aluminium giant Rusal plans to bring a further lawsuit in London against Vladimir Potanin, CEO of Nornickel, court documents show, marking the latest flare-up in relations between two of Russia’s biggest metal companies. Rusal wishes to “bring certain further claims” against Potanin and his affiliate Whiteleave Holdings…
(Reuters) – TikTok Chief Executive Shou Zi Chew has mostly kept a low profile since taking the job in 2021 but on Thursday he is testifying before U.S. lawmakers, many of them suspicious of the popular Chinese-owned social media app. Chew previously worked as an investment banker at Goldman Sachs and investment firm DST, which…
By David Shepardson WASHINGTON (Reuters) -TikTok’s chief executive faced tough questions on Thursday from lawmakers who are convinced the Chinese-owned short video app should be barred for being a potential national security threat to the United States. CEO Shou Zi Chew’s testimony before Congress capped a week of actions by the Chinese company aimed at…
WASHINGTON (Reuters) – The Biden administration on Thursday added 14 Chinese entities to a red flag list, forcing U.S. exports to conduct greater due diligence before shipping goods to them because U.S. officials have been unable to inspect the listed entities. Being added to the list can potentially start a 60-day clock that could trigger…
(Reuters) – Shares of Coinbase Global Inc fell 13% in premarket trading on Thursday after the U.S. Securities and Exchange Commission issued a notice declaring its intent to recommend an enforcement action against the crypto exchange’s products. Global regulators are keeping a close watch on the crypto world after a string of high-profile collapses wiped…
By Makiko Yamazaki TOKYO (Reuters) – Toshiba Corp’s board has accepted a buyout offer from a group led by private equity firm Japan Industrial Partners, valuing the company at 2 trillion yen ($15.2 billion), the company said on Thursday. A successful deal would see the scandal-ridden industrial conglomerate taken private and firmly in domestic hands…
By Howard Schneider, Yoruk Bahceli and Akriti Sharma (Reuters) -The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about…
By Joe Cash BEIJING (Reuters) – China has never deliberately pursued a trade surplus with the United States, Shu Jueting, a commerce ministry spokesperson, said on Thursday, despite signs that China is continuing to reduce its reliance on American exports. Although American export data published on Feb. 7 shows that exports to China increased by…
