By Tatiana Bautzer and Manya Saini (Reuters) -Citigroup beat Wall Street expectations for second-quarter profit on Friday, boosted by a 60% jump in investment banking revenue and gains in its services division, sending the company’s shares up 3% before the bell. The third largest U.S. lender reported a profit of $1.52 per share in the…
By Iain Withers and Aby Jose Koilparambil LONDON (Reuters) – Aviva, Legal & General and M&G are ramping up investments in rental homes in Britain, betting on long-term returns in a market where housing demand far outstrips supply, even though the country’s new Labour government could impose tougher regulations. Institutional investment in Britain’s rented housing…
(Reuters) -Tesla is delaying the launch of robotaxi by about two months to October as the design team was told to rework some elements of the car, Bloomberg News reported on Thursday, citing people familiar with the decision. Shares of Tesla, which is betting on self-driving vehicles over less-expensive cars, closed more than 8% down…
By Alexandra Alper and Christopher Bing WASHINGTON (Reuters) -Republican lawmakers asked the Biden administration for an intelligence assessment of Microsoft’s $1.5 billion investment in UAE-based artificial intelligence firm G42 over concerns about transfer of sensitive technology and G42’s historic ties to China. Representative Michael McCaul, chair of the House Foreign Affairs Committee, and John Moolenaar,…
ROME (Reuters) – Foreign Ministers from the Group of Seven (G7) major democracies on Thursday denounced Israel’s move to expand its settlements in the occupied West Bank, saying it was “counterproductive to the cause of peace”. Israel announced last month that it was going to legalise five outposts in the West Bank, establish three new…
By Kanishka Singh WASHINGTON (Reuters) – Discount store operator Dollar General has agreed to pay $12 million in penalty for alleged safety violations that led to blocked exits and fire extinguishers and unsafe storage, requiring the company to improve workplace safety in stores across the U.S. in a settlement with the federal Labor Department, the…
By David Shepardson WASHINGTON (Reuters) – The National Transportation Safety Board said on Tuesday it is seeking to determine when structural damage occurred to the rudder system on a Southwest Airlines Boeing 737 MAX that rolled in May. The roll is one of a series of recent serious safety incidents involving Southwest flights that are…
By Nora Eckert DETROIT (Reuters) – Ford Motor is receiving a reduced incentive package from Michigan for its battery plant in the city of Marshall after the automaker cut expected production at the facility to match demand for electric vehicles. The Dearborn, Michigan-based car company is building the plant and plans to license technology to…
By Svea Herbst-Bayliss (Reuters) – Hedge fund manager Bill Ackman kicked off fundraising for a new U.S.-listed closed-end fund on Tuesday, an effort people familiar with the matter say could bring in as much as $20 billion, more than double his assets under management, some of that from retail investors. Last month, Ackman sold 10%…
WASHINGTON (Reuters) – The White House on Tuesday accused Tehran of trying to take advantage of Gaza-related protests in the U.S. and described such behavior as unacceptable, following a warning by the top U.S. intelligence official that Iran was trying to stoke discord in American society. The warning, issued earlier on Tuesday by Director of…
