By Mike Scarcella (Reuters) – Visa and Mastercard have agreed to pay $197 million to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. The plaintiffs’ lawyers revealed the proposed accord on Wednesday in a filing in Washington, D.C., federal court. The settlement involves…
WASHINGTON (Reuters) – Boeing said Wednesday it is making progress on developing a permanent solution to address an issue with the 737 MAX anti-ice system that can overheat and could cause an engine failure. The planemaker in January withdrew a request it filed with the Federal Aviation Administration last year seeking an exemption from a…
(Reuters) -ConocoPhillips on Wednesday agreed to buy Marathon Oil in a $22.5 billion all-stock deal, the latest in a series of mega-deals in the oil and gas industry as companies look to bolster reserves. The U.S. oil and gas industry has been riding a consolidation wave over the last two years. Last year was one…
(Reuters) – U.S. businessman Elon Musk recently told investors that his artificial intelligence startup xAI is planning to build a supercomputer to power the next version of its AI chatbot Grok, The Information reported on Saturday citing a presentation to investors. Musk said he wants to get the proposed supercomputer running by the fall of…
(Reuters) – Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which if passed would be the largest pay package for a CEO in corporate America. The report cited reasons like the “excessive size” of the pay deal,…
BEIJING (Reuters) – Chinese Premier Li Qiang told Samsung Chairman Jay Y. Lee on Sunday that China welcomed further investment by the Korean conglomerate, state news agency Xinhua reported, as foreign businesses in the Chinese market struggle to navigate geopolitical uncertainties. The meeting in Seoul between China’s second highest-ranking official and the Korean executive took…
(Reuters) -Israel was ordered by the World Court on Friday to halt its military assault on the city of Rafah in Gaza. Here are some reactions: HAMAS Hamas welcomed the ruling by the U.N.’s International Court of Justice but said it was insufficient. “In the time we welcome the decision by the World Court that…
By Scott DiSavino (Reuters) – Power prices in Texas soared for Friday with electric demand expected to break the record for the month of May for a second time this week, ahead of the long U.S. Memorial Day weekend as homes and businesses crank up air conditioners to escape a heat wave. The Electric Reliability…
(Reuters) – Boeing’s cash flow situation is incrementally worse than their expectations, an S&P Global Ratings analyst said, after the company said it would be cash-flow negative in 2024. Boeing currently has a BBB- rating from S&P, one level above “junk” status, with a negative credit rating outlook. The rating agency changed that outlook in…
By Ben Blanchard TAIPEI (Reuters) – China ended two days of war games around Taiwan, in which it simulated attacks with bombers and practiced boarding ships, and Taiwan’s defence ministry detailed on Saturday the surge of Chinese warplanes and warships involved. Chinese state television’s military channel said late on Friday the drills had concluded. A…
