By Trevor Hunnicutt WASHINGTON (Reuters) -The Biden administration has approved more than $1.8 billion for recovery efforts following hurricanes Helene and Milton, the White House said on Wednesday. The spending comes as states across the southeastern U.S. work to recover from the back-to-back hurricanes which caused widespread devastation. Recovery is expected to take a long…
By Shankar Ramakrishnan, Echo Wang (Reuters) -Boeing is closing in on a plan to raise around $15 billion with common shares and a mandatory convertible bond as the jet maker bolsters finances worsened by a crippling strike, four sources familiar with the matter told Reuters. The company on Tuesday said in regulatory filings that it…
(Reuters) -U.S. pipeline operator Kinder Morgan fell short of Wall Street estimates for third-quarter profit on Wednesday, weighed down by weaker commodity prices and lower crude volumes. The company also projected annual adjusted core profit to be 2% below its forecast, compared to previous expectations of in line or within 1-2% below. Kinder Morgan cited…
(Reuters) – Tesla came one step closer to achieving its planned doubling of capacity at its plant near Berlin on Tuesday when the local environment ministry granted approval for it to build another large hall. The approval granted permission for the carmaker to proceed with the first of three stages of the expansion, including construction…
(Reuters) -The New York Times has sent Perplexity a “cease and desist” notice demanding the company stop using its content for generative AI purposes, marking the latest clash between the news publisher and an AI firm. The letter from the news publisher said the way Perplexity was using its content, including to create summaries and…
(Reuters) -Boeing filed papers with the U.S. markets regulator on Tuesday for raising up to $25 billion through a stock and debt offering and entered into a $10 billion credit agreement amid a crippling strike and upcoming debt maturities. The planemaker is looking to shore up its finances that have been strained due to a…
WASHINGTON (Reuters) – The World Bank, under pressure to do more to help developing countries cope with climate change, voted on Tuesday to change its internal lending guidelines to free up $30 billion in additional lending capacity over the next decade, World Bank President Ajay Banga told Reuters. Banga said the bank’s International Bank for…
By Hyunsu Yim and Jack Kim SEOUL (Reuters) – North Korea is getting ready to blow up roads that cross the heavily militarised border with South Korea, Seoul said on Monday, amid an escalating war of words after the North accused its rival of sending drones over its capital Pyongyang. North Korean troops were working…
By Ben Blanchard and Faith Hung TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co, the main producer of advanced chips used in artificial intelligence applications, is expected to report a 40% leap in third-quarter profit on Thursday thanks to soaring demand. The world’s largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from the…
By Svea Herbst-Bayliss (Reuters) -Elliott Investment Management is taking its fight with Southwest Airlines to investors by calling for a special shareholder meeting where they can vote on new director candidates who would ultimately steer company strategy. In calling for the meeting, Elliott is taking a highly unusual step but one it has telegraphed for…
