(Reuters) -Aston Martin Lagonda has forecast it would hit targets of 500 million pounds ($635.85 million) in adjusted profit and 2 billon pounds in revenue by 2024-2025, the Financial Times reported on Monday. The luxury carmaker, which had the capacity to sell 10,000-15,000 models a year, will likely sell “maybe 17 (thousand) at its peak…
By David Shepardson WASHINGTON (Reuters) – A group of bipartisan U.S. lawmakers said on Monday they are making a new push to expand government authority to detect and destroy drones that could pose security threats. Representatives Chrissy Houlahan, Mike Gallagher, Troy Carter and Mike Johnson introduced legislation that would allow state and local law enforcement…
WASHINGTON (Reuters) -Publishers Clearing House (PCH), which offers sweepstakes where people can win thousands of dollars per week for life, has agreed to pay $18.5 million and change its business practices to settle allegations it misled consumers about its contests, the U.S. Federal Trade Commission (FTC) said on Monday. The FTC had accused PCH of…
SINTRA, Portugal (Reuters) – The world’s top central banks may need longer to get inflation back down to target and a fresh bout of financial turbulence could make the process even more protracted, the International Monetary Fund’s second-in-command said on Monday. Central banks have raised interest rates at a brisk pace over the past year-and-a-half…
By David Shepardson WASHINGTON (Reuters) -U.S. Federal Trade Commission Chair Lina Khan is set to testify on July 13 before the House Judiciary Committee led by Republicans who have sharply criticized her leadership of the antitrust enforcement agency, the committee and commission confirmed on Friday. This will be her first appearance before the committee since…
By Shariq Khan BENGALURU (Reuters) -Oil prices rose slightly in choppy trading on Monday, as investors balanced concerns about global demand growth against upcoming supply disruptions that could be exacerbated by political instability in Russia. Brent crude futures rose 33 cents, or 0.5%, to settle at $74.18 a barrel, while U.S. West Texas Intermediate (WTI)…
By A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia said on Friday it will take legal action against Facebook parent Meta Platforms for failing to remove “undesirable” posts, the strongest measure the country has taken to date over such content. Prime Minister Anwar Ibrahim’s administration has vowed to curb what it calls provocative posts that touch on…
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear a bid by Apple Inc and Broadcom Inc to revive their challenges to Caltech data-transmission patents in a patent infringement case in which the university’s earlier $1.1 billion jury verdict against the companies was thrown out. The justices turned away an appeal by…
By Aniruddha Ghosh (Reuters) -A blistering rally in Tesla Inc shares has powered the EV maker’s market value toward trillion-dollar levels, prompting some analysts to question its valuation and downgrade the stock. Goldman Sachs on Monday cut Tesla to “hold” equivalent rating, joining Morgan Stanley and Barclays, which downgraded the stock last week. The brokerages,…
(Reuters) – KPMG is laying off 5% of its U.S. employees after feeling the pinch of “economic headwinds, coupled with historically low attrition,” a spokesperson for the Big Four accounting giant said on Monday. The firm had over 39,000 employees in the U.S. at the end of its last fiscal year on Sept. 30. KPMG,…
