(Reuters) – Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the company’s valuation to about $150 billion, Bloomberg News reported on Friday, citing people familiar with the matter. In January, the company was valued at $137 billion after raising $750 million in a funding round, according to a…
By Stephanie Kelly NEW YORK (Reuters) – A U.S. Democratic lawmaker plans to reintroduce a bipartisan bill next month that would allow electricity generated from renewable biomass to qualify for credits under the nation’s biofuel blending program. The Biden administration abandoned a similar scheme over concerns that it could trigger lawsuits.. Under the bill’s plan,…
By David Shepardson WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg warned Friday of potential delays starting July 1 for airplanes that have not yet had radio altimeters updated to address potential 5G C-Band interference and urged them to adjust schedules if needed. While more than 80% of the domestic fleet serving U.S. airports has been…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against the euro on Friday after dismal business activity data from around the globe soured risk sentiment and as hawkish comments from central banks added to pressure on riskier currencies. U.S. business activity fell to a three-month low in June as services growth eased for…
(Reuters) – U.S. companies borrowed 1% more in May compared to a year earlier to finance equipment investments, industry body Equipment Leasing and Finance Association (ELFA) said on Friday. The companies signed up for new loans, leases and lines of credit worth $9.5 billion last month, up from $9.4 billion a year ago. “We have…
By Ashitha Shivaprasad (Reuters) – Palladium could extend this year’s near 30% price decline as the rapid rise of electric vehicles threatens to hammer demand for the autocatalyst metal at a time broader economic weakness and chart factors are also weighing. Spot palladium hit a four-year low of $1,269.09 an ounce on Thursday, having fallen…
By David Shepardson WASHINGTON (Reuters) – United Auto Workers (UAW) union President Shawn Fain on Friday harshly criticized the U.S. Energy Department plan to lend $9.2 billion to a joint venture of Ford Motor and South Korea’s SK On to build three U.S. battery plants. Fain called the loan a massive “giveaway” with “no consideration…
By Dietrich Knauth NEW YORK (Reuters) – A group of media organizations on Friday appealed a court decision that allows collapsed crypto exchange FTX to keep customer names secret during its bankruptcy case. U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, ruled earlier this month that FTX did not have to reveal its customers’ names…
BERLIN (Reuters) – Germany aims to purchase 60 Chinook helicopters from Boeing in a package that would cost up to 8 billion euros ($8.71 billion), including necessary infrastructure for the aircraft, a parliamentary source told Reuters on Friday. The sum includes the procurement of the CH-47 heavy-lift helicopters for 6.27 billion euros, 700 million euros…
By Caroline Valetkevitch NEW YORK (Reuters) – Forecasts for second-quarter U.S. earnings still look gloomy after a much-better-than-feared first quarter season as the likelihood of further interest rate hikes this year creates more potential risks for companies. Analysts expect earnings for S&P 500 companies to fall 5.6% in the second quarter from a year ago,…
