By Jonathan Stempel (Reuters) -Warren Buffett has donated another $4.64 billion of Berkshire Hathaway stock to five charities, boosting his total giving since 2006 to more than $51 billion. The annual donation made on Wednesday is the 92-year-old Buffett’s largest, and consisted of about 13.7 million of Berkshire’s Class B shares. Buffett is donating 10.45…
By Deborah Mary Sophia and Chibuike Oguh (Reuters) -Shares of Overstock.com jumped on Thursday after the online retailer won an auction for a portion of the assets of bankrupt home goods chain Bed Bath & Beyond. Overstock emerged as the winning bidder for Bed Bath & Beyond’s intellectual property and mobile platform in a deal…
By David Shepardson WASHINGTON (Reuters) – The U.S. Energy Department plans to lend up to $9.2 billion to a joint venture of Ford Motor and South Korea’s SK On to help it build three battery plants in Tennessee and Kentucky, the biggest-ever award from the government program. The conditional commitment for the low-cost government loan…
(Reuters) – Electric aviation and regional air travel company Surf Air Mobility said on Thursday it expects the company’s shares to start trading on July 11, setting the stage for the first major direct listing in the United States in months. Surf Air’s shares are expected to trade on the New York Stock Exchange under…
By Patricia Zengerle WASHINGTON (Reuters) -The U.S. Senate voted overwhelmingly on Thursday in favor of a tax treaty with Chile seen as crucial for ensuring access for U.S. companies to lithium, a mineral essential for electric vehicle batteries. The Senate backed ratification by 95-2, comfortably over the two-thirds supermajority required to approve treaties in the…
By Stephanie Kelly NEW YORK (Reuters) -Oil futures fell about 4% on Thursday, as a bigger-than-expected Bank of England rate hike prompted worries about the economy and fuel demand that outweighed support from a surprise draw in U.S. oil supplies. Brent futures settled down $2.98, or 3.9%, to $74.14 a barrel. U.S. West Texas Intermediate…
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Telecom Italia (TIM) has granted U.S. fund KKR a period of exclusive negotiations for the sale of its landline grid, the Italian phone group said on Thursday. TIM’s board unanimously mandated CEO Pietro Labriola to start talks with KKR aimed at obtaining a binding offer no later…
(Reuters) – General Electric’s aerospace unit said on Thursday it has signed an agreement with India’s state-owned Hindustan Aeronautics Ltd to make fighter jet engines for the Indian Air Force. The development comes at a time when Indian Prime Minister Narendra Modi is on an official state visit to the United States. The agreement includes…
By Sara Merken (Reuters) -Plaintiffs’ lawyers have asked a San Francisco federal judge to award more than $181 million in legal fees as part of a $725 million data privacy settlement with Facebook parent company Meta Platforms resolving claims over sharing of user information with third parties. Co-lead counsel at plaintiffs law firms Keller Rohrback…
By Hyunjoo Jin and Greg Bensinger SAN FRANCISCO (Reuters) – Forget about famed boxing bouts like the Rumble in the Jungle or the Thrilla in Manila — billionaire social media moguls Elon Musk and Mark Zuckerberg have been egging each other into a mixed martial arts cage match in Las Vegas. In recent days, Twitter…
