(Reuters) -Raytheon Technologies said on Tuesday it has received a $1.15 billion contract from the U.S. Air Force for its AIM-120 D-3 and C-8 AMRAAM (Advanced Medium Range Air-to-Air Missiles). Defense budgets have ballooned as the West rushes arms to Ukraine and beefs up funding for future development programs. In recent years, the U.S. Congress…
SAO PAULO (Reuters) – The president of Brazil’s securities watchdog CVM on Tuesday urged employees from Americanas with information about the retailer’s alleged multi-billion-dollar fraud to give testimony in exchange for potential plea deals. “I would like to encourage you to collaborate with the CVM, because (those involved) will certainly be identified,” CVM chief Joao…
By Joyce Lee SEOUL (Reuters) -The South Korean government has been ordered to pay hedge fund Elliott about $108.5 million, Elliott and the Ministry of Justice said on Tuesday, in an dispute settlement case stemming from the 2015 merger of two Samsung affiliates. The tribunal at the Permanent Court of Arbitration in The Hague partly…
By Dietrich Knauth (Reuters) – Georgia-Pacific can avoid litigating tens of thousands of asbestos lawsuits while its subsidiary Bestwall remains in bankruptcy, an appeals court ruled Tuesday. In a 2-1 decision, the 4th U.S. Circuit Court of Appeals ruled that extending bankruptcy’s so-called “automatic stay” to protect Georgia-Pacific, which is not bankrupt, would give Bestwall…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A deepening sense of caution descends over Asian markets as the trading week reaches its mid-point, as investors give a lukewarm reaction to China’s interest rate cut and await key remarks from Federal Reserve Chair…
By David Shepardson WASHINGTON (Reuters) – Microsoft CEO Satya Nadella and Activision Blizzard CEO Bobby Kotick are among the witnesses planned for a five-day evidentiary hearing set to begin this week on the Federal Trade Commission’s legal bid to block the deal, according to a court filing on Tuesday. The FTC is seeking a preliminary…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – Two Federal Reserve policymakers and an economist nominated to join them on the Fed’s Washington-based board on Tuesday said their focus is on bringing down too-high inflation so that the U.S. economy can get back to sustainable growth. Inflation has “started to abate” but the Fed…
(Reuters) -Visa has hired Chris Suh, the finance chief at Electronic Arts and a former executive at Microsoft, as its new CFO, the payments processor said on Tuesday. Suh is departing the videogame publisher just a year and a half after assuming his role at EA. Prior to that, he was the corporate vice president…
By David Shepardson WASHINGTON (Reuters) – The U.S. Federal Communications Commission (FCC) on Tuesday proposed a rule that would require cable TV and broadcast satellite operators to disclose to consumers the full pricing for video programming services in promotional materials and on their bills – a plan quickly endorsed by President Joe Biden. The FCC’s…
By Daniel Wiessner (Reuters) – U.S. appeals court judges on Tuesday said a recent U.S. Supreme Court ruling involving Southwest Airlines baggage handlers does not support Domino’s Pizza LLC’s bid to force class action wage claims by delivery drivers into arbitration. The three-judge 9th U.S. Circuit Court of Appeals panel in Seattle appeared unlikely to…
