By Daniel Wiessner (Reuters) – Twitter Inc on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were laid off after Elon Musk acquired the company. Courtney McMillian, who oversaw Twitter’s employee benefits programs as its “head of total rewards”…
By Lisa Richwine LOS ANGELES (Reuters) -Negotiators for the SAG-AFTRA actors union agreed late Tuesday to call in a federal mediator to try to forge a last-minute agreement with Hollywood studios and avoid a second simultaneous strike in the entertainment business. The 160,000 members of SAG-AFTRA, Hollywood’s largest union, have authorized a strike if a…
(Reuters) – Roblox Corp’s eponymous online game will soon be available on Meta Platforms’ Quest virtual reality (VR) headsets, according to a blog post by Meta on Wednesday. The game will arrive as a beta version, initially on Quest 2 and Quest Pro, in the coming weeks. “The open beta is a great opportunity for…
By David Shepardson WASHINGTON (Reuters) -U.S. regulators will soon decide on a petition filed by General Motors’ Cruise self-driving technology unit seeking permission to deploy up to 2,500 self-driving vehicles annually without human controls, a top auto safety official said on Wednesday. The petition, filed in February 2022, seeks government approval to deploy vehicles annually…
By Granth Vanaik and Juveria Tabassum (Reuters) -Domino’s Pizza shares surged 10% on Wednesday after the chain said customers can start using Uber’s Uber Eats and Postmates apps for orders, as it tries to jolt its sluggish delivery business. Domino’s said Uber Eats will be its exclusive third-party platform in the U.S. until at least…
By Steve Scherer and Ismail Shakil OTTAWA (Reuters) -The Bank of Canada on Wednesday hiked its key overnight rate by a quarter of a percentage point to a 22-year high of 5.0%, and said it could raise rates further because of the risk of inflation stalling above its 2% target. The move to increase borrowing…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are taking advantage of muted U.S. stock market gyrations to load up on contracts that would jump in value should equities see a big drop, boosting the number of open contracts on Wall Street’s most popular volatility gauge near a record high. The one-month moving…
By David Shepardson WASHINGTON (Reuters) – The U.S. Senate Commerce Committee on Wednesday voted to approve President Joe Biden’s nominee for a key fifth seat on the U.S. Federal Communications Commission (FCC), after Democrats have been stymied since 2021 from gaining a majority on the telecommunications regulator. The committee voted to approve Anna Gomez, a…
By Howard Schneider WASHINGTON (Reuters) -A year after U.S. inflation peaked and touched off an aggressive turn in monetary policy, Federal Reserve officials may be opening a more encouraging chapter in their policy discussion with the first of what analysts expect to be a run of data showing key price measures in steady decline. The…
By Akash Sriram (Reuters) -Lucid Group said its second-quarter production dropped from the previous three months while deliveries stayed flat, sending the shares of the luxury electric-vehicle maker down about 12% on Wednesday. The Saudi Arabia-backed startup has been struggling to ramp up production in the face of supply chain issues, while a price war…
