By David Shepardson (Reuters) – General Motors plans to invest $632 million in its Fort Wayne, Indiana, assembly facility to prepare the plant for future internal combustion engine full-size light duty trucks, it said on Monday. The investment will be used to support new conveyors, tooling and equipment for the plant that manufactures GM’s Chevrolet…
By Noele Illien ZURICH (Reuters) -UBS completed its emergency takeover of embattled local rival Credit Suisse on Monday, forging a Swiss banking and wealth management giant with a $1.6 trillion balance sheet. Marking the closing of the biggest banking deal since the 2008 financial crisis, UBS Chief Executive Sergio Ermotti and Chairman Colm Kelleher said…
WASHINGTON (Reuters) – The United States has asked Mexico to review whether workers at a denim garment factory in the Mexican state of Aguascalientes are being denied the right to freedom of association and collective bargaining, the U.S. Trade Representative’s office said on Monday. U.S. Trade Representative Katherine Tai said the request regarding a garment…
(Reuters) – The U.S. budget deficit swelled in May from a year earlier as revenue tumbled and Medicare spending surged, the Treasury Department said on Monday in its first monthly accounting of the government’s finances since a deal was reached to suspend the debt limit and avoid a first-ever federal default. The May deficit shot…
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate likely sped up to 8.8% in May, according to analysts polled by Reuters, as prices in the South America country continue to soar despite a cooling trend in other countries around the region. Argentina is battling soaring inflation likely to end the year near…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom is set to gain conditional EU antitrust approval for its $61 billion proposed acquisition of cloud computing firm VMware, people familiar with the matter said, sending its shares up by almost 5%. The European Commission’s clearance is tied to remedies relating to Broadcom’s interoperability with…
(Reuters) -Goldman Sachs Chief Executive David Solomon told CNBC on Monday that the U.S. economy has been more resilient than feared, even though inflation was proving somewhat stickier. Solomon said he expected a pick-up in recent “anemic” capital markets activity, adding this had not been unusual after 2022’s adjustment of valuations and capital costs. “I…
By David Shepardson WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg on Monday said he told Mexican President Andres Manuel Lopez Obrador last week any decision to reinstate the country’s air safety rating would not be based on politics. “The rating as I emphasized to the president is a safety decision. It’s independent of any economic,…
(This June 10 story has been corrected to say that Pete Buttigieg is the first openly LGBTQ U.S. Cabinet secretary confirmed by lawmakers, in paragraph 3) By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden on Saturday hosted the largest Pride celebration in White House history, calling for new measures to protect the rights…
By Terje Solsvik OSLO (Reuters) -Mondelez International, facing a widening corporate boycott in the Nordic region over its presence in Russia will meet with Norwegian government representatives this week in the hope of protecting the group’s local business. Airlines SAS and Norwegian Air, railway group SJ, hotel chain Strawberry, retailer Elkjop, shipping group Fjord Line…
