By Ross Kerber (Reuters) – Vanguard Group, the largest provider of mutual funds, has secured regulatory approval to continue to own big stakes in U.S. power utilities, overcoming Republican concerns over its environmental, social and governance (ESG) policies. Various Republican politicians and officials had questioned the company’s application to the Federal Energy Regulatory Commission (FERC),…
By Daniel Wiessner (Reuters) -A California federal judge on Monday dismissed a proposed class action accusing Twitter Inc of targeting female employees for layoffs after Elon Musk acquired the company last year, but said plaintiffs would be allowed to amend the lawsuit to add more details. U.S. District Judge Jon Tigar in Oakland said the…
By Akash Sriram and Abhirup Roy (Reuters) -Electric vehicle (EV) maker Lucid Group Inc reported lower-than-expected first-quarter revenue on Monday and trimmed its 2023 production forecast as a price war sparked by Tesla, rising interest rates and recession fears hurt sales. Shares in the maker of the Air luxury sedan dropped about 9% in after…
By Kylie Madry MEXICO CITY (Reuters) -The Mexican government on Monday set out fresh details of a plan to attract businesses to a corridor straddling a narrow isthmus of southern Mexico, part of a larger push to pump investment into the relatively poor region. The plan, called the Inter-Oceanic Corridor, will include 10 new industrial…
By Suban Abdulla LONDON (Reuters) – British retail sales growth held steady in April but high inflation meant shoppers were getting less for their money, and unsettled weather discouraged many from buying summer clothes, a British Retail Consortium survey showed on Tuesday. The BRC said spending at its members’ stores increased 5.1% in annual terms…
By Dietrich Knauth (Reuters) – Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange. Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global,…
By David Morgan WASHINGTON (Reuters) – President Joe Biden and top Republicans and Democrats from Congress are set to sit down this week to try to resolve a three-month standoff over the $31.4 trillion U.S. debt ceiling and avoid a crippling default before the end of May. The Democratic president is calling on lawmakers to…
(Reuters) – Canada’s Cenovus Energy Inc said on Monday it has shut down production plants in some areas of its conventional business, due to wildfires in Alberta. The company added that production of about 85,000 barrels of oil equivalent per day has been impacted in Cenovus’ Rainbow Lake, Kaybob-Edson, Elmworth-Wapiti and Clearwater operating areas. Cenovus,…
By Shreyashi Sanyal, Shristi Achar A and Carolina Mandl (Reuters) – U.S. stocks paused on Monday after a strong rally in the prior session as investors shift focus to a key inflation reading later this week. For most of the day, stocks struggled for direction amid disappointing earnings from Tyson Foods and Catalent and a…
By Victoria Waldersee BERLIN (Reuters) – Chinese investment in Europe is shifting from mergers and acquisitions to greenfield projects mainly in battery production for electric vehicles, according to 2022 data analysed by independent research providers MERICS and Rhodium Group. Greenfield investment made up 57% of total foreign direct investment by China in Europe in 2022,…
