By David Shepardson (Reuters) – The head of the United Auto Workers, which represents 150,000 U.S. hourly workers at General Motors, Ford Motor and Chrysler-parent Stellantis, said the union is not afraid to strike any of the automakers without a fair contract. “The Big Three is our strike target. And whether or not there’s a…
(Reuters) -Canada’s banking regulator on Tuesday proposed changes to capital adequacy guidelines that would require lenders and mortgage insurers to hold more funds to better manage risks from a sharp rise in home loan rates. Variable home loan rates have risen as the country’s central bank has hiked benchmark interest rate to a 22-year high…
(Reuters) – Microsoft cleared a major hurdle in its planned $69 billion purchase of videogame maker Activision Blizzard, as a judge gave a thumbs-up to the proposed deal a week before the July 18 termination date. With the first fight in federal court in California wrapped up, the agency and companies have decisions to make…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The mood across Asia at the midpoint of the week is increasingly upbeat, as a growing consensus that the U.S. central bank is near the end of its policy tightening cycle continues to weigh on…
By Valerie Volcovici and Kanishka Singh WASHINGTON (Reuters) – U.S. climate envoy John Kerry on Monday will become the Biden administration’s third senior official to visit China in recent weeks after trips by Treasury Secretary Janet Yellen and Secretary of State Antony Blinken. A U.S. official said on Tuesday that Kerry would visit from Monday…
By Katherine Masters NEW YORK (Reuters) – A bipartisan group of U.S. lawmakers asked the Milwaukee Tool unit of Hong Kong-based Techtronic Industries to examine whether its products had links to forced labor, citing a recent media report that some were made by Chinese prisoners. In a letter sent Tuesday and signed by Republican Representative…
DUBLIN (Reuters) -Ryanair on Tuesday resigned from an industry group set up by the British government to help implement its aviation strategy, dismissing it as a “talking shop” which has delivered no benefits or reforms for passengers. The UK Aviation Council first met in February to advise on a ten-year plan set out by ministers…
By David Shepardson WASHINGTON (Reuters) -Chrysler-parent Stellantis has warned 29,000 owners of 2003 Dodge Ram pickups to immediately stop driving pending repairs after one person was killed when a Takata air-bag inflator exploded. The fatality in May is the first reported involving a Takata passenger-side bag, the National Highway Traffic Safety Administration (NHTSA) said in…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar declined to a two-month low against a major currency index on Tuesday after Federal Reserve officials signaled that the U.S. central bank is near the end of its tightening cycle, while sterling hit a 15-month high after pay growth exceeded expectations. Against the yen, the dollar…
By Lawrence Delevingne and Amanda Cooper (Reuters) -Global shares rose and the dollar pulled back on Tuesday, a day ahead of U.S. inflation data that could warrant a quicker end to Federal Reserve rate hikes, while the prospect of China propping up growth helped to lift oil and other commodities. Wall Street posted gains across…
