By David Shepardson WASHINGTON (Reuters) – United Auto Workers (UAW) union President Shawn Fain and U.S. Senator Bernie Sanders on Thursday criticized a General Motors joint venture battery plant for paying workers much less than assembly plant employees even though it benefits from hefty U.S. government tax credits. Workers at the Warren, Ohio, joint venture…
By Manas Mishra and Patrick Wingrove (Reuters) – Drugmakers including Merck & Co, AstraZeneca Plc and AbbVie Inc said on Thursday they are open to acquisitions and reported a ramp up in research and development spending as the industry’s larger players look for new sources of future revenue. Several top drugs such as AbbVie flagship…
By Laura Sanicola (Reuters) – Marathon Petroleum will pay a $27.5 million penalty and surrender emissions trading credits after the operator of the Martinez, California, plant violated a legal agreement requiring it to lower pollution levels, the U.S. Department of Justice said on Thursday. Tesoro Refining and Marketing failed to limit nitrous oxides emissions (NOx)…
LONDON (Reuters) – British businesses were their most optimistic in nearly a year in April, boosted by growing hopes about the economy, according to a Lloyds Bank survey on Friday that could add to pressure on the Bank of England to keep on raising interest rates. Lloyds said its Business Barometer gauge of confidence –…
By Dietrich Knauth (Reuters) – Defunct talc supplier Whittaker, Clark & Daniels has filed for Chapter 11 bankruptcy, citing on Thursday a “deluge” of lawsuits alleging that its talc products caused asbestos exposure and cancer. Whittaker operated one of the largest talc and industrial compound supply and distribution businesses in the U.S. in the 1970s…
(Reuters) – The Norwegian central bank on Thursday excluded two oil and gas companies from its $1.4-trillion wealth fund, the world’s largest, citing ethical concerns over their ties to the Myanmar military. South Korea’s state-run Korea Gas Corp (KOGAS) and Indian gas firm GAIL (India) Ltd were excluded from the fund, Norges Bank said in…
By Tim McLaughlin and Sarah N. Lynch WORCESTER, Massachusetts (Reuters) – A U.S. Air National Guardsman accused of leaking military secrets appeared in federal court on Thursday, where a judge expressed concern the 21-year-old’s knowledge of classified material might be valuable to a foreign government. “Some of the information he” is accused of taking “he…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed sharply higher on Thursday and Treasury yields resumed their climb as strong earnings helped investors look past signs of economic weakness. All three major U.S. stock indexes surged in a broad rally, with megacap tech and tech-related companies boosting the Nasdaq to its biggest one-day…
BERLIN (Reuters) – German media group ProSiebenSat.1 said on Thursday it was replacing its chief financial officer and proposing slashing this year’s dividend as it announced a nearly 20% drop in operating profit in 2022 to 678 million euros ($747.56 million). The board will propose to the annual general meeting (AGM) a dividend of 0.05…
By Mimosa Spencer NEW YORK (Reuters) – As Tiffany & Co. celebrates its freshly refurbished New York City flagship, “The Landmark,” behind the scenes, top executives are also focused on a retail overhaul further afield — in China, its second biggest market. “There is huge opportunity for Tiffany in China,” Tiffany & Co. Chief Executive…
