By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department (USDOT) announced on Monday it is issuing a new rule to make it easier for regulators to move faster to protect airline customers from unfair and deceptive practices. The new regulation, which was reported earlier by Reuters, will simplify and speed hearing procedures the department uses…
MEXICO CITY (Reuters) -Walmart’s Mexico unit is considering “strategic alternatives” to its operations in Central America, including a sale or joint venture, the company said on Monday. Walmart de Mexico, known locally as Walmex, runs about 860 stores in Central America, making up almost a fourth of its footprint. The region’s revenue totaled 30 billion…
(Reuters) – The Biden administration is readying a U.S. export rule used against Chinese telecoms equipment maker Huawei that could curb Russia’s access to global electronics supplies if President Vladimir Putin decides to invade Ukraine. While it is unclear how the rule could impact Russia, the restrictions hobbled Huawei’s smartphone business. Last month, the company…
By David Shepardson and Doina Chiacu WASHINGTON (Reuters) -Texas, Indiana, Washington State and the District of Columbia sued Alphabet Inc’s Google on Monday over what they called deceptive location-tracking practices that invade users’ privacy. “Google falsely led consumers to believe that changing their account and device settings would allow customers to protect their privacy and…
(Reuters) – IBM beat fourth-quarter revenue expectations on Monday, bolstered by its cloud and consulting businesses as more enterprises turned to the IT giant to digitize operations. Revenue at the consulting business, a segment where IBM competes with Accenture Plc and SAP, rose 13.1% to $4.75 billion. The 110-year-old company has doubled down on the…
(Refiles to insert Global Markets tag in headline) By Pete Schroeder WASHINGTON (Reuters) – The selloff on Wall Street worsened Monday and oil prices turned lower as rising geopolitical tensions and the Fed’s plans to reduce economic stimulus took their toll on investors. Jitters over the prospect of a Russian attack on Ukraine and anticipated…
By Nivedita Balu (Reuters) -Shopify Inc said on Monday proposed changes to its fulfillment network would help merchants on its ecommerce platform compete better with big retailers and would not reduce capacity, fueling a sharp recovery in its shares. Shares of the Canadian company rose as much as 9.6% in afternoon trading following the statement….
By Jonathan Stempel NEW YORK (Reuters) – Tesla Inc on Monday fought back against JPMorgan Chase & Co over a disputed bond contract, countersuing the bank for seeking a “windfall” following Elon Musk’s notorious 2018 tweet that he might take his electric car company private. In a filing in Manhattan federal court, Tesla accused JPMorgan…
By Nivedita Balu (Reuters) -Canadian e-commerce giant Shopify Inc said on Monday proposed changes to its fulfillment network would not reduce capacity to meet the needs of its customers, helping shares reverse course to trade up 7%. Shares plunged nearly 9% earlier in the session to an 18-month low, weighed down by a global tech…
By David Gaffen NEW YORK (Reuters) – Oil prices fell about 2% on Monday, hit by investor concerns over the possibility of quicker than expected interest-rate hikes by the U.S. Federal Reserve that took down risk markets such as equities while the dollar rallied. Wall Street stocks slumped, after last week posting their worst week…
