(Reuters) – SoftBank Group Corp has moved to sell almost all of its remaining shares in Alibaba Group Holding Ltd, the Financial Times reported on Wednesday citing regulatory filings it had analyzed. The forward sales, which FT analyzed based on filings sent to the U.S. Securities and Exchange Commission, will eventually cut SoftBank’s stake in…
By Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday called for the World Bank to implement further reforms this year to expand its ability to help developing countries meet global challenges such as climate change. Yellen hosted talks with global finance officials to discuss an initial spate of balance sheet changes that…
By Lisa Baertlein LOS ANGELES (Reuters) -The International Brotherhood of Teamsters union on Wednesday said it would not begin national contract negotiations with United Parcel Service as planned next week unless local supplemental contracts are completed. The largest private sector labor negotiations covering some 340,000 Teamsters-represented workers at UPS are scheduled to begin on Monday,…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday called for continued significant aid to Ukraine as it battles against Russia’s invasion, and lauded Ukrainian authorities for their focus on good governance and anticorruption. Yellen, who paid a surprise visit to Kyiv in February, spoke at the start of a ministerial meeting on Ukraine…
By Brendan Pierson NEW YORK (Reuters) -E-cigarette maker Juul Labs Inc agreed on Wednesday to pay $462 million over eight years to settle claims by six U.S. states including New York and California, along with the District of Columbia, that it unlawfully marketed its addictive products to minors. The deal, which also included Colorado, Illinois,…
(Reuters) -Economists at Goldman Sachs no longer expect the U.S. Federal Reserve to raise interest rates in June, according to a research note published on Wednesday following data that showed consumer prices cooled faster than expected in March. Goldman Sachs had previously expected consecutive rate hikes at the Fed’s May and June meetings. Economists led…
TORONTO (Reuters) – Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank left its key interest rate on hold at a 15-year high of 4.50%. MACKLEM ON NEEDING A PERIOD OF WEAK GROWTH “I would remind…
CHENGDU, China (Reuters) -Chinese electric vehicle maker Zeekr on Wednesday launched a compact, all-electric sports utility vehicle, as it targeted a premium market in China that has been dominated by German automakers. The Geely-owned brand said it also planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Europe without saying…
(Reuters) -Alphabet Inc’s self-driving technology unit Waymo said on Wednesday that some of its vehicles in San Francisco encountered dense fog and briefly pulled over to the side of the road. The incident, which occurred at around 6.00 a.m. Pacific Time on Tuesday, impeded some traffic movement before the cars moved out of the area…
By Karen Brettell NEW YORK (Reuters) – The dollar dropped sharply on Wednesday after data showed that U.S. consumer prices rose less than expected in March, possibly reducing the odds that the Federal Reserve will continue to hike interest rates. The Consumer Price Index (CPI) rose by 0.1% in March, below economists’ expectations for a…
