By Michael S. Derby NEW YORK (Reuters) – Federal Reserve emergency lending to banks, which hit record levels last week, remained high in the latest week amid ongoing anxiety over the state of the financial system, Federal Reserve data released Thursday showed. The Fed reported that discount window borrowing, its main source of emergency credit…
By Foo Yun Chee BRUSSELS (Reuters) – Microsoft Corp’s initial offer to address EU antitrust complaints filed by rivals is insufficient and the U.S. software giant needs to do more, German software provider Nextcloud said, as regulators consider whether to open a formal investigation. French cloud computing services provider and complainant OVHcloud is also waiting…
By Siddharth Cavale NEW YORK (Reuters) -Hundreds of workers at five U.S. Walmart facilities that fulfill e-commerce orders are being asked to find jobs within 90 days at other company locations, a spokesperson confirmed to Reuters. About 200 workers at Pedricktown, New Jersey, and hundreds of others at Fort Worth, Texas; Chino, California; Davenport, Florida;…
By Allison Lampert and Abhijith Ganapavaram MONTREAL (Reuters) -Business jet maker Bombardier Inc on Thursday raised 2025 revenue and free cash targets at its investor day and said it would produce more planes, despite broader economic headwinds. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying in the U.S….
By Sam Tobin and Clara Denina LONDON (Reuters) -Aluminium giant Rusal plans to bring a further lawsuit in London against Vladimir Potanin, CEO of Nornickel, court documents show, marking the latest flare-up in relations between two of Russia’s biggest metal companies. Rusal wishes to “bring certain further claims” against Potanin and his affiliate Whiteleave Holdings…
(Reuters) – TikTok Chief Executive Shou Zi Chew has mostly kept a low profile since taking the job in 2021 but on Thursday he is testifying before U.S. lawmakers, many of them suspicious of the popular Chinese-owned social media app. Chew previously worked as an investment banker at Goldman Sachs and investment firm DST, which…
By David Shepardson WASHINGTON (Reuters) -TikTok’s chief executive faced tough questions on Thursday from lawmakers who are convinced the Chinese-owned short video app should be barred for being a potential national security threat to the United States. CEO Shou Zi Chew’s testimony before Congress capped a week of actions by the Chinese company aimed at…
WASHINGTON (Reuters) – The Biden administration on Thursday added 14 Chinese entities to a red flag list, forcing U.S. exports to conduct greater due diligence before shipping goods to them because U.S. officials have been unable to inspect the listed entities. Being added to the list can potentially start a 60-day clock that could trigger…
(Reuters) – Shares of Coinbase Global Inc fell 13% in premarket trading on Thursday after the U.S. Securities and Exchange Commission issued a notice declaring its intent to recommend an enforcement action against the crypto exchange’s products. Global regulators are keeping a close watch on the crypto world after a string of high-profile collapses wiped…
By Makiko Yamazaki TOKYO (Reuters) – Toshiba Corp’s board has accepted a buyout offer from a group led by private equity firm Japan Industrial Partners, valuing the company at 2 trillion yen ($15.2 billion), the company said on Thursday. A successful deal would see the scandal-ridden industrial conglomerate taken private and firmly in domestic hands…
