By Dietrich Knauth (Reuters) – A U.S. bankruptcy judge on Thursday criticized the Securities and Exchange Commision for casting vague doubts about crypto lender Voyager Digital’s proposed sale to Binance.US, saying the regulator had essentially asked to “stop everybody in their tracks” without explaining how to address its concerns. U.S. Bankruptcy Judge Michael Wiles made…
By Dawn Chmielewski (Reuters) – Universal Music Group NV, the world’s largest record label, said quarterly revenue from music streaming surpassed 1 billion euros ($1.06 billion) for the first time in the fourth quarter, a milestone that underscores its continued importance to the music business. Even as Universal Music’s chairman and CEO Lucian Grainge lauded…
By David Shepardson WASHINGTON (Reuters) – Ford Motor Co said Thursday it will restart production of its F-150 Lightning on March 13 after it halted output of the electric truck after a battery fire in early February. Ford has not set a date for resuming deliveries. The U.S. automaker said as it “ramps up production,…
By Kanishka Singh WASHINGTON (Reuters) -The U.S. Federal Trade Commission’s lone Republican commissioner, Christine Wilson, will step down from her role at the end of March, she said in a letter to President Joe Biden on Thursday, in which she criticized FTC Chair Lina Khan. “Under her (Khan’s) leadership, knowledgeable career staff have been scorned…
By David Shepardson WASHINGTON (Reuters) -Ford Motor Co said it is recalling 98,500 older Ranger pickup trucks in the United States because replacement front passenger air bag inflators may have been installed incorrectly. The new recall covers 2004-2006 model year Ranger trucks recalled in 2017 and 2018 to replace a small number of inflators that…
By Nivedita Balu and Akash Sriram (Reuters) -Tesla Inc’s shares fell about 7% on Thursday, after Chief Executive Elon Musk and team’s four-hour presentation failed to impress investors looking out for an announcement on an affordable electric car and a plan with a concrete timeline. Musk and more than a dozen executives laid out fresh…
(Reuters) -Kroger Co forecast annual profit above Wall Street estimates on Thursday, as the supermarket chain benefits from higher prices, easing cost pressures and steady demand for its groceries and other essentials. Shares of Kroger, which has inked a $25 billion deal to buy smaller rival Albertsons Companies Inc, climbed about 3% in premarket trading….
(Reuters) – Toronto-Dominion Bank on Thursday posted higher quarterly profit, lifted by strong performance in its Personal and Commercial Banking business in Canada. The lender’s adjusted net income was C$4.2 billion ($3.09 billion), or C$2.23 per share, in the three months ended Jan. 31, compared with C$3.8 billion, or C$2.08 per share, a year earlier….
FRANKFURT (Reuters) – Euro zone inflation fell less than expected last month and underlying price growth surged, reinforcing the case for the European Central Bank to keep raising interest rates at a brisk pace, data from Eurostat showed on Thursday. Consumer price inflation in the 20 countries sharing the euro currency eased to 8.5% in…
MADRID (Reuters) – A joint venture between the U.S. unit of Spanish engineering group ACS and Philadelphia-based Yates Construction has won a contract to build an electric vehicle (EV) battery plant in Kansas as part of a $4 billion investment by Japan’s Panasonic group, the companies said on Wednesday. The EV battery factory in the…
