By Ross Kerber (Reuters) – Investors have proposed shareholder resolutions at two U.S. railroads calling for paid sick leave for workers, an issue that nearly caused a national rail strike, and they could go to an advisory vote at shareholder meetings in the spring. On Friday President Joe Biden signed legislation to block a rail…
WASHINGTON (Reuters) – A U.S. agency that probes allegations of deceptive conduct confirmed on Monday that it had investigations open into several cryptocurrency firms for “possible misconduct.” The Federal Trade Commission spokesperson declined to name the firms or say precisely what actions prompted the investigations. “While we can’t comment on current events in the crypto…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Wall Street slumped on Monday, battered by the old ‘good news is bad news’ adage following unexpectedly strong U.S. service sector activity figures, which should set a negative tone for Asian markets on Tuesday. But could Asia be…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell over 3% on Monday, following U.S. stock markets lower, after U.S. service sector data raised worries that the Federal Reserve could continue its aggressive policy tightening path. Brent crude futures settled down $2.89, or 3.4%%, at $82.68 a barrel. West Texas Intermediate crude (WTI) fell $3.05,…
BEIJING (Reuters) – Chinese solar panel maker LONGi Green Energy Technology Co. Ltd said on Monday it will provide evidence to show it is complying with U.S. laws after the U.S. Department of Commerce found it to be circumventing tariffs. The United States will impose new duties on imports from LONGi and three other Chinese…
By Lisa Baertlein (Reuters) -The first electric delivery trucks rolled off production lines at BrightDrop’s new factory in Canada on Monday, when the upstart unit of General Motors Co also announced DHL Express Canada as its first customer outside the United States. GM spent seven months and more than $2 billion transforming its 2 million-square-foot…
(Reuters) – Germany will set up so-called climate protection contracts with industrial companies next year to support a transition towards cleaner production and a switch to hydrogen, Economy Minister Robert Habeck said on Sunday. “The aim is to efficiently develop a green industry along the value chain that becomes marketable,” Habeck was quoted as saying…
By Jonathan Stempel NEW YORK (Reuters) – Bill Hwang is seeking the dismissal of his U.S. fraud indictment over the collapse of his once-$36 billion Archegos Capital Management LP, saying prosecutors committed misconduct by sandbagging him when building their case. Hwang made the request in a Friday night filing in Manhattan federal court, where he…
By Rhea Binoy (Reuters) – Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd said on Saturday it ins cutting 600 jobs in its corporate and technology departments. India’s IPO-bound Oyo will cut 10% of its 3,700-employee base, while at the same time hiring 250 people, it said in a statement. Product and engineering…
By Valentina Za MILAN (Reuters) -UniCredit will reassess the remuneration of CEO Andrea Orcel ahead of its 2023 general meeting to see if the results achieved by Italy’s second-biggest bank in 2021-2022 warrant an increase, a document on its website showed. UniCredit Chairman Pier Carlo Padoan said in an emailed comment late on Friday that…
