By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department (USDOT) said on Monday it fined LATAM Airlines Group SA $1 million after the airline and affiliates routinely failed to provide timely refunds to passengers for U.S. flights. The department said since March 2020, it received more than 750 complaints alleging LATAM, the biggest carrier in…
By Timothy Gardner WASHINGTON (Reuters) -The U.S. Energy Department on Monday canceled a $200 million grant for lithium battery company Microvast Holdings, a source familiar with the matter said, after lawmakers cited concerns over its alleged links to China’s government. The department had been in talks with Microvast over the grant to help build a…
By David Morgan and Nandita Bose WASHINGTON (Reuters) -President Joe Biden and House Speaker Kevin McCarthy ended discussions on Monday with no agreement on how to raise the U.S. government’s $31.4 trillion debt ceiling and will keep talking with just 10 days before a possible default that could sink the U.S. economy. The Democratic president…
By Jonathan Stempel (Reuters) – Abbott Laboratories persuaded a federal judge to dismiss some claims in nationwide litigation over recalled baby formula. In a decision on Monday, U.S. District Judge Matthew Kennelly in Chicago dismissed claims by parents pursuing only “economic loss” claims related to Similac and other formula that they said had a “substantial…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Creeping optimism that a deal will be reached over the U.S. debt ceiling standoff looks to be just about enough to sustain investors’ risk appetite, although Asian markets on Tuesday could be vulnerable to a reversal. Flash purchasing…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, leaving just 10 days for White House negotiators and congressional Republicans to reach a deal. In her third letter to…
(Reuters) – TikTok filed a federal lawsuit on Monday against Montana after the state passed a law banning the short-video app. “We are challenging Montana’s unconstitutional TikTok ban to protect our business and the hundreds of thousands of TikTok users in Montana,” TikTok said in the court filing. (Reporting by Jasper Ward and David Shepardson…
By Nupur Anand and Lananh Nguyen NEW YORK (Reuters) – JPMorgan Chase & Co is beefing up its commercial banking business that caters to tech startups and other early-stage companies, the company said on Monday. The largest U.S. lender plans to add staff after it hired more than a hundred bankers this year to serve…
By Elvira Pollina and Amy-Jo Crowley MILAN/LONDON (Reuters) – German media group ProSiebenSat.1 and European pay-TV operator Sky have revived talks over a combination of their businesses in Germany, four sources familiar with the matter said on Monday. German broadcasters are struggling to reshape their business to compete with online streaming players such as Netflix…
By Stephen Nellis (Reuters) – Intel Corp on Monday provided a handful of new details on a chip for artificial intelligence (AI) computing it plans to introduce in 2025 as it shifts strategy to compete against Nvidia Corp and Advanced Micro Devices Inc. At a supercomputing conference in Germany on Monday, Intel said its forthcoming…
