By Jonathan Stempel (Reuters) – Home Depot has agreed to pay $72.5 million to end a long-running class-action lawsuit alleging the largest U.S. home improvement retailer underpaid workers in California. The preliminary settlement was filed late Thursday in a San Francisco federal court, and requires a judge’s approval. Half of the settlement, after taking out…
MADRID (Reuters) – The co-founder of OceanGate Expeditions, which owned the submersible that imploded during a dive to the Titanic wreck, defended on Friday the chief executive’s commitment to safety and risk management after he died with four others on the craft. Guillermo Söhnlein, who co-founded OceanGate with Stockton Rush in 2009, left the company…
By Kannaki Deka (Reuters) -CarMax Inc said on Friday that vehicle affordability remains a challenge due to high interest rates and low consumer confidence, but cost cuts helped the used-car retailer post a quarterly profit beat. Shares of the company jumped 8.8% to $85.25 in early trade, as it also reported a better-than-expected first-quarter revenue….
(Reuters) – Southwest Airlines said on Friday it had reached a tentative agreement with the union representing the company’s mechanics and related employees. The Aircraft Mechanics Fraternal Association (AMFA), which represents more than 2800 Southwest employees, said the agreement, if ratified by members, will elevate salaries of aircraft maintenance technicians to “industry-leading” standards. Employees and unions…
By Dan Burns (Reuters) – U.S. business activity fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, closely watched survey data out Friday showed. The overall picture, though, indicated U.S. economic growth ticked up a notch in the second…
By Ann Saphir SAN FRANCISCO (Reuters) – Two more U.S. interest-rate hikes this year is a “very reasonable” projection, San Francisco Federal Reserve Bank President Mary Daly said, but given how fast rates have risen already and how close they are to where they probably need to be, it’s better to move more slowly and…
(Reuters) – New vehicle sales in the United States are seen to rise in June, according to a joint forecast from J.D. Power and GlobalData, as automakers are able to push more stock to dealers to meet the growing demand for personal mobility and new models. Total new-vehicle sales, including retail and non-retail transactions, in…
By Jack Queen (Reuters) -Liability waivers signed by passengers on a submersible lost at sea during a dive to the Titanic wreck may not shield the vessel’s owner from potential lawsuits by the victims’ families, legal experts said. The Titan submersible vanished on Sunday roughly two hours into its dive and was found in pieces…
(Reuters) – Russia will not inform the U.S. about the number of nuclear warheads it is stationing in Belarus or tests of its nuclear-capable Poseidon torpedo, the Interfax news agency quoted Deputy Foreign Minister Sergei Ryabkov as saying on Friday. Moscow and Minsk say Belarus has already begun receiving the Russian tactical, or short-range, nuclear…
(Reuters) – U.S. equity funds recorded their biggest outflows in 12 weeks for seven days ended June 21 as the Federal Reserve’s hawkish stance sparked worries of more rate hikes this year. Investors offloaded U.S. equity funds worth a net $16.47 billion in their biggest weekly net selling since March 29. They had bought into…
