By Stephen Culp (Reuters) – The S&P 500 and the Nasdaq closed higher on Thursday as U.S. Federal Reserve Chairman Jerome Powell continued to beat a hawkish drum and suggested the central bank has not reached the end of its tightening cycle, but provided reassurance that the Fed would proceed with caution. The tech-heavy Nasdaq’s…
By Andrew Hay (Reuters) -The armorer for the movie “Rust” transferred drugs to someone on the day the film’s cinematographer was shot dead in 2021, special prosecutors said on Thursday as she faced a new charge of tampering with evidence. Prosecutors said the additional charge against Hannah Gutierrez-Reed related to the Oct. 21, 2021, transfer…
NEW YORK (Reuters) – Citigroup will start holding employees “accountable” for compliance with hybrid work model rules, the bank said in a statement on Thursday. Bloomberg reported earlier the bank will start to check whether employees are complying with the requirement of working at least three days a week in the office. “We are committed…
By David Shepardson WASHINGTON (Reuters) – The states of California, New York, Illinois, Minnesota, Washington and Wisconsin have joined a Federal Trade Commission (FTC) lawsuit to stop Amgen’s $27.8 billion deal to buy Horizon Therapeutics, according to a court filing on Thursday. Washington Attorney General Bob Ferguson said his state had joined the lawsuit because…
By Ernest Scheyder LAS VEGAS (Reuters) – Lithium producers are growing anxious that delays in mine permitting, staffing shortages and inflation may hinder their ability to supply enough of the battery metal to meet the world’s aggressive electrification timelines. Once a niche metal used primarily in ceramics and pharmaceuticals, lithium is now one of the…
(Reuters) – Special purpose acquisition company (SPAC) Tastemaker Acquisition Corp said on Thursday its planned $989 million merger with jewelry distributor Quality Gold had been terminated due to challenging market conditions. Market reception for SPACs has been frosty since late 2021 after some companies that went public via the SPAC route performed poorly on the…
(Reuters) – Ford Motor is preparing for a new round of layoffs for its salaried workers in the United States, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The company in March last year announced plans to reduce structural costs of up to $3 billion at its gas-powered vehicle unit….
By Eliana Raszewski BUENOS AIRES (Reuters) -Argentina has directly asked U.S. President Joe Biden for support in the country’s talks with the International Monetary Fund (IMF) to revamp its $44 billion debt deal, in a letter signed by regional leaders from Brazil, Mexico and elsewhere. The South American nation, battling dwindling foreign currency reserves, 100%-plus inflation…
(Reuters) – Quality of new vehicles sold in the United States is declining as factors such as growing use of technology and lower build quality of certain parts are making the models more “problematic”, according to automotive consultant J.D. Power. Build quality of certain parts such as audio systems and cup-holders have resulted in quality…
By David Shepardson WASHINGTON (Reuters) – A U.S. appeals court panel Thursday vacated an April 2022 ruling that had declared unlawful a government order requiring masks on airplanes and other transportation modes during the COVID-19 pandemic. The Justice Department had asked 11th Circuit Court of Appeals to declare the issue moot after President Joe Biden…
