By Akash Sriram and Hyunjoo Jin (Reuters) – With Elon Musk outlining plans for Tesla Inc to use traditional advertising for the first time, viewers might see the electric-vehicle maker’s Model Y crossover or upcoming Cybertruck pickup – maybe even the billionaire CEO himself – on TV or online. Musk revealed those plans on Tuesday…
By Arathy Somasekhar HOUSTON (Reuters) – Officials at the Port of Corpus Christi, the largest U.S. oil-export port by volume, on Wednesday said they intend to appoint an interim chief soon and to begin a search for a new CEO. The move comes a day after Sean Strawbridge, the port’s CEO since 2018, resigned at…
By Lisa Baertlein CHICAGO (Reuters) – U.S. freight railroads agree with most of federal lawmakers’ efforts to make the industry safer following the fiery Norfolk Southern train derailment in February, CSX Corp CEO Joe Hinrichs said on Wednesday. A U.S. Senate panel last week approved rail safety legislation that tightens rules on trains carrying explosive…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Investors in Asia go into Thursday with some major economic indicators from Japan and Australia and an interest rate decision from the Philippines on tap, and a spring in their step as hopes rise that a deal on…
By Jeff Mason and Kirsty Needham ABOARD AIR FORCE ONE/SYDNEY (Reuters) -U.S. President Joe Biden will arrange another summit of Pacific island leaders this year after the disappointment caused by his cancellation of a visit to Papua New Guinea due to the domestic debt ceiling crisis, his national security adviser said on Wednesday. Political analysts…
By Lisa Baertlein CHICAGO (Reuters) -The U.S. supply chain is healing from early pandemic shocks that sent shipping costs skyrocketing and squeezed supplies of everything from toilet paper to pasta, but more than three years later, material shortages and hiring woes linger. Rates for trucking, ocean shipping and other transportation tumbled after U.S. consumers shifted…
By Niket Nishant and Chibuike Oguh (Reuters) -Shares of U.S. regional lenders jumped on Wednesday on growing investor confidence that the worst of the banking crisis was likely over, following news of strong deposit growth at Western Alliance Bancorp. Deposits at Western Alliance grew by more than $2 billion in the three months to May…
By Kirsty Needham and David Brunnstrom SYDNEY/WASHINGTON (Reuters) – The United States and Palau agreed on Wednesday to renew a key strategic pact, part of U.S. efforts to shore up support among Pacific island states to counter competition from China, even as President Joe Biden called off a historic stop in the region. The two…
By Jody Godoy (Reuters) – Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion. U.S. District Judge Edward Davila set the date on Wednesday for Holmes, 39, to begin serving 11 years and three months in prison. Holmes…
By Dietrich Knauth NEW YORK (Reuters) – A U.S. bankruptcy judge on Wednesday ordered the U.S. Federal Deposit Insurance Corporation to return $10 million in seized tax refund checks to SVB Financial, the bankrupt former parent of failed Silicon Valley Bank. Judge Martin Glenn in Manhattan handed a victory to SVB Financial in broader dispute…
