GM overhauls North American commercial vehicle sales operations

By Joseph White DETROIT (Reuters) – General Motors Co will consolidate North American sales operations for commercial vehicles, parts and telematics services under a new brand umbrella, GM Envolve, that will compete with Ford Motor Co’s Ford Pro unit and others for revenue from business vehicle fleets. GM executives said the reorganization is aimed at…

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Yellen, at G7, to underscore U.S. commitment to Ukraine for ‘as long as it takes’

By Andrea Shalal NIIGATA, Japan (Reuters) – Treasury Secretary Janet Yellen on Thursday will underscore the United States’ commitment to continue supporting Ukraine for as long as needed, while working with other rich nations to degrade Russia’s ability to wage war against its neighbor. Yellen identified redoubled support for Ukraine as one of her three…

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Disney CEO questions continued Florida investment in clash with DeSantis

By Dawn Chmielewski and Lisa Richwine (Reuters) -Walt Disney Co Chief Executive Bob Iger on Wednesday accused Florida politicians of retaliating against the company and questioned the state’s interest in the entertainment conglomerate’s continued investment in Walt Disney World. Disney has accused Florida Governor Ron DeSantis and his supporters of “weaponizing” the state government to…

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Disney shares slip as streaming losses narrow but some subscribers leave

By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) – Walt Disney Co reduced streaming losses by $400 million from the prior quarter but also shed subscribers, the company reported on Wednesday as quarterly earnings landed in line with Wall Street expectations. Shares of Disney fell 4.4% in after-hours trading. A price increase and reduced…

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Nasdaq rallies as investors cheer inflation data, Alphabet

By Carolina Mandl and Shristi Achar A (Reuters) – The Nasdaq ended Wednesday at its highest intraday level in more than eight months, boosted by a slightly lower-than-expected increase in April inflation and Alphabet Inc’s latest artificial intelligence rollout. The Labor Department’s Consumer Price Index (CPI) rose 4.9% in April from a year ago, compared…

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US oil lobby blasts EPA emissions cuts plan, California likes it

By David Shepardson WASHINGTON (Reuters) – The largest U.S. oil and gas trade lobby group said on Wednesday it believes sharp emissions cuts proposed by the U.S. Environmental Protection Agency (EPA) would result in the elimination of new internal combustion vehicles. But a California air regulator said the EPA plan “will benefit the climate, air…

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Debt ceiling battle delays sweeping annual defense policy bill

By Patricia Zengerle WASHINGTON (Reuters) – U.S. congressional leaders on Wednesday put off debate on the National Defense Authorization Act, or NDAA, an annual bill setting policy for the Pentagon, as the must-pass legislation got caught up in debate over raising the country’s borrowing limit. House of Representatives Armed Services subcommittees had been scheduled to…

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