By Patricia Zengerle WASHINGTON (Reuters) – U.S. Senate Democrats released a letter from Secretary of Defense Lloyd Austin on Wednesday saying a Republican’s decision to hold military nominations harms national security, intensifying a dispute over the military’s abortion policy. Republican Senator Tommy Tuberville has been blocking more than 150 military nominations from moving forward for…
By Daniel Wiessner (Reuters) – A Black former Tesla Inc factory worker has accused the electric automaker’s lawyers of “egregious misconduct” after a jury awarded him $3.2 million in a race bias case, and asked for a third trial so he can seek more money. Lawyers for plaintiff Owen Diaz said in a filing in…
By Davide Barbuscia NEW YORK (Reuters) -The cost of insuring exposure to U.S. government debt rose to fresh highs on Wednesday, as President Joe Biden and top lawmakers remained deadlocked in talks over raising the $31.4 trillion federal borrowing limit. Spreads on U.S. one-year credit default swaps (CDS) – market-based gauges of the risk of…
By Mike Scarcella (Reuters) – Caesars Entertainment Inc, MGM Resorts International and other casino-hotel operators in Atlantic City, New Jersey, have been sued by consumers in a proposed class action accusing them of artificially boosting room rental rates in violation of U.S. antitrust law. The 109-page lawsuit filed on Tuesday also named Hard Rock International…
NEW YORK (Reuters) – North American coffee shop chain Tim Hortons will enter the retail market in South Korea later this year, its parent company Restaurant Brands International said in a statement on Wednesday. The company said the new stores in the Asian country, one of the fastest growing coffee markets in the world, would…
By Jonathan Stempel and Jack Queen NEW YORK (Reuters) -Former Elle magazine advice columnist E. Jean Carroll said on Wednesday she felt “fantastic” after a jury a day earlier found Donald Trump liable for sexually abusing and defaming her, and awarded her $5 million in damages in her civil lawsuit against the former U.S. president….
By Chris Prentice NEW YORK (Reuters) – Federal prosecutors in Washington are looking into short seller activity around the recent volatility in U.S. bank shares sparked by the failure of three regional lenders since March, a source familiar with the matter said. Short sellers, traders that profit by betting shares will fall, have come under…
By Akash Sriram (Reuters) – Shares of Rivian Automotive Inc rose nearly 6% on Wednesday as the company’s positive earnings stood out in a poor quarter for electric-vehicle startups, but analysts warned that stiff competition will be a hurdle in its path to profitability. The company looked set to add about $700 million to its…
By Lisa Pauline Mattackal (Reuters) – Private-credit firms are eyeing fresh opportunities from a potential borrowing squeeze in the United States as battered regional banks tighten lending after the turmoil in the sector, according to fund managers and investment strategists. About 46% of the banks surveyed by the Federal Reserve reported tightening lending standards during…
(Reuters) -Lithium companies Allkem Ltd and Livent Corp said on Wednesday they will combine in an all-stock $10.6 billion deal to create the world’s third-largest producer of the metal used to make electric vehicle batteries. Shares of Livent were up about 5.4% to $25.53 in late morning trading on the New York Stock Exchange. Allkem’s…
