By Tiyashi Datta and Abhirup Roy (Reuters) -EV makers Fisker Inc, Nikola Corp and Lucid Group disappointed investors with dull quarterly results and production target cuts, sending their shares lower on Tuesday and deepening worries about weak demand and an ongoing price war. EV market leader Tesla Inc’s move to slash prices and increase volume,…
By Saeed Azhar and Jonathan Stempel NEW YORK (Reuters) – Goldman Sachs Group Inc agreed to pay $215 million to settle a class action alleging widespread bias against women in pay and promotions, ending one of the highest-profile lawsuits claiming unequal treatment of women on Wall Street. The settlement disclosed on Monday covers about 2,887…
By Chibuike Oguh and Medha Singh (Reuters) -PacWest Bancorp shares regained earlier session losses on Tuesday as investor uncertainty about the financial health of U.S. regional banks underpinned skittish trading in their stocks. PacWest rose 2.3% after losing as much as 10% earlier in the day following a decision by the Los Angeles-based lender to…
By David Shepardson WASHINGTON (Reuters) -Norfolk Southern said on Tuesday it will establish a fund to reimburse homeowners who live near the site of a Feb. 3 train derailment in East Palestine, Ohio who sell their homes for less than what the property was worth before the incident. Norfolk Southern CEO Alan Shaw told senators…
GEORGETOWN (Reuters) – Guyana’s environmental regulator on Tuesday appealed a court decision that last week declared that the agency and Exxon Mobil unit breached oil-spill insurance obligations for the company’s first offshore project in the country. Guyana’s High Court Justice Sandil Kissoon said in his ruling that Exxon “engaged in a disingenuous attempt” to dilute…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices ticked up on Tuesday, reversing a more than 2% drop earlier in the session, as markets weighed U.S. government’s plans to refill the nation’s emergency oil reserve and anticipated higher seasonal demand. Brent crude settled 43 cents, or 0.6% higher, at $77.44 a barrel, while U.S. West Texas…
By Lisa Baertlein LOS ANGELES (Reuters) -Amazon.com is offering U.S. customers $10 to pick up a purchase rather than have it shipped to a home address, as the e-commerce giant joins other retailers in racing to slash costs for home delivery and returns amid slack consumer demand. Amazon said the promotion is not a cost-cutting…
By David Shepardson WASHINGTON (Reuters) – President Joe Biden on Tuesday revoked requirements that most international visitors to the United States be vaccinated against COVID-19 as well as similar rules for federal employees and contractors. Biden’s orders take effect at 12:01 a.m. ET May 12 with the expiration of the U.S. COVID public health emergency….
By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) -A gauge of global equities fell on Tuesday as investors grew cautious ahead of key data on U.S. consumer prices, while the impasse over the U.S. debt ceiling sparked a sharp sell-off in short-dated Treasury bills. Disappointing forecasts from companies such as PayPal and Apple supplier…
(Reuters) -Twilio Inc on Tuesday forecast second-quarter revenue below estimates on shrinking demand for cloud services, sending the company’s shares tumbling nearly 13% in extended trading. The San Francisco-based cloud service provider had benefited during the pandemic on strong demand from businesses looking to operate amid lockdowns, but its growth has inched lower as customers…
