By Akash Sriram and Abhirup Roy (Reuters) -Electric vehicle (EV) maker Lucid Group Inc reported lower-than-expected first-quarter revenue on Monday and trimmed its 2023 production forecast as a price war sparked by Tesla, rising interest rates and recession fears hurt sales. Shares in the maker of the Air luxury sedan dropped about 9% in after…
By Ted Hesson and Mike Blake SAN DIEGO (Reuters) -The Biden administration and Texas state government are sending reinforcements to the U.S.-Mexico border to prepare for a possible increase in illegal immigration when COVID-19 restrictions known as Title 42 are set to end on Thursday. Hundreds of specialized investigative agents and air marshals from the…
By Dietrich Knauth (Reuters) – Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange. Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global,…
(Reuters) – The New York Times is getting around $100 million from Google over three years as part of a broad deal that allows the Alphabet Inc unit to feature Times content on some of its platforms, the Wall Street Journal reported on Monday. The deal includes the Times’ participation in Google News Showcase, a…
By David Morgan WASHINGTON (Reuters) – President Joe Biden and top Republicans and Democrats from Congress are set to sit down this week to try to resolve a three-month standoff over the $31.4 trillion U.S. debt ceiling and avoid a crippling default before the end of May. The Democratic president is calling on lawmakers to…
By Shreyashi Sanyal, Shristi Achar A and Carolina Mandl (Reuters) – U.S. stocks paused on Monday after a strong rally in the prior session as investors shift focus to a key inflation reading later this week. For most of the day, stocks struggled for direction amid disappointing earnings from Tyson Foods and Catalent and a…
By David Shepardson and Nandita Bose WASHINGTON (Reuters) -U.S. President Joe Biden on Monday said his administration is writing new rules that will require airlines to compensate passengers with cash for significant flight delays or cancellations when the carriers are responsible. “Our top priority has been to get American air travelers a better deal,” Biden…
By Brendan Pierson (Reuters) – A group of abortion providers on Monday filed a lawsuit aiming to preserve access to the abortion pill mifepristone as anti-abortion opponents aim to ban it in a separate case. The lawsuit, filed in federal court in Charlottesville, Virginia, is similar to one filed in Spokane, Washington by the Democratic…
(Reuters) – California’s financial regulator failed to press leadership at Silicon Valley Bank to address known problems quickly enough before the lender imploded in March, according to a report released Monday in which the agency pledged to do better in the future. The post-mortem by California’s Department of Financial Protection and Innovation (DFPI) follows a…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – Treasury Secretary Janet Yellen said on Monday that a failure by Congress to raise the $31.4 trillion federal debt limit would cause a huge hit to the U.S. economy and weaken the dollar as the world’s reserve currency. Asked whether the U.S. Treasury could prioritize payouts…
