By Patricia Zengerle WASHINGTON (Reuters) – Democratic and Republican U.S. senators announced legislation on Thursday authorizing President Joe Biden’s administration to negotiate a tax agreement with Taiwan, seeking to foster investment as Washington works to shore up the island against a rising China. The senators, led by Senate Foreign Relations Committee Chairman Bob Menendez and…
By Brendan Pierson (Reuters) -The Kroger Co has agreed to pay West Virginia $68 million to settle claims that it fueled the opioid epidemic through lax oversight of its pill sales, bringing the state’s years-long litigation over the opioid crisis to a close. The deal, announced Thursday by West Virginia Attorney General Patrick Morrisey, comes…
By Richard Cowan WASHINGTON (Reuters) – A fresh push for a bipartisan immigration overhaul, coupled with enhanced border security, is emerging in the U.S. Congress, as thousands of migrants amass across the border in Mexico ahead of the end of COVID-era border restrictions next week. The latest among those efforts is a last-minute legislative push…
By Karen Brettell NEW YORK (Reuters) – The dollar rose on Thursday against the euro after the European Central Bank eased its pace of rate hikes, a day after the Federal Reserve hiked rates by 25 basis points and indicated that it may pause further increases. The ECB’s 25-basis-point increase was the smallest since it…
By Medha Singh and Chibuike Oguh (Reuters) -Shares of PacWest Bancorp plunged on Thursday, dragging other regional lenders down after the Los Angeles-based bank’s plan to explore strategic options sparked investor worries of a widening financial crisis. PacWest’s stock slumped more than 40% in afternoon trading, dropping to a record low. The bank had confirmed…
By Laura Sanicola (Reuters) – Oil prices settled nearly unchanged on Thursday after the European Central Bank (ECB) decided to slow the pace of interest rate hikes, with prices still down more than 9% for the week on demand concerns in major consuming countries. Brent futures settled up 17 cents, or 0.24%, to $72.50 a…
(Reuters) – Air France-KLM said on Thursday it had entered exclusive talks with private equity firm Apollo Global Management for a 500 million euro capital injection into an affiliate owning Engineering and Maintenance assets. (Reporting by Mrinmay Dey in Bengaluru; Editing by Leslie Adler)
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission is focused on identifying and prosecuting any form of misconduct that might threaten investors, capital formation or markets more broadly, SEC Chair Gary Gensler told Reuters on Thursday. Gensler made the comment in a written response when asked about a Reuters report that federal and…
By Rich McKay ATLANTA (Reuters) -A former U.S. Coast Guardsman accused of killing a woman and wounding four others in a shooting in an Atlanta medical building was denied bail on Thursday. The suspected gunman, identified as 24-year-old Deion Patterson, had waived his right to appear at the court hearing during which Fulton County Magistrate…
(Reuters) – U.S. oil and gas producer ConocoPhillips on Thursday said it sees “light at the end of the tunnel” in long-running claims for expropriation of its Venezuelan assets. Conoco has a more than $8 billion arbitration award on the 2007 expropriation of three oil projects in Venezuela, and is pursuing another lawsuit in the…
