By Michael Martina WASHINGTON (Reuters) – A U.S. congressional war game simulating a Chinese invasion of Taiwan showed the need to arm the island “to the teeth,” the chair of a committee on China said on Thursday, after the exercise indicated the U.S. must boost production of long-range missiles and businesses must brace for economic…
By Dietrich Knauth (Reuters) -U.S. veterans and members of the military on Wednesday urged a judge to dismiss 3M’s bid to use the bankruptcy of its subsidiary Aearo Technologies to shield itself from nearly 260,000 lawsuits over military-issue earplugs that former users allege were defective and damaged their hearing. 3M and Aearo say the earplug…
WASHINGTON (Reuters) – The U.S. banking system remains sound and the U.S. government will take “any necessary steps” to keep it the strongest and safest financial system in the world, U.S. Treasury Secretary Janet Yellen said on Thursday. Yellen said decisive U.S. actions taken after the failure of two regional banks had shored up the…
By Manya Saini (Reuters) – A clutch of U.S. regional lenders on Thursday joined peers in reporting deposit outflows for the first quarter as customers spooked by a banking crisis moved funds to bigger institutions or sought higher yields in money market funds. Shares in Fifth Third Bancorp, Comerica, Truist Financial Corp and KeyCorp fell…
By Khushi Mandowara (Reuters) – U.S. hospital operators are expected to report strong revenue for the first quarter, while investors will also focus on results for cues on the impact to future earnings following an end to COVID-related insurance protection. Beginning April 1, states were allowed to begin the process of re-determining if people qualify…
WASHINGTON (Reuters) – U.S. existing home sales fell in March as a reversal in mortgage rates likely pushed buyers back to the sidelines, but there are tentative signs that the housing market slump is close to reaching a bottom. Existing home sales dropped 2.4% to a seasonally adjusted annual rate of 4.44 million units last…
By Andrew Goudsward (Reuters) – The $787.5 million settlement that ended Dominion Voting Systems’ defamation lawsuit against Fox Corp also marks the end of a lucrative, two-year legal battle for the sprawling teams of highly-paid lawyers on both sides. At least 31 lawyers from nine different law firms worked on the case, court filings show….
By Mrinalika Roy (Reuters) – From cannabis-infused flowers to edible weed gummies, marijuana companies are pulling out all the stops as they eye bumper sales on April 20 – a day referred to as “4/20” in weed culture. Industry insiders expect highest single-day sales ever for the cannabis sector on Thursday even as the industry…
LONDON (Reuters) – Amazon plans to expand its business selling office supplies in Europe and internationally after the pandemic helped boost sales as companies shopped more online and looked for bulk discounts. Amazon Business’ gross sales in Europe grew at a compound annual rate of 25% from 2020 to 2022, vice president Alexandre Gagnon said…
By Ben Blanchard TAIPEI (Reuters) – Taiwan’s Starlux Airlines Co Ltd is pushing Airbus SE to speed up deliveries as it seeks to expand its routes beyond Asia to keep up with booming post-pandemic demand, the carrier’s chief executive said. Starlux, Taiwan’s newest full-service airline, launched its first flights in 2020 and serves destinations including…
