By Ross Kerber (Reuters) – New York City’s top pension official has urged Bank of America’s board to claw back pay from executives after the bank agreed to pay $250 million to settle regulatory claims that it double-charged customers and took other steps without authorization. Since the financial crisis of 2008, provisions to recover pay…
By Shivangi Acharya and Sarita Chaganti Singh GANDHINAGAR, India (Reuters) -Several G20 members condemned Russia’s move to quit an agreement that allowed safe export of grain from Ukraine, India’s finance minister said on Tuesday, as concerns rise in poorer countries over a rise in food prices following Moscow’s decision. Russia halted participation in the United…
(Reuters) – OpenAI is committing $5 million to the American Journalism Project (AJP) under a partnership that will look for ways to support local news through artificial intelligence, the Microsoft-backed startup said on Tuesday. The deal will also give the non-profit and related organizations up to $5 million in OpenAI credits for the use of…
TUNIS (Reuters) – The Tunisian defense ministry said on Tuesday it had received four T-6C training aircraft from the United States, as part of cooperation to renew its fleet of training aircraft for the air force. Last month, four Tunisian soldiers died after a military aircraft crashed into the sea, an accident that President Kais…
MADRID (Reuters) – Spain’s High Court on Tuesday ordered that global police agency Interpol immediately extradite a former director of Venezuelan military intelligence to the United States, where he is wanted on drug trafficking charges, from Spain. The decision comes after the European Court of Human Rights last week denied an effort by Hugo Carvajal…
SEOUL (Reuters) -South Korea said on Tuesday it would challenge an arbitration ruling that ordered it to pay U.S. hedge fund Elliott Investment Management $108.5 million in a case involving the 2015 merger of two Samsung Electronics affiliates. The U.S. activist fund had sued over the role played by South Korea’s National Pension Service in…
By Mike Stone WASHINGTON (Reuters) – The United States will announce a new pledge to buy $1.3 billion worth of military aid for Kyiv in its conflict with Russia in the coming days, two U.S. officials said. The previously unreported weapons package includes air defenses, counter-drone systems, exploding drones and ammunition, one of the U.S….
By Chiara Elisei and Dhara Ranasinghe LONDON (Reuters) – The spectre of rising corporate debt defaults exacerbating a global economic slowdown has for months been largely brushed aside by resilient credit markets. Now, long-feared corporate debt woes are starting to hit home, while more companies are being downgraded to a junk credit rating – facing…
WASHINGTON (Reuters) – Production at U.S. factories unexpectedly fell in June, but rebounded in the second quarter as motor vehicle output accelerated after two straight quarterly declines. Manufacturing output dropped 0.3% last month, the Federal Reserve said on Tuesday. Data for May was revised down to show production at factories falling 0.2% instead of edging…
By Safiyah Riddle (Reuters) – U.S. home builder sentiment hit a 13-month high in July as limited housing stock continued to drive demand for new houses, according to a survey on Tuesday, but the report also hinted at increasing challenges from tightening credit conditions in the months to come. The National Association of Home Builders/Wells…