(Reuters) – Nikola Corp will start liquidating the assets of battery maker Romeo Power, the electric truck maker said on Monday, less than a year after buying it. The company, which went public in 2020, has struggled to keep up with high expectations of early investors, amid inflated costs of commodities and tight access to…
By Nick Carey (Reuters) – E-commerce giant Amazon will deploy its first European vans from U.S. electric vehicle (EV) maker Rivian in Germany over the coming weeks as part of long-term plans to electrify its transportation network, it said on Tuesday. Amazon said 300 electric vans will hit the roads in the Munich, Berlin, and…
(Reuters) – Reuters said on Monday it has appealed a Turkish court order to remove a news article on the agency’s website that said U.S. and Swedish prosecutors are studying a graft complaint naming a son of President Tayyip Erdogan. In the court ruling, a copy of which was seen by Reuters, the news agency…
TIRANA (Reuters) – Former U.S. President Bill Clinton, largely credited for ending the Kosovo war more than two decades ago, on Monday told Kosovo’s government to stop its actions in the Serb majority north, where tension has flared over the past few months. Kosovo’s northern region, home to 50,000 ethnic Serbs, has recently seen its…
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -Japan’s top lenders aim to carve out a larger presence in U.S investment banking as they look to make better use of their massive balance sheets by winning a bigger slice of deals, executives say. For years Japan’s megabanks have been notable players in U.S. corporate lending,…
By Saeed Azhar NEW YORK (Reuters) -Bank of America and Citigroup said on Monday they had begun a dialogue with the Federal Reserve to understand differing results between the central bank’s stress test and the companies’ own under the Dodd-Frank Act. BofA has yet to announce a potential dividend increase, in contrast with rivals. JPMorgan…
(Reuters) – U.S. Chapter 11 bankruptcy filings jumped 68% in the first half of 2023 from a year earlier, Epiq Bankruptcy, a provider of U.S. bankruptcy filing data, said on Monday. SVB Financial Group, Envision Healthcare Corp, Bed Bath & Beyond, Party City Holdco, Lordstown Motors and Kidde-Fenwal were among some casualties of decades-high interest…
By Jonathan Stempel (Reuters) – Wrigley, the maker of multi-colored fruit-flavored Skittles candies, has settled a lawsuit accusing a seller of cannabis-related merchandise of trademark infringement for marketing products under the “ZKITTLEZ” name. Under a proposed permanent injunction filed on Monday in Chicago federal court, Terphogz LLC agreed not to use Skittles, Zkittlez or similar…
(Reuters) – Mondelez International’s subsidiary has voluntarily recalled two varieties of belVita Breakfast Sandwich biscuits in the U.S. over possible undeclared peanut in the products. Mondelez Global LLC said on Monday that these products sold at retail stores nationwide may contain undeclared peanut resulting from cross-contact on its single manufacturing line. However, no other belVita…
By Huw Jones LONDON (Reuters) – The use of four dollar-denominated alternatives to the now scrapped Libor interest rate need restrictions to avoid threatening financial stability, a global securities watchdog said on Monday. IOSCO, a global securities watchdog group that includes the U.S. Securities and Exchange Commission as a member, said a review has identified…
