(Reuters) – Several oil companies including Exxon Mobil and Chevron on Monday defeated an appeal by consumers who accused them of colluding with former President Donald Trump’s administration, Russia and Saudi Arabia to cut oil production, boosting prices at the pump. The 9th U.S. Circuit Court of Appeals in San Francisco said the consumers’ claims…
NEW YORK (Reuters) – The Federal Reserve will likely not cut U.S. interest rates as deeply as the bond market expects due to a resilient economy and inflation remaining sticky, the BlackRock Investment Institute said in a note on Monday. The U.S. central bank is expected to cut interest rates for the first time in…
By David Shepardson WASHINGTON (Reuters) – The 1.3 million-member Teamsters union could decide who to endorse in the 2024 U.S. presidential election as early as Wednesday after members met Democratic candidate Kamala Harris on Monday, Teamsters President Sean O’Brien said. Union representatives met her Republican rival Donald Trump in January. “We can’t kick this can…
WASHINGTON (Reuters) – Boeing is pausing hiring and taking sweeping steps to conserve cash after about 33,000 workers went on strike on Friday including considering temporary furloughs for many employees, managers and executives in the coming weeks. Boeing Chief Financial Officer Brian West said the “strike jeopardizes our recovery in a significant way and we…
By David Lawder (Reuters) -The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to boost protections for strategic industries from China’s state-driven industrial practices. The U.S. Trade Representative’s office said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on…
WASHINGTON (Reuters) – Delta Air Lines on Friday asked the U.S. Transportation Department to allow it to delay resuming four daily flights to China, citing ongoing challenges in the market. The U.S. air carrier currently operates daily flights to Shanghai from Seattle and Detroit, but asked for approval to not reinstate two other daily flights…
By Jonathan Stempel (Reuters) – Walgreens Boots Alliance agreed to pay $106.8 million to settle charges it fraudulently billed the U.S. government for prescriptions that were never dispensed, the Department of Justice said on Friday. The Justice Department said Walgreens violated the federal False Claims Act between 2009 and 2020 by submitting payment claims to…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Nvidia’s huge stock rally is still exerting an outsized influence over the S&P 500 index , reinforcing concerns that broader markets could be hurt if the chipmaking giant’s fortunes turn. This year’s 140% surge in shares of Nvidia, whose chips are seen as the gold standard in…
(Reuters) -Delta Air Lines said on Thursday it was seeing an improvement in third-quarter unit revenue trends, citing strength in travel demand and moderating capacity across the industry. The airline also said it was expecting its third-quarter profit per share to be in the top end of its previous forecast range of $1.70 to $2.00,…
By Joe Brock and Allison Lampert SEATTLE (Reuters) – Boeing’s U.S. West Coast factory workers will vote on a much-criticized new contract and a possible strike on Thursday, piling pressure on the planemaker as it wrestles with chronic production delays and mounting debt. A potential strike starting on Friday would be a big early blow…
