OMAHA, Neb. (AP) — The special board appointed by President Joe Biden to intervene in stalled railroad contract talks suggested Tuesday that 115,000 rail workers should get 24% raises and thousands of dollars in bonuses as part of a new agreement to avert a strike. Railroads and unions will use those recommendations as the basis…
WASHINGTON (Reuters) -U.S. federal prosecutors have filed criminal charges against George Santos, the embattled Republican U.S. congressman who has admitted to lying about his resume but defied calls to step down, CNN reported on Tuesday, citing three sources. Santos is expected to appear as soon as Wednesday in federal court in New York’s Eastern District,…
(Reuters) – The Hong Kong Stock Exchange said on Friday it would launch the new dual counter trading model on June 19, wherein investors would be able to begin interchanging securities listed in both Hong Kong dollar and renminbi counters. The bourse operator had late last year disclosed plans to amend the existing model of…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits last week hit its highest level in nearly 8 months, but the total number of those collecting benefits fell. Applications for jobless aid for the week ending July 9 rose by 9,000 to 244,000, up from the previous week’s 235,000, the Labor Department reported…
By Andrea Shalal MADRID (Reuters) – World Bank chief economist Carmen Reinhart said it could take many more years before the growing number of heavily indebted countries see any substantive reduction in their debts. Reinhart, who returns to Harvard University on July 1 after a two-year public service leave, said the economic woes facing Sri…
By Karen Freifeld (Reuters) -A U.S. judge on Tuesday ruled that China’s ZTE Corp, a top telecommunications equipment maker, should be allowed to end its five-year probation from a 2017 guilty plea. The ruling came on the final day of the company’s probation for illegally shipping U.S. technology to Iran and North Korea. Trading in…
By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Monday it is reviewing its oversight of Silicon Valley Bank in the wake of its abrupt failure Friday. In a statement, Fed Chairman Jerome Powell said the bank’s failure, which set off a wave of concern over the banking system, demanded a “thorough, transparent,…
By Shankar Ramakrishnan and Krystal Hu (Reuters) – Elon Musk’s banks, faced with huge losses on their commitment to finance the $44 billion buyout of Twitter Inc, may not be able to back out of the deal easily but they might have a way to minimize the hit they take. Morgan Stanley, Bank of America…
By Foo Yun Chee BRUSSELS (Reuters) – Amazon, Alphabet’s Google, Microsoft and other non-European Union cloud service providers looking to secure an EU cybersecurity label to handle sensitive data can only do so via a joint venture with an EU-based company, according to an EU draft document seen by Reuters. U.S. tech giants and others…
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Russia’s dominant lender Sberbank will issue bonds in Chinese yuan this year if an opportunity arises and will continue borrowing in roubles to drive portfolio growth, the bank’s finance chief told Reuters. In his first interview since becoming Sberbank’s head of finance last year, Taras Skvortsov…
