By Jonathan Stempel NEW YORK (Reuters) -Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices. The antitrust settlement announced on Tuesday is one of the largest in U.S. history, and if it receives…
By David Shepardson and Allison Lampert (Reuters) – Boeing CEO Dave Calhoun will step down by year-end in a broad management shakeup brought on by the planemaker’s sprawling safety crisis exacerbated by a January mid-air panel blowout on a 737 MAX plane. In addition, board chair Larry Kellner and Stan Deal, head of the company’s…
(Reuters) – Boeing’s David Calhoun will step down as CEO at the end of 2024, capping four turbulent years at the helm as the iconic planemaker seeks to address a spiraling safety crisis following a mid-air panel blowout on a 737 MAX plane in January. Calhoun, previously Boeing’s chairman, was tasked with steering the aerospace…
By Mike Scarcella (Reuters) – Apple has been hit with a flurry of new consumer lawsuits accusing the iPhone maker of monopolizing the smartphone market, piggybacking on a sweeping antitrust case lodged by the U.S. Justice Department and 15 states last week. At least three proposed class actions have been filed since Friday in California…
(Reuters) -Boeing CEO Dave Calhoun will step down by the end of the year, following the planemaker’s ongoing safety crisis with its 737 MAX jets that was exacerbated by a January mid-air panel blowout. U.S. regulators briefly grounded certain planes for safety checks following the blowout, a move less severe than the grounding of all…
(Reuters) – Oppenheimer Asset Management on Monday became the most bullish among global brokerages in its year-end target forecast for the benchmark S&P 500, citing resilient economic data and effective monetary policy. It lifted its target for the index to 5,500 from 5,200 and also raised its annual S&P 500 earnings-per-share forecast to $250 from…
By Foo Yun Chee and Supantha Mukherjee BRUSSELS/STOCKHOLM (Reuters) -Big Tech is facing its biggest challenge in decades as antitrust regulators on both sides of the Atlantic crack down on alleged anti-competitive practices that could result in break-up orders to Apple and Alphabet’s Google, a first for the industry. That in turn could inspire watchdogs…
(Reuters) -China has introduced guidelines to phase out U.S. microprocessors from Intel and AMD from government personal computers and servers, the Financial Times reported on Sunday. The procurement guidance also seeks to sideline Microsoft’s Windows operating system and foreign-made database software in favour of domestic options, the report said. Government agencies above the township level…
BEIJING (Reuters) -China will carefully study issues of market access and cross-border data flows and will soon issue new regulations in these areas, Premier Li Qiang told an audience of global CEOs and Chinese policymakers on Sunday. “We cordially welcome companies from all countries to invest in China and deepen their foothold in China,” Li…
By Richard Cowan, David Morgan and Makini Brice WASHINGTON (Reuters) – President Joe Biden on Saturday signed into law a $1.2 trillion spending package, keeping the U.S. government funded through a fiscal year that began six months ago. Biden described the package, which Congress overwhelmingly passed in the early hours of Saturday, as investing in…
