MEXICO CITY (Reuters) – Automakers Stellantis and a Mexican unit of Daimler Truck have reached deals with one of Mexico’s biggest unions to raise wages this year around 9%, labor authorities said on Tuesday. The increases, as well as similar raises at three auto parts suppliers, apply to more than 24,000 workers in northern and …
Stellantis, Daimler Truck agree with Mexico union on pay raise of about 9% Read More »
By Hannah Lang and Pete Schroeder (Reuters) – In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S. …
Explainer-How does bank deposit insurance work, and who does it cover? Read More »
By Stephen Nellis (Reuters) -Raja Koduri, the chief architect at Intel Corp, is leaving to start a company that aims to loosen longtime rival Nvidia Corp’s grip on the digital movie and video game markets. Koduri, whose departure was announced by Intel Chief Executive Pat Gelsinger in a tweet on Tuesday, told Reuters his as-yet-unnamed …
Departing Intel exec to focus on loosening Nvidia’s grip on AI for movies, games Read More »
By Rajesh Kumar Singh, Doyinsola Oladipo and Joanna Plucinska (Reuters) – New Yorker Elizabeth Palumbi’s list of European cities to visit this spring keeps getting longer, and she is not alone. Online searches by Americans for flights to Europe trips are surging despite soaring air fares, a worsening economic outlook and risks of gridlock at …
Demand for transatlantic flights soars as Americans can’t get enough of Europe Read More »
(Reuters) – First Republic Bank, the beleaguered U.S. regional lender, is looking at ways to downsize if its attempts to raise new capital fail, sources said, while U.S. bank CEOs met in Washington after the collapse of three lenders stunned markets. First Republic is examining how it can sell parts of its business, including some …
(Reuters) – UBS is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse’s investment bank, the Financial Times reported on Tuesday. UBS on Sunday agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 …
(This story was updated on March 21, 2023 with comment from Character.ai.) By Anna Tong SAN FRANCISCO (Reuters) – After temporarily closing his leathermaking business during the pandemic, Travis Butterworth found himself lonely and bored at home. The 47-year-old turned to Replika, an app that uses artificial-intelligence technology similar to OpenAI’s ChatGPT. He designed a …
What happens when your AI chatbot stops loving you back? Read More »
By Huw Jones LONDON (Reuters) – Reforms to tackle vulnerabilities in money market funds are urgently needed for the sector to cope better with economic shocks, a top European Union securities regulator said on Tuesday. Money market funds or MMFs are widely used by companies for day-to-day financing purposes. But MMFs in Europe and the …
EU watchdog calls for urgent reform of money market funds Read More »
By Shashwat Chauhan and Shristi Achar A (Reuters) -London stocks gained over 1% on Tuesday, with lenders rebounding on easing fears of a bigger banking crisis, while investors awaited the U.S. Federal Reserve’s interest rate decision. The FTSE 100 jumped 1.8%, its best day in over four months, while the mid-cap FTSE 250 added 1.5%. …
Easing bank crisis fears help UK stocks rise, Fed meeting in focus Read More »
By Forrest Crellin PARIS (Reuters) -French refineries and depots have had deliveries blocked for two weeks, creating a backlog in storage and forcing companies to reduce production. Liquefied natural gas (LNG) terminals have also been blocked, halting imports at three sites. The energy sector has been caught up in nationwide protests over government plans to …
Factbox-French strikes hamper refining, LNG imports Read More »
