By Jan Schwartz and Victoria Waldersee HAMBURG/FRANKFURT (Reuters) – Volkswagen CEO Herbert Diess will stay on with rejigged responsibilities, the carmaker said on Thursday, ending weeks of uncertainty about his future amid conflict with unions, as the company ratcheted up spending plans on electric cars. Ralf Brandstaetter, who took over from Diess as head of …
Diess stays CEO to steer Volkswagen into electric future Read More »
PARIS (Reuters) – The European Union will draft texts by spring 2022 on the implementation of a global minimum corporate tax deal brokered this year, French President Emmanuel Macron said on Thursday. France assumes the rotating presidency of the European Council on Jan. 1. (Editing by Richard Lough; Editing by Kirsten Donovan)
By Katanga Johnson WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission’s chairman said on Thursday the regulator is considering toughening rules around how underwriters, boards of directors and sponsors of Special Purpose Acquisition Companies (SPAC) structure fees, issue projections and disclose conflicts. SEC chief Gary Gensler, in a keynote address to investor advocates, said the …
U.S. SEC mulls tougher rules for SPAC gatekeepers, chairman says Read More »
By Steven Scheer JERUSALEM (Reuters) – Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks. The simulated “war game”, as Israel’s Finance Ministry called it and planned over the …
Exclusive-IMF, 10 countries simulate cyberattack on global financial system Read More »
GENEVA (Reuters) -Central banks do not have the space to keep monetary policy loose and interest rates low, the International Monetary Fund’s chief economist said on Thursday, also warning that the pandemic could turn out far more costly than estimated. Gita Gopinath, IMF chief economist, said that it had estimated that a more transmissible SARS-CoV-2 …
IMF chief economist sees inflationary pressures, risks from Omicron Read More »
(Reuters) – General Motors Co will begin building the new Chevrolet Silverado E electric pickup in early 2023, Executive Vice President Doug Parks said at an investor conference on Thursday. The electric Silverado will be followed by the GMC Sierra E and ‘multiple’ electric vehicles in 2023, Parks said. GM plans to unveil the Silverado …
GM will launch Chevy Silverado E, GMC Sierra E in 2023 – exec Read More »
WASHINGTON (Reuters) – U.S. wholesale inventories increased a bit more than initially thought in October, suggesting that the restocking of warehouses could again support economic growth this quarter. The Commerce Department said on Thursday that wholesale inventories accelerated 2.3%, instead of 2.2% as estimated last month. Stocks at wholesalers increased 1.4% in September. Economists polled …
U.S. October wholesale inventories revised slightly higher Read More »
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Bank of America is rolling out a new credit card and beefing up its existing rewards program in a bid to encourage up to 1 million wealth clients to use its banking services as well, executives said Thursday. Chief Executive Brian Moynihan has called the preferred rewards …
Bank of America targets new banking customers among its wealth clients Read More »
By Svea Herbst-Bayliss NEW YORK (Reuters) -A coalition of Exxon Mobil Corp <XOM.N> investors wants the oil company to replace its chief executive officer and move more aggressively to slash greenhouse gas emissions, saying its newly appointed board members and management team have not done enough to transition to clean energy or overhaul spending. Six …
Investor group faults new Exxon board members on climate transition plan Read More »
By Hilary Russ and Julia Love NEW YORK/SAN FRANCISCO (Reuters) – Starbucks Corp baristas waging a union campaign in Buffalo, New York, say they are organizing in part to have more of a say in the workload created by the company’s mobile app, which has left them struggling to keep up with surges in orders …
Starbucks union drive spurred by barista burnout from mobile orders Read More »
