Reuters US Business

By Gursimran Mehar, Bipasha Dey and Savyata Mishra (Reuters) -A strike at Starbucks will expand to over 300 U.S. stores on Tuesday, with more than 5,000 workers expected to walk off the job before the five-day work stoppage ends later on Christmas Eve, the workers’ union said. Starbucks, which operates more than 10,000 company-operated stores …

Starbucks strike to expand to over 300 US stores on Christmas Eve, union says Read More »

DUBAI (Reuters) – Iranian authorities have lifted a ban on Meta’s instant messaging platform WhatsApp and Google Play as a first step to scale back internet restrictions, Iranian state media reported on Tuesday. The Islamic Republic has some of the strictest controls on Internet access in the world, but its blocks on U.S.-based social media …

Iran lifts ban on WhatsApp and Google Play, state media says Read More »

By Fabio Teixeira RIO DE JANEIRO (Reuters) -Brazilian officials found 163 Chinese nationals working in “slavery-like conditions” at a construction site for a factory owned by Chinese electric vehicle producer BYD in Brazil’s Bahia state, the local labor prosecutor’s office said on Monday. According to the authorities, the workers were hired in China by another firm and brought …

Chinese workers found in ‘slavery-like conditions’ at BYD construction site in Brazil Read More »

By Pete Schroeder (Reuters) -Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank’s annual “stress tests” of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed’s practice of determining how big banks perform against hypothetical economic turmoil, and …

Big banks, business groups sue US Fed over annual stress tests Read More »

(Reuters) – Groups representing U.S. banks and businesses said on Tuesday they were suing the Federal Reserve to challenge what they described as the “opaque aspects of the stress testing framework.” In a statement, groups including the American Bankers Association and the U.S. Chamber of Commerce said the lawsuit “seeks to resolve longstanding legal violations …

US bank, business groups sue Fed over stress test framework Read More »

By Alexandra Alper and Katya Golubkova WASHINGTON (Reuters) -Nippon Steel’s $15 billion bid for U.S. Steel has been referred to U.S. President Joe Biden, a White House spokesman said, giving the president 15 days to decide on a tie up he has previously said he opposes. The Committee on Foreign Investment in the United States …

President Biden to decide fate of Nippon Steel’s $15 billion bid for US Steel Read More »

By David French (Reuters) -Wall Street’s main indexes all ended higher on Monday, with both the Dow Jones Industrial Average and the Nasdaq Composite making it three straight wins, aided by gains by many of the so-called Magnificent Seven tech stocks on a holiday-thinned trading day. With megacap stocks having outsized influence on markets, their …

Wall Street ends higher on gains by most megacaps Read More »

(Reuters) -The top U.S. watchdog agency for consumer finance on Monday accused Rocket Homes, a unit of Rocket Companies, and The Jason Mitchell Group of real estate brokerages of an illegal kickback scheme to steer mortgage applications back to Rocket. According to the Consumer Financial Protection Bureau, Rocket Homes, one of the largest mortgage lenders …

US accuses Rocket Homes of illegal kickbacks in mortgage scheme Read More »

By Nora Eckert and David Shepardson DETROIT (Reuters) -U.S. automakers Ford Motor and General Motors will donate $1 million each, along with vehicles, to U.S. President-elect Donald Trump’s January inauguration, company spokespersons said on Monday. Policies on tariffs and electric vehicles under consideration by the incoming administration would affect Detroit carmakers such as Ford, which …

Ford, GM donate $1 million and contribute vehicles to Trump’s inauguration Read More »

By Scott Murdoch, Anousha Sakoui and Chandini Monnappa SYDNEY (Reuters) -News Corp has agreed to sell its Australian cable-TV unit Foxtel to British-owned sports network DAZN for A$3.4 billion ($2.1 billion) including debt, cutting the Murdoch-controlled media empire’s exposure to a business upended by streaming platforms. News Corp will gain a board seat and hold …

Rupert Murdoch’s News Corp to sell Foxtel to Britain’s DAZN for $2.1 billion Read More »