By Nandita Bose, Pete Schroeder and Douglas Gillison WASHINGTON (Reuters) – The White House believes the U.S. Federal Deposit Insurance Corp needs a “fresh start” with a new chair who is not part of the leadership that presided over its long-running cultural problems, a White House official told Reuters on Tuesday. FDIC Chair Martin Gruenberg …
US FDIC needs ‘fresh start’ with new chair, White House official says Read More »
By Timothy Gardner WASHINGTON (Reuters) -President Joe Biden’s administration will sell nearly 1 million barrels of gasoline in the U.S.-managed stockpile in northeastern states as required by law, the Department of Energy said on Tuesday, effectively closing the near decade-old reserve. The department created the Northeast Gasoline Supply Reserve in 2014 after Superstorm Sandy left …
US to close Northeast gasoline reserve with 1 million-barrel sale Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks closed with slight gains on Tuesday, sending the S&P 500 and Nasdaq to record levels, as investors assessed the latest comments from Federal Reserve officials for clues on the timing of a rate cut while quarterly earnings from Nvidia drew closer. Nvidia, Wall Street’s third-largest firm by …
Stocks end slightly higher after Fed comments, ahead of Nvidia Read More »
LONDON (Reuters) – Ether was set for its largest two-day gain in nearly two years on Tuesday amid speculation about the outcome of applications for U.S. spot exchange-traded funds that track the world’s second-biggest cryptocurrency, while bitcoin also approached a record high. Ether, which underpins the ethereum blockchain network, was 8% higher on the day …
Cryptocurrencies gain as investors turn optimistic on ether ETFs Read More »
By David Shepardson WASHINGTON (Reuters) – The trade group for major U.S. airlines on Tuesday urged the government to act quickly to address a long-standing air traffic controller shortage ahead of the busy summer travel season but the U.S. Federal Aviation Administration chief accused the group of trying to deflect responsibility for flight delays. Nick …
US airlines seek air traffic control hiring, FAA hits back Read More »
By Curtis Williams HOUSTON (Reuters) -The lead contractor building a Texas liquefied natural gas (LNG) plant for QatarEnergy and Exxon Mobil on Tuesday filed for Chapter 11 bankruptcy protection, citing challenges at the project. Zachry Holdings, which held the lion’s share of the $10 billion construction project called Golden Pass LNG, said it was pursuing …
Firm building QatarEnergy-Exxon LNG plant in Texas files for bankruptcy Read More »
SHANGHAI (Reuters) – Eli Lilly said on Tuesday its diabetes drug tirzepatide has received approval from Chinese regulators, setting up intensifying competition with its Danish rival Novo Nordisk in the key Asian market. Novo Nordisk’s popular diabetes drug Ozempic won approval from China in 2021 and the company saw sales of the weekly injection in …
Eli Lilly’s diabetes drug tirzepatide gets approval in China Read More »
By Stephen Nellis (Reuters) – International Business Machines on Tuesday said that it will release a family of artificial intelligence models as open-source software, and that it will help Saudi Arabia train an AI system in Arabic. The Armonk, New York-based company has taken a different approach to making money from AI than some of …
IBM makes more AI models open source and lands Saudi Arabia deal Read More »
By Himanshi Akhand and Adwitiya Srivastava (Reuters) -Telstra will be slashing over a tenth of its workforce by 2024 end and stopping its traditional annual inflation-linked price adjustments for mobile plans, the Australian telecom firm said on Tuesday as it grapples with stiff competition. The country’s largest telecommunications firm will be slashing up to 2,800 …
Telstra to axe up to 2,800 jobs as competition stiffens amid high inflation Read More »
By Mimosa Spencer and Elisa Anzolin PARIS/MILAN (Reuters) – Luxury retailers in European cities outside France are jockeying for business from deep pocketed tourists this summer, betting on a surge in visitors avoiding crowds and street closures in Paris during the Olympic Games. “Paris will probably be slow,” with cities like London, Milan or Barcelona …
Cartier, LVMH look to stores outside Paris for Olympic retail boost Read More »
