Reuters US Business

By Jonathan Stempel (Reuters) – Smartmatic has settled a lawsuit accusing right-wing television network One America News of defamation by falsely claiming that the voting technology company rigged the 2020 U.S. presidential election to help Joe Biden beat Donald Trump. Terms of the settlement are confidential, Smartmatic’s lawyer Erik Connolly said, but the company voluntarily …

Smartmatic, One America News settle election defamation lawsuit Read More »

By Nate Raymond (Reuters) – Meta Platforms CEO Mark Zuckerberg on Monday won the dismissal of some claims in a dozen lawsuits accusing him of concealing from the public that Facebook and Instagram were harmful to children. The ruling by U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, came in the sprawling litigation by …

Judge dismisses some claims against Meta’s Zuckerberg over social media harm Read More »

DUBAI (Reuters) -Microsoft is investing $1.5 billion in United Arab Emirates-based artificial intelligence firm G42, giving the U.S. giant a minority stake and a board seat, allowing the two to deepen ties amid the global battle for tech dominance. As part of the deal, which the two companies said was backed by assurances to the …

Microsoft to invest $1.5 billion in Emirati AI firm G42 for minority stake Read More »

TOKYO (Reuters) – Japan’s Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday. It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% …

Honda to launch next-generation EVs in China by 2027 Read More »

By Mike Stone (Reuters) -Lockheed Martin has been awarded a $17 billion contract to develop the next generation of interceptors that would guard the United States against an intercontinental ballistic missile attack, the U.S. Missile Defense Agency said on Monday. The interceptor program is aimed at defeating current ballistic missile threats and future technological advances …

Lockheed wins US missile defense contract worth $17 billion Read More »

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks closed sharply lower on Monday, as an early lift from a strong retail sales report succumbed to a jump in Treasury yields and concerns about rising geopolitical tensions between Iran and Israel. With the S&P 500 coming off its biggest one-day percentage drop since Jan. 31 in …

Stocks close lower as Middle East tensions, Treasury yields weigh Read More »

By Michael S. Derby NEW YORK (Reuters) -A key Federal Reserve facility that takes in cash from money market funds and others saw inflows drop sharply on Monday. The U.S. central bank’s reverse repo facility took in $327.1 billion, down $80.2 billion from Friday, marking the lowest level of inflows since the facility took in …

Fed’s reverse repo facility plummets to lowest level in nearly three years Read More »

By Pritam Biswas and Tatiana Bautzer (Reuters) -Citigroup’s David Bailin, chief investment officer (CIO) at the global wealth division, will leave on May 15 after 15 years at the bank, he said in a LinkedIn post on Monday. Bailin became the global head of investments in 2017 and took his current job in 2019. Before …

Citi wealth division’s CIO Bailin to depart after 15 years Read More »

By Ernest Scheyder (Reuters) -North Carolina regulators have approved a state mining permit for Tesla supplier Piedmont Lithium to develop one of the largest U.S. sources of the key electric vehicle battery metal, although key financing and local regulatory challenges remain. The approval from the North Carolina Department of Environmental Quality, which was announced by …

Tesla supplier Piedmont Lithium gets key North Carolina mining permit Read More »

By Carolina Mandl NEW YORK (Reuters) – Trend-following hedge funds could sell between $20 billion and $42 billion in U.S. equities over the next month if the stock market continues to retreat, a Goldman Sachs note shows. Also known as CTAs (commodity trading advisers), trend-following hedge funds trade systematically to catch big trends in markets. …

Trend hedge funds could sell up to $42 billion in US shares, says Goldman Read More »