Reuters US Business

By David Lawder and Andrea Shalal MARRAKECH, Morocco (Reuters) -U.S. Treasury Secretary Janet Yellen told Reuters on Friday that her plan for an “equi-proportional” increase in International Monetary Fund quota-based lending resources was “pretty likely to get done” despite concerns raised by China. Yellen was speaking in an interview on the sidelines of the IMF …

Yellen says US-backed IMF funding increase is ‘pretty likely’ Read More »

By David Shepardson (Reuters) – Ford Motor said on Friday it will temporarily cut one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple constraints, including supply chain issues. The No. 2 U.S. automaker said the cuts are unrelated to the United Auto Workers strike. Ford said …

Ford to temporarily cut one shift at Michigan EV plant Read More »

By Tom Hals WILMINGTON, Delaware (Reuters) -Tesla Inc urged a Delaware judge on Friday to reject $230 million in legal fees requested by a team of shareholder attorneys who won a settlement in a dispute over director pay, and the company recommended a fee of $64 million instead. The maker of electric vehicles called the …

Tesla fights $230 million fee sought by attorneys who sued over board pay Read More »

By Douglas Gillison and Chris Prentice (Reuters) -The U.S. Securities and Exchange Commission on Friday agreed to roll out new rules aimed at boosting transparency of short selling, the controversial practice of betting against stocks that drew new scrutiny amid the GameStop saga. First proposed in late 2021 and early 2022, the rules will require …

New US SEC rules to shine a light on short selling Read More »

(Reuters) – The Federal Reserve’s aggressive monetary policy tightening is prompting U.S. banks to slow the flow of credit and beef up cash levels after the panic in March when Silicon Valley Bank collapsed. The Fed last raised its policy rate in late July, to a range of 5.25%-5.50%, but the effects of the policy …

How U.S. bank balance sheets have changed as Fed raises rates Read More »

JERUSALEM (Reuters) -Israel’s parliamentary finance committee approved a plan to provide a state guarantee of $6 billion to cover insurance against war risks to Israeli airlines, the Finance Ministry said on Thursday. The guarantee framework will grant Israeli airlines insurance policies against war risks, thereby ensuring the continuity of air operations in Israel. Due to …

Israel to provide $6 billion war insurance cover for Israeli airlines Read More »

By Elvira Pollina MILAN (Reuters) – U.S. fund KKR is preparing to submit a multibillion euro bid for Telecom Italia’s (TIM) landline grid by a deadline on Sunday as part of a government-backed plan to reshape the former phone monopoly, people familiar with the matter said. A deal with KKR is the centrepiece of TIM …

KKR prepares binding bid for Telecom Italia’s grid as deadline looms Read More »

(Reuters) -Australia’s ANZ Group on Friday lost a landmark lawsuit that found it guilty of not disclosing to public that its underwriters had bought nearly one-third of a share issue worth A$2.5 billion ($1.58 billion) in 2015. The country’s Federal Court found the third-largest lender guilty of breaking disclosure laws by failing to notify the …

Aussie lender ANZ loses case over troubled 2015 share placement worth $1.6 billion Read More »

By Lewis Jackson SYDNEY (Reuters) – Negotiations over a stalled pay and conditions deal between Chevron and unions at its liquefied natural gas (LNG) facilities in Australia made progress on Friday, but fell short of sealing an agreement to end months of labour disputes at the major export sites. Chevron and the unions held a …

Chevron Australia, unions make progress in LNG talks but deal elusive Read More »