Reuters US Business

By David Shepardson (Reuters) -Workers will receive a 19% pay hike over five years under an agreement with Volvo Group-owned Mack Trucks and the United Auto Workers, according to a summary of the tentative agreement seen by Reuters. Workers must still ratify the agreement covering 4,000 hourly workers that includes a $3,500 ratification bonus, improved …

Mack Trucks workers get 19% raise over 5 years in UAW contract Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. National Highway Traffic Safety Administration (NHTSA) officials on Thursday told a public hearing the government should require the recall of 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive because they may rupture and send metal fragments flying. The rarely used NHTSA public hearing …

US regulators push for recall of 52 million air bag inflators Read More »

NEW YORK (Reuters) – The Federal Reserve said on Thursday that credit it has extended to help wind down failed banks marked a big drop in the latest week. The Fed reported what it calls “other credit” fell to $63.07 billion on Wednesday, from $81.9 billion on Sept. 27. The credit is being used by …

Fed says credit to wind down failed banks drops again in latest week Read More »

(Reuters) – Levi Strauss & Co cut its annual forecasts for the second time on Thursday after missing third-quarter sales estimates as the denim maker reeled from hefty promotions and falling sales at its wholesale channels in North America. Gloomy consumer spending has hit retailers like Macy’s and Nordstrom as high prices and borrowing rates …

Levi Strauss cuts annual forecasts as promotions, wholesale weakness weigh Read More »

By Granth Vanaik (Reuters) -Conagra Brands on Thursday reported quarterly profit above Wall Street estimates, as prices hikes and easing cost pressures helped offset slowing demand for the Slim Jim beef jerky maker’s products, sending its shares higher. Shares of the packaged food maker recouped pre-market losses to rise as much as 2% after company …

Conagra beats profit estimate as higher prices offset soft demand Read More »

By Luc Cohen and Jody Godoy NEW YORK (Reuters) -Sam Bankman-Fried’s college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder’s fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX. The special privileges granted to the hedge fund, Alameda Research, included …

Sam Bankman-Fried demanded special privileges for his fund, ex-colleague testifies Read More »

By Lewis Jackson SYDNEY (Reuters) -Efforts to finalise an agreement that ended strikes at Chevron’s two Australian liquefied natural gas (LNG) plants hit a snag on Thursday, with unions accusing the U.S. energy major of reneging on commitments and potentially gearing up to resume stoppages. Workers called off strikes less than two weeks ago after …

Chevron, Australian unions hit snag in deal, workers to meet for possible strike vote Read More »

By Ahmed Aboulenein and Steve Gorman WASHINGTON (Reuters) -Kaiser Permanente and union negotiators for 75,000 striking medical workers suspended a marathon round of contract talks without a settlement on Wednesday, the two sides said, hours after the largest such walkout ever in the U.S. healthcare sector commenced. Kaiser said in a statement released late in …

Kaiser Permanente and unions for 75,000 striking health workers hit bargaining snag Read More »

(Reuters) – The Russian rouble hovered around 99.5 to the dollar on Thursday, struggling to pull away from the 100 threshold it breached earlier this week, hurt by reduced foreign currency supply from exporters early in the month. At 0818 GMT, the rouble was unchanged against the dollar at 99.60 and steady at 104.72 versus …

Russian rouble hovers close to 100 vs dollar Read More »