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By Joseph White DETROIT (Reuters) -United Auto Workers President Shawn Fain told Reuters the Detroit Three automakers are “still not serious” in their responses so far to the union’s economic proposals, and said Sept. 14 is a firm deadline for all three companies to conclude new contracts. “Things have been moving slow,” Fain said in …

UAW leader says Detroit Three automakers ‘still not serious’ in contract talks Read More »

(Reuters) – Federal Reserve Chair Jerome Powell will deliver a talk on the economic outlook on Aug. 25 at the central bankers’ confab held each year in Jackson Hole, Wyoming by the Kansas City Fed, the U.S. central bank said on Thursday. The speech, set for 10:05 am ET, will provide a chance to give …

Fed Chair Powell to give economic outlook at Jackson Hole Aug 25 Read More »

By Bianca Flowers (Reuters) – U.S. Senator J.D. Vance on Thursday asked U.S. Steel to rule out a foreign buyer, in a sign that the emerging bidding war for the iconic steel producer could run into political headwinds. Vance, a Republican, said potential U.S. buyers for the Pittsburgh-based company should have priority because domestic steel …

US Senator Vance asks US Steel to rule out foreign buyer Read More »

By Saeed Azhar and Amruta Khandekar NEW YORK (Reuters) – Wall Street’s main indexes closed lower after choppy trading on Thursday as losses in healthcare stocks eclipsed gains in Cisco and energy stocks, while upbeat economic data kept alive fears of interest rates remaining higher for longer. Weighing heavily on the S&P 500, CVS Health …

Wall Street ends lower on healthcare losses, interest rate jitters Read More »

By Mariya Gordeyeva ALMATY (Reuters) – Kazakhstan-based Freedom Holding, the latest target of Hindenburg Research, plans to keep working with non-sanctioned Russian clients despite a critical report from the short-seller that Freedom describes as speculative and unsubstantiated. Hindenburg, which has tussled with tycoons such as Carl Icahn and Gautam Adani this year, said its research …

Hindenburg target Freedom Holding to keep working with non-sanctioned Russians Read More »

By Toby Sterling, Pablo Mayo Cerqueiro and Andres Gonzalez AMSTERDAM (Reuters) – Investment company Exor was able to build a 15% stake in Dutch healthcare group Philips without triggering the usual disclosures thanks to derivatives deals through Goldman Sachs, regulatory filings show. The two companies said earlier this week that Exor, the investment arm of …

Goldman Sachs used derivatives to help Exor build $2.8 billion Philips stake, filings show Read More »

By Lewis Jackson and Praveen Menon SYDNEY (Reuters) – Australia’s third-largest pension fund will officially open its first overseas outpost in London in November, a senior company official said, pushing for more private market investments as the sector outgrows the confines of home. Aware Super, with A$160 billion ($102 billion) in assets, will set up …

Australian $100 billion pension fund targets private assets with London launch Read More »

By Howard Schneider and Michael S. Derby WASHINGTON (Reuters) -Federal Reserve officials were divided over the need for more interest rate hikes at the U.S. central bank’s July 25-26 meeting, with “some participants” citing the risks to the economy of pushing rates too far even as “most” policymakers continued to prioritize the battle against inflation, …

Fed officials divided in July over need for more rate hikes, minutes show Read More »

(Reuters) -Walmart Inc on Wednesday promoted Sam’s Club Chief Executive Kathryn McLay as the new head of its $100 billion international business, succeeding Judith McKenna, who is retiring. McLay, 49, will take over the role effective Sept. 11, 2023 and report to Walmart CEO Doug McMillon. McLay, an Australian, who joined the retailer in 2015 …

Walmart promotes CEO of Sam’s Club to head International division Read More »