(Reuters) – Lyft Inc said on Friday it has asked employees to return to office, the latest move by new CEO David Risher after the ride-hailing firm decided to cut 26% of its workforce. “Today, (the CEO) shared with Lyft team members the first steps in a plan for a flexible model with more regular …
Lyft asks employees to come to office more regularly Read More »
By Saqib Iqbal Ahmed and Laura Matthews NEW YORK (Reuters) – Bearish options traders are ramping up bets on further declines in the beaten-down shares of First Republic Bank, though strategists say they could run into trouble cashing in their wagers if the bank goes into receivership. First Republic’s shares fell as much as 42% …
First Republic options draw bears, though cashing in could be a problem Read More »
WASHINGTON (Reuters) – The Federal Reserve Board’s independent review of Silicon Valley Bank’s collapse reinforces the need for “the commonsense regulatory and supervisory reforms” that President Joe Biden has advocated, White House spokesperson Michael Kikukawa said on Friday. “The weakening of safeguards and supervision for large regional banks in the previous administration should be reversed …
White House: Fed report on SVB reinforces need for regulatory, supervisory reforms Read More »
By Steve Gorman, Joey Roulette and David Shepardson (Reuters) – While the spectacle of SpaceX’s new Starship rocket blowing up over the Gulf of Mexico riveted the public’s attention, it was the explosive nature of the launch at ground level that was drawing heightened scrutiny from the government this week. The shattering force of last …
Debris blast from SpaceX rocket launch renews environmental questions Read More »
By Victoria Waldersee BERLIN (Reuters) -Mercedes-Benz struck a slightly more optimistic tone alongside its first quarter results on Friday, saying demand in China and the United States was showing signs of picking up as markets recover from inflationary and supply chain shocks. Demand in Europe was still sluggish, but the German automaker expects that to …
Mercedes-Benz more upbeat on signs US, China picking up Read More »
By Stephanie Kelly NEW YORK (Reuters) – The U.S. ethanol industry is lobbying the Biden administration to ensure lower-carbon aviation fuel made from ethanol will qualify for subsidies under the Inflation Reduction Act, arguing such provisions are crucial to meeting U.S. climate goals. The campaign reflects the ethanol industry’s desire to expand into aviation following …
US ethanol industry expands focus to lower-carbon aviation sector Read More »
LIMA (Reuters) – Peru’s economy minister on Thursday said “conditions were being established” to develop lithium mining projects in the country, a week after Chile launched a plan to boost state control of the industry. “A window of opportunity has opened and we want to take advantage of it,” said Economy Minister Alex Contreras, saying …
Peru wants to seize lithium ‘window of opportunity,’ says minister Read More »
(Reuters) – Consumer lender Capital One Financial Corp’s first-quarter profit missed estimates on Thursday due to an increase in provisions that reduced gains from interest rate hikes. The Federal Reserve’s rate hikes to tame soaring inflation since the past year benefited lenders as they charged higher interest from borrowers. Capital One’s net interest income rose …
Capital One posts worse-than-feared quarterly profit on provisions Read More »
By Andrea Shalal WASHINGTON (Reuters) – The White House is continuing to monitor the situation at First Republic Bank, which has continued to lose deposits this week, spokesperson Karine Jean-Pierre said on Thursday, vowing that the Biden administration stood ready to take action if needed. Deposits at regional banks have stabilized and the Biden administration …
White House: Monitoring situation at First Republic, could step in if needed Read More »
By David Lawder WASHINGTON (Reuters) – Internal Revenue Service Commissioner Danny Werfel on Thursday said the agency will not hire any armed auditors with $80 billion in new funding, an attempt to dispel Republican assertions the IRS plans to build an “army” of 87,000 armed agents. Werfel, sworn in as the tax agency’s chief on …
IRS won’t hire armed auditors, will add criminal investigators, new chief says Read More »
