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By Noel Randewich (Reuters) – Shares of Western Alliance Bancorp surged 24% on Wednesday after the U.S. regional bank posted stronger-than-expected earnings and said its deposits had stabilized, helping allay fears that last month’s banking crisis could envelop more lenders. The Phoenix, Arizona-based bank’s quarterly results also lifted the shares of other regional lenders punished …

Western Alliance stock surges as results allay deposit fears Read More »

By Akash Sriram and Hyunjoo Jin (Reuters) -Tesla Inc missed market estimates for first-quarter margin on Wednesday, throttled by a series of aggressive price cuts meant to spur demand in a sagging economy and fend off rising competition. Elon Musk-led Tesla reported total gross margin of 19.3%, compared with expectations of 22.4%, according to 14 …

Tesla’s margins drop on aggressive discounting, shares fall Read More »

By Blake Brittain (Reuters) – Tesla Inc has settled a lawsuit against one of its former engineer, Alexander Yatskov, whom it accused of stealing trade secrets related to its AI-training supercomputer Dojo, according to a filing on Wednesday in San Francisco federal court. The joint filing said the terms of the settlement were confidential but …

Tesla settles with engineer accused of taking AI trade secrets Read More »

By Nichola Groom (Reuters) – A U.S. House of Representatives committee voted in favor of restoring tariffs on solar panels from four Southeast Asian nations on Wednesday and reversing President Joe Biden’s earlier suspension, setting the resolution up for a vote by the full House. Biden suspended tariffs last June as part of a key …

US House committee votes to repeal Biden solar panel policy Read More »

By Doyinsola Oladipo NEW YORK (Reuters) -Las Vegas Sands Corp on Wednesday reported quarterly revenue that surpassed Wall Street estimates due to recovery in mass gaming and tenant sales. The Las Vegas-based casino operator said traffic is rebounding in Singapore and Macao, and it expects further improvement in travel and tourism spending from China as …

Las Vegas Sands results beat Wall Street estimates Read More »

By Clark Mindock (Reuters) – Neighbors of Seattle-Tacoma International Airport on Wednesday sued the airport’s operator and two airlines over jet pollution they said is making them sick and damaging their properties. In a proposed class action lawsuit filed in Washington state court, residents who live within five miles of the airport claimed pollution including …

Seattle airport, Alaska Air and Delta sued over jet pollution Read More »

(Reuters) – Mercedes-Benz has agreed on a buyback option for its Russian assets, the sale of which has now been granted official approval, the German carmaker said on Wednesday, bringing its exit from Russia one step closer. Mercedes, which suspended exports to Russia and local manufacturing in early March 2022, last year agreed to sell …

Mercedes includes buyback option as Russian assets sale given official approval Read More »

FRANKFURT (Reuters) – The euro zone’s current account surplus widened in February as imports fell thanks lower energy costs and already large net exports of services remained broadly steady, data from the European Central Bank showed on Wednesday. The 20-nation bloc’s adjusted current account surplus increased to 24.32 billion euros in February from 18.63 billion …

Euro zone current account surplus widens in February Read More »

By Clara Denina and Yadarisa Shabong LONDON (Reuters) -Glencore has told Teck Resources shareholders it is willing to improve its $22.5 billion takeover offer, raising the pressure on the Canadian miner to ditch a restructuring plan and sit down at the negotiating table. In an open letter on Wednesday, Glencore said it would consider taking …

Glencore raises pressure on Teck Resources with promise of higher bid Read More »