Reuters US Business

By Kanishka Singh and David Shepardson WASHINGTON (Reuters) -Starbucks Corp interim Chief Executive Officer Howard Schultz has agreed to testify this month before a U.S. Senate committee after earlier resisting requests to appear and answer questions about the company’s compliance with labor law. Schultz will testify on March 29 before the Senate Health, Education, Labor …

Under pressure, Starbucks CEO agrees to testify before US Senate panel Read More »

ZURICH (Reuters) – Lindt & Spruengli said its 2022 profit rose and the Swiss chocolate maker also proposed a higher dividend payout on Tuesday, despite a challenging year that saw inflationary price hikes dampen consumer sentiment in key markets. Net income rose to 569.7 million Swiss francs ($612.78 million), beating the 566 million francs forecast …

Lindt & Spruengli proposes dividend hike as 2022 sales, profit climb Read More »

By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Toymaker Lego said store openings in China and strong demand in Western Europe and the Americas had delivered 17% sales growth in 2022, adding that it expects to outpace the market this year. The family-owned company known for its colourful plastic bricks said sales rose to 64.6 billion Danish …

Lego looks to build on 2022 sales growth with more China stores Read More »

By Nichola Groom (Reuters) – President Joe Biden has pledged that fighting climate change will deliver millions of middle-class jobs with good wages to Americans with union membership cards. But in the six months since passage of Biden’s signature climate change law, a large majority of the $50 billion of announced investments in domestic manufacturing …

Biden’s clean energy factory jobs may elude U.S. union workers Read More »

By Sabrina Valle HOUSTON (Reuters) – Oil producers Chevron Corp and Talos Energy Inc on Monday said they have tripled the size of a proposed carbon capture and storage hub for the Gulf Coast. Their joint venture, which includes Carbonvert Inc, plans to collect and bury greenhouse gases from clients in the petrochemical, cement, steel …

CERAWEEK-Chevron, Talos Energy triple size of proposed Texas carbon hub Read More »

By Manya Saini (Reuters) – Shares of Silvergate Capital Corp fell as much as 11% on Monday after the bank suspended its crypto payments network and expressed doubts over the viability of its business. The stock closed the volatile session 6.4% lower at $5.40, after wild swings between gains and losses through the day. Several …

Silvergate’s deepening crisis jolts crypto stocks Read More »

By Sinéad Carew and Bansari Mayur Kamdar (Reuters) – The S&P 500 made little progress on Monday, closing slightly lower than its session high as U.S. Treasury yields pulled higher with investors braced for this week’s testimony from Federal Reserve Chair Jerome Powell and the February jobs report. Earlier in the session the indexes looked …

S&P 500 ends slightly higher ahead of Powell testimony, upcoming data Read More »

By Liz Hampton and Ron Bousso (Reuters) – U.S. energy executives are set to meet top OPEC officials on Monday, people familiar with the matter said, for at least a fifth year at a Houston conference as the once rivals are now joint beneficiaries from enormous demand for their oil and gas. The secretive dinner …

CERAWEEK-OPEC, US energy chiefs to huddle again in Houston as rapport deepens Read More »

(Reuters) – U.S. regulators sent another list of questions seeking information to Freeport LNG on Monday, as they evaluate its request to restart full commercial operations of its export facility in Texas. Last month, the privately held LNG export facility, the second-biggest in the U.S., started to exit an eight-month outage that was caused by …

U.S. regulators seek more answers from Freeport LNG to weigh restart request Read More »

By David Shepardson WASHINGTON (Reuters) – Three U.S. airlines agreed to commit in writing to eliminating family seating fees if adjacent seats are available during booking, the U.S. Department of Transportation (USDOT) said on Monday. Under pressure from the Biden administration, American Airlines, Alaska Airlines and Frontier Airlines will include the guarantee in customer service …

U.S. pressures airlines to commit to ending family seating fees Read More »