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BENGALURU (Reuters) -The World Bank will “provide as much concessionality to the debt treatment” for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday. The remarks come amid calls by China, the world’s largest bilateral creditor, that global lenders should take haircuts …

World Bank promises ‘concessionality’ in debt restructuring Read More »

(Reuters) – BlackRock Inc said it was cooperating with a U.S. Securities and Exchange Commission investigation into record keeping of electronic communications of its investment advisers, according to a filing on Friday. The asset manager is the latest in a list of financial firms under the regulator’s scrutiny. Earlier this week, Wells Fargo said U.S. …

BlackRock cooperating with SEC probe of investment advisers’ communications Read More »

By Ross Kerber BOSTON (Reuters) – Tesla Inc investor Ross Gerber said on Friday he will end his run for the electric carmaker’s board of directors, citing changes investors can expect to see next week. Gerber said in a telephone interview that he decided to withdraw after Martin Viecha, Tesla’s investor relations chief, told him …

Gerber ends Tesla board run, says carmarker creating ‘own voice’ Read More »

By Saeed Azhar (Reuters) -putting down for reporter to check background on Archegos-dg Morgan Stanley said it was cooperating with U.S. regulators over investigations into its block-trading practices and providing authorities with information, according to a filing on Friday. The Wall Street firm added it could face civil claims from market participants who said they …

Morgan Stanley is cooperating with U.S. regulators on block-trading probe Read More »

(Reuters) – Raytheon Technologies Corp said on Friday the U.S. government has cleared its Pratt and Whitney unit to resume deliveries of its F-135 engine for the F-35 fighter jet, after a halt was put in place in December following the discovery of a safety concern. The F-35 Joint Program Office said in a statement …

U.S. govt clears F-35 engine deliveries after safety concerns addressed Read More »

(Reuters) – Moderna Inc will make certain contingent development, commercial and regulatory milestone payments to the U.S. National Institutes of Health (NIH) related to the development of COVID-19 vaccines, the company said in a filing on Friday. Moderna and the U.S. government agency had entered into a license agreement in December related to certain patents …

Moderna to make milestone payments to NIH for COVID vaccine Read More »

WASHINGTON (Reuters) – The U.S. Federal Trade Commission, which lost a fight in court over whether Facebook parent Meta Platforms Inc could buy VR content maker Within Unlimited, has decided to formally end its effort to stop the acquisition, the agency said in a filing on Friday. The FTC sued Meta in July to stop …

U.S. formally ends fight against Meta’s purchase of VR content maker Read More »

By Joseph White and Ben Klayman DETROIT (Reuters) -New vehicle sales in the United States are expected to increase in February, but the decision by General Motors Co to cut production of large pickup trucks at a U.S. plant points to new challenges for Detroit’s automakers. The major Detroit pickup truck brands are sitting on …

GM’s truck production cut signals a turn in U.S. auto sales Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending increased by the most in nearly two years in January amid a surge in wage gains, while inflation accelerated, adding to financial market fears that the Federal Reserve could continue raising interest rates into summer. The report from the Commerce Department on Friday was the latest …

U.S. consumer spending posts biggest gain in nearly two years; inflation picks up Read More »