Reuters US Business

By Lisa Baertlein LOS ANGELES (Reuters) – United Parcel Service on Monday confirmed it is taking steps to reduce its workforce in regions where delivery demand has softened, a comment that comes days after a local union reported that the company had begun nationwide layoffs of some drivers. With the move, UPS joins rival FedEx …

UPS cutting back on some jobs as Teamster labor talks loom Read More »

By Brendan Pierson (Reuters) – A new judge has been assigned to oversee tens of thousands of lawsuits in New Jersey federal court against Johnson & Johnson over its talc products, two weeks after an appeals court rejected the company’s plan to offload the claims into bankruptcy. U.S. District Judge Michael Shipp, based in Trenton, …

Thousands of J&J talc lawsuits in New Jersey get new judge Read More »

By David Lawder WASHINGTON (Reuters) – The U.S. Treasury said on Monday it will open applications on May 31 for $4 billion worth of new tax credits for advanced energy manufacturing and decarbonization projects, with $1.6 billion of those required to be in communities hit by closures of coal mines or coal-fired power plants. Treasury …

U.S. Treasury to open advanced energy tax credit applications on May 31 Read More »

By Niket Nishant, Anirban Sen and Milana Vinn (Reuters) -Banking and payments processing conglomerate Fidelity National Information Services Inc took a $17.6 billion write-down on its merchant business as it unveiled plans on Monday to spin it off, undoing a $43 billion acquisition that went sour. FIS built its merchant business, which processes transactions for …

FIS takes $17.6 billion hit in merchant unit to be spun off Read More »

DETROIT (Reuters) – Ford Motor Co Chair Bill Ford said Monday the automaker’s Chief Executive, Jim Farley, has a “full court press” on to fix operational problems that caused fourth quarter results to fall short of the company’s targets. “We probably had so much focus on the future that perhaps we took our eye off …

Ford Chair: CEO Farley has “full court press” to fix problems Read More »

By Rajesh Kumar Singh CHICAGO (Reuters) -Southwest Airlines Co is working on a series of updates and upgrades to its technology to avoid a repeat of the operational disruption the airline suffered in late December, a top executive said on Monday. Chief Information Officer Lauren Woods told Reuters that the carrier is working on improvements …

Southwest working on updates, upgrades to technology -CIO Read More »

(Reuters) – Ford Motor Co has agreed to recognize the United Auto Workers (UAW) at a new planned Michigan battery plant if a majority of workers sign cards, the automaker and union said. Under the “card check” process, a majority of plant hourly workers could simply sign cards supporting the union, and once certified an …

Ford to recognize UAW ‘card check’ for new Michigan battery plant Read More »

By Mimosa Spencer and Manuel Ausloos PARIS (Reuters) – Airbnb is offering a night for two in the Palais Garnier opera house in Paris this summer, transforming a box in the theatre into a plush bedroom with sweeping views of the famous auditorium. The “Phantom of the Opera”-themed stay – a nod to the novel …

Airbnb offers ‘Phantom of the Opera’-themed stay at Palais Garnier in Paris Read More »

By Maiya Keidan TORONTO (Reuters) – A recent rise in Canada’s shareholder activism faces a reality check next month when a new law that gives more powers to investors to pick board nominees will be put to the test and could spur more campaigns this year, lawyers say. Canada is a perfect environment for activists …

Rise in Canadian shareholder activism faces test next month with new rules in place Read More »