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U.S. SEC probes Elon Musk’s role in Tesla self-driving claims – Bloomberg News

28 Jan 2023

(Reuters) -The U.S. securities regulator is investigating Elon Musk’s role in shaping EV maker Tesla’s self-driving claims, Bloomberg News reported on Friday, citing a person with knowledge of the matter. The review is part of an ongoing Securities and Exchange Commission (SEC) probe of the company’s statements about its Autopilot driver-assistance system, the report added. …

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Amazon beats claim that warehouse quotas are biased against older workers

28 Jan 2023

By Daniel Wiessner (Reuters) -Amazon.com Inc on Friday won its bid to dismiss a proposed class action claiming its strict production quotas for warehouse workers discriminate against older employees. U.S. Magistrate Judge Kandis Westmore in Oakland said the 2021 lawsuit, which alleges the online retailer’s hourly quotas place older workers at a higher risk of …

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Tesla’s Musk meets top Biden officials on EVs in Washington

28 Jan 2023

By Nandita Bose, David Shepardson and Raphael Satter WASHINGTON (Reuters) -Tesla Chief Executive Elon Musk met two top White House officials on Friday in Washington to discuss how the car maker and Democratic President Joe Biden could work together to advance electric vehicle production and speed electrification of U.S. vehicle networks. Musk met John Podesta, …

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Wall Street ends higher, notches weekly gains as Fed meeting looms

28 Jan 2023

By Stephen Culp NEW YORK (Reuters) – Wall Street advanced on Friday, marking the end of an rocky week in which economic data and corporate earnings guidance hinted at softening demand but also economic resiliency ahead of next week’s Federal Reserve monetary policy meeting. All three major U.S. stock indexes ended the session green, with …

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Bed Bath & Beyond’s efforts to find buyer stalled – Bloomberg News

27 Jan 2023

(Reuters) -Bed Bath & Beyond Inc’s efforts to find a buyer ahead of a likely bankruptcy filing have stalled, Bloomberg News reported on Friday, citing people with knowledge of the matter. The troubled home goods retailer is preparing to file for Chapter 11 bankruptcy protection imminently, likely without a bidder in place for its assets …

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U.S. Senator Warren urges FTC to stop L3Harris deal to buy Aerojet

27 Jan 2023

By Diane Bartz WASHINGTON (Reuters) -U.S. Senator Elizabeth Warren, who has expressed concern about a broad range of corporate consolidation, wrote to the U.S. Federal Trade Commission to urge it to oppose U.S. defense contractor L3Harris Technologies’ deal to buy Aerojet Rocketdyne Holdings Inc, her office said. L3Harris had announced the planned acquisition in mid-December, …

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Walmart, CVS Health adjust pharmacy hours amid labor crunch

27 Jan 2023

(Reuters) – Walmart Inc said on Friday it would adjust working hours for its U.S. pharmacy team and implement it nationwide in 4,600 locations, with drugstore operator CVS Health Corp doing the same for about two-thirds of its retail pharmacies, amid a tight labor market. The United States has been experiencing a nationwide labor shortage …

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EV maker Lucid surges on report Saudi PIF to buy remaining stake

27 Jan 2023

(Reuters) -Lucid Group’s shares pared gains after doubling on Friday on market speculation that Saudi Arabia’s Public Investment Fund is working on plans to buy out the rest of the electric vehicle maker. The speculation came as a result of an “uncooked” alert from deals website Betaville. The website uses the term “uncooked” to refer …

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European shares end higher as focus shifts to cenbank meetings

27 Jan 2023

By Ankika Biswas and Amruta Khandekar (Reuters) – European shares ended higher on Friday as investors assessed mixed earnings from the region, while easing inflation in the United States bolstered sentiment ahead of a week of major central bank decisions. The pan-European STOXX 600 climbed for the second straight day, adding 0.2%, and posted weekly …

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Electric vehicles throw Palladium’s mega-rally into reverse

27 Jan 2023

By Peter Hobson LONDON (Reuters) – An era of breathtaking palladium rallies is likely to be ending, analysts said, as rising supply and stagnant demand erode prices of the metal used to neutralise vehicle exhaust emissions. Palladium, once the cheapest major precious metal, rocketed from less than $500 an ounce in 2016 to above $3,400 …

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