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By David Shepardson WASHINGTON (Reuters) -General Motors said Friday it wants the U.S. Treasury to reconsider classification of GM’s electric Cadillac Lyriq to allow it to qualify for federal tax credits. The Treasury and Internal Revenue Service did not classify the Lyriq as an SUV, meaning its retail price cannot be above $55,000 to qualify …

GM wants U.S. Treasury to reconsider tax credits for Cadillac Lyriq EV Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 index closed barely changed on Monday as expectations that the Federal Reserve will become less aggressive with its interest rate hikes were offset by lingering worries about inflation. The Dow edged lower, and the Nasdaq Composite ended off the day’s highs. Investors are awaiting comments …

S&P 500 near flat as investors weigh likelihood of less aggressive rate hikes Read More »

(Reuters) -Israeli drugmaker Teva Pharmaceutical Industries Ltd said there was sufficient participation from U.S. states and local authorities to move forward with its nationwide settlement agreement to resolve opioid-related claims and litigation. Teva said on Monday it has either already settled with or confirmed participation from 48 of the 50 states and will continue to …

Teva says opioids settlement to move forward in U.S Read More »

WASHINGTON (Reuters) – The acting head of the National Highway Traffic Safety Administration told reporters on Monday that the regulatory agency is “working really fast” on the ongoing Tesla Autopilot investigation it opened in August 2021. “We’re investing a lot of resources,” said NHTSA acting head Ann Carlson, though she declined to commit to a …

U.S. agency ‘working really fast’ on NHTSA Autopilot probe Read More »

By Chris Prentice NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) on Monday charged former McDonald’s Corp Chief Executive Stephen Easterbrook with making false and misleading statements to investors about the circumstances of his 2019 termination. The SEC hit Easterbrook with a five-year officer and director bar and a $400,000 civil penalty. McDonald’s …

U.S. SEC charges McDonald’s ex-CEO for misrepresentations to investors Read More »

(Reuters) – Novavax Inc said on Monday its longtime chief executive officer, Stanley Erck, would retire and be succeeded by industry veteran John Jacobs, at a time when the COVID-19 vaccine maker looks to catch up with larger rivals. Novavax shares were up about 5% in premarket trade. Jacobs takes over the role effective Jan. …

Novavax’s longtime CEO Stanley Erck to retire Read More »

By Rajesh Kumar Singh CHICAGO (Reuters) – New York State’s comptroller has written to Southwest Airlines Co, asking the carrier to explain how it plans to prevent an operational collapse like the one at the end of last year which stranded thousands of passengers. The comptroller’s office oversees the state’s pension system, which held 1.35 …

New York state comptroller asks Southwest Air about plans to avoid future meltdowns Read More »

FRANKFURT (Reuters) – Wage growth across the euro zone is expected to be “very strong” over the next few quarters but real wages are still likely to decline given rapid inflation, a European Central Bank Economic Bulletin article argued on Monday. A historic surge in inflation has eroded real incomes over the past two years …

ECB sees ‘very strong’ wage growth ahead in next few quarters Read More »

CAIRO (Reuters) -Shipping traffic in the Suez Canal was proceeding normally on Monday after tugs towed a cargo vessel that broke down during its passage through the waterway, the Canal Authority said. The breakdown was expected to cause only minor delays, with convoys of ships resuming regular transit by 11:00 local time (09:00 GMT), shipping …

Traffic in Suez Canal normal after ship breakdown dealt with- SCA Read More »