By Steve Scherer OTTAWA (Reuters) -Canada on Friday unveiled a new strategy to ramp up production and processing of critical minerals vital to power electric vehicle (EV) batteries as the world seeks to shift away from fossil fuels toward cleaner technologies. The government pledged to review the permitting process with an eye on cutting the …
Canada aims to speed up new projects with critical minerals strategy Read More »
By Diane Bartz WASHINGTON (Reuters) – The Biden administration may struggle to convince a judge to stop Microsoft Corp’s $69 billion bid for “Call of Duty” maker Activision, because of the voluntary concessions offered by the tech giant to allay fears it could dominate the gaming market, antitrust experts said. The Federal Trade Commission (FTC), …
Biden faces uphill battle in spat with Microsoft over Activision deal Read More »
MELBOURNE (Reuters) – Shareholders in Canada’s Turquoise Hill will on Friday vote on a Rio Tinto $3.3 billion takeover offer that aims to give the Anglo-Australian miner more control over a giant Mongolian copper mine. The deal is far from a slam dunk. Rio, which owns 51% of Turquoise Hill, has been keen to buy …
Turquoise Hill’s Friday vote on Rio Tinto takeover bid is hard to call Read More »
(Reuters) -The world’s largest investment banks expect global economic growth to slow further in 2023 following a year roiled by the Ukraine conflict and soaring inflation, which triggered one of the fastest monetary policy tightening cycles in recent times. The U.S. Federal Reserve has increased interest rates by 375 basis points this year since rolling …
Factbox-Big banks see global economy slowing more in 2023, with likely U.S. recession Read More »
(Reuters) -The world’s largest investment banks expect global economic growth to slow further in 2023 following a year roiled by the Ukraine conflict and soaring inflation, which triggered one of the fastest monetary policy tightening cycles in recent times. The U.S. Federal Reserve has increased interest rates by 375 basis points this year since rolling …
Factbox-Big banks see global economy slowing more in 2023, with likely U.S. recession Read More »
(Reuters) – Costco Wholesale Corp reported quarterly revenue on Thursday that missed analysts’ estimates, with consumers cutting back spending on discretionary items such as jewelry and electronics against the backdrop of decades-high inflation. The membership-only retail chain’s total revenue for the first quarter was $54.44 billion, compared with estimates of $54.64 billion, according to Refinitiv …
By Daniel Wiessner (Reuters) – A U.S. appeals court on Thursday declined to revive claims that Amazon.com Inc fired New York warehouse worker Christian Smalls, a pivotal figure in a campaign to unionize the company’s workforce, because he is Black. A three-judge panel of the Manhattan-based 2nd U.S. Circuit Court of Appeals in a brief …
Fired Amazon organizer loses bid to revive race bias lawsuit Read More »
(Reuters) – Broadcom Inc forecast current-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for chips used in data centers and networking equipment. Companies are increasingly investing in the infrastructure needed to support a switch to hybrid work models, giving Broadcom – which makes chips for data centers, routers and Wi-Fi modems – …
Broadcom forecasts current-quarter revenue above estimates on cloud strength Read More »
(Reuters) -Lululemon Athletica Inc said on Thursday inventories surged in the third quarter as consumers pulled back on spending. The athleisure apparel maker’s shares were down 10% in extended trading. The company, however, raised its full-year revenue and profit forecasts, signaling strong demand from affluent U.S. consumers for its high-priced yoga pants, running shorts and …
Lululemon says inventories surged in third quarter Read More »
By Michael S. Derby NEW YORK (Reuters) – The New York Federal Reserve has tapped an insurance industry executive as second in command to President John Williams, a role in which there has been recent turnover at the most important of the Fed system’s 12 regional banks. Sushmita Shukla, currently a senior vice president and …
New York Fed taps insurance exec for new second in command Read More »
