Reuters US Business

By Stefanie Eschenbacher and Ana Isabel Martinez MEXICO CITY (Reuters) – Under pressure to increase production, Mexico’s state oil company Pemex has risked fines for violations that cause environmental damage rather than delay output to fix the underlying issues, according to two senior company sources. The decision by Pemex to opt for fines instead of …

Exclusive-Mexico’s Pemex risks fines rather than fix violations -sources Read More »

By Ernest Scheyder (Reuters) – Republicans will seek to boost American production of lithium, copper and other electric-vehicle metals after the U.S. midterm elections gave them narrow control of the House of Representatives and the power to influence how regulators approve or deny mining projects. The party on Wednesday was projected to have won at …

U.S. Republicans aim to shorten EV mine permitting after House win Read More »

(Reuters) – Gap Inc on Thursday forecast fourth-quarter sales below Wall Street estimates, signaling a slowdown in demand for its casual clothing as inflation-weary consumers curb discretionary spending. As people return to work and social occasions, they have been preferring more formal clothing, pants and dresses, shelving casual wear and athleisure clothing that saw a …

Gap sees fourth-quarter sales below estimates as inflation-hit consumers shun casuals Read More »

By Hilary Russ NEW YORK (Reuters) -Workers at more than 100 U.S. company-owned Starbucks locations are striking for one day on Thursday to protest what they say is illegal retaliation against their union organizing. The walkout comes on the one day each year that Starbucks gives away reusable, red, holiday-themed cups to customers with coffee …

Starbucks U.S. workers at 100 stores hold one-day walkout Read More »

WASHINGTON (Reuters) -Seven Democratic senators sent a letter on Thursday to the Federal Trade Commission, warning that Twitter, now owned by Elon Musk, was acting in disregard of users and urging the agency to investigate any breach of a consent decree that the FTC inked with Twitter. The lawmakers, including Senators Richard Blumenthal and Elizabeth …

Democratic U.S. senators accuse Musk of undermining Twitter, urge FTC probe Read More »

By Mike Stone, David Shepardson and Aishwarya Nair WASHINGTON (Reuters) -Boeing Co said on Thursday that it will consolidate its struggling defense unit by cutting in half the number of divisions and the planemaker made a series of executive leadership changes. The plan to consolidate is aimed at making its defense business more manageable as …

Boeing reorganizes defense unit in push to simplify Read More »

(Reuters) -Cryptocurrency lender Genesis was seeking an emergency loan of $1 billion from investors before it suspended withdrawals on its website, the Wall Street Journal reported on Thursday, citing a confidential fundraising document. The document viewed by the Journal cites a “liquidity crunch due to certain illiquid assets on its balance sheet” at Genesis. On …

Crypto lender Genesis had sought emergency loan of $1 billion – WSJ Read More »

(Reuters) – Entrepreneur Mark Cuban-backed Dave Inc said on Thursday none of its customers were exposed to FTX and it has not launched any products in partnership with the beleaguered cryptocurrency exchange. FTX had invested $100 million in the fintech in March, through FTX ventures, to expand Dave’s digital assets offerings and the company had …

Mark Cuban-backed fintech Dave says no customers exposed to FTX Read More »

(Reuters) – Crypto exchange Binance’s U.S. unit is relaunching its bid to buy bankrupt crypto lender Voyager Digital, Coindesk reported on Thursday, citing a person familiar with the matter. The report comes after Voyager called off FTX’s bid to acquire the company following its collapse. Binance did not immediately respond to Reuters request for comment. …

Binance to relaunch bid to buy bankrupt Voyager Digital – Coindesk Read More »

(Reuters) – J.P.Morgan economists predict a “mild recession” in the United States in the back half of next year given expectations for the Federal Reserve to tighten monetary policy further in its battle against inflation. The investment bank sees the economy contracting by 0.5% by the fourth quarter of next year, and possibly dragging into …

J.P.Morgan predicts a mild U.S. recession next year Read More »