Reuters US Business

By Shreyashi Sanyal (Reuters) -European shares fell on Thursday, led by technology shares, after the Federal Reserve hinted at smaller interest rate increases for longer, dampening hopes of a downshift in its aggressive fight against inflation. The pan-European STOXX 600 dropped 0.9% by 0905 GMT, with rate-sensitive European technology stocks falling nearly 2%. While most …

European shares slide as Fed hints at tightening for longer Read More »

MADRID (Reuters) – The chief of Volkswagen’s Spanish unit SEAT said on Thursday the offer made by Spanish authorities of subsidies to build a battery factory and manufacture electric vehicles “is not sufficient”, but added he is optimistic in finding a solution. SEAT Chairman Wayne Griffiths said the solution, which he did not specify, has …

VW’s SEAT says Spain’s subsidy for battery plant, EV production is ‘not sufficient’ Read More »

BERLIN (Reuters) – BMW is still in a position to achieve good prices for its cars, the company’s chief financial officer said on Thursday. In the first nine months of this year, increased costs for materials and logistics amounted to nearly 2 billion euros ($1.95 billion). A higher proportion of electric-powered cars also contributed to …

BMW CFO: still in a position to achieve good prices for our cars Read More »

MADRID (Reuters) – The chief of Volkswagen’s Spanish unit SEAT said on Thursday he is “optimistic” in finding “solutions” with national and regional authorities regarding the subsidy offer it received to build a battery factory and manufacture electric vehicles. SEAT’s chief Wayne Griffiths did not specify what type of solutions he was referring to, but …

VW’s SEAT says is optimistic in finding solutions on Spain’s subsidy offer Read More »

(Reuters) -Robinhood Inc posted a smaller-than-expected quarterly loss as the brokerage’s margin trading business benefited from rising interest rates, while increased volatility in the markets helped its equities and options segments. Shares of the Menlo Park, California-based company were up 5% in extended trading on Wednesday. Net interest revenue from its margin investing business doubled …

Robinhood posts smaller-than-expected loss; shares rise Read More »

OTTAWA (Reuters) – Canada’s government ordered three foreign firms on Wednesday to divest their investments in Canadian critical minerals companies on grounds of national security. The three foreign firms ordered to divest their investments are Sinomine (Hong Kong) Rare Metals Resources Co Ltd, Chengze Lithium International Ltd, and Zangge Mining Investment (Chengdu) Co Ltd. “These …

Canada orders three foreign firms to divest investments in critical minerals Read More »

By Siddharth Cavale NEW YORK (Reuters) -The attorneys general of Washington D.C., California and Illinois filed a lawsuit on Wednesday in a federal court seeking to block grocer Albertsons’ $4 billion dividend payout to shareholders before the closing of its proposed merger with rival Kroger Co. “(The lawsuit) is seeking a temporary restraining order to …

Three attorneys general file lawsuit seeking to block Albertsons’ $4 billion payout Read More »

(Reuters) -Ebay Inc on Wednesday beat Wall Street targets for quarterly revenue and profit, bolstered by resilient demand for luxury collectibles and investments to pull in more shoppers to its platform. Shares of the company were up 6% in extended trading, following an about 40% slump in the year so far. Ebay has expanded the …

EBay’s quarterly results beat estimates as new investments pay off Read More »

By Jody Godoy (Reuters) -CBS Corp and former Chief Executive Leslie Moonves agreed on Wednesday to pay investors an additional $9.75 million to settle the New York attorney general’s allegations that the company sought to cover up sexual assault claims against Moonves, including by colluding with a California police officer. New York Attorney General Letitia …

CBS, Moonves to pay $9.75 million to settle N.Y. attorney general’s securities claims Read More »

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve on Wednesday raised interest rates by three-quarters of a percentage point as it continued to battle the worst outbreak of inflation in 40 years, but signaled future increases in borrowing costs could be made in smaller steps to account for the “cumulative tightening of …

Fed delivers big rate hike, signals possible smaller increases ahead Read More »