MILAN (Reuters) – Italy’s unions will meet representatives of Stellantis, Iveco, Ferrari and CNH Industrial on Oct. 26 to start talks over wage increases, UILM union’s Gianluca Ficco said on Thursday. On Wednesday FIM-CISL, UILM, Fismic, UGLM and AQCF unions said their delegates had approved a proposal presented last week by their leaders to seek …
By David Shepardson and Ernest Scheyder WASHINGTON (Reuters) -The Biden administration said on Wednesday it is awarding $2.8 billion in grants to boost U.S. production of electric vehicle batteries and the minerals used to build them, part of a bid to wean the country off supplies from China. “By undercutting U.S. manufacturers with their unfair …
Biden awards $2.8 billion to boost U.S. minerals output for EV batteries Read More »
NEW YORK (Reuters) – BNP Paribas expects the Federal Reserve to push the fed funds rate to a peak of 5.25% in the first quarter next year, higher than market expectations and a level that could tip the world’s largest economy into recession, the bank said in a research note on Wednesday. The French bank …
BNP sees Fed terminal rate of 5.25% in Q1, U.S. recession in Q2 Read More »
(Reuters) – High natural gas prices and global competition for the fuel have driven more demand for thermal coal for power generation this year as countries try to wean themselves off Russian energy supplies and seek relatively cheaper alternatives. Some countries are reopening mothballed coal plants to secure enough energy for this winter, while others …
Factbox-Energy crisis revives coal demand and production Read More »
(Reuters) – AT&T Inc is in discussions to create a joint venture that would invest billions of dollars to expand its fiber-optic network, Bloomberg News reported on Wednesday, citing people familiar with the matter. The company is working with Morgan Stanley to help bring in an infrastructure partner to the venture, which is expected to …
AT&T in talks with investors to expand fiber optics network – report Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks snapped a two-day streak of gains on Wednesday as weakness in shares of Abbott Laboratories and a rise in Treasury yields sapped momentum from the current earnings season and outweighed a surge in Netflix Inc shares. The yield on the 10-year U.S. Treasury note touched its …
Equities close lower as rise in yields overshadows earnings Read More »
(Reuters) -Microsoft Corp laid off under 1,000 employees across several divisions this week, Axios reported on Tuesday, citing a source, making it the latest U.S. technology company to cut jobs or slow hiring amid a global economic slowdown. The layoffs affected less than 1% of Microsoft’s total workforce of around 221,000 as of June 30. …
By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Tuesday forecast a profit for the current quarter well above Wall Street estimates after reporting higher-than-expected third-quarter earnings due to a robust rebound in travel demand. Its shares were up nearly 7% to $39.73 in extended trading. The Chicago-based carrier reported an adjusted profit of …
United Airlines sees stronger profit after third-quarter earnings top estimates Read More »
By Brendan Pierson (Reuters) – The state of New Mexico on Tuesday urged a judge to hold Walgreens Boots Alliance Inc responsible for fueling the opioid crisis in the state, delivering a closing argument in the latest of several trials around the country against the pharmacy chain. “The state has proven that the opioid crisis …
New Mexico presses opioid case vs Walgreens after settling with Walmart, Kroger Read More »
By Lisa Pauline Mattackal and Medha Singh (Reuters) – A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter. Unfazed by a collapse in prices over the past 11 months, investment firms have unleashed a flurry of exchange-traded funds, anticipating …
Cryptoverse: Flurry of funds bet on bruised bitcoin’s allure Read More »
