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(Reuters) -New York City’s Comptroller and other Starbucks shareholders have written to the company to resume talks with its workers’ union to discuss staffing, wages and other issues, the city agency said on its website on Thursday. Union workers represent a small but growing fraction of U.S. Starbucks store staff and the fight over wages …

NYC Comptroller and other investors urge Starbucks to restart union talks Read More »

(Reuters) -U.S. regional bank Fifth Third Bancorp reported a 14% jump in third-quarter profit on Friday on the back of robust fee income, but booked a $178 million loss related to the bankruptcy of auto dealer Tricolor.   Broad-based growth across Fifth Third’s fee businesses lifted non-interest income to $781 million in the quarter, up 10% …

Fifth Third profit jumps on fee income, records $178 million loss from Tricolor bankruptcy Read More »

By Svea Herbst-Bayliss BOSTON (Reuters) -Activist investor HoldCo Asset Management has built a sizable position in Eastern Bankshares and wants the storied Boston financial institution to put itself up for sale, instead of buying up other banks, according to people familiar with the matter and documents seen by Reuters. HoldCo, which built its 3% stake …

Exclusive-Activist HoldCo owns Eastern Bankshares stake, pushes for sale, sources say Read More »

By Manya Saini (Reuters) -Jefferies was defrauded by bankrupt auto parts maker First Brands Group, its CEO Rich Handler said at its investor day held on Thursday. His comment comes against the backdrop of several financial firms alleging fraud, while the U.S. Department of Justice is also probing the company. “I’ll just say this is …

Jefferies CEO says bank was defrauded by auto parts maker First Brands Read More »

By Valerie Volcovici WASHINGTON (Reuters) -The state of California announced a lawsuit against three major plastic bag producers and reached a settlement with four other manufacturers on Friday after concluding an investigation into their false claims that these bags were recyclable. California Attorney General Rob Bonta announced a lawsuit against Novolex Holdings LLC, Inteplast Group …

California takes action against plastic bag makers over recycling claims Read More »

(Reuters) -Tesla’s proposed $1 trillion pay package for CEO Elon Musk came under fresh scrutiny on Friday, with proxy adviser ISS urging shareholders to reject what might be the largest-ever compensation plan awarded to a company chief. This is the second consecutive year that Institutional Shareholder Services has urged investors to reject a compensation plan …

Tesla pay plan faces pushback as ISS urges vote against Musk’s $1 trillion package Read More »

(Reuters) -The U.S. Treasury bought Argentine pesos in the spot and “Blue Chip Swap” markets on Thursday and it continues to monitor all markets, Treasury Secretary Scott Bessent said on Friday. “Treasury is monitoring all markets, and we have the capacity to act with flexibility and with force to stabilize Argentina,” he said in a …

Bessent says US bought pesos again, currency slips Read More »

(Reuters) -A new underground transmission line was approved by the New York State Public Service Commission linking an existing Clay substation with Micron Technology’s proposed semiconductor megafab facility in Onondaga County, Governor Kathy Hochul announced on Thursday. The two-mile, 345-kilovolt line is a key piece of infrastructure for Micron’s planned $100 billion investment in Central …

New York approves power line for Micron’s $100 billion semiconductor plant Read More »

BEIJING (Reuters) -Shares of Chinese EV maker Xiaomi suffered their biggest weekly loss in more than 3-1/2 years on Friday, after media reported two separate accidents involving its best-selling model this week. Xiaomi shares ended the day 3.7% lower at HK$45.96 ($5.92), the lowest close since April 22. For the week, they tumbled 11.7%, the …

Xiaomi shares post worst week in 3-1/2 years as accidents stoke EV safety concerns Read More »