Reuters US Business

By Joseph White and David Shepardson TOLEDO, Ohio/WASHINGTON (Reuters) -The United Auto Workers will seek a speedier recognition from GM that does not require a vote to represent hourly workers in the automaker’s growing stable of U.S. joint-venture battery plants, the union said on Friday. UAW President Ray Curry, speaking at an event in Toledo, …

UAW will seek faster recognition in GM’s U.S. joint-venture battery plants Read More »

By Hannah Lang (Reuters) – Cryptocurrency exchange Kraken has no plans to delist tokens the U.S. Securities and Exchange Commission has labeled as securities, or to register with the agency as a market intermediary, said incoming chief executive officer Dave Ripley on Thursday. The stance of the San Francisco-based platform, which says it has more …

Crypto exchange Kraken has no U.S. SEC registration plans, says incoming CEO Read More »

By Fergal Smith TORONTO (Reuters) – Canada’s resource-heavy main stock index posted its biggest decline in more than three months on Friday and the Canadian dollar extended its recent decline as oil prices tumbled and investors grew more worried about the global economic outlook. The Toronto Stock Exchange’s S&P/TSX composite index ended down 521.70 points, …

TSX falls by most in 3 months, C$ slides as oil rout weighs Read More »

(In Sept. 20 story, Hertz corrects its estimate in final paragraph to 1.8 million tonnes from 3.5 million) By David Shepardson and Joseph White (Reuters) -Rental car company Hertz Global Holdings plans to order up to 175,000 General Motors Co electric vehicles over the next five years, its latest move toward zero-emission models. The multi-billion …

GM, Hertz make deal to deploy up to 175,000 EVs Read More »

(Reuters) – Goldman Sachs has cut its year-end 2022 target for the benchmark S&P 500 index by about 16% to 3,600 points, as the U.S. Federal Reserve shows little signs of stepping back from its aggressive rate-hike stance. Analysts at Goldman Sachs wrote in a note on late Thursday that the expected path of interest …

Goldman Sachs cuts 2022 target for S&P 500 by 16% Read More »

By Tim Hepher PARIS (Reuters) -Europe’s Airbus on Friday gave the strongest hint yet that it plans to launch a bigger version of its 110 to 130-seat A220 passenger jet but said it would choose the timing carefully. A stretched version of the lightweight Canadian-designed airplane makes a lot of sense, “but we don’t want …

Airbus says bigger A220 jetliner makes sense at right time Read More »

BERLIN (Reuters) – The downturn in German business activity deepened in September, a preliminary survey showed on Friday, as higher energy costs hit Europe’s largest economy and companies saw a drop in new business. S&P Global’s flash composite Purchasing Managers’ Index (PMI), which tracks both the manufacturing and services sectors which together account for more …

German economic downturn deepens in Sept, outlook grim -flash PMI Read More »

(Reuters) – Russia’s banks have lost an estimated 1.5 trillion roubles ($25.5 billion) as a result of the fallout from the conflict in Ukraine, a central bank official said on Friday. Maxim Lyubomudrov, who heads the regulator’s department that supervises the country’s largest banks, said this was an “acceptable” level of losses and that the …

Russian banks lost around $25 billion from Ukraine conflict – central bank official Read More »

(Reuters) – Russian employees at airlines and airports have started to receive conscription notices after President Vladimir Putin ordered a partial military mobilisation, the Kommersant newspaper reported on Friday citing sources. Employees of at least five airlines, including Russian top carrier Aeroflot, and staff at more than 10 airports received notices within a day of …

Russian airlines staff start to receive conscription notices -Kommersant Read More »