By Tom Hals and Hyunjoo Jin (Reuters) -The judge overseeing Twitter Inc’s $44 billion lawsuit against Elon Musk has a no-nonsense reputation as well as the distinction of being one of the few jurists who has ever ordered a reluctant buyer to close a U.S. corporate merger. Kathaleen McCormick took over the role of chancellor …
Judge in Twitter v. Musk once made rare ruling: ordering a deal to close Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data and easing fears of a larger-than-expected interest rate hike by the Federal Reserve. All three major U.S. stock indexes posted solid gains, with financials leading the …
Wall St ends tumultuous week with strong rally as rate hike fears wane Read More »
WASHINGTON (Reuters) – U.S. President Joe Biden on Friday signed an executive order creating an emergency board to help resolve disputes between major freight rail carriers and their unions, in a move that could help loosen up some supply chain constraints. The order came ahead of a deadline next week to intervene in nationwide U.S. …
Biden steps in to help end freight rail carrier and union disputes Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rebounded strongly in June as Americans spent more on gasoline and other goods amid soaring inflation, which could allay fears of an imminent recession but not change the view that economic growth in the second quarter was tepid. The economic picture is, however, becoming increasingly muddled. …
U.S. retail sales beat expectations; manufacturing production slumps Read More »
(Reuters) -Juul Labs Inc said on Friday it is in the early stages of exploring several options including financing alternatives, as the company deals with lawsuits and a probable ban on sales of its e-cigarettes by U.S. health regulators. Bloomberg News earlier reported, citing sources, that Juul’s bankers at Centerview Partners are sounding out investors …
E-cigarette maker Juul to explore options including financing Read More »
NUSA DUA, Indonesia (Reuters) – Emerging markets and low-income countries may benefit in some cases from capital flow management and foreign exchange intervention, but should not use such tools to gain an unfair competitive advantage or delay balance of payments adjustments, U.S. Treasury Secretary Janet Yellen said on Friday. Yellen told finance officials from the …
Yellen sees some use for forex intervention, but not for competitive advantage Read More »
By Andrea Shalal and Stefanno Sulaiman NUSA DUA, Indonesia (Reuters) – The World Bank is seeking to block release of a report prepared for the Group of 20 major economies that calls for lowering the bank’s capital requirements to boost its lending capacity, four sources familiar with the matter said. Proponents of the independent report …
World Bank chafes at lower capital requirements recommended in G20 report – sources Read More »
By Ann Saphir and Lindsay Dunsmuir (Reuters) -Trading activity by Federal Reserve Chair Jerome Powell and former Vice Chair Richard Clarida violated no rules, the Fed’s independent watchdog said on Thursday, putting an apparent end to one chapter in an ethics scandal that embroiled the central bank last year. “Based on our findings, we are …
Trades by Fed’s Powell, Clarida violated no rules -watchdog Read More »
By Fransiska Nangoy and Stefanno Sulaiman NUSA DUA, Indonesia (Reuters) – G20 finance leaders meet on Friday on the resort island of Bali, as host Indonesia tries to find common ground in a group frayed by the Ukraine war amid rising economic pressures from soaring inflation. Russia’s invasion of Ukraine, which the Kremlin calls a …
G20 finance leaders meet in Bali under cloud of Ukraine war Read More »
By Allison Lampert and Ismail Shakil MONTREAL/OTTAWA (Reuters) -WestJet Airlines and air traffic control manager NAV Canada said their services were returning to normal on Thursday afternoon following earlier outages that led to long airport lines and 100 delayed flights. WestJet Airlines said it had restored check-in and gate services hit earlier in the day. …
WestJet and NAV Canada restore service after outages delay 100 flights Read More »
