By Lewis Krauskopf, Devik Jain and Anisha Sircar (Reuters) – Wall Street’s major indexes jumped over 2% on Tuesday as investors scooped up shares of megacap growth and energy companies after the stock market swooned last week on worries over a global economic downturn. All 11 major S&P 500 sectors gained, as stocks rebounded broadly …
WASHINGTON (Reuters) – Supporters of a U.S. bill aimed at reining in Big Tech platforms like Amazon.com and Alphabet’s Google have flooded lawmakers with nearly 4,000 phone calls, while critics of the legislation sent a letter telling senators it would “harm consumers.” Versions of the bill have progressed further than any previous Big Tech antitrust …
Big Tech bill advocates and critics keep pressure on U.S. lawmakers Read More »
By Sabrina Valle HOUSTON (Reuters) -Chevron Chief Executive Michael Wirth on Tuesday rebutted White House officials’ criticism of the oil industry over energy costs, saying bringing down fuel prices will require “a change in approach” by the government. The White House asked the CEOs of seven refiners and oil companies including Chevron to a meeting …
Chevron CEO says Biden should stop criticizing Big Oil, urges change in approach Read More »
(Reuters) – Trevor Milton, the billionaire founder and former chief executive of Nikola Corp has asked a federal judge to block evidence related to his “wealth, lifestyle or spending habits” at his trial for fraud charges. A court filing from Monday showed that Milton’s lawyers told U.S. District Judge Edgardo Ramos that details of Milton’s …
Nikola founder asks judge to block evidence of ‘wealth’, ‘lifestyle’ in fraud case Read More »
WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday said a potential suspension of the federal gasoline tax would have some, but not significant, impact on highway funds. Biden said he would decide by the end of the week on whether to ask Congress to suspend the tax to help with high gas prices. The …
Biden says U.S. gas tax holiday would have no major impact on highway funds Read More »
By David Shepardson WASHINGTON (Reuters) -General Motors Co, Ford Motor Co and Chrysler parent Stellantis NV said on Tuesday they are making masking optional for workers at all U.S. facilities. In mid-May, the Detroit Three automakers and the United Auto Workers — which have a COVID-19 joint task force — reinstated a requirement that employees …
Detroit Three automakers to make masking optional at all U.S. plants Read More »
(Reuters) – The Obamas’ media company Higher Ground has signed a multi-year deal with Amazon Inc-owned Audible to make original audio content, after ending its three-year run with Spotify. The terms of the agreement announced on Tuesday were not disclosed. The deal gives Audible the right to have a first look at the new material …
Obamas find new podcast home at Audible after Spotify exit Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The Federal Reserve’s aggressive monetary policy tilt has prompted some of Wall Street’s biggest banks to ramp up forecasts for a U.S. recession, threatening more downside for an already bruised stock market. The S&P 500 index is already down about 21% this year after last week posting …
Growing forecasts for U.S. recession may spell more trouble for stocks Read More »
NEW YORK (Reuters) -The United States and Facebook owner Meta Platforms Inc have settled a lawsuit over a housing advertising system that illegally discriminated against users based on race and other characteristics, the Department of Justice said on Tuesday. In a lawsuit filed in federal court in Manhattan, the Department of Justice (DOJ) said Meta …
U.S., Meta settle lawsuit over discrimination in housing advertising tool Read More »
(Reuters) – Activision Blizzard Inc shareholders voted in favor of a proposal on Tuesday for a report on the video game company’s efforts to prevent employee abuse, harassment and discrimination. Activision, which is being acquired by Microsoft Corp for $68.7 billion, has been under fire for alleged misconduct at the company. The company’s shareholders had …
Activision shareholders vote in favor of report on abuse, harassment Read More »
