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(Reuters) – Nikola Corp’s founder Trevor Milton voted against the electric vehicle company’s proposal to issue new shares at the company’s annual general meeting, a Bloomberg News report on Thursday, citing sources. Milton’s vote, which threw the outcome into doubt, led to the decision to immediately adjourn the meeting, in order to allow the company …

Nikola founder Trevor Milton votes against issuing new shares – Bloomberg News Read More »

(Reuters) – Citigroup Inc could record losses of more than $50 million after a London-based employee’s fat-finger trade caused a flash crash in European stocks last month, Bloomberg Law reported on Thursday, citing people familiar with the matter. The sudden fall in shares, driven by a brief crash in Nordic markets, was caused by a …

Citi’s fat-finger trade could cost bank more than $50 million – Bloomberg Law Read More »

By Fergal Smith TORONTO (Reuters) – The Canadian dollar will gain ground over the coming year as high commodity prices bolster Canada’s economic outlook and the Bank of Canada likely continues to raise interest rates aggressively, a Reuters poll showed. The loonie is the only G10 currency to keep pace with the U.S. dollar, a …

Canadian dollar to strengthen as BoC moves ‘aggressively’ on rate hikes – Reuters poll Read More »

(Reuters) -Russia is replacing Citibank, which has stopping servicing the country’s Eurobonds, with its own National Settlement Depository, the finance ministry said on Thursday, as it risks its first major external debt default in over a century. Sanctions imposed by Western countries and their allies on Russia after it started what it calls a “special …

Russia’s national depository to replace Citi as Eurobond servicing agent Read More »

WASHINGTON (Reuters) -High inflation is being driven by global phenomena that could not be anticipated, including Russia’s invasion of Ukraine, U.S. Deputy Secretary of the Treasury Wally Adeyemo said on Wednesday, adding that U.S. demand remains strong. “I don’t think anyone saw the invasion – Russia’s invasion of Ukraine – coming, which is driving the …

U.S. Treasury’s Adeyemo says global phenomena, war driving inflation Read More »

(Reuters) – The U.S. Postal Service (USPS) said Wednesday it is seeking to boost the number of electric delivery vehicles it plans to buy as it implements a new delivery strategy. The USPS currently plans to buy at least 10% EVs including 10,019 of an initial order of 50,000 from Oshkosh Defense. The Postal Service …

USPS looks to boost purchase of electric delivery vehicles Read More »

By Jarrett Renshaw and Stephanie Kelly (Reuters) -The Biden administration is likely to raise ethanol blending mandates for 2021 above the figure it proposed in December to align with actual U.S. consumption levels, according to two sources briefed on the decision. In December, the U.S. Environmental Protection Agency proposed that refiners blend 13.32 billion gallons …

Exclusive-Biden administration likely to retroactively raise ethanol blending volumes for 2021, sources say Read More »

NEW YORK (Reuters) – Delta Air Lines Chief Executive Officer Ed Bastian said on Wednesday it was still trying to reach an aircraft deal with Boeing Co. Reuters reported in March that Boeing was edging toward a landmark order from Delta for up to 100 of its 737 MAX 10 jets.. Asked at an industry …

Delta CEO says airline trying to reach deal with Boeing Read More »

By Sinéad Carew, Devik Jain and Anisha Sircar (Reuters) – Wall Street’s three major indexes closed lower on Wednesday as investors bet that the latest economic data would do nothing to push the Federal Reserve off track from its aggressive interest rate hiking cycle aimed at taming run-away inflation. Data showed that while U.S. job …

Wall Street ends lower as economic data fails to ease rate hike angst Read More »

CHICAGO (Reuters) – United Airlines Chief Executive Scott Kirby on Wednesday said air fares are returning to normal levels following the pandemic lows and there is “not a hint of evidence” that rising ticket prices are hurting consumer demand. “We’re just back to normal pricing,” Kirby told the Bernstein Conference. “It feels like high pricing …

United Airlines CEO says air fares are returning to normal levels Read More »