Category: Reuters
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Chuck Close’s estate settles lawsuit against Cigna over medical bills By Reuters
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By Jonathan Stempel NEW YORK (Reuters) – The estate of Chuck Close, an artist known for his large-scale realistic paintings of himself and others, has settled a lawsuit accusing Cigna Inc. of failing to pay hundreds of thousands of dollars for medical care he needed in the final years of…
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South Korea’s SK On in talks to supply prismatic EV batteries as it seeks turnaround By Reuters
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By Heekyung Yang SEOUL (Reuters) – South Korean electric vehicle battery maker SK ON is in talks with automakers to supply prismatic batteries and expand its existing pouch battery range, a senior company executive said, as it struggles to improve performance amid slowing global demand for electric vehicles. SK ON,…
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Vietnam’s VinFast delays US electric car plant amid market slowdown By Reuters
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By Phuong Nguyen HANOI (Reuters) – Vietnamese electric vehicle maker VinFast has postponed the launch of its planned $4 billion North Carolina factory to 2028 and cut its delivery forecast for this year by about 20,000 units amid uncertainty in the global electric vehicle market. Vinfast, founded by Vietnam’s richest…
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Southwest Air, Archer Aviation work on plans to fly air taxis in California By Reuters
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By David Shepardson Southwest Airlines Co. and Archer Aviation Inc. said Friday they have agreed to develop operational plans for electric air taxi networks that Archer is building at California airports where Texas-based Southwest operates. The companies said they have signed a memorandum of understanding to collaborate on a concept…
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US court temporarily puts net neutrality rules reinstatement on hold By Reuters
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By David Shepardson WASHINGTON (Reuters) – A U.S. appeals court said on Friday it has temporarily halted the Federal Communications Commission’s reinstatement of landmark net neutrality rules until Aug. 5 while it considers legal challenges from the broadband industry. The Federal Communications Commission voted in April along party lines to…
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US court rejects challenges to FCC approval of SpaceX satellites By Reuters
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By David Shepardson WASHINGTON (Reuters) – A U.S. appeals court on Friday upheld the Federal Communications Commission’s decision to approve SpaceX’s plan to deploy thousands of Starlink satellites to provide broadband internet service in space. The U.S. Court of Appeals for the District of Columbia has rejected the legal challenge…
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Taiwan president thanks Micron CEO for his trust in Taiwan By Reuters
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(Change company identifiers in the first two paragraphs) TAIPEI (Reuters) – Taiwan President Lai Ching-te thanked Micron’s chief executive Sanjay Mehrotra on Friday for his trust and continued investment in the island, in a rare public meeting with a top foreign technology executive. It is highly unusual for Taiwan’s president…
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Air Incheon to consider widebody freighter orders after Asiana cargo purchase By Reuters
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(Corrects paragraph 6 to reflect that Incheon Airlines plans to sell space directly to logistics companies.) By Lisa Barrington SEOUL (Reuters) – Air Incheon, set to become South Korea’s second-largest cargo carrier once it completes a deal to buy Asiana Airlines’ cargo unit, will consider buying Boeing and Airbus freighters…
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Tesla delays robotaxi launch to October from August, Bloomberg News reports By Reuters
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Tesla Inc. has delayed the launch of a robotaxi by about two months until October after the design team was asked to redesign some elements of the vehicle, Bloomberg News reported on Thursday, citing people familiar with the decision. Shares of Tesla (NASDAQ:TSLA), which is betting on self-driving vehicles over…
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Grab’s deal to buy Trans-cab could reduce competition, Singapore regulator says By Reuters
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(Reuters) – Singapore’s competition watchdog has asked car rental firm Grab and Transcab to submit solutions to address competition concerns after last year’s deal to buy the taxi firm. Grab is one of the city-state’s largest ride-hailing companies, with the deal for Transcab reportedly worth around S$100 million (US$74 million).…
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Japanese yen surges, ringing intervention alarm bells By Reuters
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(Reuters) – The Japanese yen jumped about 3% on Thursday in its biggest daily gain since late 2022, a move local media attributed to a round of official buying to support the currency, which is at a 38-year low. The dollar fell to 157.40, just after data showed that consumer…
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Oil steadies as investors weigh mixed demand signals By Reuters
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By Robert Harvey and Arunima Kumar LONDON (Reuters) – Oil prices steadied on Thursday, with benchmark crude holding above $85 a barrel as investors weighed a bleak demand growth outlook from the International Energy Agency and signs of growing U.S. consumption. Brent crude futures were up 1 cent, or 0.01…
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Uniqlo owner lifts forecast again as weak yen powers sales from tourists By Reuters
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Written by Rocky Swift TOKYO (Reuters) – The Japanese operator of fashion giant Uniqlo on Thursday raised its forecast for what would be a third straight year of record profit, helped by strong sales at home and some overseas markets. The domestic market has been a bright spot for Fast…
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BHP to suspend Western Australia nickel operations By Reuters
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MELBOURNE (Reuters) – Australian miner BHP Group said on Thursday it would temporarily suspend operations at its Nickel West and West Musgrave projects from October as it grapples with a sharp drop in metals prices and oversupply in the global market. The world’s largest listed miner is set to review…
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Donald Trump to address Bitcoin 2024 conference on July 27 By Reuters
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Written by Kanishka Singh WASHINGTON (Reuters) – Former U.S. President and current Republican presidential candidate Donald Trump will speak at the 2024 convention in Nashville, Tennessee, on July 27, convention organizers said on Wednesday. Why is this important? Trump, who is running against Democratic President Joe Biden in the US…
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US regulators fine Citi $136 million for failing to fix longstanding data issues By Reuters
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By Michelle Price, Beth Schroeder, and Tatiana Bautzer WASHINGTON (Reuters) – U.S. banking regulators have fined Citigroup Inc $136 million for making “insufficient progress” in fixing data management issues identified in 2020 and required the bank to demonstrate it is devoting sufficient resources to the effort. The U.S. Federal Reserve…
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London leads Europe on new FDI while much of UK sees drop, survey shows By Reuters
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LONDON (Reuters) – London overtook Paris last year to become the biggest region in Europe for new foreign direct investment but many other parts of the United Kingdom saw FDI fall, according to data that highlights the challenge facing the new government in spreading development across the country. Accountancy firm…
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CNN to cut 100 jobs in major overhaul to focus on digital, memo shows By Reuters
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Written by Yuvraj Malik (Reuters) – CNN plans to cut about 100 jobs as part of a plan to consolidate its news operations and strengthen its digital business, according to an internal memo seen by Reuters on Wednesday. CNN International CEO Mark Thompson said in a memo to employees that…
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ADM names 3M’s Patolawala as its CFO amid US government investigation By Reuters
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Manufacturing giant 3M said Wednesday that Chief Financial Officer Monish Batulawalla will leave the company at the end of this month, before moving to Archer Daniels Midland as the grain trading company’s new chief financial officer. The company said on Wednesday that Batolawala’s appointment as CEO will take effect on…
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Exclusive-Bank of Israel waiting for digital euro ahead of digital shekel launch By Reuters
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By Stephen Sher JERUSALEM (Reuters) – The Bank of Israel remains committed to its plans to issue a digital currency to improve Israel’s payments system and boost innovation, but it is unlikely to launch it before other advanced economies. “We are all waiting for the first Western central bank to…