Category: Reuters
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Russia eases forex sales requirements for contracts in roubles By Reuters
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MOSCOW (Reuters) – The Russian government has eased requirements for mandatory foreign currency sales for exporters if more than half the value of their contracts is paid in rubles, according to changes to a government decree. President Vladimir Putin signed a decree in October reimposing capital controls, affecting dozens of…
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Delaware judge lets more than 70,000 Zantac lawsuits go forward By Reuters
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Written by Brendan Pearson (Reuters) – A Delaware judge allowed more than 70,000 lawsuits to proceed over the discontinued heartburn drug Zantac, ruling that expert witnesses can testify in court that the drug may cause cancer. Friday’s ruling by Judge Vivian Medinella of Delaware Superior Court in Wilmington is a…
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Boeing executives unlikely to be charged over 737 MAX crashes, source says By Reuters
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By Mike Spector NEW YORK (Reuters) – U.S. Justice Department officials told family members of victims at a meeting that it is unlikely that criminal charges will be brought against Boeing (NYSE:) executives in fatal crashes in 2018 and 2019 that killed 346 people, as the statute of limitations has…
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Boeing’s woes a ‘burden’ for entire sector, Airbus executive says By Reuters
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FRANKFURT (Reuters) – Safety and quality problems uncovered at Boeing Co (NYSE:) after a door plug exploded earlier this year threaten to shake travelers’ confidence in flying, a senior executive at rival Airbus said. Christian Scherer, CEO of Airbus’ commercial aircraft division, told German weekly magazine WirtschaftsWoche that these problems…
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US lawmakers ask FBI for briefing on GenScript Biotech’s links to China By Reuters
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Written by Karen Freifeld (Reuters) – The U.S. House Committee on China has asked the FBI and intelligence agencies to provide a briefing on biotech company GenScript and three subsidiaries to determine whether the Chinese Communist Party has influence over their operations. In a letter dated May 30 to the…
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Soccer-Everton takeover by US private equity firm falls through By Reuters
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(Reuters) – Premier League club Everton said on Saturday that the takeover agreement with potential owner 777 Partners had expired after the American private equity firm failed to complete the acquisition of a majority stake in Farhad Moshiri by Friday’s deadline. In September, the Miami-based investment fund said it had…
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Delta Air sees healthy demand, especially on international routes By Reuters
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Written by Lisa Barrington DUBAI (Reuters) – Delta Air Lines Corp (NYSE:) remains committed to the Boeing 737 MAX 10 it has ordered for delivery starting next year, although it does not expect to receive the plane for some time. CEO Ed Bastian said Saturday. Delta, one of the largest…
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Boeing’s Starliner capsule set for launch of first crewed space flight By Reuters
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Written by Joey Rowlett and Steve Gorman CAPE CANAVERAL, Fla. (Reuters) – Boeing Co.’s (NYSE:) new Starliner astronaut capsule is scheduled to launch on Saturday in its long-delayed first crewed test flight, a milestone in the beleaguered aviation giant’s goal to compete with Elon Musk’s SpaceX in outer space. Astronaut…
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What next after voting ends? By Reuters
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(This May 30 story has been corrected to say 0230 GMT, not 0000 GMT, in paragraph 5) (Reuters) – The winners of India’s general elections held from April 19 to June 1 are expected to form a new government by mid-June after the votes are counted on June 4. Analysts…
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Live Nation probing Ticketmaster hack amid user data leak concerns By Reuters
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Written by Zeba Siddiqui SAN FRANCISCO (Reuters) – Live Nation Entertainment (NYSE:) said on Friday it was investigating a data breach at its Ticketmaster unit that it discovered on May 20, the latest in a series of high-profile corporate hacks in the past year. In a filing with the US…
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Tesla shareholder sues Musk for alleged $7.5 billion insider trading By Reuters
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(Reuters) – A Tesla (NASDAQ:) shareholder filed a lawsuit on Thursday accusing CEO Elon Musk of insider trading when he sold more than $7.5 billion in shares of the electric car maker in late 2022, saying the businessman… The billionaire sold the stock before it was disappointing. Production and delivery…
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Top proxy adviser ISS recommends against Tesla CEO Musk’s ‘excessive’ $56 billion pay By Reuters
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Written by Ross Kerber (Reuters) – Top proxy advisory firm ISS recommended that Tesla (NASDAQ:) shareholders vote against ratifying CEO Elon Musk’s $56 billion pay package, calling the compensation excessive and rejecting the plan drawn up by the electric car maker’s board. In a report sent by a representative late…
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Exclusive-TikTok preparing a US copy of the app’s core algorithm, sources say By Reuters
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Written by Crystal Ho and Sheila Dang (Reuters) – TikTok is working to clone its recommendation algorithm for its 170 million American users, which could lead to a version that operates independently of its Chinese parent company and is more palatable to U.S. lawmakers who want to ban it, according…
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Dollar ascendant as surging US yields spur safety bid By Reuters
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Written by Kevin Buckland TOKYO (Reuters) – The dollar rose to a two-week high against its major counterparts on Thursday, as a decline in Treasuries improved the currency’s appeal due to rising U.S. yields and demand for safe-haven assets. The dollar surged to a two-week high against the euro and…
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Fourteen Hong Kong democrats found guilty in landmark subversion trial By Reuters
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Written by Jesse Pang and James Pomfret HONG KONG (Reuters) – Fourteen Hong Kong pro-democracy activists were convicted and two acquitted on Thursday in a landmark subversive trial that critics say could deal another blow to the city’s rule of law and its reputation as a global financial center. The…
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Google to invest $2 billion in data centre and cloud services in Malaysia By Reuters
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KUALA LUMPUR (Reuters) – Google will invest $2 billion in Malaysia to develop its first data center and Google Cloud region in the country, the unit of Alphabet Inc (Nasdaq) said on Thursday, the latest in an expansion wave for global technology companies. To Southeast Asia. The government said the…
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Gemini customers get back over $2 billion in crypto from Genesis bankruptcy By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – Bankrupt cryptocurrency bank Genesis and cryptocurrency exchange Gemini have returned more than $2 billion in cryptocurrencies to 232,000 retail customers in their jointly managed Gemini Earn program, giving customers a 242% return on assets locked since January 2023, they said. Gemini reported…
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Dollar steady ahead of inflation data, yen hits 4-week low By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – The dollar received support on Wednesday thanks to growing expectations that the Federal Reserve (U.S. central bank) is unlikely to cut interest rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest levels in…
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Growing armada shipping sanctioned oil burns dirty fuel in a setback for clean-up efforts By Reuters
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Written by Jonathan Saul LONDON (Reuters) – The growing shadow fleet of tankers transporting sanctioned Iranian, Venezuelan and Russian oil is filling up with the cheapest fuel available, hampering industry efforts to use cleaner fuels to cut shipping emissions, according to shipping data and sources. The global shipping industry is…
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PBOC is expected to set the USD/CNY reference rate at 7.2528 – Reuters estimate
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The People’s Bank of China is scheduled to release the USD/CNY reference exchange rate at approximately 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or renminbi). The People’s Bank of China follows…