Reuters | March 18, 2024
By Pratima Desai LONDON (Reuters) – The U.S. looked into buying cobalt for defence stockpiles last year, three sources with knowledge of the matter said, adding the Defense Logistics Agency (DLA) could consider purchases in future despite deciding against them in its latest plan. Any increase in cobalt holdings would be aimed at reducing reliance […]
Reuters | March 15, 2024
By Jonathan Stempel and Mike Scarcella (Reuters) -The National Association of Realtors agreed on Friday to resolve antitrust litigation accusing brokerages of inflating sales commissions, a settlement likely to bring major changes and lower costs when Americans buy and sell homes. The $418 million settlement calls for the NAR to eliminate decades-old rules on commissions, […]
Reuters | March 13, 2024
By Echo Wang (Reuters) -Private equity firm Vista Equity Partners is seeking to hire investment banks for a U.S. initial public offering of Solera, a provider of software to the automotive and insurance industries, people familiar with the matter said on Wednesday. Vista, which acquired Solera for $6.5 billion in 2016, is interviewing banks as […]
Reuters | March 13, 2024
(Reuters) – McDonald’s international sales will fall sequentially in the current quarter, pressured by the conflict in the Middle East and demand weakness in China, CFO Ian Borden said on Wednesday, sending its shares down 2% in early trade. First-quarter comparable sales in McDonald’s International Developmental Licensed Markets segment will be “slightly lower” than the […]
Reuters | March 12, 2024
(Reuters) -John Barnett, a former Boeing employee who had reportedly raised concerns about the company’s production issues, was found dead of an apparent suicide, according to authorities in South Carolina. Barnett had worked at Boeing for 32 years before leaving the company in 2017, according to the BBC, which previously reported on his efforts to […]
Reuters | March 11, 2024
By Carolina Mandl NEW YORK (Reuters) – GoldenTree Asset Management raised over $1.35 billion for its first pure private credit fund, the firm said in a statement on Monday, getting a strong foothold in a booming market. The firm, with $53 billion in assets under management, has already invested $6 billion in private credit through […]
Reuters | March 8, 2024
By Mike Scarcella (Reuters) – Tesla owners who accused it of falsely advertising estimated driving ranges for its electric vehicles must pursue their claims in individual arbitrations rather than banding together in proposed class action lawsuits, a federal judge ruled. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California said on Thursday the drivers had […]
Reuters | March 7, 2024
By Howard Schneider WASHINGTON (Reuters) – The U.S. economy is not at the point where the Federal Reserve should reduce interest rates, Fed Governor Michelle Bowman said on Thursday, and while the baseline remains for falling inflation and eventual rate cuts, tighter monetary policy still can’t be ruled out. “While the current stance of monetary […]
Reuters | March 6, 2024
By Aditya Soni and Abinaya V (Reuters) – OpenAI on Tuesday hit back at Elon Musk’s claims that the startup abandoned its original mission with emails that showed the billionaire supported its plan to create a for-profit entity and wanted a merger that would make Tesla its “cash cow.” Musk, one of the co-founders of […]
Reuters | March 6, 2024
By Sinéad Carew and Bansari Mayur Kamdar (Reuters) -Wall Street three major indexes all retreated more than 1% on Tuesday, with weakness in megacap growth companies such as Apple Inc and the chip sector weighing most on the Nasdaq ahead of this week’s crop of economic data and remarks from Federal Reserve Chair Jerome Powell. […]