By Rishav Chatterjee (Reuters) -Oil producer Saudi Aramco will buy a 10% stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at 7.40 billion euros ($7.93 billion). Geely and Renault will own around 45% each of the powertrain venture, called Horse…
(Reuters) – The White House is seeking an additional $4 billion in funding from Congress for disaster needs, including to help rebuild the Baltimore bridge after its collapse and in response to last year’s fires in Maui, the Office of Management and Budget said on Friday. Funds would also help survivors of tornadoes in Iowa,…
(Reuters) -Online fast-fashion group Shein is keeping alive a fallback option to list in Hong Kong despite filing for a London listing, the Financial Times reported on Friday, citing people familiar with the situation. The company confidentially filed papers with Britain’s markets regulator in June, two sources told Reuters on Monday, kicking off the process…
WASHINGTON (Reuters) – The U.S. Senate budget committee on Thursday launched a probe of 18 domestic oil producers about any efforts to illegally coordinate with the Organization of the Petroleum Exporting Countries on oil prices. Senator Sheldon Whitehouse, a Democrat and the chairman of the committee, said in a statement he seeks to understand whether…
By Daniel Wiessner (Reuters) -A U.S. appeals court on Thursday revived a software engineer’s proposed class action claiming Meta Platforms refused to hire him because it preferred to give jobs to foreign workers who are paid lower wages. The San Francisco-based 9th U.S. Circuit Court of Appeals in a 2-1 ruling said that a Civil…
By Joey Roulette WASHINGTON (Reuters) -A defunct Russian satellite has broken up into more than 100 pieces of debris in orbit, forcing astronauts on the International Space Station to take shelter for about an hour and adding to the mass of space junk already in orbit, U.S. space agencies said. There were no immediate details…
(Reuters) – The U.S. Justice Department has charged 193 people, including 76 doctors, nurses and other medical professionals, with participating in health care fraud schemes worth $2.75 billion, the agency said on Thursday. The government seized more than $231 million in cash, luxury vehicles, gold and other assets in the law enforcement action that spanned…
WASHINGTON (Reuters) – A group of 26 state attorneys general led by West Virginia and Kentucky on Wednesday challenged the Biden administration’s new fuel economy rules, calling the requirements unworkable and forcing automakers to build more electric vehicles. The National Highway Traffic Safety Administration on June 7 finalized tighter vehicle fuel economy rules through 2031…
(Reuters) – Volvo will postpone the U.S. deliveries of its EX30 electric car as it shifts production of the compact SUV out of China in the wake of tariff hikes, Bloomberg News reported on Wednesday. The EX30’s shipments to the United States were due this fall, but the automaker won’t deliver the cars until 2025…
By Ankika Biswas, Lisa Pauline Mattackal and Carolina Mandl (Reuters) -Major U.S. stock indexes closed with modest gains on Wednesday after a choppy trading session, with investors holding their cards close to the vest ahead of a presidential debate and an inflation report closely watched by Federal Reserve policy makers. “We’re in this kind of…
