By Pritam Biswas and Mehnaz Yasmin (Reuters) -U.S. financial firms facilitated investments worth billions of dollars in index funds that included blacklisted Chinese companies, according to a bipartisan House Committee investigation that called for legislation aimed at restricting investment in those Chinese entities. U.S. index providers and asset managers channeled $6.5 billion last year to…
By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce – the second round of job cuts this year – as it reduces cost amid a broader slowdown in EV demand. Shares of Rivian, up as much as 3.4% on Wednesday, pared…
By Leika Kihara WASHINGTON (Reuters) -Bank of Japan Governor Kazuo Ueda said on Thursday the central bank may raise interest rates again if the yen’s declines significantly push up inflation, highlighting the impact currency moves may have on the timing of the next policy shift. “There’s a possibility the weak yen could push up trend…
By David Lawder WASHINGTON (Reuters) – The World Bank Group on Thursday unveiled a new goal to help countries deliver affordable healthcare to 1.5 billion people by 2030 by expanding services to remote areas, cutting fees and other financial barriers and focusing on lifetime care. The development lender said it would deploy financing, its own…
By Shankar Ramakrishnan (Reuters) – Lenders are starting to ask for extra protection in junk-rated corporate loans to damp down on a growing practice among some stressed companies to engage in a creative financing technique that allowed them to raise new money, said a Moody’s report on Thursday. Over the past year, many junk-rated companies…
(Reuters) -Tesla’s attempt to seek a shareholder re-vote on CEO Elon Musk’s record-breaking pay that was voided by a Delaware judge in January has once again put the spotlight on CEO compensation in corporate America. Unlike the conventional packages, Musk’s $56 billion pay did not include a salary or cash bonus. Instead, it sets rewards…
(Reuters) – Alphabet-owned Google said on Thursday it would consolidate teams that focus on building artificial intelligence models across its Research and DeepMind divisions in its latest push to develop its AI portfolio. Google will relocate its Responsible AI teams – which focuses on safe AI development – from Research to DeepMind so that they…
