By Mike Scarcella (Reuters) – Visa and Mastercard have agreed to pay $197 million to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. The plaintiffs’ lawyers revealed the proposed accord on Wednesday in a filing in Washington, D.C., federal court. The settlement involves…
By Humeyra Pamuk CHISINAU (Reuters) – The delivery of U.S. weapons to Ukraine is helping stabilize the frontline of the battlefield, U.S. Secretary of State Antony Blinken said on Wednesday, adding that Washington was working hard to deliver more air defenses to Ukraine. Blinken, speaking at a press conference in the Moldovan capital of Chisinau,…
(Reuters) -The California Public Employees Retirement System (CalPERS) CEO Marcie Frost is planning to oppose Tesla CEO Elon Musk’s $56 billion pay package, CNBC reported on Wednesday. “We do not believe that the compensation is commensurate with the performance of the company,” Frost said in an interview to CNBC. Asked if the pension fund was…
By Granth Vanaik (Reuters) – Several Wall Street brokerages, including J.P. Morgan and UBS, have started coverage on Viking Holdings, with a bullish view on the travel and cruise company’s growth opportunities in an expanding global vacations market. Viking shares rose about 1% to $29.93 on Tuesday and were up more than 13% since their…
By Laila Kearney NEW YORK (Reuters) -Oil prices rose by more than $1 a barrel on Tuesday on the expectation that OPEC+ will maintain crude supply curbs at its June 2 meeting, while a weaker U.S. dollar made the commodity more attractive to holders of other currencies. The July contract for global benchmark Brent crude…
(Reuters) -GameStop jumped 14% on Tuesday after the struggling video game retailer said it had raised $933 million by cashing in on a rally in the meme stock earlier this month. The company’s shares surged nearly six times their value in the first two weeks of May, partly fueled by the re-emergence of “Roaring Kitty”…
By Sabrina Valle HOUSTON (Reuters) – Hess Corp on Tuesday approved the company’s $53 billion merger with the No. 2 U.S. oil company Chevron, according to preliminary results of the vote. The merger required a majority vote to approve the deal by a majority of Hess’ 308 million shares outstanding to pass. The company did…
PARIS (Reuters) – The European Central Bank has plenty of room for rate cuts and current market expectations for easing over the long-run are reasonable, ECB policymaker Francois Villeroy de Galhau said in a newspaper interview on Monday. After a first rate cute next month that Villeroy described as a “done deal”, debate among ECB…
By Oliver Griffin BOGOTA (Reuters) – Government measures to destroy illegal roads in and around Colombia’s Amazon rainforest are stalled, eight sources told Reuters, with one operation suspended altogether over concerns it could set back peace talks between rebels and President Gustavo Petro’s administration. The construction of roads through rainforests in Colombia by rural communities,…
(Reuters) -Elon Musk’s AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race. The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post…
