(Reuters) – Pershing Square USA said on Wednesday it was withdrawing its initial public offering, a day after hedge fund manager Bill Ackman’s new portfolio in the United States disclosed it would raise roughly $2 billion in capital. Ackman said on Wednesday he would revisit the IPO once he is ready to launch a revised…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – A Tesla Model S car was in “Full Self-Driving” mode when it hit and killed a 28-year-old motorcyclist in the Seattle area in April, police said, making it at least the second accident involving the technology on which Tesla CEO Elon Musk is pinning his hopes. The 56-year-old…
(Reuters) – The World Bank said on Tuesday its board had approved a $1 billion credit for Ethiopia, as the Horn of Africa country tries to push ahead with a long-running debt restructuring. Africa’s second-most populous country after Nigeria secured a four-year, $3.4 billion programme from the International Monetary Fund on Monday, hours after the…
By Jarrett Renshaw and Nandita Bose (Reuters) -Vice President Kamala Harris will tour battleground states next week with her vice presidential candidate, two sources familiar with the planning said on Tuesday, a sign the selection process for her running mate is coming to a close. The high-stakes decision on who will run with Harris has…
DETROIT (Reuters) – Jeep-maker Stellantis said on Tuesday it is offering a new round of voluntary buyouts to its U.S. salaried workers, the latest in a series of cost-cutting measures CEO Carlos Tavares is placing on its American operations. The Netherlands-based automaker laid off 400 U.S. salaried workers in March and last year twice offered…
By Mike Scarcella and Jody Godoy (Reuters) -Meta Platforms has agreed to pay $1.4 billion to Texas to resolve the state’s lawsuit accusing the Facebook parent of illegally using facial-recognition technology to collect biometric data of millions of Texans without their consent. The terms of the settlement, disclosed on Tuesday, mark the largest accord ever…
By Joey Roulette WASHINGTON (Reuters) – SpaceX is in talks with U.S. and Australian officials to land and recover one of its Starship rockets off Australia’s coast, a possible first step toward a bigger presence for Elon Musk’s company in the region as the two countries bolster security ties, according to three people familiar with…
By Niket Nishant (Reuters) – Shares of New York-listed crypto firms fell on Monday as bitcoin dipped after breaching the $70,000-mark for the first time since mid-June. The sell-off erased gains from earlier in the session, when optimism fueled by Republican presidential candidate Donald Trump’s pro-crypto speech lifted stocks. The volatile cryptocurrency has often seen…
By Savyata Mishra (Reuters) -McDonald’s reported a surprise drop in sales worldwide on Monday, its first decline in 13 quarters, as deal-seeking consumers shy away from higher priced menu items, including Big Macs. Persistent inflation has forced lower-income consumers to shift to more affordable food options at home. That has led fast food chains such…
By Rajesh Kumar Singh CHICAGO (Reuters) – Southwest Airlines’ plan to eliminate open seating is one way for the company to raise much-needed revenue, but it comes with the risk of alienating loyal customers. The unusual practice of letting passengers choose their own seats once they board the plane was created by Southwest’s egalitarian-minded founder,…
