(Reuters) – Shares of Tesla gained nearly 6% on Monday, after a key Wall Street brokerage added the stock to its watch list ahead of the automaker’s quarterly production and delivery report on Tuesday. At $209.38, Tesla could add $36.68 billion to its market value if the price holds, which would mark the fifth straight…
By Jonathan Stempel NEW YORK (Reuters) – A federal judge said Visa and Mastercard can likely withstand a “substantially greater” settlement with merchants who said they overpaid on swipe fees than the $30 billion accord she rejected this week. U.S. District Judge Margo Brodie in Brooklyn made her assessment in an 88-page opinion released on…
FRANKFURT (Reuters) – Swiss food giant Nestle is targeting stable growth in sales volumes from the second quarter throughout the remainder of the year as cost inflation eases, its CEO told Swiss weekend paper “Schweiz am Wochenende” on Saturday. “From the second quarter and for the rest of the year, we can expect a stable,…
(Reuters) -The U.S. Army awarded Lockheed Martin a multi-year contract worth $4.5 billion for its air defense Patriot Missiles system, the Pentagon said on Friday. The Patriot system is one of an array of sophisticated air defense units supplied by the West to help Ukraine, as it continues its defense against Russia’s invasion. The contract…
(Reuters) – Pershing Square USA, a fund managed by billionaire Bill Ackman, said on Friday it plans to offer shares at $50 each in its initial public offering in New York. Ackman is launching a new investment portfolio that will be available to anyone who can invest in the United States, including retail investors. The…
(Reuters) – The U.S. Supreme Court’s ruling on Thursday scuttling OxyContin maker Purdue Pharma’s bankruptcy settlement could have a sweeping impact on how U.S. bankruptcy courts handle cases aimed at resolving sprawling litigation. Here is a look at some ongoing bankruptcy cases that could be impacted. CATHOLIC DIOCESES More than two dozen Catholic diocese have…
By Tom Hals WILMINGTON, Delaware (Reuters) – Tesla is claiming Elon Musk won his legal battle over his $56 billion pay package because shareholders voted for the compensation, despite a judge rescinding it earlier this year, according to court filing made public on Friday. The company’s filing comes two weeks after Tesla shareholders voted to…
By Hannah Lang (Reuters) – Financial regulators in 25 U.S. states announced on Wednesday a settlement with cryptocurrency investment platform Abra and its CEO for operating without required state licensing. As part of the settlement, Abra agreed to stop making cryptocurrencies available for buying and trading to U.S. Abra Trade customers as of June 15,…
(Reuters) -Amazon.com Inc hit $2 trillion in market value for the first time on Wednesday, becoming the fifth U.S. company to surpass that level as optimism around artificial intelligence and potential interest rate cuts this year drove demand for technology-related stocks. The stock rose 3.4% to $192.70, giving the e-commerce giant a market value of…
(Reuters) – American Chip manufacturing supplier Entegris said on Wednesday that it has inked a preliminary deal with the Biden administration for funding of up to $75 million to aid the development of a new facility in Colorado Springs, Colorado. “We’re not just bringing leading-edge chip technology and (factories) to the United States, we’re also…
