By Tatiana Bautzer NEW YORK (Reuters) -Morgan Stanley shareholders should vote against its proposal for executive pay at the bank’s annual meeting on May 23, according to a recommendation by influential proxy adviser Glass Lewis. Former CEO James Gorman, who is now executive chairman, was awarded $37 million by the company’s board, while his successor…
By Elizabeth Howcroft LONDON (Reuters) – Crypto company Tether has invested $200 million in Blackrock Neurotech, taking a majority stake in the U.S. brain implant company, Tether said in a statement on Monday. Blackrock Neurotech makes brain-to-computer interfaces, including neural implants which can allow people to control computers and prosthetic arms without moving, its website…
BERLIN (Reuters) – The U.S. Department of Justice has closed its probe into the Mercedes-Benz diesel emissions scandal and the car manufacturer is no longer facing charges, the company said on Saturday. Mercedes-Benz cooperated fully with the DOJ, Renata Jungo Bruengger, board member for integrity, governance and sustainability at Mercedes, said in an emailed statement….
By Selena Li and Julie Zhu HONG KONG/SHANGHAI (Reuters) -China International Capital Corp (CICC) is cutting the base pay of onshore investment bankers by as much as 25%, three sources said, in a major effort to reduce costs amid volatile markets and Beijing’s austerity drive. Some of the impacted dealmakers were notified on Friday about…
By Stephen Nellis (Reuters) – U.S. export controls on sending advanced computing chips to China are not meant to hold back China’s economy or technological development, Secretary of State Antony Blinken said during an interview with National Public Radio on Friday. Since 2022, U.S. officials have imposed sweeping controls on which computing chips can be…
(Reuters) -Apple Inc has renewed discussions with OpenAI about using the startup’s generative AI technology to power some new features being introduced in the iPhone later this year, Bloomberg News reported on Friday. The companies have begun discussing terms of a potential agreement and how OpenAI features would be integrated into Apple’s next iPhone operating…
(Reuters) -The U.S. Air Force said on Friday that it has awarded a $13 billion contract to Sierra Nevada Corp to develop a successor to the E-4B, known as the Doomsday plane due to its ability to survive a nuclear war. The Survivable Airborne Operations Center (SAOC) project is intended to replace the aging 1970s-era…
(Reuters) – Donald Trump’s allies are reported to be drafting proposals to erode the Federal Reserve’s independence if the presumptive Republican presidential nominee regains the White House, with installing loyalists at the central bank as a key element. The Fed both manages monetary policy – most notably through setting benchmark interest rates that influence the…
By Sabrina Valle HOUSTON (Reuters) -U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the…
By Abigail Summerville NEW YORK (Reuters) – General Mills, the maker of Cocoa Puffs and Cheerios breakfast cereals, is exploring a sale of its North America yogurt business including its popular Yoplait brand in a deal that could be worth more than $2 billion, people familiar with the matter said. The Minneapolis-based food conglomerate is…
