By Noel Randewich (Reuters) – Tesla shareholders approved CEO Elon Musk’s $56 billion pay package in a what was seen as an endorsement of his leadership, but the electric car maker’s stock remains richly valued even after several years of weakness in shares. Shareholders at Tesla’s annual general meeting on Thursday re-approved Musk’s 2018 record-setting compensation…
WASHINGTON (Reuters) – Republican Senator Chuck Grassley said Friday he is launching a new congressional oversight inquiry into the Federal Aviation Administration and Boeing after a January mid-air emergency involving a 737 MAX 9. The probe is the latest in a series of investigations by lawmakers since the incident. Grassley, who first probed Boeing safety…
By Karen Brettell NEW YORK (Reuters) -The dollar gained on Thursday despite a soft U.S. producer price inflation report for May, after the Federal Reserve adopted a hawkish tone at the conclusion of its meeting on Wednesday. Data on Thursday showed that U.S. producer prices unexpectedly fell in May, with the headline producer price index…
By Hyunjoo Jin, Abinaya V and Greg Roumeliotis (Reuters) -Tesla shareholders were set to approve Elon Musk’s $56 billion pay package in what is being seen as a thumbs-up to his leadership – and an enticement for keeping his focus on the electric vehicle maker. Musk posted a chart on his social media platform X…
By Sinéad Carew and Dhara Ranasinghe NEW YORK/LONDON (Reuters) – MSCI’S global equities index edged higher on Monday ahead of key inflation data and central bank policy meetings, while the euro fell after French President Emmanuel Macron called a snap election. U.S. Treasury yields were higher as investors digested Friday’s labor market data and looked…
(Reuters) – Chrysler is recalling more than 211,000 vehicles in the United States due to a software malfunction that could disable the electronic stability control system, the National Highway Traffic Safety Administration (NHTSA) said on Saturday. Due to the malfunction, the Anti-Lock Brake System (ABS) control module may disable the electronic stability control system, the…
By Chibuike Oguh NEW YORK (Reuters) -Wall Street stocks ended slightly lower on Friday in choppy trading after stronger-than-expected U.S. jobs data pointed to a robust economy but prompted worries the Federal Reserve may wait longer to cut interest rates than many investors had hoped. The U.S. economy generated about 272,000 jobs in May, far…
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) – A former Allianz fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the COVID-19 pandemic, and which according to prosecutors caused $7 billion of investor losses. Gregoire Tournant admitted to two counts of investment adviser fraud,…
By Tom Hals WILMINGTON, Delaware (Reuters) – The legal team that voided Elon Musk’s record Tesla pay package deserves a tiny fraction of the $5.6 billion legal fee they requested because their lawsuit provided almost no benefit for the company, the electric automaker argued in court papers on Friday. Tesla said the legal team for…
(Reuters) – The U.S. International Trade Commission (ITC) voted on Friday to proceed with an investigation into whether solar panels from Southeast Asia are stifling domestic manufacturing, a step that could result in tariffs on the majority of panel imports. The four-member panel voted unanimously to pursue the probe into imports from Malaysia, Thailand, Cambodia…
