By Tom Hals WILMINGTON, Delaware (Reuters) – A Delaware judge should recognize a vote by Tesla shareholders in favor of Elon Musk’s $56 billion pay package and reverse her January ruling that voided the compensation, the company said in a filing that was made public on Friday. In addition, Chancellor Kathaleen McCormick should not consider…
By Dietrich Knauth NEW YORK (Reuters) – Electric vehicle startup Fisker is headed towards a liquidation, attorneys said in U.S. bankruptcy court on Friday, as two creditor factions previewed a battle over which group will be paid first. Fisker filed for bankruptcy protection in Delaware on Monday after burning through cash in an attempt to…
By David Shepardson WASHINGTON (Reuters) – TikTok and Chinese parent ByteDance on Thursday urged a U.S. court to strike down a law they say will ban the popular short app in the United States on Jan. 19, saying the U.S. government refused to engage in any serious settlement talks after 2022. Legislation signed in April…
By Jessica DiNapoli NEW YORK (Reuters) -Nestle’s new food brand for people taking weight-loss drugs like Wegovy will note that the meals are high in protein, fiber and nutrients, but will not name the blockbuster medications, a company executive told Reuters. The world’s largest food maker is keeping the names of the drugs off the…
By Jonathan Stempel (Reuters) – A U.S. judge said Tesla vehicle owners can pursue a proposed class action accusing billionaire Elon Musk’s electric car company of monopolizing markets for repairs and parts, breathing new life into a lawsuit she dismissed last November. U.S. District Judge Trina Thompson in San Francisco ruled on Monday that owners…
(Reuters) – The U.S. Federal Reserve would be able to cut its benchmark interest rate once this year, Philadelphia Fed President Patrick Harker said on Monday, if his economic forecast plays out. “If all of it happens to be as forecasted, I think one rate cut would be appropriate by year’s end,” Harker said in…
By Steve Holland LUCERNE, Switzerland (Reuters) -U.S. Vice President Kamala Harris pledged America’s unwavering support for Ukraine and announced more than $1.5 billion in aid for the country’s energy sector and its humanitarian situation as a result of Russia’s 27-month invasion. Harris made the announcement at the Ukraine peace summit in Lucerne, Switzerland, where she…
(Reuters) -The Senate Committee on Health, Education, Labor, and Pensions said on Friday that Novo Nordisk CEO Lars Jorgensen has agreed to testify voluntarily in a hearing focusing on U.S. prices for weight loss drugs Ozempic and Wegovy. A U.S. Senate health panel vote that was scheduled for its June 18 meeting, to decide whether…
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…
