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August 17, 2022

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Starbucks seeks to pause union elections at U.S. cafes, claims misconduct

Reuters
NEW YORK, Aug 15 (Reuters) – Starbucks Corp (SBUX.O) on Monday accused the federal labor board overseeing union elections at its U.S. cafes of misconduct and asked for elections to be suspended nationwide pending the outcome of an investigation. The coffee chain said in a letter to National Labor Relations......

Analysis: Why the banks financing Musk’s Twitter deal are unlikely to be able to help him walk away

Reuters
An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 5 (Reuters) – The banks that agreed to finance Elon Musk’s $44 billion acquisition of......

Analysis: World’s biggest bond markets back in vogue as recession fears mount

Reuters
LONDON, July 29 (Reuters) – One day you’re out and the next day you’re in: the world’s battered sovereign bond markets are back in favour as global recession fears mount. Government borrowing costs from Germany to France and Australia are down sharply this month, with 10-year bond yields down around......

Tesla raises spending plan, discloses new subpoena on Musk’s 2018 tweet

Reuters
Now expects to spend $6 billion to $8 billion this year Reveals $170 mln charge related to bitcoin holding Says fair value of digital assets is worth $222 mln July 25 (Reuters) – Tesla Inc (TSLA.O) has increased its capital spending plan by $1 billion, the electric automaker said in......

CEO pay gains far outpace rising wages, says U.S. union report

Reuters
July 18 (Reuters) – S&P 500 (.SPX) chief executives made $18.3 million on average in 2021, 324 times the pay of their median workers and higher than the ratio in 2020, the top American labor union federation reported on Monday. Corporate leaders’ raises far outpaced wage gains that failed to......

Judge sets first hearing in Twitter lawsuits against Elon Musk

Reuters
WILMINGTON, Del., July 15 (Reuters) – A judge will hear arguments on Tuesday for Twitter Inc’s request for a September trial in its lawsuit seeking to hold Elon Musk, the world’s richest person, to his $44 billion deal for the social media platform, according to a court filing. Kathaleen McCormick,......

Facebook-owner Meta releases first human rights report

Reuters
July 14 (Reuters) – Facebook owner Meta (META.O) released its first annual human rights report on Thursday, following years of accusations that it turned a blind eye to online abuses that fueled real-world violence in places like India and Myanmar. The report, which covers due diligence performed in 2020 and......

Analysis: Why Elon Musk’s fight with Twitter could draw further SEC scrutiny

Reuters
WASHINGTON, July 14 (Reuters) – Twitter Inc’s (TWTR.N) fight with Elon Musk to enforce his $44 billion deal to buy the social media platform could attract scrutiny from the U.S. securities regulator over whether Musk has misled the market during the course of the deal. Twitter on Tuesday asked a......

Tesla investor sues Musk, board over accusation of workplace discrimination

Reuters
June 17 (Reuters) – A Tesla Inc (TSLA.O) shareholder sued the electric car maker, Chief Executive Elon Musk and its board, accusing them of neglecting to tackle complaints about workplace discrimination and harassment, and engendering a “toxic workplace culture.” Thursday’s lawsuit is the latest against Tesla, which has been accused......

Qualcomm wins fight against $1 bln EU antitrust fine

Reuters
LUXEMBOURG, June 15 (Reuters) – U.S. chipmaker Qualcomm (QCOM.O) on Wednesday won its fight against a 997 million euro ($1.05 billion) fine imposed by EU antitrust regulators four years ago, dealing a major setback to EU antitrust chief Margrethe Vestager’s crackdown on Big Tech. The European Commission in its 2018......

India tribunal rejects Amazon appeal against suspension of deal with Future

Reuters
MUMBAI, June 13 (Reuters) – An Indian appeals tribunal on Monday rejected Amazon.com Inc’s (AMZN.O) appeal against an antitrust suspension of its $200 million investment deal with Future Group, saying the U.S. company concealed information when it sought approval in 2019. India’s antitrust agency issued the suspension in December, stating......

Elon Musk tells Tesla staff: return to office or leave

Reuters
June 1 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk has asked employees to return to the office or leave the company, according to an email sent to employees on Tuesday night and seen by Reuters. “Everyone at Tesla is required to spend a minimum of 40 hours in......

Musk sued by Twitter investors for stock ‘manipulation’ during takeover bid

Reuters
NEW YORK, May 26 (Reuters) – Billionaire Elon Musk was sued by Twitter Inc (TWTR.N) investors claiming he manipulated the company’s stock price downward, as the chief executive of electric carmaker Tesla Inc (TSLA.O) mounts a $44 billion takeover bid for the social media platform. The investors said Musk saved......

U.S. banks’ 2021 hiring show lenders are seeking talent far beyond Wall Street

Reuters
NEW YORK, May 19 (Reuters) – More than half of the new employees banks and other financial services companies hired in 2021 are based in Orlando, Dallas and other cities – far from Wall Street – as the battle for talent pushed companies to cast a wider net for candidates,......

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury

Reuters
May 18 (Reuters) – An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (.SPXESUP)because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk......

Allianz to pay $6 billion in U.S. fraud case, fund manager charged

Reuters
NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its U.S. asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the U.S. Department of......

‘Great Resignation’ sees more companies offer equity to staff

Reuters
25% of North American companies to offer share grants Over 40% of firms tracked workers’ locations amid COVID-19 Some companies will adjust pay for those working remotely April 27 (Reuters) – Companies in North America and Europe plan to give more employees an equity stake in their businesses to help......

CalPERS to vote to replace Buffett as Berkshire chairman

Reuters
April 19 (Reuters) – CalPERS, the largest U.S. public pension fund, on Tuesday said it will vote for a shareholder proposal that Berkshire Hathaway Inc (BRKa.N) replace Warren Buffett as chairman, though he would remain chief executive officer. The fund, whose full name is the California Public Employees’ Retirement System,......

Ex-U.S. Marine Reed ends hunger strike in Russian prison -agencies

Reuters
April 4 (Reuters) – Trevor Reed, a former U.S. Marine jailed in Russia, has ended a hunger strike and is being treated in his prison’s medical centre, Russian news agencies reported on Monday, citing the prison service and his lawyers. Reed, 30, from Texas, is serving a nine-year term after......

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