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Glass Lewis joins ISS in opposing Tesla chairwoman’s re-election to board

Reuters
(Reuters) – Glass Lewis said on Thursday that it urged Tesla Inc (TSLA.O) investors to vote against re-electing Chairwoman Robyn Denholm to the company’s board, making it the second proxy advisory firm to oppose her appointment. FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica......
Reuters - Business

Glass Lewis opposes Tesla chairwoman’s re-election to Board: Bloomberg News

Reuters
FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica 2019 in Bauska, Latvia July 23, 2019. REUTERS/Ints Kalnins (Reuters) – Proxy-adviser Glass Lewis has urged Tesla Inc (TSLA.O) investors to vote against re-electing chairwoman Robyn Denholm to the company’s board due to an arrangement with......
Reuters - Business

Amazon launches Saudi Arabia shopping site despite CEO’s dispute with kingdom

Reuters
FILE PHOTO: The logo of Amazon is seen in Lauwin-Planque, northern France, April 22, 2020. REUTERS/Pascal Rossignol (Reuters) – Amazon.com Inc on Wednesday launched a website for shoppers in Saudi Arabia, showing its continued business interests there despite a public dispute between Riyadh and the company’s chief executive, Jeff Bezos.......
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S&P closes lower as new COVID-19 cases surge

Reuters
NEW YORK (Reuters) – The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery. The S&P 500 and the Dow reversed earlier gains to snap a three-day winning streak.......
Reuters - Business

Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%

Reuters
FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton NEW YORK (Reuters) – A lawyer representing a former Morgan Stanley (MS.N) diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client’s budget for promoting......
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FAA chief acknowledges agency, Boeing made mistakes on 737 MAX

Reuters
(Reuters) – The head of the Federal Aviation Administration, Steve Dickson, acknowledged on Wednesday that Boeing Co (BA.N) and the U.S. air safety agency both made mistakes on the 737 MAX jet, but rejected senators’ accusations the FAA was “stonewalling” probes after two fatal crashes. Federal Aviation Administration (FFA) Administrator......
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Americans face new coronavirus challenge: a shortage of coins

Reuters
FILE PHOTO: A stack of one cent U.S. coins depicting Abraham Lincoln is shown in this photo Illustration in Encinitas, California March 26, 2015. REUTERS/Mike Blake SAN FRANCISCO (Reuters) – Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to......
Reuters - Business

U.S. fines Copa Airlines $450K for transporting passengers between U.S., Venezuela

Reuters
A Copa Airlines plane sits in the tarmac is pictured at Tocumen International Airport after the Panamanian government restricted flights in recent days due to the coronavirus disease outbreak (COVID-19), in Panama City, Panama March 18, 2020. REUTERS/Erick Marciscano (Reuters) – The U.S. Transportation Department said on Wednesday it had......
Reuters - Business

U.S. government proposes rolling back protections for big tech

Reuters
WASHINGTON (Reuters) – The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections big tech platforms like Alphabet’s Google and Facebook have had for decades, a senior official said, following through on U.S. President Donald Trump’s bid to crack down on tech giants. FILE PHOTO:......
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House panel debating $494 billion infrastructure measure

Reuters
FILE PHOTO: An aerial photo shows the University Bridge at left and the Ship Canal Bridge I-5 heading into downtown Seattle in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson (Reuters) – A U.S. House of Representatives panel is debating on Wednesday a Democratic plan to boost infrastructure spending that......
Reuters - Business

Wall Street advances on prospect of economic rebound

Reuters
NEW YORK (Reuters) – Wall Street gained ground on Wednesday as signs of economic recovery helped investors look past spiking pandemic data and the potential of a new round of economic lockdowns. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New......
Reuters - Business

PepsiCo to drop Aunt Jemima name, criticized for racist history; Uncle Ben’s under review

Reuters
(Reuters) – PepsiCo Inc (PEP.O) will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history. Bottles of Aunt Jemima branded syrup stand on a store shelf inside of a shop......
Reuters - Business

U.S. homebuilding rises moderately; jump in permits hints at green shoots

Reuters
WASHINGTON (Reuters) – U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy. FILE PHOTO: A new apartment building housing construction site is seen in......
Reuters - Business

U.S. Justice Department to propose rolling back protections for big tech

Reuters
WASHINGTON (Reuters) – The U.S. Justice Department will propose legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet’s (GOOGL.O) Google and Facebook (FB.O) have had for decades, a department official said on Wednesday, speaking on condition of anonymity. FILE PHOTO: A 3D-printed Facebook......
Reuters - Business

FAA ‘stonewalling’ Boeing 737 MAX probe after fatal crashes: senator

Reuters
(Reuters) – The U.S. Federal Aviation Administration has been “stonewalling” senators conducting an investigation into the design and development of Boeing Co’s (BA.N) 737 MAX in the wake of deadly crashes, a top Republican senator told a hearing on Wednesday. FILE PHOTO: Steve Dickson, Administrator of the Federal Aviation Administration,......
Reuters - Business

U.S. housing starts miss expectations; permits rebound strongly

Reuters
WASHINGTON (Reuters) – U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy. FILE PHOTO: A new apartment building housing construction site is seen in......
Reuters - Business

Wall Street opens higher on hopes of swift economic recovery

Reuters
FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 11, 2020. REUTERS/Brendan McDermid (Reuters) – Wall Street’s main indexes opened higher on Wednesday, rising for a fourth straight session, as signs of more stimulus bolstered......
Reuters - Business

UK’s Supreme Court rules against Mastercard, Visa in retailers’ fees battle

Reuters
LONDON (Reuters) – Britain’s highest court on Wednesday upheld an earlier Court of Appeal ruling that credit card companies Visa (V.N) and Mastercard (MA.N) restricted competition in the way they set fees for retailers, opening the way for them to seek compensation. FILE PHOTO: A Visa credit card is seen......
Reuters - Business

Special delivery: activists urge France to rein in Amazon

Reuters
FILE PHOTO: People walk past a protest sign “Stop Amazon” during a demonstration by climate activists near the Bercy Finance Ministry in Paris, France, June 17, 2020. REUTERS/Gonzalo Fuentes PARIS (Reuters) – Environmental campaigners delivered a 12-foot (3.6-metre) tall mock-up of an Amazon parcel to the French finance ministry on......

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