Money

Trending:


Lawmakers grill Microsoft president over China ties in House hearing on hacks

By Zeba Siddiqui WASHINGTON (Reuters) -Microsoft President Brad Smith testified before a House panel on homeland security on Thursday, fielding questions about its security practices and ties to China a year after Chinese hackers spied on federal emails by hacking into the tech giant. China-linked hackers stole 60,000 U.S. State Department emails by breaking into the tech giant's systems last


50 Most Expensive Small Towns in America

If you're a city dweller, you might sometimes be tempted to give up the rat race for small-town life. Sure, some of that thinking may revolve around Norman Rockwell images of quaint main streets,...


Singapore Airlines offers compensation of at least $10,000 to passengers of turbulence-hit flight

SIA will compensate passengers of the ill-fated flight SQ321, which was hit by extreme turbulence that resulted in the death of one passenger.


5 Car Brands With the Most Reliable Engines

You can argue that tires are a car's four most important safety and performance features, but all the basic components are equally critical. If one fails, the vehicle becomes unusable and costs you...


China urges EU to reverse 'wrong practices' on EV tariffs

By Liz Lee and Laurie Chen BEIJING (Reuters) -Beijing on Thursday slammed EU tariffs on Chinese electric vehicles as protectionist behaviour and said it hoped the European bloc would correct its "wrong practices" and handle trade frictions through dialogue. The reaction from China and others embroiled in the dispute, including European and Chinese car makers, points to clear opposition to the EU


8 Things You Must Buy at BJ’s Wholesale Club While on a Retirement Budget

Retirement doesn't have to mean cutting corners if you know how to shop. BJ's Wholesale Club recently made some changes that makes it even easier for retirees on a fixed income to take advantage of...


Bank fires employees over fake keyboard activity

Wells Fargo has fired a number of workers, after reviewing claims of fake keyboard activity.


5 Best Things for Your Wallet at Dollar Tree

Shopping at Dollar Tree can feel like a treasure hunt, especially when looking for great deals that don't compromise quality. Here are five fantastic items that offer excellent value for your wallet...


US manufacturing group calls for stronger protection against Chinese imports

By David Lawder WASHINGTON (Reuters) -A policy group led by the United Steelworkers union and domestic manufacturers is calling for the U.S. to enact stronger trade barriers to Chinese imports after President Joe Biden imposed steep tariffs on Chinese electric vehicles, solar panels and other strategic goods. The Alliance for American Manufacturing (AAM) on Friday published a report on China's


China's Geely expresses disappointment in EU tariff decision, vows 'necessary measures' to safeguard rights

BEIJING (Reuters) - Chinese automaker Geely on Thursday expressed "great disappointment" in the European Union's decision to increase tariffs on Chinese-made electric vehicles, vowing "all necessary measures" to safeguard its legitimate rights. "We call on the European Commission to carefully consider its decision, listen to the concerns of all parties, and work together to find a solution that


Singapore wants to revive its stock market. Could major Asian markets have the answers?

Could Singapore take lessons from Japan and South Korea's value up programs to make its exchange more attractive? Analysts weigh in.


Tyson Foods suspends CFO John R. Tyson after arrest

(Reuters) -Tyson Foods has suspended its chief financial officer, John R. Tyson, after he was arrested on charges of allegedly driving while intoxicated, the company said on Thursday. The U.S. meatpacker said Curt Calaway, a senior finance executive at the company, will take over as interim CFO. Shares of the Springdale, Arkansas-based company were down 1.5% at $53.89 in afternoon trading.


FAA was 'too hands off' in Boeing oversight before 737 MAX 9 incident

WASHINGTON (Reuters) - The head of the Federal Aviation Administration said Thursday the agency was "too hands off" in oversight of Boeing before a Jan. 5 mid-air emergency in a new Alaska Airlines 737 MAX 9. "The FAA should have had much better visibility into what was happening at Boeing before Jan. 5," said FAA Administrator Mike Whitaker at a Senate Commerce Committee hearing. He said the


Delta Pilots Make up to $447K: How That Compares to Salaries at Other US Airlines

Delta Air Lines recently gave its pilots a big pay bump. When its union finalized a new contract in 2023, pilots received an immediate 18% pay increase followed by a 5% raise in 2024, and the promise...


Tesla CEO Musk's pay package gets support from 77% of votes at investor meet

SAN FRANCISCO (Reuters) - Elon Musk's $56 billion pay package won an overwhelming 77% of votes cast by Tesla investors at its annual meeting, a company filing showed on Friday, despite vocal opposition from a number of institutional investors and proxy advisory firms. The filing did not break down the vote based on the type of investor, but it underscored the support that Musk enjoys from retail


Tesla pay fight tests power of Elon Musk's mystique

Elon Musk wants the biggest pay package in history, but will investors back the $50bn deal?


3M to transfer about $2.5 billion of US pension obligations to Met Tower Life Insurance

(Reuters) - 3M said on Thursday it would transfer about $2.5 billion of its U.S. pension payment obligations and related plan assets for nearly 23,000 U.S. retirees and beneficiaries to Metropolitan Tower Life Insurance. Met Tower Life will begin paying and administering the retirement benefits included in the transfer on Oct. 1. 3M added it expects to recognize an estimated pension settlement


FAA investigating counterfeit titanium used in some Boeing and Airbus jets, NYT reports

(Reuters) -The U.S. Federal Aviation Administration is investigating falsified documents that were used to verify the authenticity of titanium used in some recently manufactured Boeing and Airbus jets, the New York Times reported on Friday. The falsified documents are being investigated by the FAA and Spirit AeroSystems, which is a supplier to both Boeing and Airbus, NYT said in the report citing


Tesla expects to raise price of China-made cars in EU after duty increase

BERLIN (Reuters) -Tesla expects to increase the price of its Model 3 because of European Union import duties on electric vehicles (EVs) made in China, the carmaker said on its website on Thursday. The message, displayed on Tesla's website for countries including Germany, France, Ireland, Belgium and Hungary, urged prospective buyers to place their orders in June. The message did not specify the


US widens Russia sanctions in banking crackdown

The US broadens Russia sanctions, including a fresh crackdown on banks and tech.


US NTSB investigating 'Dutch roll' by Southwest Boeing 737 MAX

By David Shepardson WASHINGTON (Reuters) -The U.S. National Transportation Safety Board said on Friday it is investigating why a Boeing 737 MAX operated by Southwest Airlines rolled during a flight last month. The NTSB said the plane experienced what the crew said was a "Dutch roll" at 34,000 feet while en route from Phoenix, Arizona to Oakland, California on May 25. Such lateral asymmetric


Worst Places To Spend Your Golden Years and Where To Retire Instead

Once you retire, money takes on a brand new meaning. You become keenly attuned to every dollar of your nest egg, balancing things you may have once taken for granted while working, such as traveling,...


Fed penalizes Evolve Bank for failing to manage fintech partnership risk

By Hannah Lang and Pete Schroeder WASHINGTON (Reuters) - The Federal Reserve announced Friday it had ordered Evolve Bancorp Inc to bolster its risk management programs around fintech partnerships as well as anti-money laundering laws. The Fed said in a statement that a 2023 examination of the Arkansas-based bank found insufficient policies in place. It added that the new enforcement action,


8 Things You Must Buy at IKEA While on a Retirement Budget

Just because you are retired doesn't mean you don't want nice things for your home. In fact, you may have recently "right-sized" your house to avoid extra rooms to clean, high property taxes or a...


5 High End Supercars Under $1M for First Time Buyers

What's even better than a regular luxury sports car? It's not a bird, though it can fly down the roads with the grace of a bird of prey. It's not a plane, though it has the immaculate engineering and...


35 Useless Expenses You Need To Slash From Your Budget Now

Coming up with ways to save some extra money each month can seem impossible -- but you might be surprised by just how many unnecessary items are hiding out in your everyday expenses. Be Aware: 10...


Amazon's AWS to launch new infrastructure region in Taiwan amid rapid Asia-Pacific expansion

Amazon Web Services said it is seeking to meet "high demand for cloud services" in the Asia-Pacific region.


Musk wins pay approval but still faces Tesla's floundering stock and rich valuation

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 that backers said is


Stellantis aims to increase dividend payout next year

MILAN (Reuters) -Stellantis, the world's fourth-largest automaker, on Thursday maintained its 2024 financial forecasts and said it aimed to improve its dividend payout next year. The company, which was created in 2021 through the merger of Fiat Chrysler and of Peugeot maker PSA, will hold an investor day later on Thursday in Auburn Hills, Michigan. For 2025 the automaker will target the upper


The Price of a Cup of Coffee in Every State

Have you noticed higher prices at your local coffee shop recently? If so, it's not your imagination. Coffee prices are rising, with several coffee manufacturers citing soaring prices for coffee beans...


China's Chery Auto: EU factory will help mitigate EV tariffs

LONDON (Reuters) -Chery Auto, China's largest automaker by export volume, expects its planned production in Europe to help offset the impact of European Union tariffs on imports of China-made electric vehicles, a senior executive said on Thursday. Having local production "should help us mitigate some of the impact" of duties, Charlie Zhang, vice president of Chery Auto and president of its


Norway wealth fund to continue 'constructive dialogue' with Tesla after AGM

OSLO (Reuters) - Norway's $1.7 trillion wealth fund, a top shareholder in Tesla, will continue "a constructive dialogue" with the automaker after its annual general meeting endorsed CEO Elon Musk's $56 billion pay package. Tesla shareholders approved Musk's record pay on Thursday, a move the fund had voted against. The fund is the automaker's eighth-largest shareholder, according to LSEG data. "


US NTSB opens probe into Southwest Boeing 737 MAX in-flight event

WASHINGTON (Reuters) - The National Transportation Safety Board said Friday it is opening an investigation into a May 25 in-flight oscillation event involving a Boeing 737 MAX operated by Southwest Airlines. The NTSB said the plane experienced what was described by the crew as a "Dutch roll" at 34,000 feet enroute from Phoenix, Arizona to Oakland, California. The plane safely landed and no one


Tesco board faces heat over CEO's 10 million pound pay package

By James Davey LONDON (Reuters) - The board of Tesco, Britain's biggest supermarket group, will be asked to justify chief executive Ken Murphy's near 10 million pounds ($13 million) pay package when it faces shareholders at its annual meeting on Friday. Investors have become more vocal in their opposition to boardroom pay deals they deem excessive amid a cost of living crisis. Tesco's annual


Cheapest Places To Buy a Home in Every State

According to Zillow, the typical home value in the United States is about $350,091. Depending on the home, the state, the neighborhood, your local cost of living and the market, the amount varies...


Wells Fargo fires more than dozen employees for allegedly faking work, Bloomberg News reports

(Reuters) - Wells Fargo last month terminated over a dozen employees after reviewing allegations that they were involved in simulation of keyboard activity, creating an impression of active work, Bloomberg News reported on Thursday. The fired employees worked in the bank's wealth and investment management unit, according to the report, which cited the bank's disclosures filed with the Financial


EU sets out tariffs to tackle Chinese EV 'threat'

The decision comes after an ongoing investigation into what the EU believes is China’s "unfair subsidisation".


10 Housing Markets That Will Plummet in Value Before the End of 2024

A lot of housing markets in the United States are going up right now, but there are some that experts say are about to lose a lot of value. This could be helpful to know if you're planning a big move...


30 Cities for Renters Where Your Income Goes the Furthest

You may have seen the headline browsing through your phone. For You: Housing Market 2024: 50 Most Affordable Cities for Homebuyers Try This: Become a Real Estate Investor for Just $1K Using This...


Germany trying to prevent or soften EU tariffs on Chinese EVs, Bloomberg News says

(Reuters) - Germany wants to prevent the European Union's new tariffs on Chinese electric vehicles from coming into force or at least soften them, Bloomberg News reported on Friday. Chancellor Olaf Scholz's government has previously warned that the tariffs could hurt global trade and has talked up the prospects of the EU holding talks with Beijing towards an 'amicable' solution by early July.


7 Best Items To Buy at Sam’s Club Now for the Second Half of 2024 To Save Big Money

Q3 may not start until July 1, but the savviest shoppers are likely already thinking ahead about what to buy in bulk now that will pay off for them later in the year. The good news is there are lots...


Argentina inflation slows to 4.2% m/m in May

BUENOS AIRES (Reuters) - Argentina's monthly inflation rate stood at 4.2% in May, official data published on Thursday shows, landing below a Reuters poll forecast of 4.9% and slowing down from April's rate of 8.8%. Inflation in the 12 months through May, meanwhile, landed at 276.4%, also below a poll forecast of 279.4%. (Reporting by Aida Pelaez-Fernandez and Hernan Nessi; Editing by Valentine


Barclays asked by watchdog to review private equity exposure, source says

LONDON (Reuters) - Britain's Prudential Regulation Authority (PRA) has asked Barclays to review its exposure to leveraged finance, a source familiar with the matter said on Friday, part of an industry-wide probe into lenders' exposure to the private equity industry. The Bank of England in April said very few banks had a clear idea of their "holistic" exposures to private equity, putting them at


58 Hazardous Products That Were Recalled This Week

Foods, drugs, supplements, medical devices and other products get recalled more often than you might realize.


Boeing plane investigated after 'Dutch roll'

Air regulators are investigating new issues with Boeing planes.


Tyson Foods suspends CFO John Tyson after being arrested

(Reuters) - Tyson Foods said on Thursday that it has suspended its chief financial officer, John Tyson, after he was arrested on charges of alleged driving while intoxicated. The U.S. meat packer said that Tyson was suspended from his duties immediately, and that Curt Calaway, a senior finance executive at the company, will take over as interim CFO. Shares of the company were down 1.3% in


Unemployment rate highest for more than two years

The unemployment rate has risen to 4.4%, according to the latest government data.


Carlyle explores sale of electric power producer Cogentrix, FT reports

(Reuters) - PE firm Carlyle has hired advisers to explore a sale of Cogentrix that could value the North Carolina-based power producer at as much as $3 billion to $4 billion, the Financial Times reported, citing three people briefed on the matter. Carlyle is also selling other power assets owned by its infrastructure business in separate processes, according to the report on Friday. Interest in


Argentina markets cheer 'best day' for Milei after Senate, China boosts

By Karin Strohecker and Walter Bianchi LONDON/BUENOS AIRES (Reuters) -Argentina's markets rallied on Thursday as investors breathed a sigh of relief after the Senate passed a sprawling bill that is key to libertarian President Javier Milei's economic reform plans and renewed a currency swap loan agreement with China. The Senate win was a major boost for Milei, who won a shock election last year


Tesla to fix software in 5,836 imported cars in China, watchdog says

BEIJING (Reuters) - China's market regulator said on Friday that Tesla would fix software in 5,836 imported Model 3, Model S and Model X cars from July, citing safety issues. The action is described as a product recall under Chinese regulations, the regulator said. It was not immediately clear if drivers might need, or would be eligible, to return vehicles to Tesla for refunds. (Reporting by