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TPG, Transneft throw out jailed Russian mogul's $14 billion UK lawsuit

LONDON (Reuters) - Private equity firm TPG and Russian state-owned firms Rosatom and Transneft on Friday won their bid to block jailed tycoon Ziyavudin Magomedov's $14 billion London lawsuit over an alleged conspiracy to strip his assets. Magomedov sued the companies and several others at London's High Court, alleging his 2018 arrest on embezzlement charges prompted a Russian state-supported

2025-01-17T10:59:21Z

Codelco, Saudi in talks on copper investment, 2025 output seen up

By Pesha Magid RIYADH (Reuters) - Chile's Codelco, the world's largest copper producer, is in talks with Saudi Arabia over potential joint investments in the metal, the company's chairman told Reuters in an interview on Friday. On Codelco's output, Chairman Maximo Pacheco said the company's own production for 2025 was expected to rise by about 70,000 metric tons to around 1.4 million tons.

2025-01-17T10:59:04Z

Fitness beverage company Celsius to pay $3 million fine to settle US SEC accounting case

(Reuters) - Celsius Holdings, the fitness beverage company, will pay a $3 million civil fine to resolve charges it accounted improperly for stock-based awards, the U.S. Securities and Exchange Commission said on Friday. The SEC said Celsius mishandled its accounting in 2021 for stock-based compensation expenses when it modified awards for six departing employees and retiring board members,

2025-01-17T15:39:30Z

South Korean nuclear power plant operator agrees with US Westinghouse to end dispute, utility says

SEOUL (Reuters) - South Korea's nuclear power plant operator Korea Hydro & Nuclear Power and state utility Korea Electric Power Corp (KEPCO) have reached an agreement with United States' Westinghouse to end their intellectual property dispute, KEPCO said on Friday. They also agreed to strengthen cooperation in the global nuclear power plant market, KEPCO said in a statement. (Reporting by Joyce

2025-01-17T01:13:46Z

US consumer bureau fines Equifax $15 million over handling of consumer disputes

By Pete Schroeder (Reuters) -The U.S. Consumer Financial Protection Bureau announced on Friday it had fined credit reporting bureau Equifax $15 million for failing to sufficiently investigate consumer disputes of its credit reports. The bureau said Equifax ignored consumer documents and evidence submitted alongside disputes, allowed previously flagged inaccuracies to return to credit reports,

2025-01-17T15:34:25Z

Cost of Living in the 41 States That Don’t Tax Social Security

In a recent article, GOBankingRates broke down the 41 states in America that will not tax Social Security benefits for recipients in 2025. Currently, nine states will enter the new year still taxing benefits: Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont and West Virginia. If you’re one of the approximately 68 million Americans who receive Social Security benefits each month and looking for a state in which to settle down for your golden years, you might be better served by living in one of the 41 states that won’t tax your benefits.

2024-12-31T12:26:33Z

15 States That Could Be Heading for a Housing Crisis in 2025

Though it's too soon to know with full certainty what real estate -- and mortgage rates -- will look like in 2025, several states are currently in a position that makes them vulnerable to experiencing...

2023-03-17T13:09:32Z

Japan companies preparing for Trump tariffs, survey shows

TOKYO (Reuters) - Most Japanese companies with operations in the United States are preparing for possible additional tariffs under the incoming Trump administration, according to a survey released on Friday by the Japan External Trade Organization. Those efforts include strengthening manufacturing and procurement in the U.S. and considering product price hikes, the survey showed. It was conducted

2025-01-17T08:49:01Z

6 Sam’s Club Items To Buy To Throw a Super Bowl Party for Under $50

Just how far can a $50 budget stretch on Super Bowl-themed foods and snacks? The answer is much further than you would think if you take advantage of shopping at Sam's Club. Check Out: The Best $20...

2025-01-18T15:04:09Z

US sues Pepsi over exclusive discounts to Walmart

By Jody Godoy (Reuters) -The U.S. Federal Trade Commission sued PepsiCo on Friday for offering preferential pricing to a large retailer, whom a source familiar with the matter confirmed was Walmart. The practices fed high consumer prices by placing at a disadvantage other retailers, from large grocery chains to independent convenience stores, the FTC said. "PepsiCo strongly disputes the FTC's

2025-01-17T17:54:38Z

Here’s the Income Tax in Every State

Where you live plays a major role in how much you'll pay in state income taxes. Some states, like Alaska and Florida, don't levy individual income tax at all. Others, like California and Hawaii, have...

2024-09-10T13:27:00Z

GM agrees to 5-year ban on selling drivers' location data

WASHINGTON (Reuters) -U.S. automaker General Motors and its subsidiary OnStar agreed not to disclose sensitive vehicle geolocation and driver behavior data to consumer reporting agencies for five years, the U.S. Federal Trade Commission said on Thursday. The agency alleged the largest U.S. automaker collected, used, and sold drivers' precise geolocation data and driving behavior information from

2025-01-17T00:08:44Z

How Much The Average Retiree Takes Home in Every State

Social Security benefits, pensions, paychecks from post-retirement gigs, withdrawals from retirement accounts, annuities, CDs and bonds: they can all be a part of retirement income, which if you're...

2024-04-21T23:19:41Z

Perplexity AI bids to merge with TikTok US, CNBC reports

(Reuters) - Perplexity AI asked TikTok's Chinese parent company, ByteDance, on Saturday to allow the U.S. search engine startup to merge with TikTok U.S. and create a new entity combining them and New Capital Partners, CNBC reported. TikTok faces a U.S. ban starting on Sunday if it does not cut ties with ByteDance, although President-elect Donald Trump said on Saturday he would likely give the

2025-01-18T20:26:07Z

Tennessee Attorney General settles ESG dispute with BlackRock

(Reuters) -Republican-led Tennessee and asset manager BlackRock settled a dispute over the company's use of ESG factors in its investment decisions, according to a statement by the state's Attorney General Jonathan Skrmetti on Friday. BlackRock will increase its disclosure of proxy voting practices and has agreed to audits by a third-party service to ensure it adheres to the agreement. "The

2025-01-17T19:14:34Z

12 Most Affordable Ski Towns in the US and the Cost To Live There

There's good news for Americans with modest net worths who dream of living in a ski town. You can find a home to buy and settle down to raise a family without going into significant debt. Discover...

2025-01-18T16:18:35Z

Here’s How Much the Definition of Rich Has Changed in Every State

Wealth has changed significantly across most the United States. The median income may be $500,000 or more for those in the top 5%, depending on where you live. Check Out: Here's How Much the...

2024-04-23T13:09:43Z

Wells Fargo firms, Merrill Lynch to pay $60 million to settle SEC charges

By Chris Prentice (Reuters) -Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S. Securities and Exchange Commission charges over compliance failures, the regulator said on Friday. According to the SEC, Wells Fargo and Merrill Lynch firms failed to adopt and implement policies and procedures to consider the best interests of

2025-01-17T17:54:38Z

US FTC finalizes consent order for $53 billion Chevron-Hess merger

(Reuters) - The U.S. Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron's $53 billion takeover of Hess. According to the order, John Hess, CEO of the oil and gas producer, will be barred from joining the combined company's board over allegations that he communicated with oil producers' group OPEC during its efforts to

2025-01-17T23:49:50Z

Procter & Gamble accused of 'greenwashing' in Charmin toilet paper, lawsuit says

By Jonathan Stempel (Reuters) - A new lawsuit accuses Procter & Gamble of deceiving Charmin purchasers with misleading environmental claims, known as greenwashing, about how it sources its toilet paper. In a proposed class action on Thursday, eight consumers said Procter & Gamble obtains most wood pulp for Charmin from the Canadian boreal forest, one of the world's most important biological

2025-01-17T17:59:30Z

7 SUVs To Avoid Buying in 2025

As the car market continues to normalize after a turbulent four years of high prices and low inventory, SUVs are certain to be the overwhelming vehicle choice for drivers in the U.S. Although recent...

2024-10-26T11:30:03Z

China denies requiring companies, individuals to give data in unlawful manner

BEIJING (Reuters) - The Chinese government "has never and will never" require companies or individuals to collect data for or provide data to it in a way that violates the law, China's foreign ministry said on Friday. The ministry spoksperson was responding to a question about six Chinese companies including TikTok, Shein, Xiaomi, which have been named in a privacy complaint filed by Austrian

2025-01-17T07:43:58Z

Richest ZIP Codes in Every State

Whether you’re looking to move, settle down, retire or just want to admire mega-mansions, here's where the richest ZIP codes across the nation are located.

2024-02-22T13:21:06Z

The Gap Between the Middle Class and the Rich in Every State

The middle class has always been synonymous with having enough for a comfortable living in the United States. However, the middle class runs a wide gamut of income levels, from the average income to...

2024-09-05T12:25:18Z

Fastenal misses estimates amid sluggish demand for industrial safety products

(Reuters) - Fastenal posted fourth-quarter profit below analysts' estimates on Friday, as a sustained slowdown in construction sector dented demand for its fasteners and other safety products. Shares of the Winona, Minnesota-based company fell 5.7% in premarket trading. U.S. construction activity has slowed due to increased financing costs for big projects amid higher interest rates, hurting

2025-01-17T13:14:19Z

US auto safety regulator closes probe into nearly 7,000 Fisker electric SUVs

(Reuters) - The U.S. auto safety regulator closed its probe into 6,971 Fisker Ocean SUVs on Friday over inadvertent activation of the automatic emergency braking system, as it does not expect to get further information from the bankrupt EV maker. Fisker filed for bankruptcy protection in June, citing a hyper-competitive EV market and operational challenges that hurt its ability to stem cash burn

2025-01-17T20:19:43Z

SLB boosts dividend and buybacks after Q4 beat

By Arathy Somasekhar and Seher Dareen (Reuters) -SLB raised its quarterly dividend and accelerated share repurchases on Friday after the oilfield services provider posted better than expected fourth-quarter profit, helped by higher demand for its drilling equipment and technology. The firm increased its quarterly dividend by 3.6%, and said it would buy back $2.3 billion of shares at a faster

2025-01-17T14:24:21Z

Colonial Pipeline restarts main gasoline artery after fixing leak in Georgia

By Shariq Khan NEW YORK (Reuters) -Colonial Pipeline restarted its main gasoline artery, which delivers fuel from the U.S. Gulf Coast to East Coast markets, on Friday after it was shut earlier this week due to a leak in Paulding County, Georgia. "Colonial Pipeline safely completed repairs Friday morning on our gasoline pipeline, Line 1, in Paulding County, Ga., and returned the line to service,"

2025-01-17T19:14:41Z

Trump’s Next Trade Battle: 12 Everyday Costs That May Surge

Tariffs could push basic expenses higher. Find out which daily items may rise and how to protect your budget.

2025-01-18T21:36:41Z

Trump team plans wealth-fund revamp for federal agency, Bloomberg News reports

(Reuters) - President-elect Donald Trump's team wants the U.S. International Development Finance Corp (DFC) to function more like a sovereign wealth fund and be an effective tool for deploying economic power, Bloomberg News reported on Friday. Plans discussed for the federal agency include how it could use investments to boost U.S. influence in Panama and Greenland, the report said, citing former

2025-01-17T22:39:48Z

China kicks off subsidised auto trade-ins

BEIJING (Reuters) - China's commerce ministry kicked off subsidised auto trade-ins on Friday, extending a program likened to the U.S. "cash-for-clunkers" stimulus that had bolstered China's car sales last year. The auto trade-in subsidies were announced earlier this month as part of the expanded consumer trade-in scheme to revive economic growth. (Reporting by Beijing newsroom)

2025-01-17T10:59:05Z

US clean energy tax subsidies to cost $825 billion over 10 years, CBO says

WASHINGTON (Reuters) - U.S. clean energy tax subsidies under President Joe Biden's signature Inflation Reduction Act will boost U.S. budget deficits by $825 billion over the next 10 years, Congressional Budget Office director Philip Swagel said on Friday, far above the initial $270 billion 10-year estimate. Swagel told reporters that higher cost estimates are due in part to a different budget

2025-01-17T19:09:41Z

America’s 30 Safest and Wealthiest Retirement Towns

The rankings for America's safest and wealthiest retirement towns have arrived -- and surprisingly, no Florida locations made it into the top 30. Consider This: America's 50 Most Expensive Retirement...

2024-11-19T12:24:58Z

Colonial Pipeline restarts main gasoline artery after spill-related shutdown

NEW YORK (Reuters) - The Colonial Pipeline said on Friday it restarted its main gasoline artery, which delivers fuel from the U.S. Gulf Coast to East Coast markets, after it was shut earlier this week due to a leak in Paulding County, Georgia. "Colonial Pipeline safely completed repairs Friday morning on our gasoline pipeline, Line 1, in Paulding County, Ga., and returned the line to service,"

2025-01-17T17:54:38Z

Citadel Securities applies for securities licence in China

By Selena Li HONG KONG (Reuters) - Citadel Securities, one of the world's largest market makers, on Friday filed an application for a securities licence in China, about a year after its global CEO expressed interest in entering the market. Billionaire Ken Griffin's Citadel Securities has become the latest U.S. firm to make a foray into China while Wall Street companies closely monitor any

2025-01-17T13:14:20Z

How the Definition of Rich Has Changed in the South

Wealth is a fluid concept -- what was considered wealthy a decade ago may no longer seem as rich, thanks to inflation, increased cost of living and a myriad of other factors.

2025-01-18T13:18:35Z

China's economy meets official growth ambitions, but many feel a downturn

BEIJING (Reuters) -China's economy grew 5% last year, matching the government's target, but in a lopsided fashion, with many people complaining of worsening living standards as Beijing struggles to transfer its industrial and export gains to consumers. The unbalanced growth raises concerns that structural problems may deepen further in 2025, when China plans a similar growth performance by going

2025-01-17T05:33:56Z

Colonial Pipeline expects main gasoline artery to restart on Friday

By Shariq Khan and Nicole Jao (Reuters) -Colonial Pipeline has made progress in identifying the source of a leak on its main gasoline artery and estimates Line 1 will restart on Friday, earlier than previous expectations, the company said on Thursday. Line 1, one of two mainlines on the more than 5,500-mile (8,850-km) Colonial system, was shut on Monday night after Colonial received reports of a

2025-01-17T01:18:46Z

How Trump’s Debt Decisions Could Change Your Financial Future Forever

Trump's debt policies could drive economic shifts that hit your savings, borrowing costs, and long-term financial plans. See what's at stake and how to adapt.

2025-01-18T22:21:26Z

Walmart names supply chain executive Dave Guggina as US e-commerce chief

(Reuters) - Walmart's Executive Vice President of Supply Chain Dave Guggina will become the retailer's U.S. chief e-commerce officer, replacing Tom Ward, according to a company memo seen by Reuters on Friday. Ward will take on the role of chief operating officer of Sam's Club, Walmart's warehouse chain. In his prior role with the company, Guggina worked to implement automation in the supply

2025-01-17T17:54:40Z

SLB boosts dividend, share buybacks after quarterly profit beat

(Reuters) -SLB buoyed its quarterly dividend and boosted share repurchases on Friday after the oilfield service provider posted better-than-expected fourth-quarter profit helped by higher demand for its drilling equipment and technology. The firm raised its quarterly dividend by 3.6%, and said it has initiated an accelerated share repurchase to buy back $2.3 billion of the company's stock. "

2025-01-17T13:14:12Z

Automaker group files lawsuit to block US automatic emergency braking rule

By David Shepardson WASHINGTON (Reuters) -A group representing major automakers said on Friday it filed a lawsuit to block a landmark rule from the administration of President Joe Biden requiring nearly all new cars and trucks by 2029 to have advanced automatic emergency braking systems. The Alliance for Automotive Innovation, representing General Motors, Toyota Motor, Volkswagen and other

2025-01-17T17:54:43Z

Trump’s Treasury pick Bessent says US must keep oversight of Treasuries

NEW YORK (Reuters) - The United States should keep oversight of potential problems in the U.S. bond market, President-elect Donald Trump's Treasury Secretary pick Scott Bessent told Congress on Thursday, referring to Wall Street billionaire Howard Lutnick's plan to clear Treasury futures through a UK firm. Lutnick's BGC Group brokerage last year launched a futures exchange and plans to add U.S.

2025-01-17T00:08:43Z

Bank of America awards stock to employees after strong 2024 performance, memo shows

(Reuters) - Bank of America is set to award stock to most of its global employees for the eighth time since 2017, following a robust performance by the second-largest U.S. lender in 2024, according to an internal memo seen by Reuters on Friday. The stock awards, which will be issued in addition to year-end incentive awards, would be granted to employees earning an annual total compensation of up

2025-01-17T22:39:46Z

Starbucks to trim jobs as part of turnaround strategy, says CEO

(Reuters) - Starbucks CEO Brian Niccol said on Friday the coffee giant will cut jobs to optimize its support teams as part of the company's ongoing turnaround efforts. The details of the job cuts, to be announced by early March, will not affect the company's in-store teams or the investments it makes in store hours, he added. Niccol, the former Chipotle Mexican Grill head, who is four months

2025-01-17T22:39:48Z

'Genshin Impact' maker settles US charges of violating children's privacy

WASHINGTON (Reuters) - Cognosphere, the maker of anime-style fantasy video game "Genshin Impact," has agreed to pay $20 million and block children under age 16 from making in-game purchases without parental consent to settle U.S. Federal Trade Commission allegations that the company violated a children's privacy law. Cognosphere allegedly unfairly marketed loot boxes to children that obscured

2025-01-17T20:19:45Z

TikTok addicts see silver lining in US ban

By Greg Bensinger (Reuters) - TikTok is entering its final hours in the U.S. ahead of a potential ban effective on Sunday, prompting howls of protest from devoted users of the beloved video-streaming app. Chelsea Rossi could not be happier. The part-time real estate agent from Albany, New York, said she spends a minimum of two hours on the app each day flipping through short videos covering

2025-01-17T16:44:32Z

Argentina logs first financial surplus in 14 years in 2024

(Reuters) - Argentina brought in its first financial surplus in more than a decade in 2024, Economy Minister Luis Caputo said on X on Friday, despite the monthly data for December being in the negative. The South American nation logged a primary fiscal deficit of 1.30 trillion pesos and a financial deficit of 1.56 trillion pesos in December, Caputo said, explaining that the month typically had

2025-01-17T16:44:30Z

Sweden's Saab posts higher-than-expected 2024 organic sales growth

COPENHAGEN (Reuters) -Swedish defence equipment maker Saab expects to report 2024 organic sales growth of 23.4%, it said on Friday, above its previous outlook at the upper end of a 15-20% range. The company, which competes with defence giants such as Lockheed Martin, France's Dassault Aviation and Britain's BAE Systems, is riding an industry-wide boom in demand as rising global tensions, not

2025-01-17T13:14:15Z

5 Ways Trump Could Upend Student Loan Forgiveness

Trump's policies could reshape student debt relief and repayment options. Find out what these changes might mean for borrowers.

2025-01-18T22:06:40Z