BUSINESS

Citi CEO Says Sanctions Will Splinter Global Financial Order

Western countries' use of economic sanctions to punish Russia for its invasion of Ukraine is prompting some international clients of Citigroup Inc to explore new ways to conduct trade and finance, the bank's chief executive said on Monday.

Archegos Indictment Raises Fresh Questions Over Banks' Risk Management Controls

New details revealing how Archegos Capital Management founder Bill Hwang hid his fund's extreme exposure from its lenders raise fresh questions about the risk management policies at these global banks, former regulators and risk experts said.

U.S. To Spend More Than $3 Billion On EV Battery Manufacturing -White House

The Biden administration will allocate more than $3 billion in infrastructure funding to finance electric vehicle (EV) battery manufacturing, U.S. officials said on Monday.

Russia's Potanin Snaps Up Third Finance Deal Amid Ukraine Turmoil

Russian billionaire Vladimir Potanin's Interros group said on Monday it had bought United Card Services, part of Global Payments Inc, its third deal in three weeks as it snaps up financial assets from buyers exiting the Russian market.

Whole Foods Store Closings 2022: Is Your Location Being Shut Down?

Six Whole Foods stores are set to be shutdown by Amazon. Is your local store affected by the closures?

Amazon Workers Vote Against Unionizing Second Warehouse In Defeat For Organized Labor

Amazon.com Inc workers voted against unionizing a second warehouse in New York City, a ballot count on Monday showed, representing a defeat for labor organizers just weeks after celebrating their first U.S.

Vote Count Underway In Amazon's 2nd Union Election In New York With "no" Leading

The U.S. National Labor Relations Board (NLRB) on Monday began counting ballots of a union election at an Amazon.com Inc warehouse in Staten Island, New York, where labor organizers hope to build on a historic victory last month.

Israel Slams Russian Claims On Hitler Over Ukraine War

Israel slams Russian claims on Hitler over Ukraine war

Google Makes $100,000 Worth Of Tech Training Free To Every U.S. Business

Alphabet Inc's Google will provide any U.S. business over $100,000 worth of online courses in data analytics, design and other tech skills for their workers free of charge, the search company said on Monday.

Amazon To Reimburse U.S. Employees Who Travel For Abortions, Other Treatments

Amazon.com Inc, the second-largest U.S. private employer, told its staff on Monday it will pay up to $4,000 in travel expenses annually for non-life threatening medical treatments including abortions, according to a message seen by Reuters.

Aeroitalia To Expand Beyond Europe From November, President Says

Italy-based airline Aeroitalia will operate routes outside Europe from November, its non-executive president said on Monday.

Fertilizer Sector Set For Biggest Profits In Years On Russia-Ukraine Conflict

Fertilizer makers are set to post their biggest quarterly profits in years, following a supply squeeze of essential crop nutrients due to the Ukraine crisis, according to analysts.

Hedge Fund Citadel Posts Gains In April As Markets Fell

Hedge fund Citadel avoided April's stock market drop and posted gains in its most prominent strategies, easily besting the average hedge fund returns which were in the red last month.

Activision Shares Rise After Buffett Reveals Berkshire's 9.5% Stake

Activision Blizzard Inc shares rose on Monday after Warren Buffett said his company Berkshire Hathaway Inc had taken a 9.5% stake in the video game maker, which Microsoft Corp has agreed to buy for $68.7 billion.

U.S. Manufacturing Sector Slows Further; Factory Workers Quitting

U.S. factory activity grew at its slowest pace in nearly two years in April amid a rise in workers quitting their jobs, and manufacturers are becoming more anxious about supply over the summer because of new COVID-19 lockdowns in China.

Majority Of Elon Musk’s 90M Twitter Followers May Be Fake: Report

An online auditing tool suggests that 53.3% of Elon Musk's Twitter followers are "fake followers."

Wall Street Drops As Fed Focus Takes Hold, 10-yr Treasuries Breach 3%

Wall Street's main indexes dropped on Monday, giving up early gains in volatile trading, as investors adopted a cautious tinge ahead of the Federal Reserve meeting this week where policymakers are widely expected to raise interest rates.

The Auto Industry Isn't The Only One Having Chip Issues

Tech companies are not immune to the chip supply chain disruption.

EU Targets Apple Pay In Latest Big Tech Antitrust Case

The EU accused Apple on Monday of blocking rivals from its popular "tap-as-you-go" iPhone payment system, opening a fresh battlefront between the US tech giant and Brussels.

Over 59 Million Shares Reserved For Anchor Investors In LIC IPO

The IPO of Life Insurance Corporation (LIC), India's biggest insurer, has got off to a strong start, with 59.3 million shares that were set aside for anchor investors being subscribed at 949 rupees apiece, according to an exchange filing on Tuesday.

Apple Hit With EU Antitrust Charge Over Its Payment Technology

EU antitrust regulators charged Apple on Monday with restricting rivals' access to its NFC chip technology in a move that could result in a hefty fine for the iPhone maker and force it to open its mobile payment system to competitors.

Apple Hit With EU Antitrust Charge Over Mobile Payments Technology

Apple faces a possible hefty fine and may have to open its mobile payment system to competitors after EU antitrust regulators charged the iPhone maker with restricting rivals' access to its technology used for mobile wallets.

Deliveroo Backs Off Plan To Cut Pay Of UAE Delivery Riders After Strike

Delivery service Deliveroo on Monday put on hold plans to cut pay and extend working hours for its drivers in the United Arab Emirates after a rare strike over the weekend.

Deliveroo Suspends Pay Cut For UAE Delivery Riders After Rare Worker Strike

Deliveroo has suspended plans to cut rider earnings in the United Arab Emirates after a rare strike by foreign delivery workers in the Gulf Arab state over working conditions disrupted services on Sunday.

Berkshire Shareholders Look Beyond Warren Buffett, Charlie Munger

Berkshire Hathaway Inc shareholders face a question that Warren Buffett sought to tackle at the company's annual meeting: How will Berkshire fare when he's no longer around?

Bird Flu Puts Organic Chickens Into Lockdown From Pennsylvania To France

Organic and free-range chickens have been thrown into lockdown.

Google Urges Court To Scrap $1.6 Billion EU Antitrust Fine

Alphabet unit Google on Monday urged Europe's second-highest court to dismiss a 1.49-billion-euro ($1.6 billion) fine imposed by EU antitrust regulators three years ago for hindering rivals in online search advertising.

Nasdaq Says Brief European Stock Crash On Monday Triggered By Sell-side

European shares suddenly fell on Monday driven by a brief crash in Nordic markets which stock market operator Nasdaq said was traced to a single sell order.

The Longest Non-stop Flights In The World

The longest non-stop flights in the world

U.S. Stocks Gain In Seesaw Session, Benchmark Treasury Yield Hits 3% Ahead Of Fed

Wall Street ended a volatile trading day higher on Monday and benchmark U.S.