(Reuters) – Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which if passed would be the largest pay package for a CEO in corporate America. The report cited reasons like the “excessive size” of the pay deal,…
By Dan Peleschuk KYIV (Reuters) -President Volodymyr Zelenskiy appealed to U.S. President Joe Biden and Chinese leader Xi Jinping on Sunday to attend his peace summit as Ukraine struggles to stave off unrelenting attacks by Russia in its 27-month-old invasion. Ukraine hopes to host as many countries as possible at Kyiv-led talks in Switzerland next…
By Patrick Wingrove (Reuters) -Eli Lilly said on Friday it has invested another $5.3 billion in its new Lebanon, Indiana manufacturing plant, more than doubling its previous investment, as it scrambles to meet soaring demand for its weight-loss and diabetes drugs. The new investment, which brings the total to $9 billion, will help boost production…
(Reuters) – Russian President Vladimir Putin said on Friday that Ukrainian President Volodymyr Zelenskiy had no legitimacy following the expiry of his five-year term and this would raise a legal obstacle if Russia and Ukraine were to resume peace talks. With Ukraine still under martial law in the third year of Russia’s full-scale invasion, Zelenskiy…
(Reuters) – Walmart has ended its agreement with Capital One Financial, which was the exclusive issuer of Walmart consumer credit cards, the companies said on Friday. The world’s largest retailer had previously accused Capital One of being too slow to post many transactions to cardholders’ accounts, and failing to promptly replace many lost cards. The…
(Reuters) -Citigroup has asked its 600 U.S. employees, who are eligible to work remotely, to return to office fulltime, it said on Friday as regulatory requirements make it hard for Wall Street banks to allow offsite work for roles such as trading. Regulators had eased some of the stringent requirements to allow traders the flexibility…
By David Randall NEW YORK (Reuters) – The typical summer slowdown in U.S. stock markets may be more pronounced this year with inflation jitters and an early presidential debate that have the potential to weigh on a rally that has pushed the S&P 500 near record highs in recent months. The S&P 500 is up…
WASHINGTON (Reuters) – The U.S. Trade Representative’s (USTR) office on Friday announced a further extension of all China Section 301 tariff exclusions on 352 Chinese import and 77 pandemic-related categories through June 14, and said some would be extended through May 31, 2025. WHY IT’S IMPORTANT The administration of former President Donald Trump used Section…
SHANGHAI (Reuters) – Tesla has cut output of its best-selling Model Y electric car by a double-digit percentage number at its Shanghai plant since March, according to industry data and a source. The move is aimed at addressing weakening demand for the U.S. automaker’s aged model in China, its second largest market into which a…
(Reuters) – Blackstone CEO Stephen Schwarzman will support Donald Trump as the former president looks to return to the White House, Axios reported on Friday. Schwarzman, one of the biggest political donors on Wall Street, plans to donate to Trump and various Republican Senate candidates, the report said, citing a statement from the CEO. Long…
