September 28, 2021 By David Lawder and Susan Heavey WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told lawmakers on Tuesday the government could run out of cash by Oct. 18 unless Congress acts to lift the federal debt limit in advance of the Treasury Department exhausting efforts to preserve resources. “At that point, we expect […]
Investors with $1.6 trillion in assets push Congress to back paid leave
September 28, 2021 By Jessica DiNapoli NEW YORK (Reuters) – Investors with assets worth over $1.6 trillion urged Congress on Tuesday to pass a federal paid family and medical leave policy as part of President Joe Biden’s $3.5 trillion spending plan, according to a letter viewed by Reuters. The more than 100 investors, which include […]
Exclusive-JPMorgan’s Dimon cautions a U.S. default would be ‘potentially catastrophic’
September 28, 2021 By Pete Schroeder WASHINGTON (Reuters) – JPMorgan Chase & Co has begun preparing for the possibility of the United States hitting its debt limit, Chief Executive Jamie Dimon told Reuters on Tuesday, adding he nevertheless expected policymakers to find a solution to avoid that “potentially catastrophic” event. The country’s largest lender has […]
U.S. says Chinese government blocking airplane purchases
September 28, 2021 WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said Tuesday the Chinese government is blocking its domestic airlines from buying “tens of billions of dollars” in airplanes. Raimondo said in remarks after a speech in Washington that China is not abiding by commitments to buy U.S. goods it made in 2020 as […]
Never released John Lennon recording sold for $58,300 at Danish auction
September 28, 2021 COPENHAGEN (Reuters) – A cassette tape recording of an interview with John Lennon and Yoko Ono, including a never-released song, made while they visited Denmark in 1970 sold for 370,000 Danish crowns ($58,300) at an auction in Copenhagen on Tuesday. The tape, featuring the song “Radio Peace”, was recorded on Jan. 5, […]
Canada PM Trudeau says new Cabinet to be sworn in next month, Finance Minister to stay
September 28, 2021 OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau said on Tuesday that he will swear in his new Cabinet next month, with Chrystia Freeland returning as his finance minister and deputy, after his Liberals were re-elected to their second minority mandate last week. Trudeau, speaking to reporters in Ottawa, also said the […]
U.S. FAA to deploy software to reduce airport delays
September 28, 2021 WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) said Tuesday it plans to deploy a new software capability to reduce taxi times and ramp congestion for flights at 27 airports. The FAA and NASA said the new software was tested for four years that calculates gate pushbacks at busy hub airports “so […]
Vodafone to close all proprietary stores in Spain by March, union says
September 28, 2021 MADRID (Reuters) – British mobile and broadband operator Vodafone will shut all 34 of its proprietary stores in Spain by March 2022, a labour union source said on Tuesday, as part of a wider plan to lay off over 500 workers in a hyper-competitive telecommunications sector. Arguing that customers have become more […]
Santander announces interim remuneration of 1.7 billion euros
September 28, 2021 By Jesús Aguado MADRID (Reuters) – Spain’s Santander said on Tuesday its board had decided to make an interim distribution from 2021 earnings through a cash dividend and share buyback worth 1.7 billion euros ($2 billion, equivalent to 40% of its first-half underlying profit. The announcement comes after the ECB said in […]
Here’s everything Amazon announced this morning, from smart thermostats to security robots
Amazon held an event this morning, and wow-oh-wow did they announce a lot. Smart thermostats! Flying security cameras! Robot companions! Didn’t tune in or have time to catch it all? Here’s a recap of the biggest news: Smart Thermostat Image Credits: Amazon Amazon is building a thermostat, partnering with Honeywell to get it done. It’ll […]
Founder of Chinese car maker Geely launches smartphone venture
September 28, 2021 By Josh Horwitz and Brenda Goh SHANGHAI (Reuters) – A new venture from the founder of Chinese automaker Zhejiang Geely Holding will aim to release its first smartphone by 2023 and sell 3 million units in its first year, according to a memo seen by Reuters. Geely, which owns Volvo, announced on […]
Connecticut’s Jones named WNBA Most Valuable Player
September 28, 2021 (Reuters) – Connecticut Sun forward Jonquel Jones has been named the winner of the WNBA’s Most Valuable Player award, the league said on Tuesday. Jones won the award in her fifth WNBA season after she received 48 of 49 first-place votes and 487 total points from a national panel of sportswriters and […]
Analytics firm Amplitude valued at $5 billion as shares jump in Nasdaq debut
September 28, 2021 (Reuters) – Shares of Amplitude Inc opened nearly 43% above their reference price in Nasdaq debut on Tuesday, notching up a valuation of about $5 billion for the Benchmark Capital-backed analytics company. San Francisco-based Amplitude, which confidentially filed for a direct listing in July, was valued at $4 billion after a funding […]
Unpaid by Evergrande, supplier sells Porsche and home to rescue his business
September 28, 2021 By David Kirton GUANGZHOU, China (Reuters) – Guo Hui, whose cleaning business is owed 20 million yuan ($3.1 million) by embattled real estate giant China Evergrande, is counting on the government to fix a crisis that has left his own company on the brink of bankruptcy. In the meantime, the 50-year-old known […]
Surging Treasury yields add to ARK fund’s 2021 woes
September 28, 2021 By Lewis Krauskopf NEW YORK (Reuters) – Struggles are mounting for the flagship fund of star stock picker Cathie Wood’s ARK Invest, as investors favor stocks that can benefit from rising economic growth and rising bond yields threaten the appeal of technology shares. The ARK Innovation ETF, which had $25.5 billion in […]
Amazon partners with Disney to launch voice assistant at home and resorts
September 28, 2021 (Reuters) – Amazon.com Inc on Tuesday announced a partnership with Walt Disney Co to launch an-Alexa powered voice assistant at Disney’s resorts and hotels, along with a feature that lets customers interact with Disney characters at home. (Reporting by Nivedita Balu in Bengaluru; Editing by Shailesh Kuber) Source Link Amazon partners with […]
Ready to taper or waiting for more data? Recent Fed officials’ comments
September 28, 2021 (Reuters) -The Federal Reserve has said it will start to reduce its bond purchases as soon as November if the economy continues on its current track. Some officials will watch the September jobs report, due Oct. 8, for a final bit of evidence that the labor market has achieved “substantial further progress” […]
AngelList returns to its founder-focused roots, with a twist
AngelList this week launched AngelList Stack, a new suite of products that will compete with Carta in providing services to help founders start, operate and maintain ownership over their companies. The new software will cover four bases: end-to-end incorporation, business banking, advisor equity grants and cap table management. “Every time you actually go to start […]
Puppet makes cross-Europe trek to support child refugees
September 28, 2021 GENEVA (Reuters) – A 3.5-metre (11.5 ft)-tall puppet depicting a Syrian refugee girl arrived in Geneva on Tuesday as part of an 8,000-km (4,970-mile) walk across Europe to raise awareness of the plight of young refugees. “Little Amal” — which means ‘hope’ in Arabic — started her journey on July 27 in […]
Romania’s centrist PM faces no-confidence vote on Oct. 5
September 28, 2021 BUCHAREST (Reuters) -The Romanian government of Liberal Prime Minister Florin Citu will face a no confidence vote on Oct. 5 after three parliamentary parties including a former ruling coalition partner agreed to back just one of two rival motions. USR Plus, which quit the coalition this month, the opposition ultra-nationalist AUR and […]
