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A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsWASHINGTON, Sept 28 (Reuters) - Boeing (BA.N) has agreed to pay $8.1 million to resolve allegations it violated U.S. law by failing to comply with contractual obligations in its production of V-22 Osprey aircraft, the U.S. Justice Department said Thursday. The Osprey is a military aircraft that takes off like a helicopter and then rotates its propellers to fly like a plane. The settlement agreement, which was signed by legal representation for Boeing and the Justice Department, noted that Boeing denied the allegations it was not meeting requirements. A Boeing spokesperson said the company "entered a settlement agreement with the U.S. Department of Justice and the U.S. Navy to resolve certain False Claims Act allegations, without admission of liability."

Persons: Benoit Tessier, Kanishka Singh, Valerie Insinna, Chris Reese, Matthew Lewis, Jamie Freed Organizations: Boeing, Paris, REUTERS, Rights, U.S . Justice Department, Justice Department, U.S . Navy, U.S . Department of Justice, Thomson Locations: Le Bourget, Paris, France, Ridley Park , Pennsylvania, Washington

An advertisement promotes Tesla Autopilot at a showroom of U.S. car manufacturer Tesla in Zurich, Switzerland March 28, 2018. The lawsuit, filed against Tesla by the passengers and Lee's estate, accuses Tesla of knowing that Autopilot and other safety systems were defective when it sold the car. Tesla won a bellwether trial in Los Angeles in April with a strategy of saying that it tells drivers that its technology requires human monitoring, despite the "Autopilot" name. Tesla, for instance, won a bid to exclude some of Musk’s public statements about Autopilot. The trial, in Riverside County Superior Court, is expected to last a few weeks.

Persons: Arnd, Micah Lee’s, Lee, Tesla, Elon Musk, jousted, Dan Levine, Matthew Lewis Organizations: REUTERS, Tesla, Reuters, Riverside County Superior Court, San, Thomson Locations: U.S, Zurich, Switzerland, California, Los Angeles, Riverside County, San Francisco

☆ Meta's new AI assistant trained on public Facebook and Instagram posts
▼ + stars: | 2023-09-28 | by ( Katie Paul | ) www.reuters.com time to read: +4 min

He cited LinkedIn as an example of a website whose content Meta deliberately chose not to use because of privacy concerns. Meta AI was the most significant product among the company's first consumer-facing AI tools unveiled by CEO Mark Zuckerberg on Wednesday at Meta's annual products conference, Connect. The public Facebook and Instagram posts that were used to train Meta AI included both text and photos, Clegg said. Interactions with Meta AI may also be used to improve the features going forward, the spokesperson said. Clegg said Meta imposed safety restrictions on what content the Meta AI tool could generate, like a ban on the creation of photo-realistic images of public figures.

Persons: Mark Zuckerberg, Carlos Barria, Meta, Global Affairs Nick Clegg, We've, Clegg, Bing, Mickey Mouse, Katie Paul, Kenneth Li, Matthew Lewis, Lincoln Organizations: Meta, REUTERS, MENLO, Facebook, Reuters, Global Affairs, Google, Microsoft's, Thomson Locations: Menlo Park , California, U.S, , California

☆ Nvidia's French offices raided in cloud-computing competition inquiry -WSJ
▼ + stars: | 2023-09-28 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - France's competition authority raided Nvidia's (NVDA.O) local offices this week on suspicion the chipmaker engaged in anticompetitive practices, the Wall Street Journal reported on Thursday. The French competition authority, which disclosed the dawn raid on Wednesday, did not say what practices it was investigating or which company it had targeted, beyond saying it was in the "graphics cards sector." The French competition authority said that its operation this week followed a broader inquiry into the cloud-computing sector. The broader inquiry revolves around concerns that cloud-computing companies could use their access to computing power to exclude smaller competitors. Nvidia declined to comment, while the French competition authority did not immediately respond to a Reuters request for comment.

Persons: Dado Ruvic, Chips, Samrhitha, Max A, Shweta Agarwal, Matthew Lewis Organizations: NVIDIA, REUTERS, Wall Street, Nvidia, Big Tech, Apple, Thomson Locations: Nvidia's, France, Bengaluru, Max, San Francisco

☆ Meta's new AI chatbot trained on public Facebook and Instagram posts
▼ + stars: | 2023-09-28 | by ( Katie Paul | ) www.reuters.com time to read: +4 min

REUTERS/Carlos Barria/File Photo Acquire Licensing RightsMENLO PARK, California, Sept 28 (Reuters) - Meta Platforms (META.O) used public Facebook and Instagram posts to train its new Meta AI virtual assistant, but excluded private posts shared only with family and friends in an effort to respect consumers' privacy, the company's top policy executive told Reuters in an interview. "We've tried to exclude datasets that have a heavy preponderance of personal information," Clegg said, adding that the "vast majority" of the data used by Meta for training was publicly available. He cited LinkedIn as an example of a website whose content Meta deliberately chose not to use because of privacy concerns. Meta AI was the most significant product among the company's first consumer-facing AI tools unveiled by CEO Mark Zuckerberg on Wednesday at Meta's annual products conference, Connect. The public Facebook and Instagram posts that were used to train Meta AI included both text and photos, Clegg said.

Persons: Mark Zuckerberg, Carlos Barria, Meta, Global Affairs Nick Clegg, We've, Clegg, Bing, Mickey Mouse, Katie Paul, Kenneth Li, Matthew Lewis Organizations: Meta, REUTERS, MENLO, Facebook, Reuters, Global Affairs, Google, Microsoft's, Thomson Locations: Menlo Park , California, U.S, , California, Menlo Park, California

Some elected officials, including the Democratic governor of Menendez's state of New Jersey, have publicly urged him to step down. Sherrod Brown became the second Senate Democrat to call for Menendez to resign, saying in a statement: "Senator Menendez has broken the public trust and should resign from the U.S. Senator John Fetterman, a Pennsylvania Democrat, on Saturday urged Menendez to resign in a post on X, formerly known as Twitter. Senator Peter Welch also said he encouraged Menendez to resign because the allegations against him had "compromised his capacity" to be an "effective senator." Menendez, his wife Nadine Menendez and the businessmen are expected to appear in Manhattan federal court on Wednesday.

Persons: Bob Menendez, Nancy Pelosi, Menendez, Sherrod Brown, John Fetterman, Peter Welch, Robert Menendez, Nadine Menendez, Mike Segar, Karine Jean, Pierre, Andy Kim, Barack Obama's, Makini Brice, Doina, Steve Holland, Kanishka Singh, Scott Malone, Mark Porter, Matthew Lewis, Sonali Paul Organizations: Democratic, Former U.S . House, MSNBC, Republican, Foreign Relations, New, U.S, Democrat, U.S . Senate, Pennsylvania Democrat, Saturday, Democratic U.S, REUTERS, Prosecutors, Benz, New Jersey Democrat, Thomson Locations: Jersey, Menendez's, New Jersey, Former, Pennsylvania, Union City , New Jersey, U.S, Egypt, Manhattan, Cuba, Iran, Washington

Kevin Hodges, a partner at law firm Williams & Connolly, was the first member of Amazon's defense team identified in a court document in the case. Amazon General Counsel David Zapolsky, a 24-year veteran of the company's legal department, can turn to a stable of top outside law firms that already represent it. Thomas Barnett, co-chair of the firm’s antitrust practice and a former senior Justice Department official, was involved in the effort. A Covington spokesperson did not respond to a request for comment on whether the firm is defending Amazon in the FTC antitrust case. Amazon has also turned to U.S. law firm Paul, Weiss, Rifkind, Wharton & Garrison to navigate government scrutiny.

Persons: Jim Vondruska, Kevin Hodges, Williams, Connolly, Hodges, John Schmidtlein, David Zapolsky, Lina Khan, Thomas Barnett, Covington, Paul, Weiss, Garrison, Paul Weiss, Andrew Goudsward, Mike Scarcella, David Bario, Matthew Lewis Organizations: Amazon Logistics, REUTERS, U.S . Federal Trade, Amazon.com, Amazon, Williams, U.S . Justice, Microsoft, BP, Big Tech, Alphabet's, Google, FTC, Burling, Department, D.C, Covington, Thomson Locations: Chicago . Illinois, U.S, WASHINGTON, Washington, Mexico, Covington, Rifkind, Wharton

More than 9 million merchants sell their wares on Amazon's marketplace and also supply it with steady streams of revenue. Amazon collects advertising fees for touting their products, fulfillment fees for delivery in addition to less specific "sellers' fees." Some merchants welcome the potential of relaxed seller and advertising charges, while others worry that completely dissolving Amazon's advertising services would harm their ability to reach shoppers. The FTC found that the company's fulfillment fees increased approximately 30% between 2020 and 2022. Dieterle relies on Amazon's fulfillment and advertising services to boost merchandise sales.

Persons: Mike Segar, Rick Dieterle, Dieterle, Lindsay Windham, Bryan Croft, Croft, Big, Jason Hince, Hince, Stacy Mitchell, Arriana McLymore, Matthew Lewis 私 Organizations: REUTERS, Rights, Merchants, U.S . Federal Trade, Big Tech, Amazon, FTC, Taco Brands, Union, HC Brands, Big Crazy Buffalo, Facebook, Google, Big, Institute for Local Locations: Manhattan, New York City, Rights RALEIGH, North Carolina, Buffalo, Raleigh , North Carolina

☆ Biden vs. Trump in Michigan: Views on unions, the UAW auto strike
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +3 min

U.S. President Joe Biden salutes as he departs Joint Base Andrews for Michigan where he will join striking members of the United Auto Workers on the picket line, in Maryland, U.S., September 26, 2023. REUTERS/Evelyn Hockstein Acquire Licensing RightsSept 26 (Reuters) - U.S. President Joe Biden and 2024 Republican front-runner and former President Donald Trump both travel to Michigan this week to talk to local auto industry workers, as a United Auto Workers' strike spreads around the country. JOE BIDEN: SHARE THE PROFITSMichigan trip: Biden is expected on a UAW picket line in Wayne County, where he will meet with UAW President Shawn Fain. Michigan message: Biden is expected to side with striking workers and urge the companies to share their record profits with workers. As president: Trump lowered taxes for U.S. companies including the auto giants and appointed people to the National Labor Relations Board who unions say weakened protections for workers.

Persons: Joe Biden, Evelyn Hockstein, Donald Trump, JOE BIDEN, Biden, Shawn Fain, Fain, ” DONALD TRUMP, Trump, Nandita Bose, Nathan Layne, Heather Timmons, Matthew Lewis Organizations: Base Andrews, United Auto Workers, REUTERS, Republican, Biden, Democrat, Trump, U.S, UAW, Drake Enterprises, National Labor Relations Board, Truth, Thomson Locations: Michigan, Maryland, U.S, Wayne County, United States, Detroit, Washington, Wilton , Connecticut

"With its missionary zeal for consumers, Amazon has marched toward monopoly by singing the tune of contemporary antitrust," Khan, then 29, wrote in the Yale Law Journal. Six years later, Khan, who became the FTC's chair in 2021, is leading the agency's antitrust charge against the online retailer. The FTC's lawsuit filed on Tuesday asks a court to consider forcing the company to sell assets to stop what it said was ongoing harm to consumers. Amazon has fought back and rejected the antitrust lawsuit filed on Tuesday. "By contrast, the FTC's 2021 budget topped out at only $351 million, or slightly more than 1% of Amazon's earnings."

Persons: Lina M, Khan, Bill Nelson, Graeme Jennings, Lina Khan, Andy Jassy, Jeff Bezos, Bezos, David Shepardson, Matthew Lewis Organizations: Commerce, Science, NASA, Capitol, Rights, Federal Trade, Amazon.com, Amazon, Yale Law, FTC, Apple, Facebook, Google, Thomson Locations: Washington , U.S, United States, Washington

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, February 20, 2017. The FTC said that it was asking the court to issue a permanent injunction ordering Amazon.com to stop its unlawful conduct. Other allegations include that Amazon gave preference to its own products on its platforms over competitors also on the platform. During the Trump administration which ended in 2021, the Justice Department and FTC opened probes into Google, Facebook, Apple and Amazon. The FTC sued Facebook during the Trump administration and Biden's FTC has pressed forward with the lawsuit.

Persons: Pascal, Lina Khan, Khan, Trump, Republican Donald Trump, Joe Biden, Diane Bartz, Chris Sanders, Matthew Lewis, Nick Zieminski Organizations: REUTERS, Rights, U.S . Federal Trade Commission, Amazon.com, Amazon, Alphabet's, Google, Facebook, FTC, The Yale Law, Apple, Big Tech, Republicans, Justice Department, The, Republican, Democratic, Thomson Locations: Lauwin, France, Seattle

U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Bellville, Wayne County, Michigan, September 26, 2023. Democrat Biden traveled to a Belleville, Michigan, parts distribution center owned by General Motors (GM.N), and joined dozens of picketers outside. Auto company sources said Biden's support for a 40% pay hike may make it harder to reach a compromise with the UAW. Calling Biden's visit a "historic moment in time," Fain accused CEOs of taking the profits and leaving workers to "fight for scraps." Biden's Michigan visit represents the most support a sitting president has shown striking workers since Theodore Roosevelt invited striking coal workers to the White House in 1902, historians said.

Persons: Joe Biden, Evelyn Hockstein, Donald Trump, Democrat Biden, Biden, you've, Trump, Tesla, Elon Musk, autoworkers, Shawn Fain, Fain, Biden's, Dave Urban, Ronald Reagan, Jason Miller, Theodore Roosevelt, Jeff Mason, Nandita Bose, Jarrett Renshaw, Nathan Layne, David Shepardson, Heather Timmons, Nick Zieminski, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Tuesday, Republican, Democrat, General Motors, Companies, U.S, Auto, Biden, Twitter, Secret Service, Drake Enterprises, AFL, EV, Trump, GM, Ford, Chrysler, Detroit, Washington, Democratic, Michigan, White House, Thomson Locations: Bellville, Wayne County , Michigan, Rights BELLEVILLE , Michigan, Michigan, Belleville , Michigan, Detroit, U.S, Pennsylvania, Wisconsin, Biden's Michigan, Washington, Philadelphia, Wilton , Connecticut

☆ Amazon.com faces an array of US consumer, state antitrust lawsuits
▼ + stars: | 2023-09-26 | by ( Mike Scarcella | ) www.reuters.com time to read: +5 min

In the California case, Judge Ethan Schulman in San Francisco Superior Court in March ruled against Amazon's bid to dismiss the lawsuit. CONSUMERS' PRICE INFLATION CLAIMSAmazon faces a pair of consumer lawsuits in Seattle federal court. The consumer plaintiffs, Chun wrote, "allege the type of conduct that antitrust law is intended to prevent." E-BOOKSIn Manhattan federal court, a prospective class action from consumers accuses Amazon of artificially inflating the price of retail trade e-books on the site. U.S. District Judge Gregory Woods has not yet ruled on objections from Amazon and the plaintiffs to Figueredo's report and recommendation.

Persons: Benoit Tessier, Rob Bonta, Ethan Schulman, Amazon's, Schulman, Richard Jones, Jones, John Chun, —, Chun, Ricardo Martinez, Valerie Figueredo, Gregory Woods, Mike Scarcella, Chris Sanders, Matthew Lewis Organizations: REUTERS, U.S . Federal Trade Commission, Amazon.com, Big Tech, FTC, GENERAL, District of Columbia, Walmart, Costco, Amazon, San Francisco Superior Court, District, U.S, Thomson Locations: Bretigny, Paris, France, CALIFORNIA, WASHINGTON, GENERAL California, District, Washington ,, California, Columbia, San Francisco, Seattle, U.S, Maryland, Manhattan, Washington

☆ Brazil's central bank employees escalate protests over career demands
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Sept 25 (Reuters) - Brazil's central bank employees said on Monday they would intensify work stoppages in protest of the government's alleged failure to address career improvement demands, a move that will impact the development of new initiatives at the bank. The National Union of Central Bank Employees (SINAL) said in a statement that this phase of the protest is expected to affect the timeline for launching the Brazilian central bank's digital currency, DREX, initially slated for late 2024. The central bank said it would not comment on the matter. Central bank authorities have been emphasizing the introduction of installment-based payments. The employees are advocating for central bank analysts to be treated as auditors, ensuring they receive compensation tied to productivity, similar to federal revenue auditors.

Persons: Marcela Ayres, Matthew Lewis Organizations: National Union of Central Bank Employees, Thomson Locations: BRASILIA, Central, Brasilia

☆ US thermal coal exports jump to 5-year highs on Asian demand: Maguire
▼ + stars: | 2023-09-25 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +4 min

But the strong exports pace also highlights the enduring demand for U.S. coal even as domestic power producers steadily reduce coal's share of the power generation mix. TOP MARKETSAsia accounted for 48% of total U.S. exports, or around 10.6 million tonnes, with 7 million tonnes going to India, 1.3 million tonnes to Japan, 1.1 million tonnes to China and 600,000 tonnes to South Korea. Europe accounted for 26.6% of U.S. exports, with the Netherlands the second-largest buyer overall with 3.2 million tonnes of imports. Elsewhere, Egypt (1.9 million tonnes), Morocco (1.0 million tonnes) and the Dominican Republic (662,000 tonnes) were other large buyers, underscoring a wide geographic span of markets for U.S. coal so far in 2023. In addition, some major coal producers, including China, may increase coal exports over time even as power producers there follow the U.S. lead and reduce coal use in their own generation mixes.

Persons: Gavin Maguire, Matthew Lewis Organizations: Total U.S, U.S, Reuters, Thomson Locations: LITTLETON , Colorado, United States, China, India, South Korea, Kpler, Indonesia, U.S, Japan, Europe, Netherlands, Germany, Spain, Poland, Egypt, Morocco, Dominican Republic, Philippines, Littleton , Colorado

☆ Workers with Canadian union Unifor vote in favor of Ford contract
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: 1 min

Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowSept 24 (Reuters) - Canadian labor union Unifor said on Sunday its members had voted to ratify a new contract with Ford Motor (F.N), a relief for the Detroit automaker locked in a separate tussle with its U.S. union over demands for better pay and benefits in the country. Reporting by Nathan Gomes and Mrinmay Dey in Bengaluru Editing by Pooja Desai and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Wolfgang Rattay, Unifor, Nathan Gomes, Mrinmay Dey, Pooja Desai, Matthew Lewis Organizations: REUTERS, Ford, Ford Motor, Detroit, Thomson Locations: Frankfurt, Germany, Bengaluru

☆ Chile raises alert for Villarrica volcano to amber
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: 1 min

A general view of the Villarrica volcano seen from Villarrica area, Chile, December 1, 2022. REUTERS/Ivan Alvarado/File Photo Acquire Licensing RightsSept 24 (Reuters) - Chile's National Geology and Mining Service, Sernageomin, on Sunday raised the alert level for the Villarrica volcano from yellow to amber, citing a gradual increase in volcanic activity. One of South America's most active volcanoes, Villarrica has a 200 meter-wide open crater and last erupted in 2015, sparking a mass evacuation but ultimately no injuries. An amber alert means there is a greater probability that an eruption will take place in the coming days or weeks. Reporting by Oliver Griffin in Bogota Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Alvarado, Oliver Griffin, Matthew Lewis Organizations: REUTERS, Mining Service, Thomson Locations: Chile, Bogota

☆ French centre-right keeps control of Senate, far-right wins three seats
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +2 min

[1/3] French Senate President Gerard Larcher arrives to attend a state dinner in honor of Britain's King Charles and Queen Camilla at the Chateau de Versailles (Versailles Palace) in Versailles, near Paris, on the first day of their State visit to France, September 20, 2023. REUTERS/Hannah McKay/File Acquire Licensing Rights Read morePARIS, Sept 24 (Reuters) - France's centre-right Les Republicains (LR) party maintained its majority in the Senate after Sunday's vote, in which three senators from Marine Le Pen's far-right party were elected. The Senate is indirectly elected by France's mayors as well as regional, departmental and municipal councillors. Le Pen's Rassemblement National had been widely expected to make a new breakthrough in the Senate but the score of three wins was above expectations. Under France's Fifth Republic, the Senate has less influence over legislating than the National Assembly, the lower house of parliament.

Persons: Gerard Larcher, Britain's King Charles, Queen Camilla, Hannah McKay, Les Republicains, Le Pen's, Sonia Backes, Emmanuel Macron's, Macron, Michel Rose, Sybille de La, Matthew Lewis Organizations: Chateau, REUTERS, State, France's Fifth, National Assembly, Socialist, Thomson Locations: Versailles, Paris, France, PARIS, Marine, Rassemblement, New Caledonia, France's Fifth Republic

Biden is running for re-election in 2024 and will likely face Trump, who is the frontrunner for the Republican presidential nomination. "The only reason Biden is going to Michigan on Tuesday is because President Trump announced he is going on Wednesday," the Trump campaign said in a statement late on Friday. Trump has called for rank-and-file union workers to ignore their leaders. United Auto Workers President Shawn Fain blasted Trump earlier in the week, saying the union was "fighting the billionaire class and an economy that enriches people like Donald Trump at the expense of workers." Workers on the picket lines had mixed feelings over whether Biden should visit.

Persons: Joe Biden, Jonathan Ernst, Biden, Donald Trump, I’ll, Trump, Jeremi Suri, Jimmy Carter, Biden's, CLASS, Shawn Fain, Theodore Roosevelt, Suri, Roosevelt, Henry Cabot, “, Laura Zielinski, ” Thomas Morris, Morris, Heather Timmons, Jeff Mason, Ben Klayman, David Gaffen, Kanishka Singh, Jarrett Renshaw, Matthew Lewis, Nick Zieminski, Alistair Bell, Timothy Gardner Organizations: Motors, REUTERS, WASHINGTON, United Auto Workers, Detroit, UAW, Republican, Friday, General Motors, Chrysler, Ford Motor, University of Texas, Washington, CLASS Trump, White House, Department of Labor, Workers, Thomson Locations: Detroit , Michigan, U.S, TOLEDO , Ohio, Michigan, United States, Austin, Detroit, Toledo , Ohio, Toledo, Philadelphia, Washington, New York

UAW President Shawn Fain, in a Facebook live event, said that by targeting distribution centers the strike becomes a nationwide event. Stellantis has said it wants to be able to consolidate and close some of its parts distribution centers. Nearly 13,000 UAW workers walked out at plants in Missouri, Michigan and Ohio on Sept 15. "GM and Stellantis are looking at stockholder value and Ford is looking a lot more long-term that they have to make friends with labor." Fain said on Friday that the union had negotiated the elimination of lower wage tiers in some components facilities at Ford and GM.

Persons: Fain, Shawn Fain, Joe Biden, Biden, Donald Trump, Thomas Morris, Stellantis, Phaedra Grant, Michael Swensen, Ford, Daniel Ives, Sam Fiorani, Ford's, David Shepardson, Joseph White, Jarrett Renshaw, Ben Klayman, Peter Henderson, Abhirup Roy, Jeff Mason, Nick Zieminski, Matthew Lewis Organizations: GM, Ford, United Auto Workers, Detroit, General Motors, Chrysler, UAW, REUTERS, Ford Bronco, Chevrolet, AutoForecast Solutions, Reuters, Thomson Locations: DETROIT, United, Michigan, California, Massachusetts, Oregon, Florida, Philadelphia, Langhorne , Pennsylvania, Kokomo , Indiana, Kokomo, Louisville , Kentucky, U.S, Missouri , Michigan, Ohio, Chevrolet Colorado, Washington, Detroit, San Francisco

Sept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Deutsche declined to comment, while Barclays did not immediately respond to requests for comment. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.

Persons: Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: San Francisco, Americas, New York

☆ Dollar up as data highlights US economic resilience; yen slumps
▼ + stars: | 2023-09-22 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The data comes on the heels of disappointing data from Europe, which showed that economic activity in France fell much more quickly than expected in September. Separate survey data covering the whole euro zone showed that the economy likely contracted in the third quarter. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. BOJ maintains ultra-low interest ratesMeanwhile, sterling was 0.47% lower at $1.2237 after data showed that the UK economy slowed sharply in September and is likely on the brink of recession.

Persons: Florence Lo, Michael Brown, Brown, Michelle Bowman, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, BoE, Saqib Iqbal Ahmed, Harry Robertson, Rae Wee, Sharon Singleton, Matthew Lewis Organizations: U.S, REUTERS, P Global, Federal, Trader, Federal Reserve, Bank of Japan, Asia FX, RBC Capital Markets, Bank of England, Thomson Locations: United States, U.S, Europe, France, Asia, Tokyo, New York, London, Singapore

☆ Biden visit to UAW strike would be historic move by US president
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +4 min

The UAW on Friday invited Biden to visit workers on its picket lines, and said that it would expand its Detroit strike to parts distribution centers across the United States at General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI). "It’s very rare for a president to visit strikers," said Jeremi Suri, a historian and presidential scholar at the University of Texas at Austin. The White House said the president appreciates the UAW invitation, saying Biden will continue to fight for workers, but but did not immediately commit to visiting the strikers. Biden said the automakers should "go further to ensure record corporate profits mean record contracts for the UAW," echoing sentiments by union leaders. Workers on the picket lines had mixed feelings over whether Biden should visit.

Persons: Joe Biden, Jonathan Ernst, Biden, Jeremi Suri, Jimmy Carter, Biden's, Donald Trump, Trump, Shawn Fain, Theodore Roosevelt, Suri, Roosevelt, Henry Cabot Lodge, “, Laura Zielinski, Heather Timmons, Ben Klayman, David Gaffen, Matthew Lewis, Nick Zieminski Organizations: Motors, REUTERS, WASHINGTON, United Auto Workers, UAW, Friday, Detroit, General Motors, Chrysler, Ford Motor, University of Texas, Washington, Trump, White House, Massachusetts, Department of Labor, Workers, Thomson Locations: Detroit , Michigan, U.S, TOLEDO , Ohio, United States, Austin, Detroit, Toledo , Ohio, Toledo, Washington, New York

UAW President Shawn Fain, in a Facebook live event, said that by targeting distribution centers the strike becomes a nationwide event. Fain said Ford had improved its contract offer, including boosting profit sharing and agreeing to let workers strike over plant closures but said the union still has "serious issues" with Ford. Nearly 13,000 UAW workers walked out at plants in Missouri, Michigan and Ohio on Sept 15. "GM and Stellantis are looking at stockholder value and Ford is looking a lot more long-term that they have to make friends with labor." Fain said on Friday that the union had negotiated the elimination of lower wage tiers in some components facilities at Ford and GM.

Persons: Phaedra Grant, Michael Swensen, Biden, Fain, Shawn Fain, Ford, Stellantis, Joe Biden, Karine Jean, Pierre, Shawn Fain's, Donald Trump, Daniel Ives, Sam Fiorani, Ford's, Mark Reuss, David Shepardson, Joseph White, Ben Klayman, Peter Henderson, Abhirup Roy, Jeff Mason, Nick Zieminski, Matthew Lewis Organizations: Ford, UAW, REUTERS, GM, United Auto Workers, Detroit, General Motors, Chrysler, Ford Bronco, Chevrolet, AutoForecast Solutions, Reuters, Republican, Detroit automakers, Thomson Locations: Louisville , Kentucky, U.S, DETROIT, United, California, Massachusetts, Oregon, Florida, Kokomo , Indiana, Kokomo, Michigan, Missouri , Michigan, Ohio, Chevrolet Colorado, Washington, Detroit, San Francisco

"Stellantis and GM in particular are going to need some serious pushing," Fain said Friday. Fain said Ford had improved its contract offer, including boosting profit sharing and agreeing to let workers strike over plant closures but said the union still has "serious issues" with Ford. "This is like union 101 in terms of divide and conquer, and put more pressure on GM and Stellantis," Ives added. GM, Ford and Stellantis have said they are making contingency plans for further U.S. work stoppages. Unifor, which represents about 5,600 Canadian auto workers, had been threatening to go on strike at all three Ford plants in the country.

Persons: Phaedra Grant, Michael Swensen, Biden, Fain, Shawn Fain, Stellantis, Joe Biden, Donald Trump, Ford, Daniel Ives, Ives, Karine Jean, Pierre, Mark Reuss, David Shepardson, Joseph White, Ben Klayman, Peter Henderson, Jeff Mason, Matthew Lewis, Nick Zieminski Organizations: Ford, UAW, REUTERS, Ford Union, GM, United Auto Workers, Detroit, General Motors, Chrysler, Ford Motor, Silverado, Ford Bronco, Chevrolet, Reuters, Biden, Republican, White, Detroit automakers, Thomson Locations: Louisville , Kentucky, U.S, DETROIT, United, California, Massachusetts, Oregon, Florida, Kokomo , Indiana, Kokomo, Michigan, Missouri , Michigan, Ohio, Chevrolet Colorado, Washington, Detroit, San Francisco

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