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☆ Ola plans $920 mln India investment in electric cars, batteries
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

CHENNAI, Feb 18 (Reuters) - SoftBank Group-backed (9984.T) Ola Electric would invest $920 million in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), a state government statement said on Saturday. Ola will invest 76.14 billion rupees ($920 million) through its subsidiaries Ola Electric Technologies and Ola Cell Technologies, drawn to the growing demand for EVs in India. The company's cumulative production numbers topped 100,000 in November, and it plans to annually make 140,000 cars and hire 3,111 workers in Tamil Nadu through the new investment. In September, Ola said it was looking to expand into Latin America, ASEAN and European Union countries after entering India's neighbour Nepal first. ($1 = 82.7500 Indian rupees)Reporting by Praveen Paramasivam in Chennai; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Chevron Weighs Extending CEO Mike Wirth Past Mandatory Retirement Age
▼ + stars: | 2023-02-13 | by ( Collin Eaton | Christopher M. Matthews | ) www.wsj.com time to read: 1 min

Chevron Corp.’s board of directors is considering waiving the company’s mandatory retirement age for Chief Executive Mike Wirth , a move that would allow him to remain CEO for a longer period, people familiar with the matter said. Some board members have said the San Ramon, Calif., oil company doesn’t have an internal candidate ready to succeed Mr. Wirth, who would reach the company’s fixed retirement age of 65 in late 2025, and that additional time would allow him to prepare a successor. The board members have also said they see no reason to push out an executive who has performed well, the people said.

☆ Chevron’s CEO short-termism has benefits
▼ + stars: | 2023-02-13 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

That helps explain why the $330 billion oil giant is considering extending his contract beyond mandatory retirement age, according to the Wall Street Journal. Wirth faces mandatory retirement in 2025 when he turns 65, a stipulation that was in place when the company appointed him to be CEO in 2018. Chevron's operating margin last year was 18%, the highest in four decades, and the firm earned a record $35 billion. A year later, after oil prices had fallen by a third, Wirth launched a deal to buy Noble Energy on the cheap. If so, oil companies will be well served by executives who can squeeze additional pennies out of existing production, while buying potentially available rivals when they are cheap.

☆ Top 10 things the Club is watching in the stock market Monday: Stocks look mixed, dueling Disney notes
▼ + stars: | 2023-02-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Club holding Caterpillar (CAT) downgraded to neutral (hold) at Baird; price target cut to $230 per share from $290. Disney (DIS), a Club stock, price target is lowered to $130 per share from $145 at Citi; keeps a buy rating following last week's solid earnings and restructuring announcement. Merck (MRK) price target is increased to $125 per share from $120 at Credit Suisse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Winner: TD Bank The TD Bank Convenience Checking Account makes it easier to waive monthly service fees than Chase Total Checking®. Interest rates are variable and subject to change Minimum Deposit Amount $0 View Full Details Learn moreChase Savings℠ 3.25 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.25 out of 5 Stars Annual Percentage Yield (APY) 0.01% effective as of 10/10/2022. Winner: TD Bank TD Bank CDs require a much lower minimum opening deposit than Chase CDs. TD Bank vs. Chase Trustworthiness and BBB RatingsWe include ratings from the Better Business Bureau to evaluate how a bank deals with customer issues. The BBB also gave TD Bank an B rating because government action was taken against the TD Bank.

Read our review Read Our Review A looong arrow, pointing rightCiti vs. Bank of America vs. Chase Ssavings Account ComparisonsSee how Citi, Bank of America, and Chase savings accounts compare. Citi® Accelerate Savings Bank of America Advantage Savings Account Chase Savings℠ APY 3.85% (vary by location) 0.01% to 0.04% 0.01% effective as of 10/10/2022. Winner: Bank of America and Citi Bank of America and Citi tie in this category because their savings accounts stand out for different reasons. Citi Fixed Rate CD 3.25 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.25 out of 5 Stars Annual Percentage Yield (APY) 0.05% to 4.15% Minimum Deposit Amount $500 View Full Details Learn moreCiti Fixed Rate CD 3.25 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.25 out of 5 Stars Annual Percentage Yield (APY) 0.05% to 4.15% Minimum Deposit Amount $500 View Full Details Learn more at Citi's secure site. Which bank of the three, Citi, Bank of America, or Chase, is the safest?

During the pandemic, mortgage rates plummeted below 3%, flooding the real estate market with homebuyers trying to snag a good rate. "Mortgage rates have trended down in the past couple of months," he says. So... [for] someone waiting for a 3% or 4% mortgage rate, it's not going to happen." For example, Rocket Mortgage is currently offering a mortgage rate buydown program called Inflation Buster. Evaluate whether you're buying for the right reasons and determine if you and your budget are ready for this important milestone.

That's a lengthier list of travel insurance than you're going to find on just about any other no-annual-fee credit card. The Ink Business Cash® Credit Card is also one of the few no-annual-fee credit cards that offer primary rental car insurance (when renting for business purposes). Review: Chase Ink Business Cash Credit Card reviewBest no annual fee travel credit cards frequently asked questions (FAQ)Are no annual fee travel credit cards worth it? What is the best no annual fee credit card for international travel? From the above list, the best credit card for international travel is likely to be the IHG® Rewards Traveler Credit Card for a couple of reasons.

☆ Russia's war on Ukraine latest: Russian forces said to make progress in Bakhmut
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] Protesters gather in support of Ukraine during a meeting of European Union (EU) Foreign Ministers in Brussels, Belgium January 23, 2023. ARMAMENTS* The United States and Germany are poised to boost Ukraine's war effort with the delivery of heavy tanks, sources said, support that Russia condemned as a "blatant provocation". * The United States is poised to start a process that would eventually send dozens of M1 Abrams battle tanks to Ukraine, two U.S. officials told Reuters. * Norway is considering whether to send some of its German-made Leopard 2 tanks to Ukraine, Oslo-based newspapers Aftenposten and Dagens Naeringsliv reported. * A delivery of tanks by the United States to Ukraine would be a "another blatant provocation" against Russia, Anatoly Antonov, Russia's ambassador, said.

☆ 92% of millennial homebuyers say inflation has impacted their purchase plans, but most are plowing ahead anyway, study shows
▼ + stars: | 2023-01-25 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

The typical first-time buyer was age 36 in 2022, up from age 33 in 2021, according to the National Association of Realtors. The combination of year-over-year double-digit price jumps for much of 2022 and rising mortgage rates created an affordability problem for many buyers. The average for a 30-year fixed-rate loan is 6.21% as of Jan. 24, according to Mortgage News Daily. An adjustable rate mortgage may be an optionIt may also be worth considering an adjustable rate mortgage if you're trying to bring the cost down, Yun said. With an ARM, the appeal is its lower initial rate compared with a traditional fixed rate mortgage.

☆ Twitter’s laid-off workers cannot pursue claims via class-action lawsuit, judge says
▼ + stars: | 2023-01-15 | by ( ) edition.cnn.com time to read: +2 min

Twitter (TWTR) has secured a ruling allowing the social media company to force several laid-off workers suing over their termination to pursue their claims via individual arbitration rather than a class-action lawsuit. US District Judge James Donato on Friday ruled that five former Twitter employees pursuing a proposed class action accusing the company of failing to give adequate notice before laying them off after its acquisition by Elon Musk must pursue their claims in private arbitration. Donato granted Twitter’s request to force the five ex-employees to pursue their claims individually, citing agreements they signed with the company. The lawyer who represents the plaintiffs, Shannon Liss-Riordan, said on Monday that she had already filed 300 demands for arbitration on behalf of former Twitter employees and would likely file hundreds more. Those workers all claim they have not received the full severance package promised by Twitter before Musk took over.

☆ Twitter's laid-off workers cannot pursue claims via class-action lawsuit, judge rules
▼ + stars: | 2023-01-15 | by ( ) www.cnbc.com time to read: +2 min

Twitter Inc has secured a ruling allowing the social media company to force several laid-off workers suing over their termination to pursue their claims via individual arbitration than a class-action lawsuit. Donato granted Twitter's request to force the five ex-employees to pursue their claims individually, citing agreements they signed with the company. The lawyer who represents the plaintiffs, Shannon Liss-Riordan, said on Monday that she had already filed 300 demands for arbitration on behalf of former Twitter employees and would likely file hundreds more. Those workers all claim they have not received the full severance package promised by Twitter before Musk took over. The judge said that before asking workers to sign severance agreements waiving their ability to sue the company, Twitter must give them "a succinct and plainly worded notice".

☆ Twitter's laid-off workers asked to drop lawsuit over severance, judge rules
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +2 min

Jan 14 (Reuters) - Twitter Inc has secured a ruling allowing the social media company to force several laid-off workers suing over their termination to pursue their claims via individual arbitration than a class-action lawsuit. Donato granted Twitter's request to force the five ex-employees to pursue their claims individually, citing agreements they signed with the company. The judge said that before asking workers to sign severance agreements waiving their ability to sue the company, Twitter must give them "a succinct and plainly worded notice". Twitter laid off roughly 3,700 employees in early November in a cost-cutting measure by Musk, and hundreds more subsequently resigned. Reporting by Mrinmay Dey in Bengaluru and Nate Raymond in Boston, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk’s Twitter accused of unlawful staff firings in the UK
▼ + stars: | 2023-01-11 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

The letter also said Twitter has failed to provide information about the selection criteria used to determine the layoffs. The letter states that 43 affected UK employees are prepared to take the issue to an Employment Tribunal, a UK system for employees to bring legal disputes against their employers, if the company does not agree to cooperate with negotiations over the layoff process. The warning marks the latest challenge to Twitter from former employees affected by mass layoffs that took place after Elon Musk acquired the company in October. Twitter is also facing four proposed class action lawsuits in the United States related to the layoffs. (Typically, negotiations over mass layoffs by UK companies involve discussions of the reasons for terminations and how to minimize their size and impact.)

☆ Former Twitter employees get severance offer after months of waiting. Many are unhappy with it
▼ + stars: | 2023-01-09 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —After months of uncertainty and feeling left in the dark, many former Twitter employees impacted by a mass layoff in early November began receiving their severance offers over the weekend. The severance offer promises one month’s pay in exchange for agreeing to various terms, including a non-disparagement agreement and waiving the right to take any legal action against the company, according to Lisa Bloom, a lawyer representing dozens of former Twitter employees affected by the layoffs. The former Twitter employees are now stuck deciding whether to accept the money or join the hundreds of others who have already filed arbitration demands or lawsuits against the company. “We’ve been hearing from hundreds of Twitter employees who are considering their options and not happy about only being offered one month severance, after they were promised much more,” Shannon Liss-Riordan, another lawyer working on behalf of former Twitter employees, told CNN in a statement Monday. The severance offer would also require that employees who sign agree not to cooperate as a witness in any legal actions brought by third parties against Twitter.

The problem was the Neris had switched to a new, high-deductible health insurance plan to save money. The 2010 Affordable Care Act expanded access to health insurance, so companies were faced with covering more people than ever before. But the epinephrine auto-injectors — which deliver a shot of epinephrine and are the only emergency medicine available for life-threatening allergic reactions — usually are not. But AHIP (formerly known as America’s Health Insurance Plans), a group that represents such companies, said drug manufacturers are to blame. Fight it with your health care provider, fight it with your insurance company.”“No almost never means no in health insurance,” he said.

☆ How 'Real Housewife' Jen Shah's fabulous life came crashing down
▼ + stars: | 2023-01-06 | by ( Stephanie Clifford | ) www.businessinsider.com time to read: +43 min

The woman wrote to the judge overseeing Shah's case that she'd had to remortgage her house, almost divorced, and "thought about ending my own life." The couple decided that he should get his degree while Jen Shah dropped out of college to work. (Shah told a judge at her 2022 plea hearing that she had been treated for "alcohol and depression" two years prior. Koa Johnson, Jen Shah's former fashion designerWhen Sharrieff Shah did participate in filming, he quickly became a fan favorite, calm and sensible. Once the show aired and Jen Shah developed a fan base, her behavior became more dramatic, Johnson said.

☆ Flight canceled? Here are some expert tips.
▼ + stars: | 2022-12-27 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Staying calm — and knowing your rights — can go a long way if your flight is canceled, experts say. Here’s some of their advice for dealing with a flight cancellation:My flight was canceled. Can I ask to be rebooked on another airline's flight? Airlines aren’t required to put you on another airline’s flight, but they can, and sometimes do, according to the DOT. Agents are typically under a lot of pressure when a flight is canceled, so giving them some options helps.

☆ Sam Bankman-Fried played crossword puzzles, read local newspapers, and ate vegan food while in a notorious Bahamas jail, report says
▼ + stars: | 2022-12-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried played crossword puzzles while being held in a notorious Bahamas jail, Bloomberg reported. He was held in Fox Hill prison's sick bay, where inmates have running water, among other perks, per Bloomberg. Bankman-Fried flew from the Bahamas to New York overnight Wednesday to face fraud charges in the US. New arrivals at Fox Hill must spend two weeks in the jail's sick bay to check they don't have COVID-19, the Daily Mail reported a prison source as saying. Fox Hill's sick bay may be an improvement on the rest of the jail but it's nonetheless a considerable downgrade from Bankman-Fried's $30 million Bahamas penthouse.

☆ More women are traveling alone. The hospitality industry is meeting demand with offerings like 'Alonemoons' — no partner required.
▼ + stars: | 2022-12-22 | by ( Mark Ellwood | ) www.businessinsider.com time to read: +7 min

When she started traveling alone, she said, the trend was less common and locals were often surprised to see her without a companion. The Solo Female Travelers Club, a 190,000-member social network and tour operator, surveys 5,000 women annually on their habits and opinions. A Gili Lankanfushi representative told Insider six women traveling alone had booked the package in the past 18 months. "I think it's a wonderful, life-affirming experience to be a woman traveling solo and experience the nurturing care you can get from strangers. Meg Jerrard, a cofounder of the Solo Female Travelers Club, recently started a consulting division of her company to help guide other businesses as they reevaluate their offerings and staff in light of growing demand from solo female travelers.

☆ FTX founder Bankman-Fried to make U.S. court appearance after extradition
▼ + stars: | 2022-12-22 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Companies Ledgerx LLC FollowNEW YORK, Dec 22 (Reuters) - FTX founder Sam Bankman-Fried is expected to appear before a U.S. court on Thursday after being extradited from The Bahamas, where he had remained since the collapse of his now-bankrupt cryptocurrency exchange. "If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it," Williams said. At his U.S. court appearance, known as an arraignment, Bankman-Fried is expected to be asked to enter a plea. Bankman-Fried has acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability. Since his arrest on Monday, Bankman-Fried was detained at the Bahamas Department of Corrections prison, known as Fox Hill.

REUTERS/Elijah NouvelageWASHINGTON, Dec 22 (Reuters) - Airlines canceled more than 2,700 U.S. flights Thursday and Friday, disrupting holiday travel for thousands, as a powerful winter storm hit the United States. The extreme weather coincided with the start of a holiday travel season that could be one of the busiest ever. The Federal Aviation Administration said Thursday that the winter storm was bringing blizzard conditions to the Midwest with major travel disruptions expected in Chicago, Detroit and Minneapolis-St. Paul. More than 1,830 U.S. flights had been canceled Thursday and another 900 flights for Friday were scrapped, according to flight tracking website FlightAware. Last year's holiday period was marred by an outbreak of COVID-19 among staff that forced airlines to cancel thousands of flights.

☆ Twitter hit by legal complaints from 100 former employees following Musk’s layoffs
▼ + stars: | 2022-12-21 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

The allegations were included as part of the former employees’ demands for arbitration against the company, according to a statement on Tuesday by attorney Shannon Liss-Riordan. Liss-Riordan is the same attorney who has brought four proposed class action lawsuits against Twitter by former employees affected by Elon Musk’s takeover. The arbitration demands are meant to help workers who can’t participate in that litigation because of contracts they signed with the company. She added that her firm has heard from hundreds of former Twitter employees and has filed only the “first wave” of arbitration demands. Liss-Riordan has also filed three complaints against Twitter with the National Labor Relations Board on behalf of employees affected by the layoffs.

☆ Here's how each airline does compensation for flight delays, from meals to hotels to ground transportation
▼ + stars: | 2022-12-21 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

The US Department of Transportation launched a new "airline customer service dashboard" this year. It breaks down the different rights passengers have when an airline delays or cancels their flight. However, several airlines have announced they are waiving flight change fees for passengers caught in the storm's path. The airline will now offer meal vouchers to passengers whose flights are delayed more than three hours instead of four hours, the airline's website shows. American Airlines has also updated the language in its customer service plan to "clarify" the company's existing policies, a spokesperson said.

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