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☆ Schumer: Gov't funding resolution agreement with McCarthy is 'good sign'
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

U.S. Senate Majority Leader Chuck Schumer (D-NY), with Senator Jack Reed (D-RI), Senator Tim Kaine (D-VA) and Senator Catherine Cortez Masto (D-NV), holds a press conference after the weekly Democratic caucus policy luncheon at the U.S. Capitol in Washington, U.S. July 19, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Aug 16 (Reuters) - U.S. Senate Majority Leader Chuck Schumer on Wednesday said he met with House Speaker Kevin McCarthy a few weeks ago and agreed to a resolution that could extend current federal government spending for a few months. Current government funding is due to expire Sept. 30 with the fiscal year beginning Oct 1, and no action to fund the federal government could trigger a shutdown. Any spending measures would have to pass both the Democratic-led Senate and the Republican-controlled House of Representatives. Reporting by Susan Heavey; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Chuck Schumer, Jack Reed, Tim Kaine, Catherine Cortez Masto, Jonathan Ernst, Kevin McCarthy, Schumer, McCarthy, Susan Heavey, Christina Fincher Organizations: Democratic, U.S, Capitol, REUTERS, Rights, Democrat, MSNBC, Republican, Senate, ., Thomson Locations: Washington , U.S, Ukraine

☆ Biden to visit Hawaii on Monday, meet with wildfire survivors -White House
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: 1 min

U.S. President Joe Biden speaks about his intention to visit Hawaii as soon as possible, and federal assistance in dealing with the Hawaii wildfires, while delivering remarks during a visit to Ingeteam Inc.’s Milwaukee facility in Milwaukee, Wisconsin, U.S., August 15, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsWASHINGTON, Aug 16 (Reuters) - U.S. President Joe Biden and first lady Jill Biden will travel to Hawaii on Monday to survey damage from the deadly wildfires that ravaged the resort town of Lahaina, the White House said. Biden will meet with first responders and survivors, as well as federal, state and local officials, the White House said in a statement. Reporting by Rami Ayyub; editing by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Kevin Lamarque, Jill Biden, Biden, Rami Ayyub, Susan Heavey Organizations: Ingeteam Inc, REUTERS, Rights, Thomson Locations: Hawaii, Milwaukee, Milwaukee , Wisconsin, U.S, Lahaina

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Aug 16 (Reuters) - Officials from seven U.S. states wrote to U.S. antitrust enforcers on Wednesday to ask for Kroger's (KR.N) proposed $24.6 billion acquisition of Albertsons (ACI.N) to be stopped. In a letter to Federal Trade Commission (FTC) Chair Lina Khan, the secretaries of state said that the deal would give a combined Kroger/Albertsons nearly a quarter of the U.S. food retail market. Large, non-unionized competitors such as Walmart and Amazon would be the only parties to benefit if it were blocked, the spokesperson said. While federal antitrust agencies often work with state attorneys general on merger reviews, they do not usually work with secretaries of state, who in many states have a more limited business-oversight role. Reporting by Diane Bartz and Jasper Ward; editing by Susan Heavey, Sharon Singleton and Andy SullivanOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lina Khan, Diane Bartz, Jasper Ward, Susan Heavey, Sharon Singleton, Andy Sullivan Organizations: Kroger Co, New York Stock Exchange, REUTERS, Rights, Albertsons, Federal Trade Commission, Kroger, Walmart, Amazon, FTC, Thomson Locations: New York City, U.S, Colorado , Arizona , Maine, Minnesota, New Mexico, Rhode Island and Vermont

☆ US welcomes WTO panel report on China steel, aluminum tariffs
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

A staff member wearing a face mask walks past United States and Chinese flags set up before a meeting between Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng at the Diaoyutai State Guesthouse in Beijing, China, Saturday, July 8, 2023. Mark Schiefelbein/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Aug 16 (Reuters) - The office of the U.S. Trade Representative on Wednesday said it was pleased with a World Trade Organization panel report that it said recognized the United States' section 232 actions on steel and aluminum are security measures and rejected China's arguments. "The United States is pleased with the World Trade Organization (WTO) panel report released today, recognizing that the U.S. Section 232 actions on steel and aluminum are security measures, and that the People’s Republic of China (China) illegally retaliated with sham 'safeguard' tariffs," the USTR said in a statement. Reporting by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Mark Schiefelbein, Susan Heavey Organizations: Rights, U.S . Trade, World Trade Organization, U.S, Thomson Locations: United States, Diaoyutai, Beijing, China, People’s Republic of China

☆ Factbox: The legal troubles of former US President Donald Trump
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +6 min

Republican presidential candidate and former U.S. President Donald Trump campaigns at the Iowa State Fair in Des Moines, Iowa, U.S. August 12, 2023. REUTERS/Scott Morgan/File PhotoAug 15 (Reuters) - Here is a list of legal troubles facing former U.S. President Donald Trump, the front-runner for the 2024 Republican presidential nomination. On Jan. 6, 2021, Trump supporters attacked the U.S. Capitol in a failed bid to prevent certification of Biden's victory. Trump pleaded not guilty to 34 counts of falsifying business records. Cohen pleaded guilty to campaign finance violations and other crimes and was sentenced to three years in prison in 2018 during Trump's presidency.

Persons: Donald Trump, Scott Morgan, Trump, Democrat Joe Biden, Mark Meadows, Rudy Giuliani, John Eastman, Jack Smith, Walt Nauta, Carlos De Oliveira, De Oliveira, Nauta, Trump's, Michael Cohen, Stormy Daniels, Daniels, reimbursing Cohen, Cohen, Jean Carroll, Carroll, Letitia James, James, Donald Jr, Eric, Joseph Ax, Luc Cohen, Karen Freifeld, Susan Heavey, Sarah N, Lynch, Jonathan Stempel, Jacqueline Thomsen, Noeleen Walder, Howard Goller Organizations: Fair, REUTERS, Democrat, Trump, White House, CAPITOL, U.S, Capitol, Prosecutors, Congress, White, Mar, Trump's, CNN, NEW, GENERAL, New York, Trump Organization, Thomson Locations: Iowa, Des Moines , Iowa, U.S, GEORGIA, Georgia, Trump's, Washington, Miami, Lago Florida, New Jersey, York, Manhattan, Lago, Florida, New York

A document briefly posted on and then taken down from the official Fulton County, Georgia court website shows a list of potential felony charges against former President Donald Trump, after being downloaded by Reuters shortly before the court took the document back down without explanation, in Atlanta, Georgia, U.S. August 14, 2023. ... Read moreAug 14 (Reuters) - The Fulton County, Georgia, court's website briefly posted a document on Monday listing several criminal charges against former U.S. President Donald Trump that appeared related to his attempts to overturn his 2020 election defeat in the state, before taking the document down without explanation. The Fulton County District Attorney's office said in a statement that no charges had been filed against Trump. The document was dated Aug. 14 and named Trump, citing the case as "open," but is no longer available on the court's website. The Fulton County clerk's office could not immediately be reached for comment on the docket report.

Persons: Donald Trump, Read, Trump, Fani Willis, Joe Biden's, Timothy Ahmann, Susan Heavey, Rami Ayyub, Howard Goller Organizations: Reuters, U.S, Trump, District, Georgia Rico, Thomson Locations: Fulton County , Georgia, Atlanta , Georgia, U.S, Fulton County, Georgia, Fulton

☆ Biden urges automakers, union to make 'a fair agreement'
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden waves as he steps from Marine One upon his return from Delaware to the White House in Washington, U.S., August 14, 2023. REUTERS/Kevin LamarqueWASHINGTON, Aug 14 (Reuters) - U.S. President Joe Biden on Monday called for union auto workers and Detroit's Big Three automakers to come together on a new agreement ahead of their contact's expiration next month. "I’m asking all sides to work together to forge a fair agreement," Biden said in a statement as talks continue between the United Auto Workers (UAW) and Ford (F.N), General Motors (GM.N) and Stellantis' Chrysler (STLAM.MI) . Representatives for the UAW and the three automakers could not immediately be reached for comment. Reporting by Ismail Shakil and Ben Klayman; writing by Susan Heavey; editing by Rami AyyubOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Kevin Lamarque WASHINGTON, Biden, Ismail Shakil, Ben Klayman, Susan Heavey, Rami Ayyub Organizations: Marine, White, REUTERS, United Auto Workers, UAW, Ford, General Motors, Chrysler, Thomson Locations: Delaware, Washington , U.S

☆ Biden expands US aid for Hawaii as wildfires grip Maui
▼ + stars: | 2023-08-10 | by ( Nandita Bose | ) www.reuters.com time to read: +2 min

SALT LAKE CITY, Aug 10 (Reuters) - President Joe Biden on Thursday expanded federal aid to Hawaii and promised help to its suffering citizens as deadly wildfires engulfed the island of Maui, and he expressed condolences for the devastation in a call with the state's governor. An aerial view shows smoke as wildfires ravage the island in Maui, Hawaii, August 9, 2023. County of Maui/Handout via REUTERS"Our prayers are with the people of Hawaii, but not just our prayers. The White House said the order would make federal funding available to affected people in Maui County. In a call with Hawaii Governor Josh Green, Biden "expressed his deep condolences for the lives lost and vast destruction of land and property," the White House added.

Persons: Joe Biden, Biden, who's, Josh Green, Nandita Bose, Susan Heavey, Rami Ayyub, Jeff Mason, Aurora Ellis, Jonathan Oatis Organizations: LAKE CITY, Hawaii, Federal Emergency Management Agency, FEMA, National Guard, U.S . Coast Guard, Thomson Locations: Hawaii, Maui, Utah, County, Handout, Maui County

☆ US Senator Feinstein back home after fall, brief hospitalization
▼ + stars: | 2023-08-09 | by ( Moira Warburton | ) www.reuters.com time to read: +2 min

Senator Dianne Feinstein (D-CA) attends a Senate Judiciary Committee executive business meeting to vote on legislation and pending nominations before the committee, on Capitol Hill in Washington, U.S., May 11, 2023. Senator Dianne Feinstein, 90, was briefly hospitalized following a minor fall in her San Francisco home, her office said on Wednesday, the latest incident involving a key member of the committee that approves federal judges. "All of her scans were clear and she returned home," after a brief Tuesday night hospitalization, Feinstein's office said in a statement. Feinstein is a member of the Senate Judiciary Committee that plays a critical role in confirming presidential appointments of federal judges. First elected to the Senate in 1992, Feinstein has said she will not seek re-election in 2024.

Persons: Dianne Feinstein, Kevin Lamarque, Feinstein, Republican Mitch McConnell, Ramsay Hunt, Moira Warburton, Rami Ayyub, David Ljunggren, Susan Heavey, Jonathan Oatis Organizations: Capitol, REUTERS, Democratic U.S, Democrats, Senate, Top, Republican, Committee, Thomson Locations: Washington , U.S, San, Washington

☆ Norfolk Southern agrees to boost safety at Ohio derailment site, US says
▼ + stars: | 2023-08-09 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, U.S., March 2, 2023. REUTERS/Alan Freed/File PhotoWASHINGTON, Aug 9 (Reuters) - Norfolk Southern Corp (NSC.N) has agreed to improve conditions for workers rebuilding and cleaning up the site of its February derailment in East Palestine, Ohio, the U.S. Labor Department said on Wednesday. A Norfolk Southern-operated train derailed on Feb. 3 in Ohio, causing cars carrying toxic vinyl chloride and other dangerous chemicals to spill and catch fire. In March, Ohio and the U.S. Justice Department sued Norfolk Southern, seeking to ensure the railroad pays the full cost of cleanup and any long-term effects of the derailment. A U.S. Senate panel in May approved rail safety legislation that tightens rules on trains carrying explosive substances like the Norfolk Southern-operated train.

Persons: Alan Freed, We’ve, Alan Shaw, Susan Heavey, David Shepardson, Doina Chiacu, Deepa Babington, Jonathan Oatis Organizations: REUTERS, Norfolk Southern Corp, U.S . Labor Department, Teamsters ’ Railway Union, Safety, Health Administration, OSHA, Waste, Norfolk Southern, U.S . Justice Department, U.S, Senate, Republicans, Thomson Locations: East Palestine , Ohio, U.S, Norfolk Southern, Ohio, Norfolk

WASHINGTON, Aug 8 (Reuters) - U.S. regulators on Tuesday hit another batch of Wall Street firms with $549 million in civil penalties over widespread record-keeping failures related to employees' use of personal text messages and other messaging apps. Eleven firms, including Wells Fargo Securities and BNP Paribas Securities Corp, have agreed to pay $289 million in fines to the U.S. Securities and Exchange Commission to resolve the allegations. Regulators require broker dealers and investment advisers to keep certain work-related communications, but Wall Street dealers have increasingly used personal devices in recent years. Spokespeople for BNP, which agreed to pay $110 million to the regulators, and Mizuho, which agreed to pay $25 million to the SEC, declined to comment. The regulators have already fined units of JPMorgan Chase and Co (JPM.N), Barclays, Bank of America and others for similar record-keeping failures.

Persons: Wells, Société, Spokespeople, Gurbir Grewal, Chris Prentice, Susan Heavey, Nivedita Balu, Nupur Anand, Saeed Azhar, Bernadette Baum, Jason Neely Organizations: Wall Street, Wells, Wells Fargo Securities, BNP Paribas Securities Corp, U.S . Securities, Exchange Commission, Futures Trading, BNP, Bank of Montreal, Wedbush Securities Inc, Wall, SEC, CFTC, Mizuho, Nikko Securities, JPMorgan Chase, Barclays, Bank of America, Reuters, Thomson Locations: U.S, Wells Fargo, Nikko, New York, Washington, Toronto

Fulton County District Attorney Fani Willis is wrapping up a probe of attempts to overturn his 2020 election defeat in the politically competitive state of Georgia. The front of the courthouse was lined with rows of orange plastic, water-filled Jersey barriers and steel crowd control barricades. Dozens of county sheriff's deputies were stationed out front, and other deputies and Atlanta police drove marked cars in circles around the streets nearby. Trump supporters stormed the U.S. Capitol on Jan. 6, 2021, in an attempt to stop Congress from certifying his defeat. Samaya Lockridge, 23, a Democrat, who just moved from Tampa to Atlanta, said she hoped Atlanta would not see a replay of that violence.

Persons: Lewis, Donald Trump, Read, Fani Willis, Willis, Fulton County Sheriff Patrick Labat, Trump, Joe Biden's, government's, Samaya Lockridge, Rich McKay, Josephine Walker, Susan Heavey, Scott Malone, Howard Goller Organizations: Fulton County Sheriff, Slaton, Fulton, Atlanta police, Republican, Democratic, U.S, Capitol, Democrat, Thomson Locations: Fulton County, ATLANTA, Fulton, Atlanta , Georgia, Georgia, Jersey, Washington, Tampa, Atlanta

☆ Lawyer says Trump was just 'asking' with 2020 election actions
▼ + stars: | 2023-08-06 | by ( Susan Heavey | ) www.reuters.com time to read: +3 min

"Every single thing that President Trump is being prosecuted for involved aspirational asks - Asking state legislatures, asking state governors, asking state electoral officials to do the right thing. In fact, even asking Vice President Pence was protected by free speech," Lauro told Fox News. Trump, who pleaded not guilty in court last week, faces four federal charges in the election case. The proposed order would also "prevent the press from obtaining exculpatory and material information that might be relevant to these proceedings," he told "Fox News Sunday." Her also pleaded not guilty to New York state charges in Manhattan that he falsified business records to hide hush money payments to a porn star ahead of the 2016 election.

Persons: Donald Trump, Sam Wolfe WASHINGTON, aspirational, John Lauro, Joe Biden's, Trump, Pence, Lauro, Jack Smith, Tanya Chutkan, Smith, Trump's, Susan Heavey, Kanishka Singh, Leah Douglas, Heather Timmons, Grant McCool Organizations: U.S, Republican, REUTERS, Democratic, Fox News, Department of Justice, Trump, Fox, U.S . Justice Department of, Thomson Locations: Columbia , South Carolina, U.S, New York, Manhattan, Washington

☆ Dorsey-led Block raises 2023 earnings outlook after Q2 beats estimates
▼ + stars: | 2023-08-03 | by ( Nupur Anand | ) www.reuters.com time to read: +1 min

The company reported net revenue of $5.53 billion in the three months ended June, compared with $4.4 billion a year ago, beating Refinitiv estimates. The fintech, which offers merchant payment services and an app that lets people trade cryptocurrency, said gross profit in the quarter rose 27% to come in at $1.87 billion. It also revised its earnings before interest, taxes, depreciation and amortization outlook for 2023 to $1.5 billion up from an earlier forecast of $1.3 billion. Cash App, the company’s mainstay online payments service, increased gross profit by 37% to $968 million, while its Square business reported gross profit of $888 million, up 18% from last year. On an adjusted basis, Block earned 39 cents in the second-quarter, beating analysts' estimates of 36 cents, according to Refinitiv IBES data.

Persons: Dado Ruvic, Jack Dorsey, Dorsey, Block, Nupur Anand, Jonathan Oatis, Susan Heavey, Sonali Paul Organizations: REUTERS, Thomson Locations: New York

☆ US to keep Russia's food exports flowing if grain deal revived, Blinken says
▼ + stars: | 2023-08-03 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

Russia last month quit the July 2022 deal brokered by the United Nations and Turkey aimed at easing a global food crisis after Russia's invasion of Ukraine five months earlier. PRICING PRESSURESBlinken told reporters that Russia's exports of food have exceeded levels prior to its invasion of Ukraine. The United Nations has argued that the Black Sea deal helped everyone because it brought prices down 23% from a record high in the weeks following Russia's invasion of Ukraine. After Moscow quit the deal, it began targeting Ukrainian ports and grain infrastructure on the Black Sea and Danube River, sending global grain prices soaring. Moscow has said it may resurrect the Black Sea agreement if its demands to improve its own exports of grain and fertilizer are met.

Persons: Mehmet Bey, Mehmet Emin Calsikan, Antony Blinken, we'll, Blinken, Russia's, Dmitry Polyanskiy, Polyanskiy, Moscow, Vladimir Putin, Michelle Nichols, Daphne Psaledakis, Humeyra Pamuk, Katharine Jackson, Jonathan Oatis, Susan Heavey Organizations: REUTERS, UNITED NATIONS, United, United Nations, Security, Russia, JPMorgan, The United Nations, European, Reuters, Thomson Locations: Yenikapi, Istanbul, Turkey, United States, Russia, United Nations, Ukraine, Moscow, Washington, Africa, Asia, America

REUTERS/Aude Guerrucci/File PhotoAug 3 (Reuters) - Thousands of UPS workers will start voting on their tentative contract agreement with the delivery giant on Thursday after local leaders of the International Brotherhood of Teamsters endorsed the union's deal earlier this week. The tentative deal covering 340,000 Teamsters-represented workers at United Parcel Service (UPS.N) averted a threatened strike that could have wreaked havoc on the U.S. economy by disrupting about a quarter of the nation's parcel shipments. Leaders from Teamsters locals oversee messaging and "sell" the deal to members, who vote through Aug. 22. The tentative deal would raise it to $21 from the current $16.20. It remains to be seen whether the group can mobilize enough part-timers, who account for about half of UPS workers.

Persons: Peter Lyngso, Jose Negrete, Negrete, Lyngso, Lisa Baertlein, Susan Heavey Organizations: Parcel Service, Teamsters, REUTERS, International Brotherhood of Teamsters, United Parcel Service, Monday, Leaders, UPS, Reuters, Thomson Locations: U.S, Orange , California, Washington, Chicago, Anaheim , California, Louisville , Kentucky, Los Angeles

☆ Factbox: The complexity of transforming rare earths from mine to magnet
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +3 min

China accounts for about 60% of global rare earth mine production, but its share jumps to 85%-90% of processed rare earths and magnet output. The ore contains a small percentage of rare earths, but other minerals are removed through flotation, magnetic or electrostatic processing to produce a mixed rare earth concentrate that often contains 60% to 70% rare earths. So-called light and heavy rare earths must go through different separation circuits where individual rare earths are extracted. METALS/ALLOYSSeparated rare earth oxides or carbonates are then refined into rare earth metals. Small amounts of rare earths dysprosium and terbium are often added to create more heat resistance in the magnet.

Persons: Steve Marcus, Goldman Sachs, Eric Onstad, Susan Heavey Organizations: REUTERS, Thomson Locations: Pass , California, U.S, China

REUTERS/Steve Marcus/File photoAug 2 (Reuters) - Refining rare earths for the green energy transition is hard. "The (rare earths) commissioning process is painstaking, with stops and starts," Jim Litinsky, MP's CEO and largest shareholder, told investors in May. Rare earths magnets turn power into motion and are the essential components in an electric vehicle's motor. Rare earths refining "is not really being addressed even by those who are developing magnet capacity," said Ryan Castilloux, a minerals consultant at Adamas Intelligence. American Rare Earths is working with U.S. government scientists at the Lawrence Livermore Laboratory to develop bacteria that could process rare earths.

Persons: Steve Marcus, Lockheed Martin's, Lynas, Jim Litinsky, Kray Luxbacker, they've, Allan Walton, Ryan Castilloux, Castilloux, refines, Dysprosium, Tesla, Melissa Sanderson, Nathan Picarsic, Ernest Scheyder, Eric Onstad, Nick Carey, Melanie Burton, Veronica Brown, Susan Heavey Organizations: REUTERS, Lockheed, International Energy Agency, General Motors, University of, University of Birmingham, Adamas Intelligence, Trump, Reuters, Pentagon, Blue, Benchmark Mineral Intelligence, Edge, Sweden's, U.S, Lawrence Livermore Laboratory, Horizon Advisory, Thomson Locations: Pass , California, U.S, China, Apple's, Beijing, Texas, Western Australia, COVID, California, Myanmar, Vietnam, Malaysia, Australia, Kuala Lumpur, United States, San Antonio , Texas, Sweden, South Africa, Karr

NEW YORK, July 31 (Reuters) - Shares of SoFi Technologies Inc (SOFI.O) rose by more than 22% on Monday, hitting highest level in more than a year, after the financial services provider reported second quarter results that beat analyst expectations. That result exceeded the average analyst estimate of $476.2 million and $261.3 million for SoFi's revenue and NII, according to Refinitiv data. SoFi's shares rose as high as $11.70, the highest level since March last year, before closing at $11.45 on Monday - a nearly 20% gain from the previous session. "(Second quarter) results beat expectations and were largely positive with continued rapid member and deposit growth," Jefferies analysts, led by John Hecht, said in an investor note. "We highlight that results were more from net interest income and less from fair value marks relative to our forecast, which represents recurring revenues," the analysts added.

Persons: John Hecht, Jefferies, Chibuike Oguh, Medha Singh, Nick Zieminski, Susan Heavey Organizations: YORK, SoFi Technologies, JPMorgan, Jefferies, Wall, Thomson Locations: San Francisco, New York, Bangalore

☆ UAW wins Democratic senators' support for joint venture battery workers
▼ + stars: | 2023-07-28 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, July 28 (Reuters) - More than half of the Senate's Democrats are backing the United Auto Workers' push for higher wages and benefits for workers at Detroit Three automakers' joint venture battery plants, they said in a letter released on Friday. UAW leaders have sought to secure support from Washington as negotiations opened earlier this month, with UAW President Shawn Fain meeting with lawmakers and President Joe Biden last week. In their letter to the CEOs of the Detroit Three and battery joint ventures, Senate Majority Leader Chuck Schumer joined Senators Sherrod Brown, Ron Wyden, Bernie Sanders, Richard Durbin and others in urging the automakers to embrace the joint venture battery workers before the current contract expires. Stellantis said it respects the UAW's right to organize future hourly employees at its joint venture battery facilities, adding: " The joint venture intends to offer very competitive wages and benefits." Last month, the union chief criticized $9.2 billion federal loan to a Ford/South Korea's SK On joint venture.

Persons: Shawn Fain, Joe Biden, Chuck Schumer, Sherrod Brown, Ron Wyden, Bernie Sanders, Richard Durbin, Ford, Stellantis, Jim Farley, Bill Ford, Biden, Biden's, Fain, David Shepardson, Susan Heavey Organizations: United Auto Workers, Detroit, automakers, General Motors, Ford Motor, Chrysler, UAW, Workers, EVs, SK On, South Korea's SK Innovation, Reuters, Ford, Korea's SK, LG Energy, Thomson Locations: United States, Washington, South, KS, Ohio

☆ Roku shares set for biggest daily percentage gain in four years
▼ + stars: | 2023-07-28 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +1 min

NEW YORK, July 28 (Reuters) - Shares of video streaming company Roku Inc (ROKU.O) jumped 25% on Friday and were on track for their biggest daily percentage gain since May 2019 after the streaming device maker gave an upbeat quarterly revenue forecast. Roku's stock was last up 25.3% at $85.45 in afternoon trading and has more than doubled so far this year. Meta shares were up about 4% on Friday while Alphabet was up about 3%, helping to drive a roughly 1% gain in the S&P 500 index (.SPX). Several brokerages raised their price targets on Roku after the news, including D.A. Roku said it added 1.9 million "active accounts" from the previous quarter to now reach 73.5 million.

Persons: Roku's, Davidson, OTT, Roku, Caroline Valetkevitch, Lance Tupper, Susan Heavey Organizations: YORK, Roku Inc, Meta, D.A, Thomson

☆ Roku shares notch biggest daily percentage gain in four years
▼ + stars: | 2023-07-28 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +1 min

NEW YORK, July 28 (Reuters) - Shares of video streaming company Roku Inc (ROKU.O) jumped about 25% on Friday and were on track for their biggest daily percentage gain since May 2019 after the streaming device maker gave an upbeat quarterly revenue forecast. Roku's stock was last up 25.1% at $85.31 in midday trading and has more than doubled so far this year. Meta shares were up about 4% on Friday while Alphabet was up about 3%, helping to drive a roughly 1% gain in the S&P 500 index (.SPX). Several brokerages raised their price targets on Roku after the news, including D.A. Roku said it added 1.9 million "active accounts" from the previous quarter to now reach 73.5 million.

Persons: Davidson, OTT, Roku, Caroline Valetkevitch, Lance Tupper, Susan Heavey Organizations: YORK, Roku Inc, Meta, D.A, Thomson

July 28 (Reuters) - Here is a list of legal troubles facing former U.S. President Donald Trump, the front-runner for the 2024 Republican presidential nomination. Trump said his attorneys met on Thursday with U.S. Justice Department officials, in a sign charges could come soon. Trump said on his Truth Social platform that the Department of Justice had not told his attorneys when action was likely. Officials have testified that during his final months in office, Trump pressured them with false voter fraud claims. Legal experts said Trump may have violated at least three Georgia criminal laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties.

Persons: Donald Trump, Trump, JAN, General Merrick Garland, Trump's, Smith, Walt Nauta, Carlos De Oliveira, De Oliveira, Fani Willis, Brad Raffensperger, Michael Cohen, Stormy Daniels, Daniels, reimbursing Cohen, Cohen, Jean Carroll, Carroll, Letitia James, James, Donald Jr, Eric, Joseph Ax, Luc Cohen, Karen Freifeld, Susan Heavey, Sarah N, Lynch, Jonathan Stempel, Jacqueline Thomsen, Noeleen Walder, Howard Goller, Daniel Wallis Organizations: CAPITOL, U.S, Capitol, U.S . Justice Department, Department of Justice, White, Trump, Prosecutors, Republican Georgia, U.S . Constitution, Trump's, CNN, NEW, GENERAL, New York, Trump Organization, Thomson Locations: Miami, Lago Florida, New Jersey, GEORGIA, Fulton County, Georgia, U.S ., York, Manhattan, Lago, Florida, New York

The rule, which would implement a 2017 agreement by global regulators, aims to overhaul how banks gauge their riskiness, and in turn how much money they must keep on hand. Industry opponents have already begun to criticize the plan as banks seek to soften, delay, or otherwise derail the government's long-planned effort. The proposal would see U.S. regulators implement a previous global agreement via the Basel Committee on Banking Supervision. "Bank capital is critical," said Dennis Kelleher, president and CEO of Better Markets, which advocates for tougher financial rules. "However, maximizing Wall Street’s bonuses depends on minimizing capital and that’s why Wall Street fights to prevent regulators from requiring them to have enough capital."

Persons: it’s, Ian Katz, JPMorgan Chase, Morgan Stanley, Michael Barr, Barr, Joe Biden, Dennis Kelleher, Pete Schroeder, Susan Heavey Organizations: Federal Deposit Insurance Corporation, Federal, Industry, Washington, Capital Alpha Partners, JPMorgan, Banking Supervision, Citizens Financial, Bank, Better, Thomson Locations: U.S, Basel, Huntington, that’s

☆ Tupperware's stock extends recent rally, up 300% in 5 trading days
▼ + stars: | 2023-07-27 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

The stock gains have come despite signs earlier this year of problems for Florida-based Tupperware Brands Corp. Tupperware's stock on Thursday was also among the most watched tickers on retail-investor-focused Stocktwits.com, with an "extremely bullish" sentiment score. The sharp, unexplained gains echo those seen in Bed Bath & Beyond (BBBYQ.PK) before it filed for bankruptcy and other "meme" stocks known for their sudden popularity with retail investors. Also like other "meme" shares, Tupperware's stock is highly shorted. Even with the recent gains, Tupperware's stock is down about 30% for the year to date.

Persons: Caroline Valetkevitch, Susan Heavey Organizations: YORK, Tupperware Brands Corp, Moelis, Investors, Thomson Locations: Florida, Bath

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