Stocks News

By Daniel Wiessner (Reuters) – The U.S. agency that enforces workplace discrimination laws has urged a federal appeals court to revive a lawsuit alleging that Uber Technologies Inc’s system allowing passengers to rate drivers is racially discriminatory.

By Maiya Keidan TORONTO (Reuters) – Hedge fund bets against Canada’s TD Bank Group on Wednesday hit $4.2 billion, making it the most-shorted banking stock globally, according to data provider ORTEX’s calculations, with some analysts concerned about the bank’s exposure to U.S. regional lenders.

By Byron Kaye SYDNEY (Reuters) – A regional Australian mayor said he may sue OpenAI if it does not correct ChatGPT’s false claims that he had served time in prison for bribery, in what would be the first defamation lawsuit against the automated text service.

(Reuters) – Ford Motor Co on Wednesday confirmed all three of its electric vehicles and plug-in hybrids were eligible for Inflation Reduction Act (IRA) federal tax credits in 2023.

By Andrew Goudsward (Reuters) – Three former executives of medical device company Magellan Diagnostics concealed a malfunction in the company’s lead-testing devices that caused tests to underestimate the level of lead in people’s blood, U.S. prosecutors in Boston said in announcing criminal charges on Wednesday.

(Reuters) – Conagra Brands Inc raised its full-year profit forecast on Wednesday, as the Slim Jim beef jerky maker bets on price increases and resilient demand for its frozen foods, snacks and other packaged meals.

By David Shepardson NEW YORK (Reuters) – Chrysler parent Stellantis NV on Wednesday unveiled its new electric Ram pickup truck, which is poised to debut on the market late in 2024 as a key part of the French-Italian automaker’s strategy to electrify its vehicle lineup.

(Reuters) – Walmart Inc said on Wednesday it was expecting inflation to add sustained pressure to its business this year, and that it was planning to slow the pace of hiring as its uses more automation amid a tight labor market.

By Tatiana Bautzer NEW YORK (Reuters) – Wall Street bankers face an increasingly gloomy job market after last month’s banking crisis worsened an already bleak outlook for pay and staffing.

DETROIT (Reuters) – Ford Motor Co plans “dramatic reductions” in the complexity of its product lineup starting in the 2024 model year, Jim Baumbick, the automaker’s product development chief, said Wednesday at a conference hosted by Bank of America.

BRUSSELS (Reuters) – EU countries and EU lawmakers are likely to clinch a deal on a multi-billion euro plan to boost the bloc’s chip industry on April 18, sources with direct knowledge of the matter said on Wednesday.

LOS ANGELES (Reuters) – FedEx Corp said on Wednesday the delivery firm will consolidate its operating companies into one organization, as part of its plan to slash $4 billion in permanent costs by the end of fiscal 2025.

By Ricardo Brito and Lisandra Paraguassu

MILAN (Reuters) – Former Italian Prime Minister Silvio Berlusconi is in intensive care at Milan’s San Raffaele hospital, a political source told Reuters on Wednesday.

By Katie Paul (Reuters) – Facebook-owner Meta published an artificial intelligence model on Wednesday that can pick out individual objects from within an image, along with a dataset of image annotations that it said was the largest ever of its kind.

By Pietro Lombardi MADRID (Reuters) – Spanish power company Iberdrola will seek to expand in the United States and take advantage of its green subsidies after announcing the sale of gas assets worth $6 billion in Mexico, Chief Financial Officer Jose Sainz said on Wednesday.

(Reuters) – Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

By David Lawder WASHINGTON (Reuters) – Rising geopolitical tensions and the resulting fragmentation of the global economy could increase financial stability risks, reducing cross-border investments, asset prices, payment systems and banks’ ability to lend, the International Monetary Fund said on Wednesday.

By Stephen Nellis (Reuters) – Apple Inc on Wednesday said that more of its supply chain is committing to use renewable energy in producing the company’s iPhones, Macs and other products.

By Noele Illien ZURICH (Reuters) – UBS will seek to reassure shareholders on Wednesday that its unexpected takeover of rival Credit Suisse in the biggest bank rescue since the great financial crash can work.