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DirecTV rejects Disney offer to restore ABC for presidential debate

(Reuters) – DirecTV has rejected Walt Disney Co’s offer to restore the ABC network to subscribers to watch Tuesday’s U.S. presidential debate, which ABC News is hosting. A spokesman for DirecTV told Reuters restoring the ABC network for three hours would be confusing to subscribers, who are able to watch the debate via other networks. DirecTV subscribers lost access to Disney’s networks on Sept. 1, after the two sides failed to reach a new distribution … Read more…

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Wall Street surges, follows European stocks higher on rate cut hopes

By Stephen Culp NEW YORK (Reuters) -U.S. stocks moved higher on Monday, following their European counterparts, as markets looked ahead to key data and actions from central banks. The S&P 500 appeared set to snap a four-session losing streak, bouncing back along with the Dow from its biggest weekly percentage loss since March 2022. The tech-laden Nasdaq staged a comeback after suffering its largest Friday-to-Friday decline since January 2022 last week. “Two things are happening,” … Read more…

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Google aimed to control web ad tech, US prosecutor says as trial begins

By Jody Godoy ALEXANDRIA, Virginia (Reuters) -Alphabet’s Google sought to dominate all sides of online advertising technology by controlling competitors and customers, a Justice Department prosecutor said as trial began in the tech titan’s latest antitrust showdown in Alexandria, Virginia on Monday. Prosecutors say Google has largely dominated the technological infrastructure that funds the flow of news and information on websites through more than 150,000 online ad sales every second. Google used classic monopoly-building tactics … Read more…

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Lilly appoints insider as finance chief amid rising investments to boost capacity

By Bhanvi Satija (Reuters) – U.S. drugmaker Eli Lilly on Monday said it has appointed insider Lucas Montarce as its new chief financial officer, effective immediately, months after former CFO Anat Ashkenazi stepped down to join Google parent Alphabet. This executive change arrives at a critical juncture for Eli Lilly, as the company invests billions to expand manufacturing capacity and meet soaring demand for its diabetes and weight loss drugs, Mounjaro and Zepbound. Lilly and … Read more…

Boeing reaches early deal with 25% higher pay in hope to avert strike

By Allison Lampert and David Shepardson -Boeing said on Sunday it had reached a tentative agreement with a union representing more than 32,000 workers in the U.S. Pacific Northwest, in a deal that could help avert a possible crippling strike as early as Sept. 13. The proposed four-year agreement, which includes a general wage increase of 25%, 12 weeks of paid parental leave, and improved job security, would need to be approved on Thursday by … Read more…

Renault CEO says sector could face billions in fines as EV sales slow

PARIS (Reuters) – Europe’s autos industry could face fines of 15 billion euros ($17.4 billion) for carbon emissions due to slowing demand for electric vehicles, Renault CEO Luca de Meo said on Saturday. Automakers face tougher EU CO2 targets in 2025 as the cap on average emissions from new vehicles sales falls to 94 grams/km from 116 g/km in 2024. “If electric vehicles remain at today’s level, the European industry may have to pay 15 … Read more…

Musk’s xAI in talks for share in future Tesla revenue, WSJ reports

(Reuters) – Elon Musk’s AI startup xAI has discussed a deal that would give it some revenue from Musk’s Tesla in exchange for providing the electric vehicle maker access to its technology and resources, the Wall Street Journal reported on Saturday. Under a proposed arrangement as described to investors, Tesla would license xAI’s artificial intelligence models to help power full self-driving technology and share some of that revenue with the startup, the newspaper said, citing … Read more…

Vale, BHP, Samarco could close $18 billion deal over Brazil dam collapse, sources say

RIO DE JANEIRO (Reuters) -Mining companies Vale and BHP, together with their joint venture Samarco, may soon reach an agreement with Brazilian authorities to pay around 100 billion reais ($17.87 billion) for the collapse of a dam in the city of Mariana, said four sources familiar with the discussions. Three of the sources expect a final agreement to be reached in October. The amount is more than the 82 billion reais in new resources offered … Read more…

KinderCare revives plans for long-sought US IPO

(Reuters) – KinderCare Learning Companies, a provider of early childhood education, filed for an initial public offering (IPO) in the United States on Friday. This marks KinderCare’s second attempt at going public, as the company had first filed to list its shares in 2021 but abandoned its bid last year. A consortium of twelve banks, led by Goldman Sachs, Morgan Stanley, Barclays, and J.P. Morgan, is underwriting the IPO. The company aims to list its … Read more…

Exclusive-Russia raises forecast for 2024 oil, gas export revenues by $17.4 billion, document shows

By Darya Korsunskaya (Reuters) – Russia’s economy ministry has revised up its 2024 forecasts for export sales of oil and gas, key sources of budget revenues, by $17.4 billion from the previous estimate to $239.7 billion thanks to a more positive price outlook, a document seen by Reuters showed. The improved expectations for Russia’s oil and gas business underscore how the West has struggled to inflict lasting damage on Russia’s economy through unprecedented sanctions, including … Read more…