By Daniel Wiessner (Reuters) -The administration of U.S. President Joe Biden on Tuesday unveiled a rule extending mandatory overtime pay to an estimated 4 million salaried workers, going even further than an Obama-era rule that was struck down in court. The U.S. Department of Labor rule will require employers to pay overtime premiums to workers […]
Big banks face probe over NDAs in swaps, clearing businesses, Bloomberg reports
(Reuters) -The Commodity Futures Trading Commission (CFTC) has reached out to a number of banks, including JPMorgan Chase, Bank of America and Citigroup to see if they have been preventing would-be whistleblowers from speaking out, Bloomberg News reported on Wednesday. CFTC is asking banks for non-disclosure agreements in their swaps and clearing businesses, and has […]
Famine risk ‘very high’ in Gaza, especially in north, US official says
By Humeyra Pamuk WASHINGTON (Reuters) -Israel has taken significant steps in recent weeks on allowing aid into Gaza, the U.S. special envoy for humanitarian issues said on Tuesday, but considerable work remained to be done as the risk of famine in the enclave is very high. David Satterfield declined to say whether Washington was satisfied […]
IBM nearing deal for cloud software provider HashiCorp, source says
By Arsheeya Bajwa (Reuters) -International Business Machines is nearing a deal to buy cloud software provider HashiCorp, according to a person familiar with the matter. Hashicorp’s stock surged 24%, giving it a market value of $6.1 billion, after the Wall Street Journal first reported the talks. Under CEO Arvind Krishna, IBM has focused on acquisitions […]
Exclusive-EU concerned about KKR, Telecom Italia deal impact on wholesale competition, sources say
By Foo Yun Chee and Elvira Pollina BRUSSELS/ROME (Reuters) – European Union antitrust regulators are asking rivals and customers whether proposed acquisition of Telecom Italia’s (TIM) fixed-line access network by U.S. investment firm KKR could hamper Italy’s wholesale market, people familiar with the matter said on Tuesday. Such regulatory worries could lead to a lengthy […]
As plastic treaty talks open, countries more divided than ever
By Valerie Volcovici (Reuters) -Countries are under pressure to make progress on a first-ever global plastics treaty this week, but they face tense negotiations in the Canadian capital with parties deeply divided over what the treaty should include as talks begin on Tuesday. If governments can agree on a legally binding treaty that addresses not […]
AI boom to fuel natural gas demand in coming years, report says
(Reuters) – A spike in power usage from artificial intelligence (AI) data centers could significantly boost natural gas demand in the second half of the decade, analysts at investment banker Tudor Pickering Holt & Co said in a report on Tuesday. As much as 8.5 billion cubic feet per day of natural gas could be […]
Egypt economy seen growing slower after IMF deal before picking up- Reuters poll
By Patrick Werr CAIRO (Reuters) – Egypt’s economy will grow slower than previously expected this year after it signed an $8 billion financial support package with the IMF that came with conditions, but growth will accelerate next year, a Reuters poll forecast on Tuesday. Egypt has also been clobbered by the Gaza crisis, which caused […]