Business

EU backs crypto anti-money laundering rules

European Union negotiators on Wednesday reached a provisional agreement on anti-money laundering rules for cryptocurrencies that would spur crypto firms to check their customers’ identities, in the latest regulatory tightening of the freewheeling sector. The rules, opposed by major U.S. exchange Coinbase Global Inc (COIN.O), would also require crypto firms to report suspicious transactions to […]

Business

BP, Shell to cover employee travel for treatment after Roe v. Wade

Oil producer BP PLC (BP.L) on Wednesday joined Shell PLC (SHEL.L) in pledging to cover travel expenses for U.S. employee health care treatment following a Supreme Court decision overturning the Constitutional right to an abortion. Neither of the two European companies explicitly named abortion in their statements. They were the first oil producers to update […]

Business

Truckmaker MAN to raise prices to tackle energy, raw material inflation

German commercial vehicle maker Traton’s (8TRA.DE) MAN unit plans to raise the prices of its trucks as expensive energy and raw materials ramp up costs but demand remains high, media group Funke reported on Thursday. Market leader Daimler Truck (DTGGe.DE) is also passing high costs, exacerbated by the war in Ukraine, to customers. “Trucks are […]

Business

Britishvolt signs deal with Posco Chemical for battery materials

Electric vehicle (EV) battery startup Britishvolt has signed a deal with South Korean battery materials firm Posco Chemical (003670.KS) designed to secure the supply of cathode and anode materials, the two companies said on Thursday. The two companies have signed a memorandum of understanding and are working on a longer-term agreement, which “paves the way […]

Business

U.S. sues to block Booz Allen from buying EverWatch

The U.S. Justice Department filed a lawsuit on Wednesday asking a court to stop Booz Allen Hamilton’s (BAH.N) planned purchase of rival EverWatch Corp, according to a complaint filed in U.S. District Court in Maryland. The deal was announced in March. Terms of the transaction were not disclosed. Booz Allen did not immediately respond to […]

Business

Brazil Volkswagen workers approve agreement for $193 mln investment

Volkswagen Group (VOWG_p.DE) workers at its Taubate plant, in the Brazilian state of Sao Paulo, approved on Wednesday an agreement allowing an investment of 1 billion reais ($192.97 million) for the production of a new model starting in 2025, the local metalworkers’ union said in a statement. The plant, which currently produces the Gol and […]

Business

Markets challenge Fed timeline, threatening more swings in Treasuries

Bond traders expect the gyrations convulsing U.S. Treasuries to continue in the second half of 2022 as investors challenge the Federal Reserve’s projections for how far it will tighten monetary policy to quell the worst inflation in decades. At issue is the expected high-water mark for the Fed’s rate hiking cycle. That number has fluctuated […]