By Mike Scarcella (Reuters) – Elon Musk’s social media platform X on Tuesday sued a global advertising alliance and several major companies, including Mars and CVS Health, accusing them of unlawfully conspiring to boycott the site and causing it to lose revenue. X filed the lawsuit in federal court in Texas against the World Federation…
By Jonathan Stempel NEW YORK (Reuters) – A federal appeals court on Tuesday said a Citigroup vice president was not entitled to a share of a $400 million civil fine that the bank agreed to pay in October 2020 over its risk management failures. The 2nd U.S. Circuit Court of Appeals in Manhattan said Tamika…
By Lewis Krauskopf NEW YORK (Reuters) – Shares of utilities companies are presenting investors with a rare bright spot in the U.S. stock selloff, as turbulent markets prompt a shift away from the high-flying technology stocks that have led gains for most of the year. Utilities has been the top-performing S&P 500 sector since the…
(Reuters) – Piper Sandler has agreed to pay a total of $16 million as a civil penalty to U.S. regulators to resolve investigations into its record-keeping practices, the investment banking firm said on Tuesday. The firm will pay $14 million to the U.S. Securities and Exchange Commission (SEC) and $2 million to the Commodity Futures…
By Makailah Gause NEW YORK (Reuters) – The financial market upheaval of the last several days may soon offer a silver lining to millions of U.S. households: Mortgage rates look set to fall further, offering an opening for those eager to get a toehold in an expensive housing market and an opportunity for others who…
(Reuters) -Lucid Group said on Monday its largest shareholder, Saudi Arabia’s Public Investment Fund, will inject up to $1.5 billion in cash, as the electric vehicle maker looks to add new models to its product line. The EV maker’s shares, which closed down 3.9%, jumped 12% in extended trading. The deal comes just ahead of…
(Reuters) – Worries over a delay in the launch of Nvidia’s upcoming artificial-intelligence chips may be exaggerated, analysts said, as they do not expect the setback to have a big impact on the chip giant’s revenue or demand. According to media reports, Nvidia’s Blackwell chips may face delays of three months or more due to…
(Reuters) -Share markets around the world tumbled and bonds rallied on Monday as fears the United States could be heading for recession sent investors rushing from risk assets while wagering interest rates will have to fall rapidly to rescue growth. Japan’s Nikkei shed a staggering 12% to hit nine-month lows, entering bear market territory and…
(Reuters) – A surprisingly weak U.S. employment report for June has turned Wall Street confidence on a soft landing into near panic that a recession is looming, prompting major firms to change forecasts for Federal Reserve easing this year to more aggressive interest rate cutting. Employers added just 114,000 jobs in July, the U.S. Labor…
By Niket Nishant and Manya Saini (Reuters) – The next U.S. administration will be “constructive” on crypto regardless of which party wins, Coinbase CEO Brian Armstrong said late on Thursday, underscoring the industry’s growing political influence ahead of the November election. The highly volatile crypto sector is seen as a risky fringe industry and has…
