(Reuters) -The U.S. Army awarded Lockheed Martin a multi-year contract worth $4.5 billion for its air defense Patriot Missiles system, the Pentagon said on Friday. The Patriot system is one of an array of sophisticated air defense units supplied by the West to help Ukraine, as it continues its defense against Russia’s invasion. The contract…
By Stephanie Kelly, Steve Holland and Nandita Bose (Reuters) -U.S. President Joe Biden’s shaky performance against Republican rival Donald Trump on Thursday rattled Democrats and prompted some strategists to ask whether their party should take the unprecedented step of replacing him as their candidate. Biden supporters had hoped Thursday night’s debate would dispel worries that…
(Reuters) – Pershing Square USA, a fund managed by billionaire Bill Ackman, said on Friday it plans to offer shares at $50 each in its initial public offering in New York. Ackman is launching a new investment portfolio that will be available to anyone who can invest in the United States, including retail investors. The…
By Chris Prentice and Pete Schroeder WASHINGTON (Reuters) – The Supreme Court’s move to curb federal agency powers could curtail efforts by the U.S. Securities and Exchange Commission to establish new rules to police Wall Street and invite more litigation, legal experts said in the wake of Friday’s landmark ruling. The court overturned a 1984…
(Reuters) – The White House is seeking an additional $4 billion in funding from Congress for disaster needs, including to help rebuild the Baltimore bridge after its collapse and in response to last year’s fires in Maui, the Office of Management and Budget said on Friday. Funds would also help survivors of tornadoes in Iowa,…
(Reuters) – The U.S. Supreme Court’s ruling on Thursday scuttling OxyContin maker Purdue Pharma’s bankruptcy settlement could have a sweeping impact on how U.S. bankruptcy courts handle cases aimed at resolving sprawling litigation. Here is a look at some ongoing bankruptcy cases that could be impacted. CATHOLIC DIOCESES More than two dozen Catholic diocese have…
(Reuters) – The U.S. Justice Department has charged 193 people, including 76 doctors, nurses and other medical professionals, with participating in health care fraud schemes worth $2.75 billion, the agency said on Thursday. The government seized more than $231 million in cash, luxury vehicles, gold and other assets in the law enforcement action that spanned…
By Tom Hals WILMINGTON, Delaware (Reuters) – Tesla is claiming Elon Musk won his legal battle over his $56 billion pay package because shareholders voted for the compensation, despite a judge rescinding it earlier this year, according to court filing made public on Friday. The company’s filing comes two weeks after Tesla shareholders voted to…
By Daniel Wiessner (Reuters) -A U.S. appeals court on Thursday revived a software engineer’s proposed class action claiming Meta Platforms refused to hire him because it preferred to give jobs to foreign workers who are paid lower wages. The San Francisco-based 9th U.S. Circuit Court of Appeals in a 2-1 ruling said that a Civil…
By Hannah Lang (Reuters) – Financial regulators in 25 U.S. states announced on Wednesday a settlement with cryptocurrency investment platform Abra and its CEO for operating without required state licensing. As part of the settlement, Abra agreed to stop making cryptocurrencies available for buying and trading to U.S. Abra Trade customers as of June 15,…
