Reuters US Business

By Michelle Price WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday proposed long-awaited regulations — including liquidity, redemption and pricing rule changes — to improve the resilience and transparency of the roughly $5 trillion U.S. money market fund industry. A critical source of short-term corporate and municipal funding, money market funds …

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ZURICH (Reuters) – A court acquitted the former chief executive of a Swiss private bank but fined the now-defunct lender 3.5 million Swiss francs ($3.8 million) on Wednesday for helping a Gulf businessman launder money to buy luxury property and cars. Eduardo Leemann, 65, had denied prosecutors’ allegations that as chief executive of Falcon Private …

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(Reuters) – JPMorgan Chase & Co has moved its annual healthcare conference, set to be held next month, online as concerns mount over the fast-spreading Omicron variant of the coronavirus. In an email to participants on Wednesday, the Wall Street bank said the event that was previously slated to happen in person in San Francisco …

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WASHINGTON (Reuters) – U.S. business inventory accumulation increased strongly in October, suggesting that restocking could again support economic growth this quarter even as motor vehicle inventories remain depressed because of shortages. Business inventories rose 1.2% after gaining 0.8% in September, the Commerce Department said on Wednesday. Inventories are a key component of gross domestic product. …

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WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday will propose a plan that would restrict how corporate executives trade their companies’ own stock and boost transparency. The market regulator’s trading plan rule changes would mandate that company executives disclose the existence and modifications of such agreements. The changes would also limit …

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OSLO (Reuters) – Norway’s Data Protection Authority (DPA) has handed dating app Grindr a reduced 65 million Norwegian crown ($7.14 million) fine over illegal disclosure of user data to advertisers, saying the company had moved to address issues regarding its practices. The DPA’s initial plan last January was to fine Grindr 100 million crowns, but …

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By Johan Ahlander and Helena Soderpalm STOCKHOLM (Reuters) – Swedish bank SEB said on Wednesday it had been hit with a 511 million euros ($575 million) tax demand from Germany and its head office in the country had been raided this week, both related to so-called cum-ex transactions. The bank denied any wrongdoing and said …

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