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WASHINGTON (Reuters) – U.S. clean energy tax subsidies under President Joe Biden’s signature Inflation Reduction Act will boost U.S. budget deficits by $825 billion over the next 10 years, Congressional Budget Office director Philip Swagel said on Friday, far above the initial $270 billion 10-year estimate. Swagel told reporters that higher cost estimates are due …

US clean energy tax subsidies to cost $825 billion over 10 years, CBO says Read More »

By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the …

Federal Reserve withdraws from global regulatory climate change group Read More »

(Reuters) -The U.S. Securities and Exchange Commission on Friday said Digital Currency Group Inc. and the CEO of its now-defunct subsidiary Genesis Global Capital LLC have agreed to pay a combined $38.5 million in civil penalties to settle charges they misled investors about Genesis’s financial condition. Regulators found that DCG and Genesis chief Soichoro Moro …

Digital Currency Group, former Genesis CEO to pay $38.5 million over SEC charges Read More »

By Ernest Scheyder (Reuters) – The U.S. Department of Energy has finalized a $996 million loan for ioneer’s Rhyolite Ridge lithium project, according to documents reviewed by Reuters, an increase of $296 million from a preliminary funding offer and a move aimed at boosting President Joe Biden’s green energy legacy. Shares of ioneer jumped 15% …

Biden boosts loan for ioneer’s Nevada lithium mine to nearly $1 billion Read More »

By Manya Saini, Niket Nishant (Reuters) -A raft of U.S. banks reported higher fourth-quarter profits on Friday, extending a winning streak for the industry as an upswing in capital markets alleviated a hit from weaker loan demand. Long believed to be the stronghold of Wall Street heavy hitters such as JPMorgan Chase and Goldman Sachs, …

US mid-sized banks ride industry upswing on robust fee income Read More »

(Reuters) – The U.S. auto safety regulator closed its probe into 6,971 Fisker Ocean SUVs on Friday over inadvertent activation of the automatic emergency braking system, as it does not expect to get further information from the bankrupt EV maker. Fisker filed for bankruptcy protection in June, citing a hyper-competitive EV market and operational challenges …

US auto safety regulator closes probe into nearly 7,000 Fisker electric SUVs Read More »

By Chris Prentice and Jonathan Stempel (Reuters) -Vanguard Group will pay $106.4 million to settle U.S. Securities and Exchange Commission charges alleging it failed to disclose important tax information about its popular target-date funds, resulting in hundreds of thousands of ordinary investors getting stuck with inflated tax bills. The settlement stemmed from Vanguard’s December 2020 …

Vanguard to pay $106 million in SEC accord after saddling investors with big tax bills Read More »

By Scott DiSavino (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row to the lowest since December 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator …

US drillers cut oil and gas rigs to lowest since Dec 2021, Baker Hughes says Read More »