By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts. A benign reading on inflation calmed fears about a renewal in price pressures and strong …
Wall Street slips after rally as earnings, data eyed Read More »
By Jonathan Stempel (Reuters) – The FDIC on Thursday sued 17 former executives and directors of Silicon Valley Bank, seeking to recover billions of dollars for alleged gross negligence and breaches of fiduciary duty that caused the bank’s March 2023 collapse, one of the largest U.S. banking failures. In a complaint filed in San Francisco …
FDIC sues 17 former Silicon Valley Bank executives, directors over collapse Read More »
By Shariq Khan and Nicole Jao (Reuters) -Colonial Pipeline has made progress in identifying the source of a leak on its main gasoline artery and estimates Line 1 will restart on Friday, earlier than previous expectations, the company said on Thursday. Line 1, one of two mainlines on the more than 5,500-mile (8,850-km) Colonial system, …
Colonial Pipeline expects main gasoline artery to restart on Friday Read More »
NEW YORK (Reuters) – The United States should keep oversight of potential problems in the U.S. bond market, President-elect Donald Trump’s Treasury Secretary pick Scott Bessent told Congress on Thursday, referring to Wall Street billionaire Howard Lutnick’s plan to clear Treasury futures through a UK firm. Lutnick’s BGC Group brokerage last year launched a futures …
Trump’s Treasury pick Bessent says US must keep oversight of Treasuries Read More »
WASHINGTON (Reuters) -U.S. automaker General Motors and its subsidiary OnStar agreed not to disclose sensitive vehicle geolocation and driver behavior data to consumer reporting agencies for five years, the U.S. Federal Trade Commission said on Thursday. The agency alleged the largest U.S. automaker collected, used, and sold drivers’ precise geolocation data and driving behavior information …
GM agrees to 5-year ban on selling drivers’ location data Read More »
WASHINGTON (Reuters) -The U.S. Federal Trade Commission said on Thursday it has referred to the Justice Department a complaint against Snap Inc that alleges its messaging app Snapchat used an artificial-intelligence chatbot that harmed young users. The consumer protection agency provided no further detail on the alleged harm from the My AI chatbot, but said …
US FTC refers complaint about Snapchat use of AI chatbot to Justice Department Read More »
(Reuters) -Coffee giant Starbucks said on Thursday that Mellody Hobson, the lead independent director of its board, will depart after a tenure of nearly two decades with the company. Hobson previously served as the chairwoman of Starbucks from March 2021 to September 2024, making her the only African American woman to chair a Fortune 500 …
Starbucks lead independent director Mellody Hobson to step down Read More »
By Jonathan Stempel (Reuters) -A federal judge on Thursday dismissed a lawsuit accusing Lyft of defrauding shareholders by waiting too long to correct a mistake in an earnings release that caused the ride-sharing company’s stock price to gyrate wildly. U.S. District Judge Trina Thompson in San Francisco said shareholders in the proposed class action did …
Lyft wins dismissal of shareholder lawsuit over earnings report error Read More »
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Thursday settled charges against hedge fund Two Sigma over failure to address known vulnerabilities in its investment models, the regulatory agency said. Two Sigma voluntarily repaid $165 million to impacted funds and accounts during the SEC’s investigation and agreed to pay $90 …
SEC settles charges against US hedge fund over investment model vulnerabilities Read More »
By Andy Sullivan WASHINGTON -Homeowners in areas most at risk of damage from hurricanes, wildfires and other climate perils pay far more for insurance than those who live in the least exposed areas, according to a U.S. Treasury Department study released on Thursday. The survey found homeowners living in areas most at risk paid an average …
US home insurance costs more expensive in areas of climate risk, study finds Read More »
