Reuters US Business

By Jonathan Stempel (Reuters) -TD Bank was ordered by a U.S. regulator on Wednesday to pay nearly $28 million for repeatedly sharing inaccurate, negative information about its customers with credit reporting agencies, potentially tarnishing customers’ credit scores. The Consumer Financial Protection Bureau said that since 2015, TD provided wrong information about personal bankruptcies, credit card …

TD Bank ordered to pay $28 million by US CFPB for misreporting consumer credit data Read More »

By Jody Godoy ALEXANDRIA, Virginia (Reuters) – A Google executive told colleagues the goal for the company’s then-nascent online advertising business in 2009 was to “crush” rival advertising networks, according to evidence prosecutors presented at the tech titan’s antitrust trial on Wednesday. The statements underscored the U.S. Department of Justice’s claim that Google has sought …

Ex-Google exec said goal was to ‘crush’ competition, trial evidence shows Read More »

By Sinéad Carew and Shashwat Chauhan (Reuters) -All three major U.S. stock indexes closed higher on Wednesday with a boost from the technology sector offsetting investor disappointment at an early morning inflation report, which crushed hopes the Federal Reserve would cut interest rates by 50 basis points next week. The S&P 500 technology index finished …

Wall Street closes up on tech boost; inflation data dents hopes for big Fed rate cut Read More »

(Reuters) -AI heavyweight OpenAI is in talks to raise funds at a valuation of $150 billion, Bloomberg News reported on Wednesday, a move that would fortify its status as one of the biggest startups in the world. The company is discussing raising $6.5 billion from investors, the report said, citing people familiar with the matter, …

OpenAI in talks to raise funds at $150 billion valuation, Bloomberg News reports Read More »

By Hannah Lang (Reuters) – The Federal Reserve’s regulatory chief on Tuesday outlined major revisions to the Basel Endgame draft rule hiking bank capital, following intense industry pushback. The proposal, which the Fed is expected to publish in coming weeks, is subject to a vote by the central bank’s board. Here are the broad changes: …

Factbox-How regulators have overhauled contentious Basel Endgame capital hike rule Read More »

SAO PAULO (Reuters) -Amazon’s cloud computing arm, Amazon Web Services (AWS), will invest 10.1 billion reais ($1.8 billion) in Brazil through 2034 to expand its data center operations in the country, it said on Wednesday. The resources will be used to “expand, build, connect, operate and maintain data centers in Brazil,” the firm said in …

Amazon’s AWS to invest $1.8 billion in Brazil through 2034 Read More »

By Luc Cohen (Reuters) – Former cryptocurrency executive Caroline Ellison urged a federal judge not to send her to prison after she pleaded guilty over her role in the theft of $8 billion from customers of Sam Bankman-Fried’s bankrupt FTX exchange. In a court filing just before midnight on Tuesday, Ellison’s lawyers told U.S. District …

Bankman-Fried’s ex-girlfriend Ellison urges judge to spare her prison for FTX fraud Read More »

By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration has nearly completed a review of United Airlines it opened in March to ensure the carrier’s compliance with safety regulations, the agency’s head said on Wednesday. The FAA initiated a formal evaluation of the Chicago-based airline after a series of safety incidents earlier this year. FAA …

FAA head says safety review of United Airlines ‘almost finished’ Read More »

By Brendan Pierson (Reuters) – Baltimore said on Tuesday that it has settled with Walgreens over claims that the pharmacy operator fueled opioid addiction in the Maryland city, the latest in a series of settlements totaling $402.5 million ahead of a trial scheduled to begin next week. The announcement came a day after the city …

Baltimore settles with Teva, Walgreens ahead of scheduled opioid trial Read More »

By David Lawder WASHINGTON (Reuters) – Vice President Kamala Harris and Republican opponent Donald Trump have floated new tax breaks and spending plans, as they try to win votes by persuading Americans their ideas will do more to ease their financial burdens. Budget forecasters are struggling to keep up with the latest tweaks, and new …

How Harris’ and Trump’s tax and spending plans affect US debt Read More »