By Daniel Wiessner (Reuters) -A federal judge in Texas on Friday temporarily blocked a Biden administration rule from taking effect that would extend mandatory overtime pay to 4 million salaried U.S. workers. U.S. District Judge Sean Jordan in Sherman, Texas, said the U.S. Department of Labor rule that is set to go into effect on …
Texas wins court block on Biden overtime pay rule Read More »
By Greg Bensinger and Krystal Hu (Reuters) -Amazon.com hired away artificial intelligence startup Adept’s co-founders and some of its team in a move that echoes one by rival Microsoft, as it seeks to battle a perception that it is playing catch-up in AI. Adept said in a blog post Friday that cofounder and CEO David …
Amazon lures cofounders from startup Adept to bolster AI efforts Read More »
By Marianna Parraga HOUSTON (Reuters) -A U.S. court has been asked to postpone to Sept. 19 a hearing to present the winning bid in an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, according to a motion filed with the court on Friday. The Delaware court officer evaluating bids in a historic …
US court may put off hearing on Citgo bids to September Read More »
(Reuters) -Alaska Airlines said on Friday it has returned to Boeing the 737 MAX 9 plane that in January was involved in a mid-air door panel blowout. “They have taken possession of it and the registration has been changed,” an Alaska Airlines spokesperson said, adding an order for a new 737-10 has also been placed. …
Alaska Air returns 737 MAX 9 involved in mid-air blowout to Boeing Read More »
By Ankika Biswas, Lisa Pauline Mattackal and Carolina Mandl (Reuters) -U.S. stocks ended weaker on Friday after an early rally fizzled as investors digested in-line inflation data and weighed political uncertainty after the U.S. presidential debate. Nike had its steepest one-day fall in over two decades after a gloomy forecast. “I don’t think the inflation …
Wall Street ends lower as investors digest inflation data, presidential debate Read More »
By Jonathan Stempel NEW YORK (Reuters) – A federal judge said Visa and Mastercard can likely withstand a “substantially greater” settlement with merchants who said they overpaid on swipe fees than the $30 billion accord she rejected this week. U.S. District Judge Margo Brodie in Brooklyn made her assessment in an 88-page opinion released on …
Visa, Mastercard can likely handle settlement much bigger than $30 billion, judge says Read More »
(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 …
US army awards Lockheed Martin $4.5 billion multi-year Patriot Missiles contract Read More »
By Jonathan Stempel (Reuters) -Warren Buffett donated another $5.3 billion of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation and four family charities, his biggest annual donation since he began making them in 2006. Buffett’s donation boosted his overall giving to the charities to about $57 billion, including to the family charities in …
Warren Buffett donates record $5.3 billion Berkshire shares to charity Read More »
By Hannah Lang (Reuters) – The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users’ sales and exchanges of digital assets to the Internal Revenue Service. The new requirements aim to crack down on crypto users who may be failing to pay …
US Treasury finalizes new crypto tax reporting rules Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months, drawing the Federal Reserve closer to start cutting interest rates later this year. The report from the Commerce Department on Friday …
US inflation cools in May, boosting hopes of Fed rate cut Read More »
