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By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer sentiment sagged to a six-month low in May as households worried about the higher cost of living and unemployment, but economists cautioned against drawing conclusions on the implications for the economic outlook. The larger-than-expected drop in sentiment reported by the University of Michigan on Friday was across …

US consumer sentiment at six-month low; inflation expectations rise Read More »

(Reuters) – The U.S. auto regulator on Friday opened a preliminary evaluation into about 6,813 Fisker’s Ocean vehicles over reports of inadvertent activation of the automatic emergency braking system. (Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Sonia Cheema)

By Byron Kaye SYDNEY (Reuters) -Elon Musk’s X has policies to take down harmful content when it chooses but should not be allowed to overrule Australian law in deciding what can be viewed there, a lawyer for the cyber regulator told a hearing into video of a bishop being stabbed. X, formerly Twitter, is fighting …

Australian regulator says Musk’s X should not set limits of internet law Read More »

SAN FRANCISCO (Reuters) – A federal judge on Thursday indicated a willingness to compel Elon Musk to testify again in the U.S. Securities and Exchange Commission’s investigation into his $44 billion takeover of Twitter. Lawyers for the billionaire appeared in a San Francisco courtroom on Thursday to urge U.S. District Judge Jacqueline Scott Corley to …

Elon Musk may be compelled to testify again in SEC’s Twitter takeover probe Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. Postmaster General Louis DeJoy defended the Postal Service’s 10-year restructuring plan in the face of harsh criticism from lawmakers as the agency reported a second quarter net loss of $1.5 billion. The loss for the three months ending March 31 was down from a net loss of $2.5 billion …

US Post Office chief defends restructuring plan as net loss narrows Read More »

(Reuters) -The U.S. Securities and Exchange Commission is investigating statements made by Boeing Co. about its safety practices after a mid-air panel blowout on a 737 MAX flight in January, Bloomberg News reported on Thursday. The SEC will examine whether the planemaker or its executives misled investors in violation of the Wall Street regulator’s rules, …

SEC investigating Boeing’s statements on its safety practices, Bloomberg News reports Read More »

By David French (Reuters) – The investment firms that took U.S. power plant operator Calpine Corp private six years ago are exploring options that include a company sale, an initial public offering or a stake divestment at a valuation of about $30 billion, including debt, according to people familiar with the matter. The deal deliberations …

Exclusive-Power producer Calpine explores options including $30 billion sale, sources say Read More »

By David French (Reuters) -The Dow Jones Industrial Average closed higher on Thursday, the seventh straight daily advance for the benchmark, as all three major U.S. indexes gained after weekly jobless claims data offered fresh hope for interest-rate cuts. U.S. Federal Reserve policy has been the main driver of investor sentiment in 2024. Renewed hopes …

Dow closes up to make it seven in a row, as jobs data boosts rate-cut hopes Read More »

By Brendan Pierson NEW YORK (Reuters) -Jury selection is expected to wrap up Thursday in the criminal racketeering trial of Sung Kook “Bill” Hwang over the 2021 collapse of his $36 billion fund Archegos Capital Management, setting the stage for opening statements and witness testimony next week. U.S. District Judge Alvin Hellerstein in Manhattan and …

Jurors to be chosen in Bill Hwang’s trial over Archegos collapse Read More »