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(Reuters) -JPMorgan Chase and Co will pay civil penalties of about $350 million to regulators for reporting incomplete trading data to surveillance platforms, it said in a regulatory filing on Friday. In a response to government inquiries about its trading processes, the lender said certain trading and order data through its Corporate and Investment Bank …

JPMorgan to pay about $350 million penalty over trade reporting gaps Read More »

NEW YORK (Reuters) -Elon Musk can ask a U.S. District Court to review a magistrate judge’s order that he must testify in the Securities and Exchange Commission’s investigation of his $44 billion takeover of Twitter, according to a court notice filed on Friday. Lawyers for Musk on Thursday had said in a court filing they …

US judge says Musk can seek review of order in SEC subpoena matter Read More »

By David Randall and Saqib Iqbal Ahmed NEW YORK (Reuters) – Next week’s earnings report from chipmaker Nvidia could prove a gut check for one of the market’s hottest names, and for the artificial intelligence fever that has helped power gains for U.S. stocks in recent months. Excitement over the business potential of AI has …

High-flying Nvidia’s earnings could test US stock market’s AI dreams Read More »

(Reuters) -A labor union-backing shareholder wrote a letter to the U.S. Securities and Exchange Commission on Friday, saying that Starbucks has failed to disclose costs arising from anti-union campaigns, which was estimated at about $240 million. The Strategic Organizing Center (SOC), a coalition of North American labor unions, said the company “needs to immediately provide …

Union-backing shareholder asks Starbucks to disclose ‘anti-union spending,’ approaches SEC Read More »

By Daniel Wiessner (Reuters) – Amazon.com has joined rocket maker SpaceX and grocery chain Trader Joe’s in claiming that a U.S. labor agency’s in-house enforcement proceedings violate the U.S. Constitution, as the retail giant faces scores of cases claiming it interfered with workers’ rights to organize. Amazon in a filing made with the National Labor …

Amazon joins companies arguing US labor board is unconstitutional Read More »

By Howard Schneider and Michael S. Derby WASHINGTON/NEW YORK (Reuters) -A week of disappointing U.S. economic data, including stronger-than-expected inflation and weakening spending, has Federal Reserve policymakers doubling down on their wait-and-see approach to interest rate cuts this year, but not discouraged. The latest bit of bad news came early on Friday in the form …

Fed signals ‘patience’ on rate cuts as data disappoints Read More »

By Sheila Dang and Katie Paul (Reuters) – A group of 20 tech companies announced on Friday they have agreed to work together to prevent deceptive artificial-intelligence content from interfering with elections across the globe this year. The rapid growth of generative artificial intelligence (AI), which can create text, images and video in seconds in …

OpenAI, Meta and other tech giants sign effort to fight AI election interference Read More »

By Gursimran Mehar and Ananya Mariam Rajesh (Reuters) -Nike will cut about 2% of its total workforce, or more than 1,600 jobs, the sportswear giant said late on Thursday to lower expenses as demand for its shoes and sneakers comes under pressure. Higher rental and interest rates have led customers to cut back spending on …

Nike to cut about 2% jobs to lower costs as demand weakens Read More »

(Reuters) – Bond manager PIMCO said on Friday it has withdrawn from the Climate Action 100+ investor coalition, following the withdrawal of other fund firms. In a statement sent by a representative, PIMCO said “we have concluded that our Climate Action 100+ participation is no longer aligned with PIMCO’s approach to sustainability. PIMCO operates its …

Bond manager PIMCO withdraws from Climate Action 100+ investor coalition Read More »

By Ron Bousso LONDON (Reuters) – Gabon’s national oil company has agreed to acquire Carlyle’s Assala Energy after it used its right to preempt the sale of the business for $1.3 billion to France’s Maurel & Prom, the firms said on Friday. Maurel & Prom had agreed in August to acquire Assala Energy for $730 …

Gabon to buy Carlyle’s oil business, preempting $1.3 billion sale Read More »