Reuters US Business

By Mike Scarcella (Reuters) – The U.S. Supreme Court on Wednesday heard arguments on whether the U.S. Securities and Exchange Commission (SEC) has the power to pursue defendants in its own in-house tribunal rather than in federal court. The outcome of the case could affect how the SEC and other U.S. federal agencies enforce regulations. …

Factbox-US Supreme Court case on SEC could have wide impact on agency enforcement Read More »

By David Shepardson WASHINGTON (Reuters) -The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. after winning new contracts with the Detroit Three automakers. The Detroit-based UAW said workers at 13 nonunion automakers were announcing simultaneous campaigns across the country …

UAW launches bid to organize Tesla and ‘entire non-union auto sector’ in US Read More »

By Hannah Lang (Reuters) – The U.S. government will cut off cryptocurrency companies from the broader U.S. economy if they fail to block and report illicit money flows, Deputy Treasury Secretary Wally Adeyemo warned the industry on Wednesday. Speaking at an event hosted by the Blockchain Association, Adeyemo said that crypto companies need to do …

US will be forced to curtail crypto if industry fails to act on illicit finance threats- official Read More »

By Anirban Sen and Deena Beasley (Reuters) – Major U.S. health insurer Cigna is in merger talks with Humana, a source familiar with the matter said on Wednesday, a deal that would give Cigna a much greater foothold in the fast-growing market for managing federal Medicare plans for older Americans. The companies are discussing a …

US health insurers Humana, Cigna in talks to merge -source Read More »

By Paritosh Bansal (Reuters) -In recent weeks top U.S. officials have raised concerns over a hedge fund trade that profits from tiny price differences in Treasuries, worried it could present a risk to financial stability. No one knows, though, how big that trade really is. Researchers from the U.S. Federal Reserve and the Office of …

In the Market: Regulators look to pry open the dark corners of Treasury markets Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – Jeff Ubben, one of Wall Street’s most prominent activist investors, is shutting down Inclusive Capital Partners, a new firm designed to focus on social investing, three years after starting it. The Wall Street Journal reported on Wednesday that the firm is winding down its funds and is returning …

Activist investor Ubben shutting down Inclusive Capital -WSJ Read More »

By Stephen Culp NEW YORK (Reuters) -U.S. stocks edged lower on Wednesday as a robust upward GDP revision eased recession fears, while Federal Reserve officials’ remarks raised questions about the duration of the central bank’s restrictive policy ahead of inflation data due early Thursday. The Nasdaq joined the S&P 500 in negative territory, while the …

S&P 500 wobbles to lower close on mixed Fed messages, strong GDP data Read More »

By David Shepardson WASHINGTON (Reuters) -The chief executives of social media companies Meta, X, TikTok, Snap and Discord will testify on online child sexual exploitation at a Jan. 31 U.S. Senate hearing, the Senate Judiciary Committee said on Wednesday. Senator Dick Durbin, the panel’s Democratic chairman and the ranking Republican Lindsey Graham said Discord and …

TikTok, Meta, X CEOs to testify at US Senate hearing in January Read More »

WASHINGTON (Reuters) – Verizon-subsidiary TracFone Wireless agreed to pay $23.5 million to resolve a Federal Communications Commission investigation into allegations it violated rules for two government programs, the agency said Wednesday. Following its acquisition by Verizon in late 2021, TracFone identified instances in which it may have violated rules for two programs to help lower …

Verizon-subsidiary TracFone to pay $23.5 million to resolve FCC probes Read More »

By Hadeel Al Sayegh DUBAI (Reuters) -Saudi Arabian Prince Alwaleed Bin Talal’s investment company Kingdom Holding said on Wednesday it raised its ownership in Citigroup to 2.2% after acquiring from the prince a stake in the bank worth about $450 million. The company previously owned 1.6% of the Wall Street lender, it told the Saudi …

Saudi’s Kingdom Holding buys $450 million stake in Citigroup from Alwaleed Read More »