By Marisa Taylor (Reuters) – Four U.S. lawmakers have asked the Securities and Exchange Commission to investigate whether Elon Musk committed securities fraud by allegedly misleading investors about the safety of a brain implant being developed by the billionaire’s firm Neuralink, according to a letter to the regulator. The request for an inquiry came from …
US lawmakers ask SEC to scrutinize Musk comments on Neuralink Read More »
By Dietrich Knauth NEW YORK (Reuters) -Crypto lender Genesis Global on Tuesday sued partner Gemini Trust Co, seeking to recover more than $689 million that customers of the companies withdrew during a “run on the bank” that caused Genesis to collapse into bankruptcy. Genesis in the lawsuit said up to 230,000 users in the two …
Genesis sues Gemini over $689 million in customer withdrawals Read More »
(Reuters) – Senior Cuban officials have over several weeks provided an increasingly dire snapshot of a deepening economic crisis in a series of televised prime-time appearances, revealing the extent of the downturn in unprecedented detail. Minister after minister have delivered the bad news as the import-dependent Communist-run country weathers a fourth year of crisis, scraping …
Cuban ministers reveal details of food, fuel shortages amid economic crisis Read More »
(Reuters) – OpenAI said on Tuesday it had reached an agreement for Sam Altman to return as CEO days after his ouster, capping frenzied discussions about the future of the startup at the center of the artificial intelligence boom. Here’s what analysts and investors say about the agreement: DANNI HEWSON, HEAD OF FINANCIAL ANALYSIS AT …
PARIS (Reuters) – Antoine Arnault, one of LVMH Chairman and CEO Bernard Arnault’s five children and heirs, will step back from the day-to-day management of upscale menswear label Berluti in January, kicking off a management reshuffle at several labels in the group. Arnault, who is in charge of image and environment at LVMH, and credited …
LVMH heir Antoine Arnault to step back from Berluti management role Read More »
By Subhadeep Chakravarty (Reuters) -Barclays said on Wednesday it no longer expects the U.S. Federal Reserve to raise interest rates in January, compared with an earlier forecast of a 25-basis-point hike. Rates will remain unchanged until December next year, the brokerage said. The brokerage expects the U.S. central bank to start trimming rates by 25 …
Barclays forecasts Fed to stand pat on rates in January Read More »
By Joseph White DETROIT (Reuters) -Ford Motor will scale back the investment, capacity and the number of jobs planned for an electric-vehicle (EV) battery plant in Michigan that has drawn fire from U.S. lawmakers for its use of technology supplied by Chinese battery maker CATL, the automaker said on Tuesday. Ford said it would restart …
Ford scales back Michigan battery plant, restarts construction Read More »
(Reuters) – Chip designer Nvidia forecast fiscal fourth-quarter revenue above Wall Street targets on Tuesday on expectations that improving supply chain dynamics will help it meet strong demand for its artificial intelligence chips. Nvidia, which outsources manufacturing to chipmakers like TSMC, has said it expects supply for its AI chips to improve each quarter, with …
Nvidia forecasts fourth-quarter revenue above estimates Read More »
By Howard Schneider WASHINGTON (Reuters) -U.S. Federal Reserve officials agreed at their last policy meeting that they would proceed “carefully” and only raise interest rates if progress in controlling inflation faltered, the minutes of the Oct. 31-Nov. 1 gathering showed on Tuesday. “All participants agreed that the Committee was in a position to proceed carefully,” …
Fed shifts into cautious policy mode as risks become more two-sided Read More »
By Steve Scherer OTTAWA (Reuters) – Canada’s deficit spending will be much higher than forecast in March and its debt will come down more slowly, the finance ministry said on Tuesday in its mid-year fiscal update, as it pledged new measures to boost housing supply. With interest rates at a two-decade high and inflation still …
Canada fiscal update sees higher deficits and debt, launches housing and green measures Read More »
