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WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Tuesday that Charter Communications (CHTR.O) will pay a $25 million penalty for unauthorized stock buybacks. It said the company violated internal accounting controls requirements when it engaged in stock buybacks not authorized by its board of directors. (Reporting by Jasper Ward)

(Reuters) – Lithium miner Livent said on Tuesday its proposed $10.6 billion merger with Australia’s Allkem had received all the required pre-closing regulatory approvals. The deal is expected to close by Jan. 4 if Allkem shareholders vote in its favor at a Dec. 19 meeting. The new company, to be called Arcadium Lithium, will be …

Allkem-Livent merger gets regulatory approvals before shareholder vote Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – Several hedge funds expanded their bets on big technology stocks including Amazon, Microsoft and Meta Platforms even as these companies stumbled some during the third quarter after having fueled broad market gains this year, new regulatory filings show. Tiger Global Management, a widely watched fund in the investment …

Investors expand bets on tech stocks as sector still fuels market gains -filings Read More »

By Chibuike Oguh NEW YORK (Reuters) – Shares of Fisker Inc fell by more than 24% to an all-time low on Tuesday after the electric-vehicle startup slashed its production targets as it struggles to ramp up deliveries. Fisker expects to produce between 13,000 and 17,000 electric vehicles in 2023, down from its prior projection of …

EV maker Fisker plunges to all-time low after cutting production target Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks closed sharply higher on Tuesday, led by the Nasdaq, as softer-than-expected inflation data supported the view that the Federal Reserve may be done raising interest rates. The rate-sensitive S&P 500 real estate and utilities sectors had their biggest daily percentage gains since November 2022, and the …

Wall St jumps as data supports view Fed may be done hiking rates Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices were unchanged in October as Americans paid less for gasoline, and the annual rise in underlying inflation was the smallest in two years, bolstering the view that the Federal Reserve was probably done raising interest rates. Though rents continued to rise last month, the pace of …

Slowing US inflation boosts hopes Fed done with rate hikes Read More »

NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) filed 784 enforcement actions in the fiscal year that ran through September, garnering $4.95 billion in penalties and other financial remedies, the agency said in a statement on Tuesday. The total financial remedies in fiscal 2023 were the second-highest in SEC history, following last year’s …

US SEC enforcement collected nearly $5 billion in financial remedies last year Read More »

By Divya Rajagopal TORONTO (Reuters) -As Glencore prepares for a long grind to convince Canada of the virtues of the Swiss trader-led consortium’s $9 billion bid for Teck Resources’ coal unit, investors and lawyers are optimistic about the deal approval despite the government’s increased scrutiny of foreign investments. In recent years, Canada has tightened the …

Canada likely to greenlight Glencore-Teck deal despite greater scrutiny of foreign investments Read More »

By Jonathan Stempel and Nate Raymond (Reuters) -A federal judge on Tuesday rejected efforts by major social media companies to dismiss nationwide litigation accusing them of illegally enticing and then addicting millions of children to their platforms, damaging their mental health. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, ruled against Alphabet, which operates …

Social media companies must face youth addiction lawsuits, US judge rules Read More »