Reuters US Business

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy added the fewest jobs in 2-1/2 years in June, but persistently strong wage growth pointed to still-tight labor market conditions that most certainly ensure the Federal Reserve will resume raising interest rates later this month. The Labor Department’s closely watched employment report on Friday also showed …

US job gains smallest in 2-1/2 years; labor market still tight Read More »

By Jonathan Stempel (Reuters) – Elon Musk has sued the elite law firm Wachtell, Lipton, Rosen & Katz to recover most of a $90 million fee it received from Twitter for defeating his bid to walk away from his $44 billion buyout of the social media company. The complaint by Musk’s X Corp, which owns …

Elon Musk sues Wachtell law firm to recoup fees from Twitter buyout Read More »

By Jody Godoy (Reuters) – Twitter’s claim that Meta Platforms stole trade secrets to build its new microblogging site may be the first volley in a legal battle between the social media giants, but experts say Twitter would have to clear a high hurdle if it sues. In a letter sent on Wednesday, Twitter alleged …

Twitter may face difficulties showing Meta stole trade secrets Read More »

(Reuters) – A U.S. court of appeals on Friday rejected Venezuela’s bid to prevent six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets. The decision allows the six to move ahead with their about $3 billion in combined claims against Venezuela …

U.S. appeals court upholds Venezuela creditors ability to sue Read More »

(Reuters) – National Australia Bank (NAB) on Friday said it would refresh its approach to like-for-like refinancing criteria to help customers who would otherwise fail to meet an industry standard that assesses their ability to repay loans. “We will be refreshing our existing approach to support eligible refinance customers switch to NAB, who are considered …

National Australia Bank to change home loan refinancing criteria Read More »

By Rajesh Kumar Singh and Diane Bartz CHICAGO/WASHINGTON (Reuters) – JetBlue Airways’ decision to abandon its alliance with American Airlines has improved its chances in the trial over a $3.8 billion deal to buy Spirit Airlines, but may not be enough to hand it a victory, antitrust experts said. In its lawsuit filed in March …

Analysis-Will abandoning American help JetBlue’s Spirit merger? Not by much Read More »

By Jonathan Stempel (Reuters) – A federal judge said Rivian Automotive must face a lawsuit claiming it defrauded shareholders during and after its blockbuster 2021 initial public offering by concealing that had underpriced its electric vehicles, leading to unpopular price hikes. U.S. District Judge Josephine Staton in Los Angeles said shareholders could try to prove …

Rivian must face lawsuit claiming it defrauded IPO investors over vehicle prices Read More »

(Reuters) – Bausch + Lomb acquired Johnson & Johnson’s eye and contact lens drops brand Blink for $106.5 million, marking its second deal in two weeks to bolster the contact lens maker’s portfolio of eye care products. J&J’s Blink portfolio of over-the-counter drugs include several eye drops and contact lens rewetting drops that are used …

Bausch + Lomb expands eye-care portfolio with J&J’s Blink Read More »

By Hannah Lang (Reuters) – Time is running out for Digital Currency Group to agree on a deal to restructure its bankrupt crypto lending unit Genesis after its largest creditor Gemini – the crypto company founded by the Winklevoss twins – set Thursday afternoon as the final deadline before the company pursues litigation. The lending …

Deadline set by crypto’s Winklevoss looms for Genesis repayment deal Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators said on Thursday they are seeking updated responses and current data for an ongoing probe into 830,000 Tesla vehicles and the automaker’s advanced driver assistance system Autopilot. The National Highway Traffic Safety Administration (NHTSA) sent Tesla a letter on July 3 seeking updates to questions it …

US agency seeks updated responses from Tesla in Autopilot probe Read More »