Reuters US Business

By Andrew Goudsward (Reuters) – Law firm Fenwick & West has hired its own outside legal team as it faces scrutiny over its role advising now-bankrupt cryptocurrency exchange FTX, including from the company’s indicted founder Sam Bankman-Fried. Silicon Valley-founded Fenwick has turned to Gibson, Dunn & Crutcher as its advice becomes a focus of Bankman-Fried’s …

Fenwick law firm hires Gibson Dunn to defend work for bankrupt FTX exchange Read More »

By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve should not raise interest rates further or it would risk “needlessly” sapping the strength of the U.S. economy, Atlanta Federal Reserve President Raphael Bostic said on Wednesday in written remarks and a subsequent interview arguing officials need to wait longer for the impact of previous rate …

Atlanta Fed’s Bostic: Rates should stay steady from here Read More »

By Jody Godoy (Reuters) – Former Goldman Sachs banker Brijesh Goel’s trial on insider trading charges drew to a close on Tuesday, with his attorney saying he was framed by his friend and a prosecutor saying Goel had lied to a New York jury. Goel, a former Goldman Sachs vice president, faces securities fraud, conspiracy …

Ex-Goldman banker was ‘framed,’ attorney says at insider trial’s close Read More »

By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Trade Commission on Wednesday accused Amazon.com of enrolling millions of consumers into its paid subscription Amazon Prime service without their consent and making it hard for them to cancel, the agency’s latest action against the ecommerce giant in recent weeks. The FTC sued Amazon in federal court …

Amazon duped millions of consumers into enrolling in Prime, US FTC says Read More »

By Jonathan Stempel NEW YORK (Reuters) -JPMorgan Chase said the U.S. Virgin Islands gave Jeffrey Epstein more than $300 million in tax incentives and waived sex offender monitoring requirements, shielding the disgraced late financier as he gave cash and gifts to top officials. In a Tuesday night court filing, the largest U.S. bank described how …

Jeffrey Epstein got $300 million in US Virgin Islands tax incentives, JPMorgan says Read More »

LONDON (Reuters) – U.S.-based ACE Green Recycling, which has developed a lead battery recycling process with no greenhouse gas emissions, said it will deploy its technology to Israel’s Hakurnas Lead Works. The deal to set up the processing at Hakurnas’ facilities in Israel and Romania will progressively create 50,000 metric tons of annual lead battery …

Israeli lead producer to use ACE Green emissions-free recycling Read More »

PARIS (Reuters) – Pratt & Whitney is seeing “solid progress” in the aerospace supply chain after bottlenecks caused by the pandemic, Shane Eddy, president of engine maker Pratt & Whitney, said at the Paris Airshow on Wednesday. The Raytheon Technologies subsidiary, which has faced a backlash from airlines over durability problems and a shortage of …

Pratt & Whitney sees supply chain progress Read More »

(Reuters) -Commonwealth Bank of Australia on Wednesday cut its buffer rate for some borrowers refinancing their existing home loan to 1% from the industry standard of 3%, providing relief to many clients who would otherwise fail to qualify due to high interest rates. The country’s prudential regulator advises lenders to refinance home loans only if …

CBA lowers home loan buffer rates for some refinancing clients to 1% Read More »

WASHINGTON (Reuters) – Tesla Inc on Tuesday urged the Biden administration to finalize stricter heavy-duty emissions limits, arguing the rapid pace of electrification of larger vehicles should result in larger pollution cuts and more EVs. The California-based electric vehicle manufacturer said in comments made public Tuesday the Environmental Protection Agency (EPA) proposal in April did …

Tesla urges EPA to finalize tougher US heavy duty emissions cuts Read More »

(Reuters) -Visa has hired Chris Suh, the finance chief at Electronic Arts and a former executive at Microsoft, as its new CFO, the payments processor said on Tuesday. Suh is departing the videogame publisher just a year and a half after assuming his role at EA. Prior to that, he was the corporate vice president …

Visa names EA’s Chris Suh as finance chief Read More »