WASHINGTON (Reuters) – The former head of Wells Fargo & Co’s retail bank agreed to pay a $3 million penalty to settle the U.S. Securities and Exchange Commission’s fraud charges for misleading investors about sales practices to inflate a performance metric, the SEC said on Tuesday. Carrie Tolstedt was charged in 2020 for her role …
Former Wells Fargo executive agrees to settle SEC fraud charges Read More »
(Reuters) – A Fidelity fund has marked down the value of its stake in Twitter for the third time since Elon Musk’s $44 billion takeover of the social media platform in October, a monthly disclosure by the investment firm showed on Sunday. Fidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s …
Fidelity marks down value of Twitter stake again Read More »
(Reuters) – Hewlett Packard Enterprise Co missed Wall Street estimates for second-quarter revenue on Tuesday, as clients scale down spending on tech, including cloud services, amid an economic slowdown. Shares of the Texas-based IT company fell 4% after the bell. The stock has declined nearly 3% so far this year. For some of the largest …
Hewlett Packard Enterprise misses quarterly revenue estimates Read More »
By Daniel Wiessner (Reuters) – A U.S. labor board official on Tuesday said requiring workers to sign agreements not to join competing companies is usually illegal, the latest bid by government regulators to rein in the practice. National Labor Relations Board (NLRB) General Counsel Jennifer Abruzzo in a memo to agency lawyers said so-called “noncompete …
Noncompete agreements violate US labor law, official says Read More »
By Carolina Mandl NEW YORK (Reuters) – Nvidia Corp’s debut in the club of U.S. companies valued at $1 trillion on Tuesday may have given a boost to a number of portfolio managers who bought in to the stock, according to data revealed in first-quarter hedge fund filings, such as Australia listed boutique investment firm …
Investors who showed Q1 bets on Nvidia may have got boost as it joined $1 trillion club Read More »
By Mike Scarcella (Reuters) – Cox Media Group LLC, Fox Corp and CBS Corp have agreed to pay a combined $48 million to resolve civil antitrust claims in U.S. Court that accuse them of a conspiracy to artificially fix the prices of spot advertising on broadcast television. Cox has agreed to pay $37 million to …
Cox Media, other broadcasters to pay $48 million to end price-fixing claims Read More »
By Allison Lampert and Clark Mindock (Reuters) – Delta Air Lines is facing a proposed class action lawsuit over advertising touting the U.S. carrier as carbon-neutral, according to a complaint filed on Tuesday in California federal court. The complaint, filed on behalf of a California resident who bought Delta tickets to engage in “more ecologically …
Delta Air Lines faces proposed U.S. class action over carbon neutral claims Read More »
By Valerie Volcovici and Timothy Gardner WASHINGTON (Reuters) – The bipartisan U.S. debt deal’s provisions to speed up energy infrastructure permitting will make it easier to build fossil fuel and clean energy projects but failed to tackle the mammoth issue of building transmission and pipelines needed to get their production to consumers. The Biden administration …
Analysis-US debt deal’s energy permitting reforms leave thorniest issues for later Read More »
LONDON (Reuters) – The cost of insuring exposure to a U.S. debt default fell further on Tuesday, reflecting investor optimism over a tentative deal by U.S. lawmakers to raise the $31.4 trillion debt ceiling. Trading picked up on Tuesday after much of Europe and the United States were closed on Monday for holidays. In mid-morning …
Cost of insuring against US default contracts further on debt bill hopes Read More »
By Davide Barbuscia NEW YORK (Reuters) – News of a debt ceiling agreement still leaves uncertainties on the U.S. credit outlook, analysts said, in addition to the immediate risk that Congress may not pass the proposed deal before the country runs out of cash. Democratic President Joe Biden and the top Republican in Congress, House …
Risks lie ahead for US credit standing after tentative debt ceiling deal Read More »
