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By Chris Prentice NEW YORK (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Tuesday said it obtained an order to shut down an alleged Ponzi-like scheme run by two individuals who raised nearly $62 million from investors for a sham cannabis business. Since at least June 2019, Rolf Max Hirschmann and Patrick Earl …

US securities regulator shuts down ‘sham’ marijuana offering Read More »

By Jonathan Stempel NEW YORK (Reuters) -JPMorgan Chase & Co on Tuesday sought to shift blame for failing to snuff out sex crimes committed by the late Jeffrey Epstein, accusing the U.S. Virgin Islands of harboring and shielding the disgraced financier as he abused young women and girls over two decades. The largest U.S. bank …

JPMorgan accuses US Virgin Islands of harboring Jeffrey Epstein for two decades Read More »

By Saeed Azhar and Shreyashi Sanyal NEW YORK (Reuters) – Wall Street stocks finished sharply lower on Tuesday and short-term Treasury yields shot up as investor jitters grew over a lack of progress in U.S. debt limit talks. Representatives of U.S. President Joe Biden and congressional Republicans ended another round of debt ceiling talks on …

Wall St ends sharply lower on deadlocked debt ceiling talks Read More »

By Joey Roulette WASHINGTON (Reuters) -Richard Branson’s bankrupt satellite launch firm, Virgin Orbit, plans to sell the bulk of its Long Beach, California, headquarters to small-launch firm Rocket Lab USA Inc for $16 million, part of a roughly $36 million asset sale disclosed in a Tuesday court filing. Rocket Lab, the seasoned small-rocket company whose …

Virgin Orbit to sell its manufacturing facility to Rocket Lab Read More »

By David Shepardson WASHINGTON (Reuters) -California has asked the Biden administration to approve its plan to require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids, a landmark move that could speed the end of gasoline-powered vehicles, according to a letter seen by Reuters. The California Air …

Exclusive-California seeks EPA approval to ban sales of new gasoline-only vehicles by 2035 Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -Shares of U.S. mid-cap retailers mostly eased on Tuesday as the latest batch of quarterly results included reports from BJ’s Wholesale Club Holdings and other companies that provided more disappointments for the industry. Shares of BJ’s closed down 7.3% after the company reported quarterly revenue that missed analysts’ expectations. …

U.S. mid-cap retailers slip after latest batch of results Read More »

By David Morgan, Steve Holland and Richard Cowan WASHINGTON (Reuters) – Representatives of President Joe Biden and congressional Republicans ended another round of debt ceiling talks on Tuesday with no signs of progress as the deadline to raise the government’s $31.4 trillion borrowing limit or risk default ticked closer.     The two parties remain deeply …

No signs of progress from White House, Republicans in ‘tough’ debt ceiling talks Read More »

(Reuters) – New York state’s power grid met about 20% of its electricity demand with energy from the sun for one hour last week, marking the highest ever output from solar generation, the grid operator said on Tuesday. A record-setting 3,330 megawatts (MW) of solar power was produced during the noon hour on May 18, …

Record solar power generated in New York state -grid operator Read More »

SYDNEY (Reuters) – Bain Capital’s Virgin Australia airline is aiming for a A$1 billion listing on the Australian Securities Exchange (ASX) in November, according to a source with direct knowledge of the matter. At that size, the deal would be the largest new share sale in almost two years since GQG Partners raised A$1.18 billion …

Virgin Australia aims for November A$1 billion listing – source Read More »