Reuters US Business

By David Lawder WASHINGTON (Reuters) – The U.S. government will begin defaulting on its payment obligations between early June and early August without an increase in the federal debt limit, the Bipartisan Policy Center said on Tuesday, flagging pressure from a drop in tax revenue. The front end of the centrist think tank’s latest estimate …

US debt limit default could hit in early June to early August -think tank Read More »

By Jarrett Renshaw and Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden meets Republican House Speaker Kevin McCarthy and other congressional leaders at the White House on Tuesday afternoon for closed-door talks as a potentially catastrophic June default looms. The 4 p.m. EDT (2000 GMT) meeting is not expected to produce anything close to …

What to watch for in the Biden-McCarthy debt ceiling meeting Read More »

By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried, who has long denied stealing from customers of his FTX cryptocurrency exchange, on Monday said prosecutors charged him with “troubling” haste and asked a U.S. judge to throw out 10 of the 13 criminal counts against him. In a filing in Manhattan federal court, Bankman-Fried’s lawyers said …

Indicted FTX founder Bankman-Fried urges court to toss charges Read More »

SHANGHAI (Reuters) – The American Chamber of Commerce in Shanghai said on Tuesday it was concerned about reports of investigations into U.S. due diligence and consulting firms in China and urged authorities to provide more guidance for the sector. “We are concerned by recent reports about investigations of US companies in China that specialize in …

China should set clear rules for due diligence sector amid probes – US business lobby Read More »

By David Shepardson WASHINGTON (Reuters) -A group of seven U.S. senators on Monday questioned Tesla Inc’s use of forced arbitration clauses in employee and consumer contracts, arguing that they prevent bringing discrimination claims and consumer safety complaints to court. The letter, whose authors include Senator Richard Blumenthal, a Democrat, to CEO Elon Musk cited numerous …

Seven US senators raise concerns about Tesla use of forced arbitration clauses Read More »

(Reuters) -Social media platform Twitter Inc will remove accounts that have been inactive for several years, CEO Elon Musk said in a tweet on Monday. Musk added that users on the micro-blogging platform could see a drop in follower count. According to Twitter’s policy, users should log in to their account at least once every …

Twitter to remove inactive accounts Read More »

By Niket Nishant and Chibuike Oguh (Reuters) -PacWest Bancorp shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender’s decision to slash its quarterly dividend failed to stem worries about its financial stability. PacWest announced on Friday it would pay a dividend of just 1 cent per …

PacWest shares pare gains after dividend cut fails to stem market fears Read More »

By Ross Kerber (Reuters) – Vanguard Group, the largest provider of mutual funds, has secured regulatory approval to continue to own big stakes in U.S. power utilities, overcoming Republican concerns over its environmental, social and governance (ESG) policies. Various Republican politicians and officials had questioned the company’s application to the Federal Energy Regulatory Commission (FERC), …

Exclusive-Vanguard overcomes Republican challenge to US utility stakes Read More »