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WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Tuesday called for quicker action to resolve several outstanding sovereign debt restructuring cases and urged the International Monetary Fund to press all bilateral creditors to finalize such deals. The Treasury said Yellen raised the issue during meetings with IMF Managing Director Kristalina Georgieva and Spanish Economy Minister …

Yellen urges IMF to press creditors to finalize debt restructurings Read More »

By Daniel Wiessner (Reuters) -A federal jury in San Francisco on Monday ordered Tesla Inc to pay about $3.2 million to a Black former employee after the electric-vehicle maker was found to have failed to prevent severe racial harassment at its flagship assembly plant in California. The verdict came after a week-long trial in the …

Jury orders Tesla to pay $3.2 million to Black ex-worker in US race bias case Read More »

By Julie Steenhuysen CHICAGO (Reuters) – The U.S. National Institute on Aging (NIA) is funding a 6-year, up to $300 million project to build a massive Alzheimer’s research database that can track the health of Americans for decades and enable researchers to gain new insights on the brain-wasting disease. The NIA, part of the government’s …

Exclusive-US to build $300 million database to fuel Alzheimer’s research Read More »

By Daniel Wiessner (Reuters) – A federal jury on Monday ordered Tesla Inc to pay about $3.2 million to a Black former factory worker who won a lawsuit accusing the electric car maker of tolerating severe racial harassment at its flagship Fremont, California assembly plant. The case is one of several involving working conditions at …

Explainer-Tesla’s legal troubles: what’s next after $3 million race bias verdict? Read More »

By Chris Prentice NEW YORK (Reuters) -Bank of America’s investment management unit has agreed to pay over $9.5 million to settle U.S. Securities and Exchange Commission charges that it failed to disclose millions of dollars of fees to clients, the regulator said on Monday. Merrill Lynch, Pierce, Fenner & Smith Inc violated U.S. rules designed …

Merrill agrees to pay over $9.5 million to settle SEC charges over fee disclosures Read More »

By Blake Brittain (Reuters) -Goodyear Tire & Rubber Co convinced an Ohio federal judge on Friday to throw out a $64 million jury verdict over its alleged theft of trade secrets related to self-inflating tires. U.S. District Judge Sara Lioi said most of the trade secrets that Czech company Coda Development SRO accused Goodyear of …

Goodyear wins reversal of $64 million loss in tire trade-secret case Read More »

(Reuters) – The Federal Deposit Insurance Corporation (FDIC) on Monday announced the marketing process for the about $60 billion loan portfolio retained in receivership following the failure of Signature Bank. The FDIC expects to begin its marketing of the retained loan portfolio of the former Signature Bank later this summer, it said in a statement. …

FDIC announces sale process of former Signature Bank loan portfolio Read More »

By Stephanie Kelly and Liz Hampton (Reuters) – OPEC’s surprise oil production cuts could lead to higher demand for U.S. oil in Europe and Asia and could encourage some other producers to boost output, industry executives and analysts said on Monday. On Sunday, the Organization of the Petroleum Exporting Countries and allies pledged to cut …

OPEC+ may spur U.S. crude oil exports, tick production higher Read More »

WASHINGTON (Reuters) – American Airlines said Monday it will join other major carriers in temporarily cutting some New York City area flights this summer after the Federal Aviation Administration temporarily relaxed some minimum flight requirements. American is reducing flight frequencies on LaGuardia to Dallas, Miami, Kansas City and St. Louis routs as well as the …

American Airlines will cut some New York flights this summer Read More »