WASHINGTON (Reuters) -U.S. President Joe Biden said on Tuesday he has done what is possible to address the banking crisis with available authorities but that it is “not over yet.” Asked if the administration would not take any more executive action to address the matter, Biden said “Oh no, It’s not over yet. We’re watching …
By Steve Scherer OTTAWA (Reuters) – Canada on Tuesday sought to close competitive gaps with United States with a budget aimed at attracting investment in the low-carbon economy, including tax incentives for electric-vehicle (EV) manufacturers and expanding the electricity grid. The 2023-2024 fiscal document, delivered to the House of Commons, also has a “grocery rebate” …
Canada steps up clean tech investments in budget to compete with US Read More »
(Reuters) – JPMorgan Chase & Co CEO Jamie Dimon will be interviewed under oath over the bank’s decision to retain late sex offender Jeffrey Epstein as a client, the Financial Times reported on Tuesday, citing people familiar with the matter. The bank did not immediately respond to a Reuters request for comment. The development comes …
JPMorgan’s Jamie Dimon to testify in Epstein lawsuits – FT Read More »
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -A top U.S. regulator told a Senate panel on Tuesday that Silicon Valley Bank did a “terrible” job of managing risk before its collapse, fending off criticism from lawmakers who blamed bank watchdogs for missing warning signs. In the first congressional hearing into the sudden collapse of …
US regulator cites ‘terrible’ risk management for Silicon Valley Bank failure Read More »
By Diane Bartz WASHINGTON (Reuters) -Google parent Alphabet asked a U.S. federal judge on Monday to dismiss a Justice Department lawsuit alleging that the search giant illegally abused its dominance of online advertising. The government, which filed the ad tech lawsuit in January along with eight states, had argued that Google should be forced to …
Alphabet seeks dismissal of US antitrust lawsuit over Google’s online ads Read More »
(Reuters) -Starbucks Corp, which has faced criticism over its opposition to union organizing, said the labor union representing some of its stores has rejected in-person bargaining sessions and is insisting on hybrid negotiations. Starbucks Workers United, which represents thousands of U.S. baristas at about 200 cafes, conducted unauthorized virtual broadcasts of bargaining sessions without prior …
Starbucks, union at odds over hybrid negotiations Read More »
By Tom Wilson and Angus Berwick (Reuters) -The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Commodity Futures Trading Commission (CFTC) on Monday for operating what the regulator alleged were an “illegal” exchange and a “sham” compliance program. The CFTC sued Binance, Zhao and its former …
US regulator sues top crypto exchange Binance, CEO for ‘willful evasion’ Read More »
(Reuters) -A.G. Barr on Tuesday warned of an operating margin hit in the short term from inflationary pressures and acquisitions, even as the Irn-Bru maker forecast annual profit growth in line with its expectations. Shares of the company were down about 1.5% in early trade. Beverage makers have been grappling with high costs of energy …
Irn-Bru maker A.G. Barr flags margin hit in short term, shares down Read More »
(Reuters) -Lyft Inc said founders Logan Green and John Zimmer would step down as CEO and president, with board member David Risher taking on the top role as the ride-hailing firm struggles with intense competition. Shares of Lyft rose about 5% in trading after the bell. The change in guard comes after Lyft drastically lost …
Lyft taps former Amazon exec Risher as new CEO after founders step down Read More »
By Howard Schneider LEXINGTON, Virginia (Reuters) – The U.S. Federal Reserve is “still learning” how much impact its interest rate increases have had on the economy and inflation, Federal Reserve Governor Philip Jefferson said on Monday. Inflation “has started to come down,” with some of that due to tighter monetary policy and some due to …
Fed’s Jefferson: ‘Still learning’ impact of tighter monetary policy Read More »
