Reuters US Business

By Mike Scarcella (Reuters) – A federal judge on Friday set a fast-paced schedule in the U.S. Justice Department’s antitrust lawsuit challenging Google LLC’s digital advertising technology practices, moving the case along more quickly than either side had proposed. U.S. Magistrate Judge John Anderson in Alexandria, Virginia, after a brief hearing issued an order setting …

US Justice Dept’s Google advertising case gets fast-paced schedule Read More »

OTTAWA (Reuters) – The United States will probably be investing billions of dollars in packaging semiconductors in Canada, U.S. President Joe Biden said on Friday during a news conference with Canadian Prime Minister Justin Trudeau. (Reporting by Andrea Shalal; Writing by Katharine Jackson; Editing by Leslie Adler)

By Ann Saphir (Reuters) -Responsibility for the Federal Reserve’s oversight of large financial institutions like the failed Silicon Valley Bank rests with staff in Washington and not with any regional Fed bank chief, a former chair of the San Francisco Fed bank said on Friday. “I do not believe that (San Francisco Fed Bank President) …

SF Fed bank’s Daly not responsible for SVB failure -former SF Fed chair Read More »

By David Lawder WASHINGTON (Reuters) -The multi-regulator U.S. Financial Stability Oversight Council agreed on Friday that the U.S. banking system remains “sound and resilient” despite stress on some institutions, the U.S. Treasury said in its latest statement to calm jittery markets and bank depositors. In a readout of a closed meeting chaired by Treasury Secretary …

U.S. regulators say banking system ‘sound and resilient’ Read More »

By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department on Friday denied an exemption request by JetBlue and Spirit to operate under common ownership, citing the Justice Department’s antitrust lawsuit filed this month seeking to block the deal. JetBlue’s planned $3.8 billion acquisition of ultra-low cost carrier Spirit was announced last July. They then filed …

U.S. rejects JetBlue, Spirit exemption request, citing lawsuit Read More »

By Stephen Nellis (Reuters) – The United States and Canada said on Friday they would work together to create a bilateral semiconductor manufacturing corridor, as International Business Machines signaled its intent to expand in Canada. The news came as U.S. President Joe Biden, who is visiting Canada, issued a joint pledge with Canadian Prime Minister …

US, Canada plan North American chip corridor, starting with IBM expansion Read More »

(Reuters) – Republic First Bancorp Inc said on Friday it expects to file its annual report with the U.S. Securities and Exchange Commission by May 1, much later than the March 30 deadline. The Philadelphia-based lender did not give a reason for the delay. The disclosure comes two weeks after the bank said it was …

Republic First Bancorp expects to file annual report after deadline Read More »

(Reuters) – Rivian Automotive Inc is relocating parts of its manufacturing engineering team to Illinois to speed up production, the Wall Street Journal reported on Friday, citing a person familiar with the matter. The reorganization, expected to be announced soon, would mean those working on manufacturing engineering would be asked to relocate to central Illinois …

Rivian to relocate staff to Illinois EV plant to accelerate production – WSJ Read More »

By David Shepardson WASHINGTON (Reuters) – U.S. House Speaker Kevin McCarthy thinks lawmakers will pass bipartisan legislation to address national security worries about Chinese-owned short video app TikTok, he said on Friday, and called the testimony of the company’s CEO “very concerning.” TikTok CEO Shou Zi Chew appeared before a U.S. House Committee for about …

McCarthy expects US House will pass legislation to address TikTok Read More »

By Leah Douglas and Tom Polansek (Reuters) -Tyson Foods Inc gave its chicken suppliers two months’ notice of its plan to shut a Virginia processing plant in May, raising concerns among farmers and legal experts about the company’s compliance with antitrust regulations requiring it to give 90 days’ notice before ending a contract. The planned …

Tyson Foods plant closure raises antitrust concerns among US farmers, experts Read More »