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By Jonathan Stempel NEW YORK (Reuters) -Sam Bankman-Fried should be allowed while on bail to have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices, the U.S. Department of Justice said. The proposal to limit the indicted FTX cryptocurrency exchange founder’s …

Bankman-Fried can have flip phone, limited internet while on bail, US proposes Read More »

By Alexandra Alper WASHINGTON (Reuters) – U.S. chipmaker Nvidia Corp’s plans to sell technology to China’s Huawei would be thwarted if the U.S. government proceeds with a proposal to further restrict shipments to the blacklisted company, a draft report by a government contractor shows. The Biden administration has been considering limiting the items it authorizes …

Exclusive-Nvidia’s plans for sales to Huawei imperiled if U.S. tightens Huawei curbs-draft Read More »

MEXICO CITY (Reuters) – Mexico would not be able to match the incentives offered under a U.S. act to tame inflation if Tesla Inc builds a battery plant in the country, Mexico’s finance minister said on Friday, days after Tesla announced the construction of a “gigafactory” there. Tesla has not confirmed whether it will also …

Mexico can’t match U.S. incentives for proposed Tesla battery plant, minister says Read More »

By Lewis Krauskopf NEW YORK (Reuters) – Investors searching for safer areas in the U.S. stock market are finding that traditional shelters that held up in last year’s selloff, such as consumer staples, utilities and healthcare, may be more problematic this time. After rebounding sharply in January, the benchmark S&P 500 is wobbling again as …

Defensives may not be safe place to hide as stock market stumbles Read More »

By Blake Brittain (Reuters) – The name “gruyere” can be used to label cheeses from outside of the Gruyère region of Switzerland and France, a U.S. appeals court said on Friday, in a victory for U.S. dairy groups and others. The Richmond, Virginia-based 4th U.S. Circuit Court of Appeals upheld a U.S. Patent and Trademark …

U.S. court says French, Swiss groups cannot restrict ‘gruyere’ cheese label Read More »

PALO ALTO, California (Reuters) – The U.S. central bank will need further, deliberate interest rate hikes to bring inflation back down to its 2% goal, Richmond Federal Reserve Bank President Thomas Barkin said on Friday, noting that while inflation has likely peaked, it may not recede quickly. “I think it will take time to return …

Fed’s Barkin calls for deliberate rate hikes to fight ‘exhausting’ inflation Read More »

(Reuters) -Rivian Automotive Inc on Friday said it was sticking to its official production forecast of 50,000 electric vehicles in 2023 after a news report said its executives had told employees it could possibly produce as many as 62,000 this year.    The 62,000 number was said in an internal meeting and taken out of …

Rivian sticks to 50,000 vehicle production target for 2023 Read More »