(Reuters) -A federal judge on Tuesday denied Elon Musk’s bid to dismiss OpenAI’s claims of a “years-long harassment campaign” by the Tesla CEO against the company he co-founded in 2015 and later abandoned before ChatGPT became a global phenomenon. In the latest turn in a court battle that kicked off last year, U.S. District Judge …
Musk’s bid to dismiss OpenAI’s harassment claims denied in court Read More »
By Lisa Baertlein LOS ANGELES (Reuters) -Ocean imports to the United States may have peaked in July after retailers raced to bring in goods from China and elsewhere to avoid potentially hefty tariffs on holiday-related products, logistics executives said on Wednesday. Containerized imports to the Port of Los Angeles, the nation’s busiest and a bellwether …
US container imports may have peaked in July, chief of busiest seaport says Read More »
(Reuters) -Atlanta Federal Reserve President Raphael Bostic on Wednesday said a U.S. job market holding near full employment offers the central bank the “luxury” of being able to avoid rushing to make any policy adjustments. The Fed should avoid policy volatility that can be troublesome to the public, Bostic said at an event in Alabama, …
Fed can wait to adjust policy because job market is near full employment, Bostic says Read More »
(Reuters) -Chicago Federal Reserve President Austan Goolsbee said on Wednesday the U.S. central bank is grappling with understanding whether tariffs will push up inflation just temporarily or more persistently, which would inform its decision on when to cut interest rates. “As we go into the fall, these are going to be some live meetings and …
Fed grappling with impact of tariffs as it ponders rate decisions, Goolsbee says Read More »
By Jonathan Stempel NEW YORK (Reuters) -Zelle was sued on Wednesday by New York Attorney General Letitia James, who said the electronic payment platform’s refusal to adopt critical safety features enabled fraudsters to steal more than $1 billion from consumers. The lawsuit in a New York state court in Manhattan followed the U.S. Consumer Financial …
New York sues Zelle, says security lapses led to $1 billion consumer fraud losses Read More »
By Ateev Bhandari, Atharva Singh and Hannah Lang (Reuters) -Cryptocurrency exchange operator Bullish was valued at about $13.16 billion after its shares more than doubled in their NYSE debut on Wednesday, underscoring investor confidence in the sector and lifting prospects for future U.S. listings by other digital asset firms. The parent of crypto news website …
Crypto exchange Bullish valued at nearly $13.2 billion in blowout NYSE debut Read More »
By Promit Mukherjee and David Ljunggren OTTAWA, Aug 13 (Reuters) – Ahead of the Bank of Canada’s July 30 interest rate decision, governors were divided on how much monetary policy could aid growth under current economic conditions, minutes of the meeting showed on Wednesday. The BoC kept its key policy rate unchanged at 2.75% for …
Bank of Canada divided on impact of monetary policy given tariffs, say minutes Read More »
(Reuters) -A top economist for Goldman Sachs on Wednesday signaled no plans to change how his team conducts and publishes its research after President Donald Trump lashed out at the Wall Street firm and its chief executive because of the research team’s estimate that American consumers would bear the brunt of the costs of Trump’s …
Goldman economist, uncowed by Trump attack, plans to ‘keep doing’ as before Read More »
By Rishika Sadam and Kashish Tandon (Reuters) -Eli Lilly on Wednesday launched the easy-to-use injector pen of its blockbuster weight-loss drug Mounjaro for 14,000 rupees (nearly $160) for its starting dose of 2.5 mg in India, stepping up competition with Novo Nordisk. Lilly said in June it received approval from India’s drug regulator for its …
Lilly launches Mounjaro pen in India at $160 for starting dose, stepping up Novo rivalry Read More »
BEIJING (Reuters) -Chinese tech giant Tencent said on Wednesday it lacks clarity on U.S. AI chip imports as Beijing and Washington continue negotiations, though the company maintains it has sufficient inventory for its AI operations. “We don’t really have a definitive answer on the import situation yet. There are a lot of discussions between the …
Tencent says US AI chip import situation unclear as governments negotiate Read More »
