By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) -The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a major U.S. bank regulator, warned on Wednesday. “I believe fintechs and big techs are having a large impact…
Elon Musk will be able to include new evidence from a Twitter whistleblower as he fights to get out of his $44 billion deal to buy the social media company, but Musk won’t be able to delay a high-stakes October trial over the dispute, a judge ruled Wednesday. Chancellor Kathaleen St. Jude McCormick, the head…
(Corrects to clarify Nissan will buy all shares from INCJ) TOKYO (Reuters) – Japan’s Nissan Motor Co said on Wednesday it has agreed to acquire Vehicle Energy Japan Inc, a lithium-ion battery maker. Nissan will acquire all the common shares of the company held by the Innovation Network Corporation of Japan (INCJ), a state-backed fund,…
CUPERTINO, Calif. (AP) — Apple’s latest line-up of iPhones will boast better cameras, faster processors, and a longer lasting battery — all at the same prices as last year’s models, despite inflationary pressure that has driven up the cost of many other everyday items. That pricing decision, revealed Wednesday during Apple’s first in-person product event…
By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) – U.S. regulators should assess a range of climate scenarios when gauging banks’ exposure to climate change risks rather than pursuing standardized stress tests, a top U.S. bank regulator said on Wednesday. Michael Hsu, the acting Comptroller of the Currency, said there is an urgent need…
NEW YORK (AP) — United Parcel Service said Wednesday it plans to hire more than 100,000 extra workers to help handle an increase in packages during the critical holiday season. That’s similar to the holiday seasons of 2021 and 2020. Holiday-season volumes usually start rising in October and remain high into January. The hiring plans…
LONDON (AP) — Britain’s new prime minister has pledged to rebuild the economy and “ride out the storm” gathering over the country, but Liz Truss faces a daunting job. She inherits an ailing economy on the brink of a potentially long recession, with record inflation that’s forecast to worsen in coming months and millions crying…
(Reuters) – California avoided rotating power outages as demand hit a record on Tuesday and prices soared to a two-year high as homes and businesses cranked up their air conditioners to escape a brutal heat wave blanketing the drought-stricken region. The California Independent System Operator (ISO), grid operator for most of the state, told utilities…
BERLIN (AP) — The Austrian government on Wednesday announced plans for a power price cap to curb the rise in energy costs tied to Russia’s war in Ukraine. Chancellor Karl Nehammer said the cap should ease costs for an average household of three by about 500 euros ($494) per year. The government will provide around…
BRUSSELS (AP) — European Union countries should set a price cap on Russian natural gas and seek a “solidarity contribution” from European oil and gas companies making extraordinary profits as the war in Ukraine drives up energy costs, European Commission President Ursula von der Leyen said Wednesday. With winter approaching, the 27 EU members are…
