By David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Department said Monday that six airlines will pay $7.25 million in total fines and agreed to issue $622 million in passenger refunds as the agency vows to aggressively enforce consumer protections. The enforcement actions helped ensure the six carriers paid required refunds “to hundreds of thousands…
By Jonathan Stempel (Reuters) -Berkshire Hathaway Inc said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing Co , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. In a Monday regulatory filing describing its U.S.-listed equity investments as of Sept. 30, Berkshire said it owned about 60.1…
OMAHA, Neb. (AP) — A third railroad union has rejected its agreement with the nation’s freight railroads, increasing the chances that Congress may be called upon to settle the dispute and block a strike. The small International Brotherhood of Boilermakers union on Monday voted down the contract even though it includes the biggest raises workers…
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Monday it has charged S&P Global Ratings with conflict of interest violations. The watchdog said in a statement that S&P Global Ratings had violated conflict of interest rules designed to prevent sales and marketing considerations from influencing credit ratings. (Reporting by Chris Gallagher; editing…
By Laura Sanicola (Reuters) -Oil prices settled around $3 lower on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer. Brent crude futures settled down $2.85, or 3%, at $93.14 a barrel after gaining 1.1%…
NEW YORK (AP) — Megadonor and novelist MacKenzie Scott announced almost $2 billion in donations to 343 organizations in a short blog post Monday, emphasizing her interest in supporting people from underserved communities. In her first post in nearly eight months, Scott showcased her donations to numerous funds as a “great resource” for giving. “They…
HARTFORD, Conn. (AP) — Search giant Google has agreed to a $391.5 million settlement with 40 states to resolve an investigation into how the company tracked users’ locations, state attorneys general announced Monday. The states’ investigation was sparked by a 2018 Associated Press story, which found that Google continued to track people’s location data even…
WASHINGTON (Reuters) – Boeing Co said operators of its 787 Dreamliner jetliners have experienced paint peeling issues on wing and horizontal stabilizer surfaces due to ultraviolet radiation exposure, and asked regulators to approve its plan to address the issue. The U.S. planemaker’s interim fix involves repeated use of speed tape over affected areas and the…
NEW YORK (AP) — Cryptocurrency exchange giant Binance is proposing the creation of a rescue fund that would save otherwise healthy crypto companies from failure, aiming to stave off the cascading effects of last week’s implosion of FTX, the world’s third-largest crypto exchange. Binance founder and CEO Changpeng Zhao posted on Twitter Monday that his…
WASHINGTON (AP) — Federal Reserve Vice Chair Lael Brainard said Monday that she was encouraged by last week’s U.S. inflation report, which pointed to slower price increases, and said the Fed would likely soon reduce the size of its interest rate hikes. “The inflation data was reassuring, preliminarily,” Brainard said. “It will probably be appropriate,…
