By Lewis Krauskopf, Amruta Khandekar and Ankika Biswas (Reuters) – Wall Street’s main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve. Equities were boosted…
By Blake Brittain (Reuters) – A federal jury in Texas on Tuesday said Intel Corp must pay VLSI Technology LLC $948.8 million for infringing a VLSI patent for computer chips. VLSI, a patent-holding company affiliated with the SoftBank Group Corp-owned private equity firm Fortress Investment Group, argued during the six-day trial that Intel’s Cascade Lake…
NEW YORK (AP) — Just days after cryptocurrency’s third-largest exchange collapsed, the public is starting to get an idea of how messy FTX’s bankruptcy case could be. Other crypto firms are failing as a result of FTX’s unraveling, events reminiscent of the domino-like meltdowns of the 2008 financial crisis. Users remained frustratingly in the dark…
WASHINGTON (Reuters) -U.S. Senate Republican Leader Mitch McConnell on Tuesday downplayed the likelihood the chamber will vote by year’s end to raise the federal government’s statutory limit on borrowing, noting that such legislation is not needed until next year. “I don’t think the debt limit issue is until sometime next year,” McConnell told reporters when…
WILMINGTON, Del. (AP) — The head of Tesla’s board of directors testified Tuesday in a shareholder lawsuit challenging a 2018 compensation plan for CEO Elon Musk potentially worth more than $55 billion that she was less concerned about how much time Musk would commit to the company than in the results he could bring. “We…
By Herbert Lash NEW YORK (Reuters) – Stocks pared gains and the dollar rebounded against the euro after media reports that Russian missiles killed two people in Poland, a strike that raised fears the nine-month Ukraine war could escalate. The Dow Industrials straddled break-even and the dollar also see-sawed to trade little changed as firefighters…
WASHINGTON (Reuters) – The Biden administration is asking Congress for $9.25 billion to fight COVID-19 and an additional $37.7 billion to support Ukraine in its war with Russia as part of a supplemental funding request, U.S. officials said on Tuesday. The administration is also requesting $750 million to fight other infectious diseases and will be…
WASHINGTON (Reuters) – The United States on Tuesday imposed sanctions on companies it accused of being involved in the production of or transfer to Russia of Iranian drones that have been used in attacks on civilian infrastructure in Ukraine. The U.S. Treasury Department in a statement said it imposed sanctions on the Shahed Aviation Industries…
(Reuters) -Michael Barr, the Federal Reserve’s top financial regulatory official, on Tuesday said he is concerned about risks from the non-bank sector, including cryptocurrencies, for which the U.S. central bank and other regulators have poor visibility. “We’re concerned about the risks that we don’t know about in the non-bank sector,” Barr said in response to…
DETROIT (AP) — Gas-electric hybrids were the most dependable vehicles sold in the U.S. in the past year, while big pickup trucks and fully electric automobiles performed the worst in Consumer Reports’ annual reliability survey. Hybrids generally are tried-and-true designs with few frills, while automakers are cramming glitchy electronic features into expensive new pickups and…
