(Reuters) -Juul Labs Inc on Friday secured preliminary court approval of a $255 million settlement resolving claims by consumers that it deceptively marketed e-cigarettes, as the company seeks to resolve thousands of lawsuits. U.S. District Judge William Orrick in San Francisco said the proposed class action settlement resolving claims by consumers who said they overpaid…
By David Shepardson WASHINGTON (Reuters) -Amazon.com Inc’s cloud services division said Friday it plans to invest another $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia. In…
(Reuters) -Juul Labs Inc won preliminary approval of a settlement aimed at ending thousands of lawsuits alleging the company was a major cause of a youth-vaping epidemic in the United States, according to a court filing on Friday. U.S. District Judge William Orrick in San Francisco said Juul’s deal to settle almost 10,000 lawsuits filed…
By David Shepardson WASHINGTON (Reuters) – Major unions and public interest and environmental groups are urging President Joe Biden to reject efforts by the European Union and other foreign governments to revise U.S. electric vehicle tax incentives. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August restricts $7,500 consumer tax credits to North…
By Jody Godoy SAN FRANCISCO (Reuters) -Elon Musk, Tesla Inc’s chief executive, testified on Friday that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial over his 2018 tweet that he had funding to take the electric carmaker private. Musk’s testimony began with questions about his…
By Andrea Shalal and Jeff Mason DAKAR/WASHINGTON (Reuters) -Treasury Secretary Janet Yellen on Friday warned that the U.S. government cannot choose to pay some bills over others if Congress fails to raise the borrowing limit, as President Joe Biden and top Republican Kevin McCarthy made plans to meet to discuss the issue. Speaking to reporters…
LONDON (Reuters) -Investors poured a record $12.7 billion into emerging-market debt and equity funds in the week to Wednesday, in response to China’s easing of its COVID-19 restrictions on activity, data on Friday from BofA Global Research showed. The sudden shift in Chinese policy has boosted many different asset classes, from commodities and mining stocks…
(Reuters) – Morgan Stanley Chief Executive Officer James Gorman’s total compensation for 2022 slipped 10% to $31.5 million, the bank said on Friday. Gorman’s total compensation will include an annual base salary of $1.5 million, a cash bonus of $7.5 million, a deferred equity award of $4.5 million and a performance-based equity award of $18…
By Laila Kearney NEW YORK (Reuters) -Oil settled up about $1 a barrel on Friday and notched a second straight weekly gain as China’s economic prospects brightened, boosting expectations for fuel demand in the world’s second-biggest economy. China’s lifting of COVID-19 restrictions should bring global demand to a record high this year, the International Energy…
By Kylie Madry and David Shepardson MEXICO CITY/WASHINGTON (Reuters) -The U.S. Federal Aviation Administration (FAA) has opened an office in Mexico, the regulatory body said on Friday, a sign the country is looking to aid one of its top travel partners to recover a coveted safety rating after being downgraded in May 2021. The downgrade…
