By Chris Prentice and John McCrank NEW YORK (Reuters) – The head of the U.S. Securities and Exchange Commission (SEC) plans to defend its rulemaking and policing of market misconduct at a Tuesday hearing led by Republican lawmakers who have accused it of overstepping its authority. Having won control of the House of Representatives last…
By David Shepardson (Reuters) – The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo Cars electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. The Treasury said the new requirements effective on Tuesday will also cut by half credits for the Tesla Inc…
By Clark Mindock NEW YORK (Reuters) -Berkeley, California, cannot ban natural gas hookups in new buildings because a U.S. federal law preempts its rule, a federal appeals court said Monday, siding with a challenge the state’s restaurant industry made. The 9th U.S. Circuit Court of Appeals in San Francisco said Berkeley’s 2019 ban on new…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices turned lower on Monday as the U.S. dollar strengthened and as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes. Brent crude futures fell $1.55, or 1.8%, to settle at $84.76 a barrel, while U.S. West…
By Nell Mackenzie LONDON (Reuters) – Investment firm Orchard Global, which manages $8 billion of capital, has hired Fredrik Gentzel as its chief operating officer (COO), a statement seen by Reuters said. Gentzel previously worked as the CEO of hedge fund Capula Investment Management from 2017. Capula specialises in bond and macro economic trading. At…
By Hannah Lang (Reuters) -The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange Bittrex Inc and its former CEO William Shihara with operating an unregistered national securities exchange, broker and clearing agency. The SEC alleged in its complaint, which was filed in a U.S. district court in Washington, that Shihara coordinated with crypto…
By Hannah Lang (Reuters) -The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange Bittrex Inc and its former CEO William Shihara with operating an unregistered national securities exchange, broker and clearing agency. The SEC alleged in its complaint, which was filed in a U.S. district court in Washington, that Shihara coordinated with crypto…
BERLIN (Reuters) – Inflation is a risk for financial stability and central banks must take this into consideration, German Finance Minister Christian Lindner said on Monday. “Inflation is a tough beast,” said Lindner at an event of the association of German banks, adding that inflation is a risk not only for the financial system, but…
By Andy Sullivan WASHINGTON (Reuters) – The spending-cut proposals unveiled by U.S. House of Representatives Speaker Kevin McCarthy on Monday could fall hardest on people in Republican-leaning states, a Reuters analysis of federal spending data found. McCarthy’s plan, which he presented as a condition for raising the United States’s $31.4 trillion debt ceiling, calls for…
(Reuters) – Ernst & Young’s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units. The layoffs will affect around 3,000 of the company’s U.S. employees. The decision was taken after…
