(Reuters) -The U.S. Department of Energy said on Monday it will purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August, and asked that offers be submitted by May 31. U.S. Energy Secretary Jennifer Granholm had signaled to lawmakers late last week that her department could start repurchasing oil…
By Leah Douglas WASHINGTON (Reuters) – Expanding work requirements for the largest U.S. food assistance program is still a “red line” in negotiations over raising the country’s debt ceiling to avert a looming default, Senate Agriculture Committee Chair Debbie Stabenow said Monday in an interview with Reuters. Republicans, whose party control the House of Representatives,…
By Blake Brittain (Reuters) – Genetic testing company Natera Inc convinced a Delaware federal jury on Monday to award it $19.3 million in damages from Invitae Corp’s ArcherDX for infringing patents related to cancer detection. The jury agreed with Natera that biotech company ArcherDX Inc’s blood-based DNA tests for detecting and monitoring cancer infringed three…
NEW YORK (Reuters) – A former civilian employee at a U.S. Army facility in South Korea has been arrested on charges of receiving $400,000 in kickbacks from military contractors, federal prosecutors in Manhattan said on Monday. Young Beom Kim, 62, was responsible for overseeing construction contracts at the Army Garrison Yongsan-Casey from 2017 to 2021….
By Michel Rose and Tassilo Hummel PARIS (Reuters) -President Emmanuel Macron met Tesla’s CEO Elon Musk, the boss of Pfizer and other business chiefs on Monday to urge them to pour money into France, and his office said the country was poised to win record foreign investment pledges. For Macron, whose popularity has suffered from…
By Diane Bartz and Jeffrey Dastin WASHINGTON (Reuters) -U.S. lawmakers are grappling with what guardrails to put around burgeoning artificial intelligence, but months after ChatGPT got Washington’s attention, consensus is far from certain. Interviews with a U.S. senator, congressional staffers, AI companies and interest groups show there are a number of options under discussion. The…
By David Shepardson WASHINGTON (Reuters) -General Motors said on Monday it will recall 42,000 sport utility vehicles in Canada from the 2014 through 2017 model years because the driver’s air-bag inflator may explode during deployment. On Friday, GM recalled 994,763 Buick Enclave, Chevrolet Traverse, and GMC Acadia vehicles in the United States from the 2014-2017…
By Andrew Goudsward (Reuters) – Exxon Mobil Corp on Monday settled a long-running human rights lawsuit with villagers who claimed soldiers Exxon hired to guard a natural gas facility in Indonesia committed murder and torture. The two sides said in a Washington, D.C., federal court filing that they had resolved the 2001 case. Agnieszka Fryszman,…
By Michael S. Derby NEW YORK (Reuters) -Americans’ appetite for taking on new mortgages slowed substantially during the first quarter, data released by the New York Fed on Monday showed, amid a modest gain in overall household borrowing levels at the start of the year. Overall household debt levels rose by 0.9% to $17.05 trillion…
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Greg Becker, former CEO of failed lender Silicon Valley Bank, apologized in congressional testimony for its “devastating” collapse while citing rising interest rates and mounting withdrawal requests as key causes of its demise. The bank was responsive to regulator concerns about its risk management and working to…
