By Chris Prentice NEW YORK (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday slapped Marcum LLP with a $10 million penalty for standards violations and systemic quality control failures in its audit work for hundreds of special purpose acquisition companies, or SPACs. Marcum, one of the leading auditors of SPACs, had substantial…
By Mark Trevelyan LONDON (Reuters) – Russia’s constitutional court has rejected an attempt by rights groups to seek the repeal of a law that bans people from speaking out against Russia’s invasion of Ukraine. In a lengthy ruling, the court rejected the bid to strike down Article 20.3.3 of the code of administrative offences, which…
By Matt Tracy (Reuters) -U.S. bond investors are coming around to using technology more to trade fixed-income products, as they seek to inject efficiency into processes that are still largely done manually, a study by financial analytics firm Coalition Greenwich and global fintech firm TS Imagine said. Traders have slowly adopted execution management systems (EMS)…
By Ann Saphir (Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Wednesday that the U.S. central bank needs more clarity on inflation and the labor market’s trajectory before deciding on its next step. “I feel like the Fed’s framework is, ‘wait and see,’” Goolsbee told the WSJ Global Food Forum in Chicago….
By Leah Douglas WASHINGTON (Reuters) -Two companies, Upside Foods and Good Meat, said on Wednesday they have received final U.S. Department of Agriculture approval to sell lab-grown meat, paving the way for the nation’s first-ever sales of the product. With the approvals, the United States will become the second country after Singapore to allow the…
By Leah Douglas WASHINGTON (Reuters) -Two companies, Upside Foods and Good Meat, said on Wednesday they have received final U.S. Department of Agriculture approval to sell lab-grown meat, paving the way for the nation’s first-ever sales of the product. With the approvals, the United States will become the second country after Singapore to allow the…
By Andrew Chung (Reuters) -Conservative U.S. Supreme Court Justice Samuel Alito has acknowledged taking a private jet to Alaska for a luxury fishing trip in 2008 but defended his failure to disclose the flight provided by a billionaire hedge fund manager whose business interests have come before the court. Alito wrote a commentary published in…
By Blake Brittain (Reuters) – Shoe maker Skechers sued fashion company Steve Madden in Los Angeles federal court on Tuesday, claiming its “Kennie” line of sneakers violate Skechers’ trademark rights in its “S” logos. The Steve Madden sneakers feature an “S” design that is likely to mislead consumers into thinking Skechers made or endorsed them,…
(Reuters) – Federal Reserve Chair Jerome Powell said on Wednesday he expects the U.S. dollar to remain the world’s reserve currency as long as democratic institutions and the rule of law remain in place in the U.S. “The status of the dollar as the world’s reserve currency is a very important thing to us,” Powell…
By Pete Schroeder WASHINGTON (Reuters) -Raising U.S. bank capital requirements to guard against future losses could increase the cost of credit but that may be justified to ensure the U.S. banking system is safe, Federal Reserve Chair Jerome Powell told Congress on Wednesday. Testifying before the House Financial Services Committee, Powell was grilled by Republican…
