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…
PARIS (Reuters) – Jet engine maker Pratt & Whitney flagged “solid progress” in the aerospace supply chain on Wednesday, addressing a key area of concern for planemakers as they continue to rack up orders at the Paris Airshow. The first two days of the world’s biggest air show saw bumper orders from Indian airlines looking…
By Blake Brittain (Reuters) – Alphabet’s Google must pay patent holding company Personal Audio LLC $15.1 million for infringing two patents related to audio software, a Delaware federal jury said in a verdict made public on Wednesday. Personal Audio had argued that Google’s music app Google Play Music featured playlist downloading, navigation and editing features…
By David Randall NEW YORK(Reuters) – Individual investors have given a cold shoulder to Cathie Wood’s ARK Innovation Fund during their searing run this year, but some market watchers believe that may change if risk appetite keeps improving. The $8 billion fund, which outperformed all U.S. equity funds during the pandemic rally of 2020 but…
(Reuters) – Rocket engine maker Aerojet Rocketdyne says it will develop a propulsion system for the Long Range Maneuverable Fires (LRMF) missile that Lockheed Martin is making for the U.S. Army. There is a rising demand for missiles fueled by the Ukraine conflict and geopolitical uncertainties, as countries seek to bolster their defenses. LRMF missiles…
By Aram Roston and Joseph Tanfani BOCA RATON, Florida (Reuters) – Ukrainian-American businessman Lev Parnas and his business partner were arrested in 2019, accused by the U.S. government of funneling a Russian oligarch’s money into American political campaigns. One recipient of Parnas’ donations — Florida Governor Ron DeSantis — has said he was barely an…
By Elizabeth Piper and Marc Jones LONDON (Reuters) -Ukrainian Prime Minister Denys Shmyhal said on Wednesday he expected to secure almost $7 billion in aid, after telling a London conference Russia’s war meant Kyiv was facing the largest reconstruction project in Europe since World War Two. At the conference Britain, the United States, the European…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks softened on Tuesday, closing in negative territory as investors began the holiday-shortened week by taking profits in the wake of a sustained rally amid signs of weakening global demand. Federal Reserve Chairman Jerome Powell’s congressional testimony Wednesday could be a potential market mover. All three major…
