WASHINGTON (Reuters) -Harvard University said on Thursday it will comply with the U.S. Supreme Court ruling that struck down its race-conscious student admissions programs in a way that will preserve its values on diversity and opportunity in higher education. “We will certainly comply with the Court’s decision,” the prestigious university said in a statement. “In…
By Tatiana Bautzer NEW YORK (Reuters) – Credit Suisse Group AG on Thursday appointed an investment banking management committee to oversee its integration with UBS Group AG, according to a memo seen by Reuters. UBS completed its emergency takeover of embattled rival Credit Suisse in June, forging a Swiss banking and wealth management giant with…
By Joseph Ax, Sharon Bernstein, Gabriella Borter (Reuters) -For decades, selective U.S. colleges and universities have considered, among other factors, whether applicants are from underrepresented minority groups, including Black, Hispanic and Native American. For just as long, critics of affirmative action have questioned whether race-conscious admissions policies are fair or warranted. The Supreme Court weighed…
By Niket Nishant and Krystal Hu (Reuters) -Inflection AI, a startup backed by several Silicon Valley heavyweights, said on Thursday it had raised $1.3 billion from investors including Microsoft and Nvidia, amid a boom in the artificial intelligence (AI) sector. The investment, a mix of cash and cloud credit, valued the one-year-old company at $4…
HOUSTON (Reuters) – Chevron is offering to sell several oil and gas properties in New Mexico and Texas, according to marketing documents seen by Reuters, as the U.S. oil major looks to cull acreage after major shale acquisitions. The second-largest U.S. oil and gas producer last month agreed to buy shale firm PDC Energy Inc…
By Sarah N. Lynch WASHINGTON (Reuters) – The U.S. Justice Department this week charged the top law enforcement official in Culpeper County, Virginia, with fraud, conspiracy and bribery, alleging he abused his authority by handing out deputy sheriff badges in exchange for cash to fund his re-election campaign. In an indictment unsealed on Thursday in…
By Scott Murdoch and Kane Wu SYDNEY/HONG KONG (Reuters) – Chinese companies are finding it challenging to get timely regulatory approvals for overseas share offerings as scrutiny of their proposals has intensified under new listing rules, frustrating potential issuers and investment bankers. Since the launch of the overhauled listing regime on March 31, not a…
By Jonathan Stempel and Helen Coster NEW YORK (Reuters) -U.S. prosecutors on Thursday charged three Florida men with making more than $22 million through insider trading in late 2021 ahead of a proposed merger to take former U.S. President Donald Trump’s social media company public. Michael Shvartsman, his brother Gerald Shvartsman and Bruce Garelick allegedly…
By Blake Brittain (Reuters) – Two U.S. authors sued OpenAI in San Francisco federal court on Wednesday, claiming in a proposed class action that the company misused their works to “train” its popular generative artificial-intelligence system ChatGPT. Massachusetts-based writers Paul Tremblay and Mona Awad said ChatGPT mined data copied from thousands of books without permission,…
By Blake Brittain WASHINGTON (Reuters) – Limiting the foreign reach of American trademark law, the U.S. Supreme Court on Thursday threw out a $96 million jury award for Methode Electronics Inc’s Hetronic International in its fight with its former European distributor for selling Hetronic-branded products with unauthorized parts. The decision overturned a lower court’s ruling…
