By Daniel Wiessner (Reuters) – The Gap Inc on Thursday beat a shareholder lawsuit claiming the company’s directors breached their duties by making misleading statements in securities filings about the retailer’s commitment to racial diversity in its leadership ranks. An en banc panel of the 9th U.S. Circuit Court of Appeals in a 6-5 ruling…
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Thursday stopped short of approving Deutsche Bank AG’s $75 million settlement with women who said that Jeffrey Epstein abused them, and that the German bank facilitated the late financier’s sex trafficking. At a hearing in Manhattan federal court to consider preliminary approval…
By Brendan Pierson (Reuters) – A federal appeals court, in a decision unsealed Wednesday, upheld the dismissal of a whistleblower lawsuit against Johnson & Johnson as a sanction for the plaintiffs’ misuse of confidential records they obtained through related litigation. The lawsuit, which accused J&J’s DePuy Orthopaedics unit of defrauding the federal government by marketing…
(Reuters) – The Biden administration said on Friday it would stop issuing new oil and gas drilling leases within 10 miles of the Chaco Culture National Historic Park, a region central to Pueblo ancestral heritage in northwest New Mexico. Tribes, conservationists and state officials have long called on the federal government to ban drilling in…
By Selena Li and Kane Wu (Reuters) -Jamie Dimon, the chief executive of U.S. bank JPMorgan Chase & Co, is visiting Taiwan on Friday, a source with direct knowledge of the matter said, his first trip to the island in a nearly a decade, after concluding a visit to China this week. Dimon’s trip to…
By Leah Douglas WASHINGTON (Reuters) – Changes to the largest U.S. food aid program in the debt deal passed by Congress this week could force hundreds of thousands of older Americans off of federal food aid and bury other applicants in new paperwork, food security experts warned. Eligibility requirements for the Supplemental Nutrition Assistance Program…
BANGKOK (Reuters) – Trafficking of synthetic drugs in East and Southeast Asia is surging, with new smuggling routes for methamphetamine emerging and ketamine production expanding, the United Nations said on Friday. High volumes of methamphetamine continue to be produced in Shan State, Myanmar and trafficked from there through Thailand and Laos as well as new…
Beijing/Hong Kong (Reuters) -China is working on new measures to support the property market after existing policies failed to sustain a rebound in the sector, Bloomberg News reported on Friday, citing people familiar with the matter. Regulators are considering reducing downpayments in some non-core neighborhoods of major cities, lowering agent commissions on transactions, and further…
By Rajesh Kumar Singh CHICAGO (Reuters) -American Airlines’ plan to grow revenue by relying more heavily on alliance partners to ferry passengers in uncompetitive markets while bulking up flights to U.S. Sunbelt states has been called into question by a U.S. court ruling blocking a key tie-up. A U.S. federal judge last month ordered the company…
A look at the day ahead in U.S. and global markets from Mike Dolan With the U.S. debt ceiling removed, world markets see the sky again – encouraged that robust U.S. labor markets continue to defy recession fears as interest rates near peaks. May’s U.S. employment report later on Friday now stands as the last…
