By Pete Schroeder and Niket Nishant (Reuters) -The U.S. Federal Deposit Insurance Corporation (FDIC) on Monday told banks to fix financial statements that “incorrectly” reduced uninsured deposits, restatements that preceded a proposed special fee tied to the size of those deposits. The warning and revisions came as banks have complained about a fee the FDIC…
SEOUL (Reuters) – North Korea fired two ballistic missiles into the sea off its east coast late on Monday, South Korea’s military said, hours after a U.S. nuclear-powered submarine arrived in a naval base in the South. Japan’s defence ministry also reported the launch of what it said were two ballistic missiles by North Korea,…
By Sharon Bernstein (Reuters) – A missing paddle boarder whose body was recovered from a lake in the Massachusetts resort community of Martha’s Vineyard was the personal chef to former President Barack Obama, authorities said. Tafari Campbell, 45, was the subject of a two-day search after a paddle boarder was seen to struggle and go…
By Carolina Mandl and Bansari Mayur Kamdar (Reuters) – The Dow Jones Industrial Average led Wall Street higher on Monday and notched its longest winning streak in six years as investors bet on sectors beyond technology in a week filled with earnings reports and a Federal Reserve meeting. “What you’re seeing now is people broadening…
By Andrew Goudsward (Reuters) -Covington & Burling must identify some clients caught up in a 2020 hack on the law firm to the U.S. Securities and Exchange Commission, a federal judge in Washington ruled on Monday in a case that could impact future cyberattack investigations. U.S. District Judge Amit Mehta ordered Covington to give the…
By Paul Lienert (Reuters) – UK battery startup Nexeon will supply high-energy silicon anode material to Panasonic’s newest U.S. plant starting in 2025, the companies said on Monday. The use of silicon-rich anodes will enable Panasonic battery cells to store more energy and charge more quickly, the companies said. The greater energy density also gives Panasonic…
(Reuters) – The Belarusian ministry of emergency situations is completing the arming and military training of its personnel to be ready to aid the defence and internal ministries in the event of an armed conflict, the head of the emergency ministry said on Monday. Emergency Minister Vadim Sinyavsky told state Belarus 1 television that employees…
PARIS (Reuters) – Luxury giant LVMH unveiled on Monday a deal to sponsor next year’s Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event. The group will also sponsor athletes, including French swimmer Leon Marchand, and…
NEW YORK (Reuters) – Asset manager Rithm Capital has agreed to acquire hedge fund firm Sculptor Capital Management for $639 million, the companies said in a statement on Monday. Rithm will pay $11.15 per class A share of Sculptor, which represents a premium of 18% over Sculptor’s closing price on Friday. Sculptor, once known as…
By Foo Yun Chee BRUSSELS (Reuters) – Apple on Tuesday found itself the target of a 785-million-pound ($1 billion) class action lawsuit brought by more than 1,500 apps developers in the UK over its App Store fees. Apple’s services business, which includes the App Store, has seen revenues grow at a rapid pace in the…
