By Brendan O’Brien (Reuters) -Former Minneapolis police officer Tou Thao was sentenced on Monday to 4-3/4 years in prison for aiding and abetting manslaughter in the 2020 killing of George Floyd, a Black man whose neck was pinned to the ground by another officer’s knee during a botched arrest. The sentence, meted out by Hennepin…
By Josephine Walker WASHINGTON (Reuters) -A U.S. government watchdog is reviewing how long Democratic President Joe Biden’s pick for labor secretary, Julie Su, can serve as the department’s acting secretary without Senate confirmation, a spokesperson said on Monday, following an inquiry by a Republican lawmaker. The White House last month decided to keep Su on…
By David Milliken LONDON (Reuters) – British food price inflation is likely to fall to around 10% later this year, but will need to drop further for overall consumer price inflation (CPI) to return to its 2% target, Bank of England (BoE) Chief Economist Huw Pill said on Monday. Food and drink price inflation has…
By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Monday dismissed Donald Trump’s defamation counterclaim against the writer E. Jean Carroll, handing a fresh legal defeat to the former president as he seeks another White House term. U.S. District Judge Lewis Kaplan in Manhattan said Carroll’s statements, made on CNN the day after she…
(Reuters) -Elon Musk has said his X social media platform will pay the legal bills and sue on the behalf of people who have been treated unfairly by employers because of posting or liking something on the site formerly known as Twitter. “If you were unfairly treated by your employer due to posting or liking…
By Asif Shahzad ISLAMABAD (Reuters) -Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines, the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister…
By Mark John (Reuters) – If medieval advances in the plough didn’t lift Europe’s peasants out of poverty, it was largely because their rulers took the wealth generated by the new gains in output and used it to build cathedrals instead. Economists say something similar could happen with artificial intelligence (AI) if it enters our…
By Marta Nogueira RIO DE JANEIRO (Reuters) – Brazil’s Petrobras may increase investments in its next five-year business plan by up to 10% over the previous one, which would place the state-run oil company’s capital expenditures at around $86 billion, Chief Financial Officer Sergio Caetano Leite said in an interview on Monday. The increase in…
By Douglas Gillison, Nupur Anand and Tatiana Bautzer (Reuters) – Now that regulators in Washington have unfurled a hefty reform package of post-financial crisis capital regulations, banking industry advisers are honing in on what they consider most disruptive, including risk management requirements that could affect real estate lending, consumer credit and wealth management. In a…
By Ann Saphir (Reuters) – Regulatory guidelines issued in late July encouraging banks to incorporate the Federal Reserve’s so-called discount window into their contingency funding plans fail to address the main issues underlying banks’ reluctance to use it, former Fed staffer and bank policy expert Bill Nelson said in a blogpost on Monday. Arguing that…
