(Reuters) -Money-losing private jet charter company Wheels Up Experience said on Tuesday it would give up 95% of its common stock in return for a $500 million lifeline from Delta Air Lines and two investment firms. The company said on Monday it was considering its options, including filing for bankruptcy protection. It also reported a…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales increased more than expected in July as Americans boosted online purchases and dined out more, suggesting the economy continued to expand early in the third quarter and keeping a recession at bay. The report from the Commerce Department on Tuesday also showed consumers splurging on hobbies,…
WASHINGTON (Reuters) – The White House said on Tuesday that they do not see any reason to have a government shutdown next month, after negotiating a bipartisan budget agreement earlier this year. (Reporting by Jeff Mason; Writing by Trevor Hunnicutt)
(Reuters) -Crypto exchange Binance late on Monday filed for a protective court order against the U.S. Securities and Exchange Commission, saying the regulator’s requests for information were “over broad” and “unduly burdensome.” BAM Trading, Binance U.S.’ operating company, and BAM Management in a court filing in the US District Court of Columbia said the group…
(Reuters) – Lordstown Motors said on Tuesday it had reached a $40-million settlement with Karma Automotive over a 2020 lawsuit in which the now-bankrupt electric vehicle firm was accused of stealing proprietary technology. The settlement, placed with the bankruptcy court for approval, involves $5 million to be paid as royalty for the use of Karma’s…
By Nelson Bocanegra BOGOTA (Reuters) – In May, a forum bringing together leaders debating wind and solar development in Colombia’s La Guajira province was disrupted by a chorus of passionate opposition. “La Guajira is not for sale!” exclaimed one attendee, a member of the area’s Wayuu Indigenous community, who led the chant with others as…
By Jonathan Stempel (Reuters) -A federal appeals court on Tuesday revived a lawsuit in which the United States and Virginia accused Walgreens Boots Alliance of defrauding Virginia’s Medicaid program by falsely representing that some patients were eligible for expensive hepatitis C drugs. In a 3-0 decision, the 4th U.S. Circuit Court of Appeals in Richmond,…
LONDON (Reuters) – An International Monetary Fund (IMF) staff team will visit Colombo in a month’s time for the first review on Sri Lanka’s loan programme, a spokesperson said on Tuesday. The Washington-based lender approved a nearly $3 billion bailout for crisis-hit Sri Lanka in March. The Asian island is struggling with its worst financial…
By Ann Saphir (Reuters) -Minneapolis Federal Reserve President Neel Kashkari on Tuesday said that while the U.S. central bank has made some progress in its inflation fight, interest rates may still need to go higher to finish the job. “I’m not ready to say that we’re done,” Kashkari told the APi Group Global Controllers Conference…
By Shashwat Chauhan and Ankika Biswas (Reuters) -UK and Swedish stocks led declines among European peers on Tuesday after data from both countries triggered worries about high interest rates, while China-exposed shares fell as Beijing’s policy support failed to boost investor sentiment. The pan-European STOXX 600 index closed 0.9% lower, touching an over one-month intraday…
