By Moira Warburton (Reuters) – A campaign aide to embattled Republican U.S. Representative George Santos was charged with identity theft and wire fraud in federal court for impersonating a top congressional staffer in fundraising appeals, court documents unsealed on Wednesday showed. The indictment, filed in federal court in Brooklyn, New York, said Samuel Miele created…
By Siddharth Cavale NEW YORK (Reuters) – Big-box retailer Target said on Wednesday that losses caused by theft and organized retail crime, which had spiked in the first half of the year, are showing signs of stabilizing. Target shares were up 3.5% at $129.40 in afternoon trading after the company’s second-quarter profit exceeded analysts’ expectations…
WASHINGTON (Reuters) – The new U.S. ambassador to Niger, Kathleen FitzGibbon, will arrive in Niamey following a coup last month, the State Department said on Wednesday, in a signal of Washington’s continued engagement with the situation. A U.S. official said she is expected to arrive in Niger later this week. The Senate confirmed FitzGibbon, a…
By Jonathan Stempel (Reuters) – Allstate agreed to pay $90 million to settle a class action lawsuit by shareholders who accused the insurer of defrauding them by concealing that it lowered underwriting standards to boost growth. A preliminary settlement was filed on Monday in federal court in Chicago, and requires a judge’s approval. The lawsuit…
(Reuters) – The White House, pressed on Wednesday about recent Chinese growth, said there were issues with the transparency of economic data issued by Beijing. “We have all seen the reports of the economic weakness in China … and as we’ve said many times before, there have also been transparency issues as we know, when…
By Bianca Flowers (Reuters) – United Steel Workers (USW) International President Tom Conway on Wednesday called ArcelorMittal’s bid consideration for U.S. Steel “foolish” and said the union wouldn’t endorse any buyers other than Cleveland-Cliffs. ArcelorMittal SA (MT.LU), the world’s second-largest steelmaker, is considering a potential offer for U.S. Steel Corp Reuters reported. If it does…
By Allison Lampert (Reuters) – Loss-making private jet firm Wheels Up Experience nabbed a key $500 million lifeline but still faces turnaround challenges, as demand for private travel softens in the wake of the COVID-19 pandemic and rival operators lure some of their customers. Wheels Up avoided a possible bankruptcy when it secured backing from…
(Reuters) – OpenAI said on Wednesday it had acquired digital products company Global Illumination, in what comes as the first known acquisition by the storied artificial intelligence firm. Financial details of the deal were not disclosed. “The entire (Global Illumination) team has joined OpenAI to work on our core products including ChatGPT,” OpenAI said. New…
WASHINGTON (Reuters) – A bipartisan group of former senior U.S. national security officials urged Congress on Wednesday to dedicate resources to President Joe Biden’s recent order restricting some outbound U.S. investment to China, calling it a top priority. Twenty-one veteran officials – including former deputy national security advisor during the Trump administration Matt Pottinger,…
By Humeyra Pamuk and Daphne Psaledakis WASHINGTON (Reuters) – The United States on Wednesday condemned Russia’s continued attacks on Ukraine’s grain infrastructure and said it was working with partners to identify alternative options to ensure Ukrainian grain exports. “The United States … calls for Russia to immediately return to the Black Sea Grain Initiative,” State…
