(Reuters) – The total insured loss from the ongoing wildfires on Maui island is expected to be the second largest in Hawaii’s history, according to catastrophe modeling firm Karen Clark & Company (KCC). The fast-moving inferno, which started earlier this week, ravaged the historic resort town of Lahaina that was once the capital of the…
By Erwin Seba HOUSTON (Reuters) -Oil prices finished down on Monday on worries about China’s faltering economic recovery and a stronger dollar were taking the momentum out of seven weeks of gains on tight supply. U.S. West Texas Intermediate crude settled down 68 cents, or 0.82%, at $82.51 a barrel. Brent crude futures finished at…
By Luc Cohen (Reuters) – Sam Bankman-Fried, the indicted founder of bankrupt cryptocurrency exchange FTX, needs access to medications to treat depression and attention deficit hyperactive disorder (ADHD) while jailed ahead of his fraud trial, his lawyers said on Monday. In a letter, Bankman-Fried’s lawyers asked U.S. District Judge Lewis Kaplan to order the Metropolitan…
By Nate Raymond and Jarrett Renshaw (Reuters) – The Biden administration on Monday issued new guidance to colleges and universities on how they could still legally encourage racial diversity on their campuses even after the U.S. Supreme Court ended affirmative action in college admissions. The guidance, from the Education and Justice departments, came after the…
By Kanishka Singh and Jonathan Stempel WASHINGTON/NEW YORK (Reuters) – UBS agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the 2008 global financial crisis. The U.S. Department of Justice on Monday said it has…
By Nicolás Misculin, Eliana Raszewski and Candelaria Grimberg BUENOS AIRES (Reuters) -Argentine voters punished the country’s two main political forces in a primary election on Sunday, pushing a rock-singing libertarian outsider candidate into first place in a huge shake-up in the race towards presidential elections in October. With some 90% of ballots counted, far-right libertarian…
By Bianca Flowers CHICAGO (Reuters) – The United Steelworkers (USW) international president said on Monday that the union supports North American steel producer Cleveland-Cliffs’ bid to acquire rival, United States Steel Corp, adding that the company is the best strategic buyer. Cleveland-Cliffs said on Sunday that it offered to buy U.S. Steel in a cash-and-stock…
MOSCOW (Reuters) -The tumbling rouble reversed course late on Monday, rising back to the strong side of 100 against the dollar after Russia’s central bank sparked expectations of another hefty rate hike in announcing an extraordinary policy meeting for Tuesday. President Vladimir Putin’s economic adviser earlier rebuked the central bank as the rouble slid past…
(Reuters) – The Biden administration issued a business advisory for South Sudan on Monday, urging U.S. businesses and citizens in the region to undertake “robust due diligence” on corruption and human rights issues or abuses, according to a statement from the State Department. “The advisory highlights the growing reputational, financial, and legal risks to U.S….
By David Shepardson (Reuters) – The White House on Monday issued guidance to boost the use of U.S.-made goods including steel, iron and other construction materials, in government-funded infrastructure projects. The “Buy America” binding guidance, first proposed in February, was finalized by the White House Office of Management and Budget (OMB) after receiving nearly 2,000…
