By Jonathan Stempel NEW YORK (Reuters) – Trader Joe’s was sued on Wednesday by a consumer who accused the grocery chain of misleading and endangering shoppers by selling dark chocolate that contains harmful levels of lead and cadmium. The proposed class action was filed in the federal court in Central Islip, New York, one week…
(Reuters) – The Federal Reserve should continue hiking interest rates at its next few meetings at a minimum until it is sure that inflation has peaked, Minneapolis Fed President Neel Kashkari said on Wednesday, as he set out his own forecast that the policy rate should initially pause at 5.4%. “In my view … it…
By David Randall NEW YORK (Reuters) – Tesla Inc’s steep sell-off is proving to be an ongoing nightmare for fund managers that have bet heavily on the Elon Musk-led electric vehicle manufacturer. Overall, 50 actively-managed U.S. equity funds have more than 5% of their assets in the company, exceeding the barrier that many portfolio managers…
PARIS (Reuters) – France’s privacy watchdog CNIL on Wednesday said it had imposed an 8 million euro ($8.49 million) fine linked to ad personalisation in the iPhone maker’s App Store, citing shortcomings with regard to user consent. “The advertising targeting settings available from the “Settings” icon of the iPhone were pre-checked by default”, the CNIL…
By Amruta Khandekar and Ankika Biswas (Reuters) -Wall Street’s main indexes reversed early losses on Wednesday, as investors looked past a set of economic data, with focus squarely on the Federal Reserve’s December meeting minutes for clues on the outlook for interest rates. Minutes from the Fed’s previous meeting, when it raised interest rates by…
By Gilles Guillaume PARIS (Reuters) – Car maker Stellantis will help build Archer Aviation’s electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to…
WASHINGTON (Reuters) -U.S.-based cryptocurrency exchange Coinbase Inc has reached a $100 million settlement with New York’s Department of Financial Services (DFS), the exchange and the regulator said in statements on Wednesday. The settlement, which includes a $50 million penalty, caps the regulator’s investigation into the firm’s compliance with requirements to prevent money laundering. The department…
WASHINGTON (Reuters) -U.S.-based cryptocurrency exchange Coinbase Global Inc has reached a $100 million settlement with New York’s Department of Financial Services (DFS), the exchange and the regulator said in statements on Wednesday. The settlement, which includes a $50-million penalty, caps the regulator’s investigation into the firm’s compliance with requirements to prevent money laundering. DFS found…
By Shubham Batra (Reuters) -Wall Street’s main indexes were set to open higher on Wednesday on hopes of an economic recovery in China, while focus was also on minutes from the Federal Reserve’s December policy meeting for clues on the outlook for interest rate hikes. Minutes from the Fed’s previous meeting, when it raised interest…
(Reuters) -Salesforce Inc said on Wednesday it would lay off about 10% of its employees and close some offices, becoming the latest tech firm to undertake cost cuts amid an economic slowdown. The company expects the move to lead to about $1.4 billion to $2.1 billion in charges, of which about $800 million to $1…
