By David Shepardson WASHINGTON (Reuters) -U.S. Federal Trade Commission Chair Lina Khan is set to testify on July 13 before the House Judiciary Committee led by Republicans who have sharply criticized her leadership of the antitrust enforcement agency, the committee and commission confirmed on Friday. This will be her first appearance before the committee since…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed lower on Friday, capping a week dominated by Federal Reserve Chairman Jerome Powell’s testimony in which he signaled more interest rate hikes ahead but vowed the central bank would proceed with caution. All three major U.S. stock indexes lost ground in a broad sell-off. Interest-sensitive…
By Steve Holland, Simon Lewis and Jeff Mason WASHINGTON (Reuters) -Indian Prime Minister Narendra Modi met with U.S. and Indian technology executives in Washington on Friday, the final day of a state visit where he agreed new defense and technology cooperation and addressed challenges posed by China. U.S. President Joe Biden rolled out the red…
By Brendan Pierson (Reuters) – A federal judge has ruled in favor of Volkswagen in lawsuits brought against the automaker by two U.S. counties over its diesel emissions cheating scandal. U.S. District Judge Charles Breyer in San Francisco ruled Thursday that Utah’s Salt Lake County and Florida’s Hillsborough County could not prove that Volkswagen violated…
(Reuters) – Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the company’s valuation to about $150 billion, Bloomberg News reported on Friday, citing people familiar with the matter. In January, the company was valued at $137 billion after raising $750 million in a funding round, according to a…
By David Shepardson WASHINGTON (Reuters) – United Auto Workers (UAW) union President Shawn Fain on Friday harshly criticized the U.S. Energy Department plan to lend $9.2 billion to a joint venture of Ford Motor and South Korea’s SK On to build three U.S. battery plants. Fain called the loan a massive “giveaway” with “no consideration…
(Reuters) – Spirit AeroSystems Inc said it will meet with the U.S. machinists union on Saturday to continue negotiations for a new contract, after workers rejected a proposed four-year deal and announced a strike. Shares of Spirit were up 4.8% in afternoon trade on Friday. The company, a crucial supplier for aerospace heavyweights Boeing and…
By David Shepardson WASHINGTON (Reuters) -United Auto Workers (UAW) union President Shawn Fain on Friday harshly criticized the U.S. Energy Department plan to lend $9.2 billion to a joint venture of Ford Motor and South Korea’s SK On to build three U.S. battery plants. Fain called the loan a massive “giveaway” with “no consideration for…
By Natalie Grover and Eva Mathews (Reuters) -GSK agreed to settle a U.S. lawsuit alleging its discontinued heartburn drug Zantac caused cancer, the British drugmaker said on Friday, preventing the first such case from going to trial next month. The company said it had reached a confidential deal with Californian resident James Goetz who says…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Friday backed cryptocurrency exchange Coinbase Global Inc’s bid to halt customer lawsuits while it pursues appeals aimed at moving the disputes out of courts and into private arbitration, which businesses often prefer over litigation. The justices, in a 5-4 decision, overturned a lower court’s ruling involving…
