(Reuters) -Juul Labs Inc won preliminary approval of a settlement aimed at ending thousands of lawsuits alleging the company was a major cause of a youth-vaping epidemic in the United States, according to a court filing on Friday. U.S. District Judge William Orrick in San Francisco said Juul’s deal to settle almost 10,000 lawsuits filed…
By David Shepardson WASHINGTON (Reuters) – Major unions and public interest and environmental groups are urging President Joe Biden to reject efforts by the European Union and other foreign governments to revise U.S. electric vehicle tax incentives. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August restricts $7,500 consumer tax credits to North…
By Jody Godoy SAN FRANCISCO (Reuters) -Elon Musk, Tesla Inc’s chief executive, testified on Friday that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial over his 2018 tweet that he had funding to take the electric carmaker private. Musk’s testimony began with questions about his…
By Andrea Shalal and Jeff Mason DAKAR/WASHINGTON (Reuters) -Treasury Secretary Janet Yellen on Friday warned that the U.S. government cannot choose to pay some bills over others if Congress fails to raise the borrowing limit, as President Joe Biden and top Republican Kevin McCarthy made plans to meet to discuss the issue. Speaking to reporters…
(Reuters) – Morgan Stanley Chief Executive Officer James Gorman’s total compensation for 2022 slipped 10% to $31.5 million, the bank said on Friday. Gorman’s total compensation will include an annual base salary of $1.5 million, a cash bonus of $7.5 million, a deferred equity award of $4.5 million and a performance-based equity award of $18…
By Laila Kearney NEW YORK (Reuters) -Oil settled up about $1 a barrel on Friday and notched a second straight weekly gain as China’s economic prospects brightened, boosting expectations for fuel demand in the world’s second-biggest economy. China’s lifting of COVID-19 restrictions should bring global demand to a record high this year, the International Energy…
By Kylie Madry and David Shepardson MEXICO CITY/WASHINGTON (Reuters) -The U.S. Federal Aviation Administration (FAA) has opened an office in Mexico, the regulatory body said on Friday, a sign the country is looking to aid one of its top travel partners to recover a coveted safety rating after being downgraded in May 2021. The downgrade…
By Andrea Shalal and Kanishka Singh DAKAR/WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that a potential U.S. default could cause a global financial crisis and undermine the role of the dollar as a reserve currency. The U.S. government hit its $31.4 trillion borrowing limit on Thursday, a figure that reflects money already…
WASHINGTON (Reuters) – The U.S. Federal Trade Commission asked a federal judge on Friday to hold Martin Shkreli in contempt for allegedly flouting a judge’s ruling banning him from working in the pharmaceutical industry, according to a court filing. (Reporting by Diane Bartz)
By Dietrich Knauth and Andrew Goudsward (Reuters) -FTX told a U.S. judge on Friday that it has reached an agreement with the U.S. Department of Justice that removes one of the biggest obstacles to hiring its chosen legal advisers to navigate the collapsed crypto exchange’s bankruptcy. FTX is asking U.S. Bankruptcy Judge John Dorsey at…
