SYDNEY (Reuters) – Australian home prices rose for the third consecutive month in May, with the pace of growth accelerating sharply as demand remained strong despite high mortgage rates, and the number of available homes nudged lower. Figures from property consultant CoreLogic released on Thursday showed national home prices surged 1.2% in May after rising…
By Alison Frankel (Reuters) – Indicted FTX founder Sam Bankman-Fried seems to be gearing up to blame the lawyers who helped him establish the crypto exchange. That’s the subtext of a motion filed on Tuesday by his lawyers at Cohen & Gresser, who are defending Bankman-Fried against federal charges of fraud, conspiracy and bribery. They’re…
By Amy-Jo Crowley LONDON (Reuters) – The owners of All3Media, Britain’s largest independent TV production company, are exploring options that include cashing out on their joint venture in a deal worth more than 1 billion pounds ($1.26 billion), three people familiar with the matter said. Liberty Global Plc and Warner Bros Discovery Inc are considering…
By Brendan Pierson (Reuters) – Johnson & Johnson on Wednesday faced the first trial in almost two years over claims that asbestos in its baby powder and other talc products cause cancer, as it seeks to settle thousands of similar cases in bankruptcy court. Emory Hernandez, 24, says he developed mesothelioma, a deadly cancer, in…
(Reuters) – Billionaire hedge fund manager Bill Ackman said Jamie Dimon should run for president in the next U.S. elections after the JPMorgan Chase & Co CEO expressed his interest in pursuing a public office. “I love my country, and maybe one day I’ll serve my country in one capacity or another,” Dimon said in…
NEW YORK (Reuters) – Facebook owner Meta Platforms said on Wednesday it would remove news content in its home state of California if the state government passed legislation forcing tech companies to pay publishers for journalistic content. The proposed California Journalism Preservation Act would require online platform companies to pay a “journalism usage fee” to…
By Karen Freifeld WASHINGTON (Reuters) – New rules under consideration would restrict the flow of U.S. investments and know-how into Chinese companies working on advanced semiconductors, artificial intelligence and quantum computing, a U.S. Treasury official said on Wednesday. Speaking before a Senate Banking Committee hearing, Paul Rosen, who oversees investment security at Treasury, said officials…
(Reuters) -Harvey Pitt, former chairman of the U.S. Securities and Exchange Commission, has died at the age of 78, Bloomberg Law reported on Wednesday. Pitt died on May 30, the report said, citing Jane Cobb, executive director of the SEC Historical Society. Pitt headed the SEC from 2001 to 2003, a tenure that was mired…
By Nichola Groom and Laila Kearney (Reuters) -BlackRock, Korea’s SK, Switzerland’s UBS and other companies are chasing an investment boom in battery storage plants in Texas, lured by the prospect of earning double-digit returns from the power grid problems plaguing the state, according to project owners, developers and suppliers. Projects coming online are generating returns…
MEXICO CITY (Reuters) – Mexican retail and bottling giant Femsa said Wednesday it had reached a “definitive” agreement to sell its stake in Jetro Restaurant Depot for $1.4 billion. The transaction will close in the second quarter of this year, when it will receive $467 million upfront, with the final chunk paid in the subsequent…
