By David Lawder and Tyler Clifford WASHINGTON (Reuters) -Russia’s oil profits have likely risen despite lower crude exports and the United States and its allies must find ways to reduce Moscow’s oil revenue, possibly by capping prices, U.S. Deputy Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo told a U.S. Senate Appropriations subcommittee hearing that…
(Reuters) – Electric Last Mile Solutions said in a filing https://www.sec.gov/ix?doc=/Archives/edgar/data/1784168/000121390022032839/ea161577-f8k_electrilast.htm on Tuesday the U.S. commercial electric vehicle startup had commenced bankruptcy proceedings and blamed a lack of funding for the decision. The company said on Sunday investigations by the U.S. Securities and Exchange Commission and an internal committee into the share purchases of former…
(Reuters) – The Federal Trade Commission (FTC) has begun an investigation into SoftBank-backed mental-health startup Cerebral Inc, the Wall Street Journal reported on Tuesday, citing a letter the anti-trust body sent to the company. In a letter dated June 1, FTC said it was investigating whether the company engaged in deceptive or unfair practices related…
By Manas Mishra and Michael Erman (Reuters) -Advisers to the U.S. Food and Drug Administration on Tuesday unanimously recommended that the agency authorize Moderna Inc’s COVID-19 vaccine for children and teens aged 6 to 17 years of age. Around 77 million people in the United States have received at least a two-dose course of Moderna’s…
By Emma Farge and Philip Blenkinsop GENEVA (Reuters) – A global deal to cut fishing subsidies could be struck at a major ministerial meeting of the World Trade Organization this week even though India in particular pushed for a major exemption, officials said on Tuesday. The 27-year-old trade body has not reached a major deal…
By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 ended lower on Tuesday as the index was unable to bounce from a sharp sell-off in the prior session with a key policy statement from the Federal Reserve on deck that will reveal how aggressive the central bank’s policy path will be. Analyst expectations had…
(Reuters) – The U.S. Securities and Exchange Commission said on Tuesday it charged the city of Rochester, New York, and its former executives and an adviser with misleading investors in a $119 million bond offering. The SEC alleges that the officials misled investors with outdated financial statements and did not indicate that the Rochester City…
OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau on Tuesday said his government was watching rising interest rates “with concern,” when asked about the impact higher borrowing costs are having on housing affordability in the country. “We know full well that housing prices are a real concern, especially for middle class Canadians hoping to buy…
WASHINGTON (Reuters) – A top Democratic lawmaker on antitrust issues said Tuesday a bill aimed at reining in the market power of Big Tech platforms like Amazon.com and Alphabet’s Google had the votes to pass the both chambers of Congress in the next few weeks. On the sidelines of an event to rally support for…
By David Shepardson WASHINGTON (Reuters) -U.S. Senate Finance Committee chair Ron Wyden is planning to introduce legislation setting a 21% surtax on oil company profits considered excessive, an aide for the senator told Reuters. The bill applies a 21% additional tax on the excess profits of oil and gas companies with more than $1 billion…
