By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in U.S. Bankruptcy Court in Delaware targeting…
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday ruled against Amgen Inc in its bid to revive patents on its cholesterol-lowering drug Repatha in a legal clash with French rival Sanofi SA. The 9-0 ruling upheld a lower court’s decision that had invalidated Amgen’s patents on the grounds that the Thousand Oaks,…
By Andrew Chung (Reuters) – The U.S. Supreme Court on Thursday sidestepped a challenge to federal protections for internet and social media companies that free them of liability for content posted by users in a case involving a lawsuit against Google LLC involving the practices of video-sharing platform YouTube. The justices, in a brief and…
(Reuters) – The U.S. Consumer Product Safety Commission (CPSC) on Thursday approved a repair for a rear guard of Peloton Interactive Inc’s recalled ‘Tread+’ treadmill. The fitness equipment maker had announced a costly recall of its ‘Tread+’ treadmill in 2021 following the reports of multiple injuries and the death of a child in an accident….
LONDON (Reuters) – An investor has raised a fresh question with the EMEA Credit Derivatives Determination Committee on whether a credit event occurred with regards to Credit Suisse, renewing a push to trigger payout on credit insurance linked to the Swiss lender. The question, which is asking for a ruling on whether a bankruptcy credit…
By Lisa Baertlein CHICAGO (Reuters) – Some U.S. importers who shifted cargo away from West Coast ports to rival gateways over fears that labor contract talks could disrupt shipments have begun bringing some of that volume back, even as those negotiations stretch into their 13th month, company supply chain executives said. But anxiety over labor…
By Shadia Nasralla LONDON (Reuters) -Oil prices were broadly stable on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging in the previous session on optimism over U.S. fuel demand. Brent crude futures inched down 13 cents, or 0.2%, to $76.83 a barrel as of…
TOKYO (Reuters) -Japan’s Panasonic Holdings Corp aims to ramp up production of battery cells used in electric vehicles by building at least two new factories in North America, it said on Thursday. The company, whose energy unit makes batteries for Tesla Inc, seeks to boost its auto battery capacity to 200 gigawatt hours per year…
By Ruma Paul and Sudarshan Varadhan DHAKA (Reuters) – Apparel makers in Bangladesh are considering rare bulk exports by air to Europe and the United States, as they race to meet deadlines and avoid cancellations after a cyclone delayed shipments, caused power cuts and disrupted production. The crunch could disrupt summer clothes supplies for retailers…
By Jonathan Stempel NEW YORK (Reuters) – Deutsche Bank AG has agreed to pay $75 million to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. The accord resolves claims in a proposed class action in Manhattan federal…
