LONDON (Reuters) -A proposed 2.7 billion pound ($3.5 billion) mass lawsuit against major banks including JPMorgan and Citigroup over alleged foreign exchange rigging was revived by a London court on Tuesday. The case was originally brought by Phillip Evans, a former inquiry chair at Britain’s Competition Markets Authority, on behalf of thousands of asset managers,…
By Jonathan Stempel NEW YORK (Reuters) -Starbucks violated U.S. labor law by firing a Manhattan store supervisor who had organized workers to join a union, a federal labor board judge ruled on Monday. The National Labor Relations Board established “striking and strong evidence of animus” behind Starbucks’ termination of Rhythm Heaton as a shift supervisor…
By Doyinsola Oladipo NEW YORK (Reuters) – Retail giant Walmart on Tuesday said it is teaming up with online travel agency Expedia Group to offer its subscription service members travel benefits for the first time as retailers increase service offerings to offset a slowing in spending on goods. Walmart joins Amazon and others who are…
By Ted Hesson and Kristina Cooke WASHINGTON (Reuters) -A U.S. federal judge on Tuesday blocked President Joe Biden’s new regulation restricting asylum access at the U.S.-Mexico border, upending a key tenet of his plan to deter migration after COVID-era Title 42 restrictions ended in May. California-based U.S. District Judge Jon Tigar stayed the order for…
By Jonathan Stempel NEW YORK (Reuters) – The billionaire investor Leon Black was sued on Tuesday by an autistic woman who says he raped her in the disgraced financier Jeffrey Epstein’s mansion in Manhattan in 2002, when she was 16. In a complaint filed in Manhattan federal court, the woman, using the pseudonym Jane Doe,…
By Paul Lienert (Reuters) – General Motors will begin assembling electric vehicle battery packs near its BrightDrop commercial van plant in Ingersoll, Ontario, in the second quarter of 2024, the company said Tuesday, and will add pack assembly at other North American plants. The 400,000-square-foot Ingersoll facility will make packs for CAMI Assembly, which last…
By Chris Prentice (Reuters) -The U.S. accounting watchdog has found an “absolutely unacceptable” level of serious deficiencies in public company audits it inspected in 2022, chair Erica Williams said in a statement on Tuesday. The Public Company Accounting Oversight Board (PCAOB), which inspected 157 audit firms last year, said in a preliminary report that it…
By David Morgan WASHINGTON (Reuters) -The U.S. House of Representatives is due to begin voting this week on a series of Republican spending bills for fiscal 2024 that could lead to a new standoff between hardline conservatives and party leaders including Speaker Kevin McCarthy. Lawmakers will consider two appropriations bills that would provide $155.7 billion…
By Laura Matthews NEW YORK (Reuters) – The dollar was flat against a basket of its major peers on Tuesday, as investors hope a trio of central bank meetings this week will provide guidance on the outlook for monetary policy. Signs of an extremely resilient U.S. economy helped the currency recover from a recent 15-month…
By David Morgan and Costas Pitas WASHINGTON (Reuters) -Republican U.S. Senator Rick Scott and Democrat Elizabeth Warren have asked for salary information from the Federal Reserve’s inspector general, the central bank’s watchdog, in a push to make the role independent, a letter seen by Reuters on Tuesday shows. The IG’s office said it was reviewing…
