By Sarah N. Lynch WASHINGTON (Reuters) – The U.S. Justice Department this week charged the top law enforcement official in Culpeper County, Virginia, with fraud, conspiracy and bribery, alleging he abused his authority by handing out deputy sheriff badges in exchange for cash to fund his re-election campaign. In an indictment unsealed on Thursday in…
By Scott Murdoch and Kane Wu SYDNEY/HONG KONG (Reuters) – Chinese companies are finding it challenging to get timely regulatory approvals for overseas share offerings as scrutiny of their proposals has intensified under new listing rules, frustrating potential issuers and investment bankers. Since the launch of the overhauled listing regime on March 31, not a…
By Blake Brittain (Reuters) – Two U.S. authors sued OpenAI in San Francisco federal court on Wednesday, claiming in a proposed class action that the company misused their works to “train” its popular generative artificial-intelligence system ChatGPT. Massachusetts-based writers Paul Tremblay and Mona Awad said ChatGPT mined data copied from thousands of books without permission,…
By Blake Brittain WASHINGTON (Reuters) – Limiting the foreign reach of American trademark law, the U.S. Supreme Court on Thursday threw out a $96 million jury award for Methode Electronics Inc’s Hetronic International in its fight with its former European distributor for selling Hetronic-branded products with unauthorized parts. The decision overturned a lower court’s ruling…
By Jesús Aguado, David Latona and Padraic Halpin (Reuters) -U.S. central bankers are likely to resume their rate hike campaign after a break earlier this month, Federal Reserve Chair Jerome Powell signaled on Thursday, as a fresh slew of stronger-than-expected U.S. economic data underscored why more monetary tightening is likely needed. “We did take one…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled higher on Thursday after flip flopping during the session, supported by a bigger draw than expected in U.S. crude inventories but pressured by fears that rising interest rates could dent global economic growth. Brent crude futures rose 31 cents, or 0.4%, to $74.34 a barrel. U.S. West…
(Reuters) – Financial firms are once again lining up to attempt to get their proposed spot bitcoin exchange-traded-funds approved by the U.S. securities regulator. The Securities and Exchange Commission (SEC) has rejected dozens of applications, saying the proposals have not met anti-fraud and investor protection standards. These are the major firms with live SEC applications:…
By Michael S. Derby (Reuters) – Federal Reserve Bank of Atlanta President Raphael Bostic reiterated on Thursday his belief that the likely path of inflation will save the central bank from having to raise its short-term rate target again. “We have reached a level of the nominal federal funds rate that should be sufficient to…
By David Morgan WASHINGTON (Reuters) – U.S. House Republicans sought testimony on Thursday from more than a dozen officials from the Justice Department, FBI and other government agencies involved in the federal tax investigation of President Joe Biden’s son, Hunter. Three Republican committee chairs in the House of Representatives said the testimony is necessary in…
WASHINGTON (Reuters) – The U.S. Federal Reserve announced on Thursday that 57 firms have been certified to utilize its “FedNow” instant payments system after it launches in late July. The Fed did not provide a specific date for the launch, but 41 banks and 15 service providers, including large firms like JPMorgan Chase, Bank of…
