By Jody Godoy (Reuters) -Determining whether digital tokens are securities will be central to the high-stakes case brought by U.S. regulators alleging crypto platforms Coinbase and Binance violated the law by failing to register as a securities exchange, broker and clearing agency. WHAT IS THE SEC ALLEGING? The Securities and Exchange Commission (SEC) sued Coinbase…
(Reuters) – GameStop posted its fourth consecutive fall in quarterly revenue on Wednesday and missed market estimates, as consumers dialed back non-essential spending in an uncertain economy. The company reported revenue of $1.24 billion for the quarter ended April 29, compared with analysts’ average estimate of $1.36 billion, according to Refinitiv. (Reporting by Samrhitha Arunasalam…
By Leah Douglas (Reuters) – U.S. Democrat and Republican lawmakers in a Wednesday hearing returned to the issue of work requirements for federal food aid, a major tension point during the U.S. debt negotiations that could resurface as policymakers consider critical farm legislation in the coming months. Currently, individuals aged 18 to 49 are required…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) -Conservative U.S. Supreme Court Justice Clarence Thomas, under scrutiny following revelations that he did not disclose luxury trips paid for by a billionaire Dallas businessman, has received an extension to file his mandatory annual financial disclosure, the court said on Wednesday. Seven of the nine justices disclosed…
By Doyinsola Oladipo NEW YORK (Reuters) -Hotel room rates in the U.S. and Europe are rising and may get even more expensive as supply has failed to keep up with demand, industry executives said. U.S. hotel room supply is barely growing as tighter lending standards from regional banks make it harder for developers to secure…
By Karen Brettell NEW YORK (Reuters) – The dollar edged higher against the yen on Wednesday as investors awaited U.S. inflation data for May and the Fed’s interest rate decision next week, while the Canadian dollar jumped after the Bank of Canada hiked rates. The U.S. central bank is expected to hold rates steady next…
WASHINGTON (Reuters) -The U.S. aviation regulator said on Wednesday it was proposing comprehensive training and pilot certification rules for flying taxis, electric vertical takeoff and landing aircraft (eVTOL), which have been touted as the future of urban air mobility. Low-altitude urban aircraft have drawn intense global interest, with numerous eVTOL companies going public. New rules…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices climbed about 1% on Wednesday as Saudi Arabia’s plans for deep output cuts more than offset demand woes stemming from rising U.S. fuel stocks and weak Chinese export data. Brent crude futures settled 66 cents, or 0.9%, higher at $76.95 a barrel, while U.S. West Texas Intermediate crude…
By Jeff Mason and Kanishka Singh WASHINGTON (Reuters) – U.S. President Joe Biden has urged both sides in the West Coast ports labor dispute to continue collective bargaining, White House press secretary Karine Jean-Pierre said on Wednesday, adding acting Labor Secretary Julie Su was actively engaging with the parties. The largest terminal at Southern California’s…
By Michael Martina WASHINGTON (Reuters) – Democratic and Republican U.S. lawmakers on Wednesday urged the State Department to bar Hong Kong’s chief executive, who faces U.S. sanctions, from visiting San Francisco during November’s Asia-Pacific Economic Cooperation summit. The United States is set to host this year’s gathering of leaders of APEC, of which Hong Kong…
