By David Shepardson WASHINGTON (Reuters) -More than 8.3 million U.S. homes and businesses lack access to high-speed broadband internet, the Federal Communications Commission said Tuesday in unveiling its revised national broadband access map. The FCC said it has increased its estimates of homes and businesses without access by nearly 330,000 locations. The data is crucial…
Rising U.S. labor costs are doing little to drive up inflation, researchers from the Federal Reserve Bank of San Francisco said on Tuesday, a finding that may undercut the argument that wage gains are key to elevated price pressures. The analysis by Adam Shapiro in the latest edition of the FRBSF Economic Letter showed that…
By Noor Zainab Hussain (Reuters) – State Farm said it would stop selling new insurance policies to homeowners in California, exacerbating troubles for thousands in the wildfire-prone state, who are already feeling the heat with coverage getting costlier or harder to come by. State Farm General Insurance Company – State Farm’s provider of homeowners insurance…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company’s broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday. The New York-based 2nd U.S. Circuit Court of Appeals said…
(Reuters) – Nvidia Corp soared to a trillion-dollar market value on Tuesday as shares continued to surge after a bumper earnings report that forced Wall Street to reassess the potential windfall for the chipmaker from an artificial intelligence boom. Here’s an explainer on Nvidia and its role in AI boom. HOW BIG IS NVIDIA IN…
WASHINGTON (Reuters) – Representative Ralph Norman, a hardline conservative Republican, said he will vote against the debt ceiling bill when it comes before the U.S. House Rules Committee later on Tuesday, if it is not amended. (Reporting by David Morgan in Washington)
NEW YORK (Reuters) – Here are some stocks that could benefit, according to analysts at U.S. brokerage BTIG, if U.S. lawmakers this week pass a bipartisan deal to raise the $31.4 trillion debt ceiling, avoiding a potentially catastrophic default. * An agreement to slash funding for the Internal RevenueService by $20 billion is expected to…
By Daphne Psaledakis WASHINGTON (Reuters) – The United States on Tuesday imposed punitive measures on two Syrian money service businesses it said help the government maintain access to the international financial system in violation of sanctions, in Washington’s first action targeting Syria since its readmittance to the Arab League. The U.S. Treasury Department in a…
By Andrew Chung (Reuters) – The U.S. Supreme Court on Tuesday declined to hear a bid by child pornography victims to overcome a legal shield for internet companies in a case involving a lawsuit accusing Reddit Inc of violating federal law by failing to rid the discussion website of this illegal content. The justices turned…
By Blake Brittain WASHINGTON (Reuters) -The U.S. Supreme Court on Tuesday turned away a patent dispute between labeling company Avery Dennison Corp and ADASA Inc that would have given it a chance to clarify a standard that critics have said has sown confusion about what inventions can be legally protected and led to cancellations of…
