By Ann Saphir and Howard Schneider (Reuters) – A critical flow of data heading to the Federal Reserve’s June meeting, and a possible rate hike pause, began Friday with a stronger-than-anticipated jobs report showing U.S. payrolls and wage growth remain resilient. Data showing the economy added 253,000 jobs in April, with hourly wages growing at…
By Trevor Hunnicutt and Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden picked a senior aide, Neera Tanden, to replace Susan Rice as his domestic policy adviser, the White House said in a statement. Tanden, a longtime Democratic aide who served in two prior presidential administrations, will take on one of the most senior…
(Reuters) – The U.S. Securities and Exchange Commission (SEC) has issued its largest ever award of nearly $279 million to a whistleblower whose information helped the regulator’s enforcement action, it said on Friday. The regulator did not disclose the case concerned in its statement. The award is more than double the $114 million that it…
By Koh Gui Qing NEW YORK (Reuters) – As investors and financial experts pored over Hindenburg Research’s allegations against activist investor Carl Icahn’s holding company this week, one easy-to-verify claim stood out in the short seller’s report. Hindenburg said Icahn Enterprises LP (IEP) valued a meat packing company in which it owns a 90% stake…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom’s Chief Executive Hock Tan on Friday will try to convince EU antitrust enforcers that his proposed $61 billion bid for cloud computing firm VMware, which has triggered scrutiny on both sides of the Atlantic, is pro-competitive. Tan, flanked by his executives and lawyers, arrived early…
By Andrew Hay (Reuters) – Alabama authorities discriminated against Black residents of a rural county by denying access to adequate sewage systems and fining them for sanitation problems beyond their control, according to a first-of-its kind environmental justice agreement announced on Thursday by the Biden administration. Under the deal that followed an 18-month federal probe,…
By Dietrich Knauth (Reuters) – Bankrupt crypto exchange FTX received U.S. bankruptcy court permission on Thursday to sell its LedgerX business for $50 million, raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey signed off on FTX’s sale of LedgerX, its non-bankrupt crypto derivatives trading platform, to…
By Jonathan Stempel OMAHA, Nebraska (Reuters) – One of Berkshire Hathaway Inc’s longest-serving directors said Greg Abel has the ability and commitment to its culture that makes him an ideal fit to lead the $700 billion-plus conglomerate now run by Warren Buffett, but that a transition isn’t likely to happen soon. Questions about how long…
DENVER (Reuters) – U.S. shale producer EOG Resources on Friday said it may delay some well completions in its Dorado natural gas play in Texas due to a low price environment. Natural gas prices tumbled around 50% at the start of this year. On Friday Henry Hub futures were trading around $2.13 per million British…
WASHINGTON (Reuters) – Buying land near eight U.S. military bases could become more difficult for foreign companies and citizens under a Treasury Department rule proposed by the Biden administration on Friday. The proposed rule would expand the jurisdiction of the Treasury’s Committee on Foreign Investment in the United States, which reviews foreign investment and real…
