By Hannah Lang and Jody Godoy (Reuters) -A federal judge in Manhattan on Wednesday said the U.S. Securities and Exchange Commission’s lawsuit against Coinbase can move forward, but dismissed one claim the regulator made against the largest U.S. cryptocurrency exchange. U.S. District Judge Katherine Polk Failla partly granted Coinbase’s motion to dismiss the SEC’s lawsuit […]
Rite Aid reaches bankruptcy settlement with lenders, DOJ, McKesson
By Dietrich Knauth NEW YORK (Reuters) -Pharmacy chain Rite Aid has reached a settlement with its lenders, the U.S. Department of Justice, and drug supplier McKesson Corp, clearing a path for Rite Aid to complete its bankruptcy case by late April, a company lawyer said Tuesday. “We have reached an agreement on all key points […]
Boeing CEO Dave Calhoun to step down in shakeup amid safety crisis
By David Shepardson and Allison Lampert (Reuters) – Boeing CEO Dave Calhoun will step down by year-end in a broad management shakeup brought on by the planemaker’s sprawling safety crisis exacerbated by a January mid-air panel blowout on a 737 MAX plane. In addition, board chair Larry Kellner and Stan Deal, head of the company’s […]
Luxury EV maker Lucid to raise $1 billion from Saudi’s PIF affiliate
(Reuters) -Lucid said on Monday it is raising $1 billion in capital from an affiliate of Saudi Arabia’s Public Investment Fund (PIF), sending the shares of the luxury electric carmaker up about 8%. The latest investment by the sovereign wealth fund underscores a key advantage Lucid has in the race for survival among struggling EV […]
Chrysler to recall about 286,000 US vehicles over airbag inflator issue, NHTSA says
(This March 22 story has been refiled to change SABIC to side air bag inflatable curtain in paragraph 4) (Reuters) – Chrysler is recalling nearly 286,000 vehicles in the United States over a manufacturing defect that might cause the side curtain airbag inflators to rupture, the National Highway Traffic Safety Administration (NHTSA) said on Friday. […]
Apple accused of monopolizing smartphone markets in US antitrust lawsuit
By Stephen Nellis, Andrew Goudsward and David Shepardson WASHINGTON (Reuters) -The U.S. Department of Justice and 15 states on Thursday sued Apple as the government cracks down on Big Tech, alleging the iPhone maker monopolized the smartphone market, hurt smaller rivals and drove up prices. Apple joins competitors sued by regulators, including Alphabet’s Google, Meta […]
Cheerios Maker General Mills Tops Quarterly Estimates On Higher Product Prices
By Granth Vanaik (Reuters) -General Mills topped market expectations for third-quarter sales and profit on Wednesday, backed by higher prices for its breakfast cereals, snack bars and pet food products that helped cushion a blow from slowing demand. Shares of the Minnesota-based company rose 7% in early trading after it reaffirmed its annual sales and […]
Bankrupt crypto lender Genesis to pay $21 million to settle SEC charges
(Reuters) – Genesis Global Capital LLC has agreed to pay a $21 million civil fine to settle charges that it illegally sold securities through its crypto lending program without registering them, the U.S. Securities and Exchange Commission said on Tuesday. The deal resolves January 2023 charges the SEC filed against Genesis and Gemini Trust Company […]
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Coinbase must face US securities regulator’s lawsuit, judge says
March 27, 2024
By Hannah Lang and Jody Godoy (Reuters) -A federal judge in Manhattan on Wednesday said the U.S. Securities and Exchange Commission’s lawsuit against Coinbase can move forward, but dismissed one claim the regulator made against the largest U.S. cryptocurrency exchange. U.S. District Judge Katherine Polk Failla partly granted Coinbase’s motion to dismiss the SEC’s lawsuit […]
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