WASHINGTON (Reuters) – Reed Hastings, a major Democratic Party donor and a co-founder of streaming platform Netflix, has called for Democratic U.S. President Joe Biden to step aside as a presidential candidate following his debate performance last week, the New York Times reported on Wednesday. “Biden needs to step aside to allow a vigorous Democratic…
By Jonathan Stempel (Reuters) – The former senior Apple lawyer who avoided prison time after pleading guilty to insider trading must pay a $1.15 million fine in a related U.S. Securities and Exchange Commission civil case, a federal judge ruled on Tuesday. U.S. District Judge William Martini in Newark, New Jersey, said that while Gene…
By Luc Cohen and Susan Heavey NEW YORK/WASHINGTON (Reuters) -Donald Trump’s sentencing for his conviction on criminal charges stemming from hush money paid to a porn star was delayed on Tuesday until Sept. 18, less than seven weeks before the U.S. election. Justice Juan Merchan pushed back the sentencing date so he can weigh the former U.S….
By Sabrina Valle HOUSTON (Reuters) – The final member has been chosen for a three-person arbitration panel meant to settle Exxon Mobil’s claim against Chevron’s $53 billion purchase of Hess Corp, two people familiar with the matter told Reuters. The panel’s formation would be a milestone in a long-delayed process that has cast uncertainty over…
By Anna Tong and Krystal Hu (Reuters) – Magic, a U.S. startup developing artificial-intelligence models to write software, is in talks to raise over $200 million in a funding round valuing it at $1.5 billion, just several months after its last capital raise, three sources told Reuters. Investors including Jane Street are expected to participate…
By Granth Vanaik and Siddharth Cavale (Reuters) – Keith Gill, the meme stock trader “Roaring Kitty,” thrust Chewy Inc into the spotlight when he made a $245 million bet on the online pet products retailer on Monday. What is Chewy and why has it attracted Gill’s interest? WHAT’S THE BUSINESS? Chewy is an $11 billion…
WASHINGTON (Reuters) – U.S. manufacturing contracted for a third straight month in June and a measure of prices paid by factories for inputs dropped to a six-month low amid weak demand for goods, indicating that inflation could continue to subside. The Institute for Supply Management (ISM) said on Monday that its manufacturing PMI slipped to…
By Foo Yun Chee BRUSSELS (Reuters) -Meta Platforms was charged by EU antitrust regulators on Monday for failing to comply with landmark tech rules as they took aim at the U.S. company’s newly introduced pay or consent advertising model, already the target of privacy regulators and activists’ ire. The tech giant launched the no-ads subscription…
(Reuters) – Google said on Monday it would make it mandatory for advertisers to disclose election ads that use digitally altered content to depict real or realistic-looking people or events, its latest step to battle election misinformation. The update to the disclosure requirements under the political content policy requires marketers to select a checkbox in…
By Aishwarya Venugopal and Ananya Mariam Rajesh (Reuters) – Nike will roll out new $100-and-under sneakers in countries around the world, its chief financial officer said Thursday, as the sportswear giant tweaks its product lineup in a plan aimed at getting sales back on track. Nike has significantly hiked the list price of its top-end…
