DIRS.INFO The most relevant business & tech news

U.S. District Judge Jed Rakoff in Manhattan said the bank must turn over requested documents from 2015 to 2019, a period after JPMorgan had dropped Epstein as a client. The U.S. Virgin Islands has called Dimon "a likely source of relevant and unique information" about why JPMorgan kept Epstein on, and discussions on Epstein's referrals of prominent and wealthy potential clients. Lawyers for the U.S. Virgin Islands did not immediately respond to requests for comment. JPMorgan wants Staley to reimburse it for damages it might incur in the other lawsuits, and return eight years of compensation. The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

The Wall Street bank also wants Staley to repay all compensation from 2006 to 2013. Staley has acknowledged having been friendly with Epstein, but expressed regret for their relationship and denied knowing about the financier's alleged crimes. Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Staley resigned as Barclays' chief executive in November 2021 amid a dispute with British financial regulators examining his ties to Epstein. The cases are JPMorgan Chase Bank NA v Staley, U.S. District Court, Southern District of New York, No.

LONDON, March 8 (Reuters) - The founder of collapsed private equity company Abraaj Group on Wednesday lost a bid to challenge his extradition from London to the United States to face fraud charges. Judge Jonathan Swift on Wednesday refused Naqvi permission to bring a judicial review against the 2021 approval of his extradition to the United States. Naqvi also suffers from severe depression and there is a “real risk” of suicide if he is extradited, Fitzgerald argued. The judge also said that Naqvi’s suicide risk could be adequately managed if he was held in prison. Naqvi’s lawyer did not immediately respond to a request for comment.

Bitcoin futures ETFs track bitcoin futures contracts, or agreements to purchase or sell bitcoin at a certain price on a specified date. A spot bitcoin ETF would track bitcoin's underlying market price. Proponents say a spot bitcoin ETF would give investors exposure to bitcoin without directly buying it. He told Reuters in January that Grayscale would appeal the case if the court backed the SEC's decision to reject its bitcoin ETF proposal. Grayscale Bitcoin Trust, launched in 2013, has $14 billion in assets under management, according to Grayscale’s website.

U.S. Bankruptcy Judge Michael Wiles approved Voyager's restructuring plan, which is built around the Binance.US acquisition, at a hearing in New York. Binance has agreed to pay $20 million in cash to Voyager, and to take on crypto assets deposited by Voyager customers. The customers' crypto assets, valued at $1.3 billion in February, account for the bulk of the deal's valuation, according to Voyager. Wiles approval of Voyager's plan allows it to begin transferring customer accounts to Binance, but Voyager could still walk away from the deal. Palo Alto-based Binance.US has said it is "fully independent" of its international parent company Binance, which is owned by Chinese-born and Singapore-based Changpeng Zhao.

Bitcoin futures ETFs track bitcoin futures contracts, or agreements to purchase or sell bitcoin at a certain price on a specified date. A spot bitcoin ETF would track bitcoin's underlying market price. Proponents say a spot bitcoin ETF would enable investors to gain exposure to bitcoin without directly buying it. The agency has denied more than a dozen spot bitcoin ETF applications, all of which it said lacked surveillance-sharing agreements to detect potential manipulation. Grayscale Bitcoin Trust, launched in 2013, has $14 billion in assets under management, according to Grayscale’s website.

March 7 (Reuters) - Rio Tinto (RIO.AX) said on Tuesday it had agreed to pay a $15 million civil penalty to settle an investigation by the U.S. Securities and Exchange Commission, relating to an alleged bribery scheme involving a consultant in Guinea. The company, one of the world's top iron ore producers, has been fined for violations of the Foreign Corrupt Practices Act by the U.S. SEC. Rio Tinto said it would pay the charges without admitting to or denying the SEC's findings that it violated books and records. Reporting by Riya Sharma in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Companies TikTok FollowWASHINGTON, March 6 (Reuters) - A group of 45 state attorneys general in the United States on Monday demanded Chinese-owned social media app TikTok produce subpoenaed materials sought in an ongoing nationwide consumer protection investigation. On Monday the states urged a Tennessee state court to compel TikTok answer requests for information. TikTok, owned by Chinese tech company ByteDance, is facing renewed scrutiny worldwide over its proximity to the Chinese government and protection of user data. Like other social media apps, TikTok has also faced criticism for not doing enough to shield teens from inappropriate content. Parents will now also be able to set custom time limits for their teens' TikTok usage depending on the day of the week, the company said.

Companies Grayscale Investments LLC FollowMarch 6 (Reuters) - FTX said on Monday its affiliate Alameda Research had sued asset manager Grayscale Investments for imposing a "redemption ban" that "could realize over a quarter billion dollars" of asset value for the bankrupt cryptocurrency exchange's customers. If Grayscale had reduced its fees and did not implement redemption prevention measures, which the cryptocurrency exchange alleges are improper, FTX's shares would be worth nearly 90% more than the current value of those locked up with the asset manager, FTX said. FTX also accused Grayscale owner Digital Currency Group of breaching trust agreements and fiduciary duties. Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON, March 6 (Reuters) - U.S. auto safety regulators said Monday they are opening a probe into Amazon (AMZN.O) unit Zoox self-certification in 2022 of a robotaxi without traditional driving controls. The National Highway Traffic Safety Administration (NHTSA) in September directed Zoox to answer questions about its basis for certifying the vehicle and that review is ongoing. NHTSA said Monday it is opening an audit query to determine whether the Zoox "certification basis depended upon unilaterally developed test procedures or determinations that certain standards were inapplicable due to the unique configuration of the vehicle." Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

Companies TikTok FollowWASHINGTON, March 6 (Reuters) - A group of 45 state attorneys general on Monday demanded Chinese-owned social media app TikTok produce subpoenaed materials sought in an ongoing nationwide consumer protection investigation. The states are seeking to review internal TikTok communications to determine whether the company engaged in deceptive conduct that harmed mental health of TikTok users, particularly children and teens, Florida Attorney General Ashley Moody said. On Monday the states urged a Tennessee state court to compel TikTok's requests for information. Reporting by David Shepardson,Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

The case stems from a sweeping probe of corruption in international soccer and its world governing body, FIFA. The government’s case hinges largely on the testimony of Argentine businessman Alejandro Burzaco, who has pleaded guilty to bribing soccer officials but has yet to be sentenced. Burzaco told jurors that Martinez and Lopez were aware of and approved the scheme, which he said they discussed during multiple meetings. Lawyers for Martinez and Lopez told jurors during closing arguments on Friday that their clients were unaware of Burzaco’s scheme. Prosecutors said Burzaco’s testimony was “devastating” and alleged that emails showed him discussing the bribes with Martinez and Lopez in coded terms.

The plaintiffs accused Ocala of violating the U.S. Constitution's First Amendment "establishment clause," which restricts governmental involvement in religion. Ocala city officials helped organize and conduct the one-hour prayer vigil held in response to a series of shootings in which three children were struck by stray bullets. The city then appealed to the U.S. Supreme Court. A federal district court will now weigh the plaintiffs' establishment clause claims in light of the football coach ruling. The conservative-majority Supreme Court in recent years has chipped away at the wall separating church and state, eroding American legal traditions aimed at barring government officials from promoting any particular faith.

NEW YORK, March 4 (Reuters) - Sam Bankman-Fried should be allowed while on bail to have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices, the U.S. Department of Justice said. The judge said he did not want to set Bankman-Fried "loose in this garden of electronic devices," following accusations that Bankman-Fried tried to contact possible government witnesses and used a virtual private network to watch football. The proposed flip phone or other non-smartphone for Bankman-Fried would be limited to voice calls and SMS text messages. Laptop internet use would be restricted to specified virtual private networks, 23 websites for personal use including news, sports and food delivery, and websites to help Bankman-Fried prepare for his scheduled Oct. 2 trial. The parents agreed to submit sworn affidavits that they would not bring other electronic devices into their home or let their son use theirs.

March 3 (Reuters) - A Michigan judge on Friday dismissed a school district and its employees as defendants in two wrongful death lawsuits stemming from a deadly 2021 mass shooting by a 15-year-old student armed with a gun his parents had bought him for Christmas. Remaining as defendants in the civil lawsuits are the gunman, Ethan Crumbley, who has since pleaded guilty to murder charges, and his parents, James and Jennifer Crumbley, who have been charged with involuntary manslaughter in the shooting. Instead, he was returned to class, and emerged from a bathroom a short time later to go on his rampage. School districts cannot be sued over "the exercise or discharge of a governmental function," and none of the exceptions recognized under statutes or case law apply, the judge wrote. Ultimately, however, "Ethan Crumbley's act of firing the gun, rather than the alleged conduct of the individual Oxford defendants" was the proximate cause of injuries, the judge held.

March 3 (Reuters) - Lawyers for two former 21st Century Fox executives accused of bribing South American soccer officials assailed the credibility of the government’s star witness on Friday, as their seven-week trial draws to a close. Cooperating witness Alejandro Burzaco testified that his former business partners knew about and approved the bribes. The case is part of a sweeping corruption probe of global soccer and its governing body, FIFA. Full Play Group SA, a co-defendant in the case, is also accused of bribing soccer officials. The Argentina-based sports marketing company’s lawyers have argued bribery is an entrenched part of doing business in South America and therefore not fraudulent activity.

REUTERS/Mike Blake/File PhotoMarch 3 (Reuters) - Urban scooter company Lime sued Hertz Corp on Thursday alleging unfair competition and accusing the rental car giant of improperly hiring the startup's senior engineers. The loss of engineers has "significantly harmed" Lime, which provides short-term e-bike and scooter rentals in about 30 countries. Hertz Corp, which operates the Hertz, Dollar and Thrifty vehicle rental brands, is a subsidiary of Hertz Global Holdings Inc (HTZ.O). Cong, now at Hertz, did not immediately respond on Friday to a message seeking comment. A representative from Lime did not immediately respond to a message seeking comment.

Companies Ripple Labs Inc FollowMarch 3 (Reuters) - Ripple Labs Inc said in court papers Friday that a recent U.S. Supreme Court decision supports one of its key defenses in the U.S. Securities and Exchange Commission's case over the cryptocurrency XRP. The SEC has asked Torres to decide that Ripple had fair notice that XRP was a security under U.S. law. Ripple and the executives have said the question of whether or not the law was vague should go to trial. A ruling in the case could further define what digital assets are considered securities in the U.S. The case is SEC v. Ripple Labs Inc, U.S. District Court, Southern District of New York, No.

NEW YORK, March 3 (Reuters) - Donald Trump is seeking a six-month delay in the New York attorney general's fraud case against him and his company, which if granted would likely push back any trial until deep into the 2024 presidential campaign. "The complaint seeks to deprive defendants of their constitutionally protected right and ability to transact business," Trump said. Trump's request was joined by the other defendants, including three of his adult children Donald Jr, Eric and Ivanka. Trump, a Republican, has called James' case a partisan witch hunt. Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

On Thursday a South Carolina jury declared Murdaugh, 54, guilty on two counts of gunning down his wife Maggie, 52, and youngest son, Paul, 22 on their family estate on June 7, 2021. Murdaugh, the scion of an influential legal family in an area west of Charleston, faces 30 years to life in prison for each of the two counts of murder under South Carolina law. After listening to testimony over five weeks, the jury took only three hours to deliberate before reaching their verdict. The case has drawn intense media coverage given the family's immense political power in and around Colleton County, where the trial took place. Throughout the trial, prosecutors portrayed Murdaugh as a serial liar and argued that only he had the means and the opportunity to commit the murders.

Circuit Court of Appeals said an advocacy group, FlyersRights.org, had no right to force the FAA to adopt seating rules because it was not "clear and indisputable" that tight seating, while uncomfortable, was also dangerous. Congress had in 2018 given the FAA one year to establish minimum seating dimensions including pitch, the distance between seatbacks, that were "necessary" for passenger safety. "To be sure, many airline seats are uncomfortably small. "But it is not 'clear and indisputable' that airline seats have become dangerously small. Circuit Court of Appeals, No.

Companies Exxon Mobil Corp FollowMarch 2 (Reuters) - Exxon Mobil Corp (XOM.N) was sued for racial discrimination by a U.S. federal agency on Thursday, with charges alleging that the oil major failed to protect workers from harassment after nooses were found at one of its facilities in 2020. The EEOC said that at the time of this report, Exxon was already aware of three other such instances of nooses being displayed at the complex and a nearby refinery, and that a fifth noose was reported later in 2020. According to the EEOC, Exxon investigated some of these incidents, but not all, and "failed to take measures reasonably calculated to end the harassment." The federal agency alleged that Exxon's actions and omissions regarding the noose incidents "created a racially hostile work environment." The symbols of hate are unacceptable, offensive, and in violation of our corporate policies", Exxon said in a statement.

March 3 (Reuters) - Republican-backed bills introduced in legislatures in several U.S. states target the use of a planned merchant code for credit card transactions at gun retailers that is intended to detect suspicious firearms and ammunition sales. read moreMajor credit and debit card companies have committed to using the "merchant category code" for gun sellers, a development welcomed by gun control advocates who call it an important new tool for investigating suspicious purchases. FLORIDAA bill introduced in Florida is meant to prohibit banks and other companies in the payment-settlement process from assigning the code "separately from general merchandise or sporting goods retailers." The bill passed the state House of Representatives on Feb. 9 and is under consideration in the state Senate. West Virginia's bill was passed by the state House of Delegates on Feb. 3 and awaits further action in the state Senate.

Companies Google Inc FollowAlphabet Inc FollowMarch 2 (Reuters) - Consumers suing Alphabet Inc's (GOOGL.O) Google LLC over its data collection practices have lost their early appeal to pursue money damages as a class action seeking billions of dollars. Plaintiffs sued Google in 2020, claiming that Google continued to collect data from users despite their use of private-browsing in Chrome's "Incognito" mode. Circuit Court of Appeals in San Francisco on Wednesday rejected the plaintiffs' bid to appeal a lower court decision last year that denied class action status for money damages claims against Google. The damages class would include at least "tens of millions" of Google browser users, court filings indicate. Google has denied that it deceived anyone over private-browsing, saying its Chrome browser users consented to the company's data collection.

The SEC, which has objected to the sale, is currently investigating whether Voyager's crypto lending business involved the sale of unregistered securities. When pressed by Wiles as to whether the SEC believed that the Voyager sale violated U.S. securities laws, SEC attorney William Uptegrove did not have a definite answer. The Binance transaction includes a $20 million cash payment and an agreement to transfer Voyager's customers to Binance.US's crypto exchange. The crypto assets deposited by Voyager customers account for the bulk of the deal's valuation, according court documents. CFIUS did not formally object to the Binance sale, but it warned that its ongoing review of national security concerns could end up blocking the deal.

Search resuls for: "Thomson Reuters Institute"

25 mentions found