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☆ Exclusive: Head of engineering for Trump’s Truth Social app resigns
▼ + stars: | 2023-07-17 | by ( Helen Coster | ) www.reuters.com time to read: +2 min

NEW YORK, July 17 (Reuters) - The head of engineering for the company that operates former U.S. President Donald Trump’s Truth Social app told Reuters on Monday he had resigned, in a blow for the venture. Gleason is the founder of Soapbox Technology, which provides open-source technology for “decentralized” social media platforms that operate on independently-run servers and provide an alternative to Twitter and Facebook. TMTG hired Gleason in January 2022 to adapt Soapbox’s technology for its own needs, eventually using it as the front-end technology - which users see and interact with - for the Truth Social app. Truth Social has struggled to show strong growth in the number of users since its February 2022 launch. Truth Social has an estimated 607,000 monthly users, according to data from Similarweb.

Persons: Donald Trump’s, Alex Gleason’s, Gleason, TMTG, Trump, DWAC, Helen Coster, Deepa Babington Organizations: YORK, Trump Media & Technology, Trump, U.S, Capitol, Twitter, Facebook, Social, Similarweb, Justice Department, Securities and Exchange Commission, Thomson

Potential buyers and sellers are also being deterred by the long wait for deal approvals by regulators, the experts said. The uncertainty over capital rules has created a "chilling effect" that could put a lid on mergers, while rising interest rates and a looming economic downturn could also damp activity, Adams said. That compares to $3.9 billion in bank deals for non-stressed institutions, the lowest seen over the first half of a year since 2010. "Instead of evaluating mergers based on competition and the needs of the community, political factors have become too important," she said. Regional banks will "have incentives to merge and reach larger scale since they will be subject to more regulatory scrutiny and capital,” Johnson said.

Persons: ”, Timothy Adams, Adams, Michael Barr, “, Meg Tahyar, Davis Polk, Janet Yellen, Tim Johnson, ” Johnson, Tatiana Bautzer, Saeed Azhar, Nupur Anand, Pete Schroeder, Lananh Nguyen, Deepa Babington Organizations: YORK, Institute of International Finance, Global, Federal, Treasury, Dominion Bank, First, KPMG, Thomson Locations: U.S, Canada's Toronto

☆ Telecoms contractor QualTek emerges from bankruptcy
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

July 14 (Reuters) - Telecommunications and power contractor QualTek Services said on Friday that it has emerged from bankruptcy after it reduced its debt by about $307 million through a restructuring deal. QualTek filed for bankruptcy in May this year armed with a restructuring agreement to cut its debt and provide $40 million of new loans to fund its post-bankruptcy operations. The telecom company will operate as a privately-held company under the ownership of its lenders and management. The company will be led by the existing management team alongside a newly-formed board. Reporting by Lavanya Ahire in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: QualTek, Lavanya, Deepa Babington Organizations: Telecommunications, QualTek Services, Federal Reserve, Thomson Locations: U.S, Bengaluru

Disney wants Judge Margaret Schreiber in Orlando to dismiss a lawsuit filed in May by the Central Florida Tourism Oversight District, which controls development around the company's theme parks. The lawsuit seeks to void "backroom deals" favorable to Disney that the district alleges were struck with a prior district board and in violation of state law. Lawmakers also retroactively invalidated agreements that Disney reached with the prior board on the eve of it being brought under DeSantis's control. Such a ruling would allow the company to focus on its federal case, which claims DeSantis violated the company's constitutional right to free speech. "If Disney's contracts are void, nearly all of Disney's claims in the federal case disappear," the district said in a court filing.

Persons: Octavio Jones, Ron DeSantis, Margaret Schreiber, DeSantis, Disney, Lawmakers, Tom Hals, Deepa Babington Organizations: Walt Disney, REUTERS, Walt, Co, Walt Disney Co, Disney, Central, Republican, Improvement, Thomson Locations: Orlando , Florida, U.S, WILMINGTON , Delaware, Florida, Orlando, Central Florida, Wilmington , Delaware

☆ Colombian children who survived five weeks in jungle released from hospital
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, July 14 (Reuters) - Four Colombian Indigenous children who survived a plane crash in the country's Amazon region and lived for more than five weeks in the jungle have been released from hospital after a 34-day stay, the government said on Friday. The children, aged 1 through 13, survived the May 1 crash that killed their mother and two other adults and were found last month. The Indigenous children's knowledge of the jungle, as well as the eldest sister's courage, have been credited by officials with saving their lives. "They have recovered size and weight, really they are very well," Astrid Caceres, the director of the country's child welfare institute, told journalists. Both the father of the two youngest children and their mother's family have told media they want custody.

Persons: Astrid Caceres, Caceres, Carlos Vargas, Julia Symmes Cobb, Deepa Babington Organizations: Thomson Locations: BOGOTA, Colombian

It also wants JPMorgan to pay damages to compensate Epstein's victims, pay punitive damages, separate its business and compliance functions, and hire a compliance consultant. The bank also called the U.S. Virgin Islands' arguments for damages "misdirected" and "not well founded." Friday's filing marks the first time the U.S. Virgin Islands has put a dollar figure on its lawsuit. In the U.S. Virgin Islands case, JPMorgan has sought to shift blame. The case is U.S. Virgin Islands v. JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

Persons: JPMorgan Chase, Jeffrey Epstein's, Epstein, Ariel Smith, Prince Andrew, Ehud Barak, Ghislaine Maxwell, Cecile de Jongh, Jes Staley, Staley, Jonathan Stempel, Nupur Anand, Luc Cohen, Jonathan Oatis, Deepa Babington Organizations: YORK, U.S . Virgin, JPMorgan, Virgin Islands, U.S . Virgin Islands, Deutsche Bank, U.S ., Barclays, Virgin, JPMorgan Chase Bank NA, U.S, Court, Southern District of, Thomson Locations: U.S, Manhattan, U.S . Virgin Islands, British, Southern District, Southern District of New York, New York

☆ Wall St ends up, extends recent gains on cooling US inflation
▼ + stars: | 2023-07-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. Technology-related shares provided the most support to the S&P 500, and an index of tech-focused shares including megacaps (.NYFANG) gained 2.7% and registered a record high close. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 51 new 52-week highs and one new low; the Nasdaq Composite recorded 135 new highs and 39 new lows.

Persons: Mona Mahajan, Edward Jones, Brendan McDermid, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, PPI, . Technology, Dow Jones, Nvidia, New York Stock Exchange, REUTERS, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, U.S, NYSE, Thomson Locations: U.S, Philadelphia, New York City, Toledo , Ohio, Europe, Brazil, Bengaluru, New York

☆ Wall St ends up, extends recent gains after producer prices data
▼ + stars: | 2023-07-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. "PPI is another confirmation this week that inflation continues to trend in the right direction even as we see better overall labor market and consumer data. According to preliminary data, the S&P 500 (.SPX) gained 37.73 points, or 0.84%, to end at 4,509.89 points, while the Nasdaq Composite (.IXIC) gained 219.35 points, or 1.58%, to 14,138.31. Delta Air Lines (DAL.N) shares gained after it lifted its full-year profit outlook following stronger-than-expected second-quarter earnings on a relentless post-pandemic travel boom.

Persons: Mona Mahajan, Edward Jones, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Delta Air Lines, Federal Reserve, PPI, Nasdaq, Dow Jones, Nvidia, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, Thomson Locations: Philadelphia, Toledo , Ohio, Europe, Brazil, Bengaluru, New York

☆ Strike at Canada's Pacific ports ends with tentative, 4-year deal
▼ + stars: | 2023-07-13 | by ( Chris Helgren | ) www.reuters.com time to read: +3 min

[1/5] Union members with the International Longshore and Warehouse Union Canada (ILWU) remove strike signs from a picket line outside the despatch hall in Vancouver, British Columbia, Canada July 13, 2023. REUTERS/Chris HelgrenVANCOUVER, British Columbia, July 13 (Reuters) - Dock workers at ports along Canada's Pacific coast and their employers accepted a tentative wage deal on Thursday, ending a 13-day strike that disrupted trade at the country's busiest ports and risked worsening inflation. "The British Columbia Maritime Employers Association (BCMEA) and International Longshore and Warehouse Union (ILWU) Canada are pleased to advise that the parties have reached a tentative agreement on a new 4-year deal," the BCMEA said in a statement. The union had made demands including wage increases and expansion of their jurisdiction to regular maintenance work on terminals. He offered terms drafted by a federal mediator and gave the union and employers 24 hours to decide if they were satisfied.

Persons: Chris Helgren, of Prince Rupert, Seamus O'Regan, Omar Alghabra, O'Regan, Ismail Shakil, Steve Scherer, Deepa Babington, Alexandra Hudson Organizations: Warehouse Union, REUTERS, British Columbia Maritime Employers Association, Bank of Canada, Labour, Port, Canadian Federation of Independent Business, Canadian Manufacturers, Alexandra Hudson Our, Thomson, & ' $ Locations: Vancouver , British Columbia, Canada, Chris Helgren VANCOUVER, British Columbia, British, Port of Vancouver, of, Vancouver, Ottawa

The U.S. Securities and Exchange Commission (SEC) had accused Ripple Labs and its current and former chief executives of selling unregistered securities when conducting a $1.3 billion offering for XRP, which was created in 2012. Shares in Coinbase, which is also embroiled in litigation with the SEC over its trading of crypto tokens, surged 24.5% on Thursday following the decision, finishing at $107. Coinbase said it would allow trading of the XRP token again on its platform in line with the court ruling. Bitcoin , the world's largest cryptocurrency, was last up 4.1% at 31,584 while Ethereum , the world's second-largest cryptocurrency, rose 6.43% to $1,993.3. Reporting by Chibuike Oguh in New York; editing by Michelle Price and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Coinbase, We've, Analisa, Torres, Paul Grewal, Chibuike Oguh, Michelle Price, Deepa Babington Organizations: YORK, Coinbase Global Inc, Ripple Labs, U.S . Securities, Exchange Commission, SEC, Labs, Inc, Marathon Digital Holdings Inc, Microstrategy Inc, Mining Corp, Twitter, Thomson Locations: U.S, Coinbase, New York

☆ In rare UN appearance, North Korea defends missile launch
▼ + stars: | 2023-07-13 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

[1/3] Hwasong-18 intercontinental ballistic missile is launched from an undisclosed location in North Korea in this image released by North Korea's Korean Central News Agency on July 13, 2023. The 15-member Security Council met after North Korea said it tested on Wednesday its latest Hwasong-18 ICBM, adding the weapon is the core of its nuclear strike force. "We categorically reject and condemn the convening of the Security Council briefing by the United States and its followers," North Korea's U.N. North Korea last spoke at a council meeting on its nuclear and ballistic missile programs in December 2017, diplomats said. North Korea - formally known as the Democratic People's Republic of Korea (DPRK) - has been under U.N. sanctions for its missile and nuclear programs since 2006.

Persons: Kim Song, Jeffrey DeLaurentis, NATO DeLaurentis, Washington, China's U.N, Zhang Jun, Zhang, Michelle Nichols, Mark Porter, Deepa Babington Organizations: North, Korean Central News Agency, KCNA, REUTERS UNITED NATIONS, Security, Democratic People's, U.S, United Nations, NATO, DPRK, Thomson Locations: North Korea, United States, U.N, Korea, Democratic People's Republic of Korea, DPRK, Pyongyang, Russia, China, Britain, France, South Korea, Washington, Beijing, Moscow, emboldening North Korea, CHINA, U.S, NATO, China's

Consumer goods makers say the price hikes are necessary, and that they have taken a hit to margins over the past two years. Some companies such as Clorox (CLX.N) have even begun to ease off the hikes to protect sales volumes as input costs fall. "In the U.S. in particular, these pressures are more acute than in Europe," Janus Henderson portfolio manager Luke Newman told Reuters. U.S. consumer strength has begun weakening, "and that's bad news for the consumer companies," Barclays analyst Iain Simpson said. Still, cost inflation has chipped away at margins, which have broadly fallen 2-4 percentage points over the past two years for the consumer goods industry.

Persons: Janus Henderson, Luke Newman, Newman, Richard Marwood, Robert Klaber, Parnassus, Iain Simpson, Alvarez, Marsal, David Chavern, Stephanie Niven, Niven, Irene Jensen, Jensen, Thomas Joekel, Richa Naidu, Jessica DiNapoli, Matt Scuffham, Deepa Babington Organizations: U.S, Consumer, Reuters, Royal London Asset Management, Investments, Biden, Barclays, Procter, Gamble, Consumer Brands Association, Sustainable Equity Fund, Norges Bank Investment Management, Unilever, Reckitt, Investment, Thomson Locations: Ukraine, U.S, Europe, San Francisco, United States

☆ AI explosion merits regulation to rein in threats, experts say
▼ + stars: | 2023-07-12 | by ( Sheila Dang | ) www.reuters.com time to read: +3 min

We need to do the proper basic maintenance and we need regulation." Regulation is already being prepared in several countries to tackle issues around AI. The European Union's proposed AI Act, for example, would classify AI applications into different risk levels, banning uses considered "unacceptable" and subjecting "high-risk" applications to rigorous assessments. Developing ever-more powerful AI will also risk eliminating jobs to a point where it may be impossible for humans to simply learn new skills and enter other industries. "It seems like the most obvious thing in the world not to put AI into nuclear command and control," he said.

Persons: Michelai Graham, Richard Sonnenblick, Seth Dobrin, Read, Ian Swanson, Dobrin, Anthony Aguirre, –, Sheila Dang, Deepa Babington Organizations: Artificial Intelligence, Protect, Regulators, AI Institute, Life Institute, Thomson Locations: Plainview, Austin, AUSTIN, United States

One unit ran a "hackathon," or collaborative engineering event, of so-called generative AI, technology that produces text, images or other new content based on past data. The division, Verafin, was exploring how to imbue such AI into its product for fighting financial crime, he said, adding the technology could create investigative reports. Still, despite using other forms of AI for years, Nasdaq's latest work remains experimental; no code has been published yet drafted by AI, Peterson said. Nasdaq has accessed a preview of Amazon's answer to the generative AI race, namely Amazon Bedrock, a pick-your-preferred technology approach that includes Claude AI from the startup Anthropic. On the longer-term horizon for Nasdaq is integrating the Thoma Bravo-owned software firm Adenza, subject to closure of the $10.5 billion-deal Nasdaq announced last month.

Persons: AUSTIN, Brad Peterson, Verafin, Peterson, We're, Nasdaq's, OpenAI, Claude AI, Thoma, Jeffrey Dastin, Kenneth Li, Deepa Babington Organizations: Nasdaq, Computer, Amazon Web Services, Microsoft, Thoma Bravo, Thomson Locations: Austin

July 12 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Figures on Tuesday showed surprisingly strong bank lending in June, helped by central bank efforts to support an economy that has struggled to rebound from pandemic restrictions as expected. On a macro level, the U.S. dollar's weakness continues to help fuel the optimism across Asian markets. New Zealand's central bank is expected to keep its cash rate - already at a 14-year high and the highest in the developed world - at 5.50% on Wednesday and leave it there for the rest of the year. But with inflation running well above target, rates markets are leaning toward one more 25 basis point hike by year end.

Persons: Jamie McGeever, Goldman Sachs, Foxconn, Deepa Babington Organizations: Reserve Bank of New, Global, Thomson, Reuters Locations: Asia, U.S, China, Japan, New, Zealand, India

July 11 (Reuters) - Sapphire Ventures plans to invest over $1 billion in AI enterprise startups, doubling down on the technology's adoption by companies across the world, its president Jai Das said at the Reuters MOMENTUM conference in Austin on Tuesday. The $1 billion in capital will come from Sapphire's existing funds, which have $10 billion under management and about $3 billion waiting to the deployed. The majority will be a direct investment in AI startups, while some capital will also go to early-stage AI-focused venture funds through its limited partner fund. Over $40 billion has been invested into AI startups in the past six months, accounting for nearly a quarter of overall startup funding, according to PitchBook data. With headquarters in Austin, Texas, Sapphire has invested in AI-powered enterprise startups including Clari and DataRobot.

Persons: Jai Das, it's, Sapphire, Das, Krystal Hu, David Evans, Deepa Babington Organizations: Sapphire Ventures, Thomson Locations: Austin, Austin , Texas

WASHINGTON, July 10 (Reuters) - A judge on Monday ordered Kansas to stop allowing transgender people to change the gender listed on their driver's licenses after a lawsuit filed by the state's Republican attorney general. Shawnee County District Court Judge Teresa Watson issued the temporary restraining order on Monday. Some states have banned teachers of younger children from discussing gender or sexuality, while conservative lawmakers have also proposed or passed laws restricting drag performances. In June, President Joe Biden warned of "ugly" attacks from "hysterical" people who he said were targeting LGBTQ+ Americans, especially transgender youth. Reporting by Kanishka Singh in Washington, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Laura Kelly, Kris Kobach, Teresa Watson, Kobach, Joe Biden, Kanishka Singh, Deepa Babington Organizations: Republican, Democratic, Kansas Department of Revenue, Defamation League, Thomson Locations: Kansas, Shawnee County, U.S, Washington

[1/8] Delayed travelers wait for air traffic to resume at Ronald Reagan Washington National Airport ahead of the July 4th holiday weekend in Arlington, Virginia, U.S., June 30, 2023. The AAA estimates do not include Thursday, June 29, which the Federal Aviation Administration expects to be the busiest day of air travel during the holiday weekend. United Airlines (UAL.O) bore the brunt of the disruptions, with about 19% of its scheduled flights canceled and about 47% delayed. In a staff memo, he said over 150,000 United customers were affected last weekend because of FAA staffing issues and its impact on managing traffic. Still, the airline has said it would be "on track" to restore operations for the holiday weekend when it expects 5 million people to fly with it.

Persons: Ronald Reagan, Evelyn Hockstein NEW, Pete Buttigieg, Buttigieg, Scott Kirby, Doyinsola Oladipo, Rajesh Kumar Singh, Deepa Babington, Jonathan Oatis Organizations: Ronald Reagan Washington National Airport, REUTERS, AAA, Federal Aviation Administration, U.S . Transportation Security Administration, FAA, U.S ., United Airlines, Twitter, . Transportation, CNN, United, American Airlines, Thomson Locations: Ronald Reagan Washington, Arlington , Virginia, U.S, United States, Washington, U.S . East Coast, Chicago, FlightAware, New York

The AAA estimates do not include Thursday, June 29th, which the Federal Aviation Administration expects to be the busiest day of air travel during the holiday. United Airlines (UAL.O) bore the brunt of the disruptions, with about 19% of its scheduled flights canceled and about 47% delayed. The disruptions have left passengers fuming, with many United customers venting frustration on social media about long lines, delays in rebooking flights and misplaced luggage. In a staff memo, he said over 150,000 United customers were affected last weekend because of FAA staffing issues and its impact on managing traffic. American Airlines (AAL.O) expects nearly three million customers from Friday, June 30, through Tuesday, July 4, across more than 26,000 scheduled flights.

Persons: Pete Buttigieg, Buttigieg, Scott Kirby, Doyinsola Oladipo, Rajesh Kumar Singh, Deepa Babington Organizations: YORK, AAA, Federal Aviation Administration, FAA, Washington D.C, U.S ., United Airlines, Twitter, . Transportation, CNN, United, American Airlines, Thomson Locations: U.S, Washington, U.S . East Coast, Chicago, FlightAware, New York

☆ S&P 500 ends higher, Treasury yields touch three-month high on solid US economic data
▼ + stars: | 2023-06-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. Financials (.SPSY) led the gainers after the Federal Reserve's stress test showed U.S. lenders have adequate capital to weather an economic storm. Treasury yields rose, with 10-year yields touching their highest level since early March after economic reports painted a picture of a solid U.S. economy, promoting the "higher for longer" scenario with respect to restrictive monetary policy. The dollar touched a two-week high against a basket of world currencies as upbeat economic data provided cushion to the Fed to continue raising rates. Oil prices posted modest gains as the solid economic data suggested strong demand and a steeper-than-expected drop in U.S. crude inventories.

Persons: Brendan McDermid, Russell, Michael Green, Joseph Sroka, Brent, Stephen Culp, Marc Jones, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Fed, Dow, Nasdaq, Management, Dow Jones, Reuters Graphics Reuters, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Atlanta, Spain, Asia, Pacific, Japan, London

☆ Ethiopia asks to join BRICS bloc of emerging economies
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Ethiopia, one of Africa's fastest-growing economies, has asked to join the BRICS bloc of emerging markets, the foreign ministry said on Thursday. The term BRIC was coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the rise of Brazil, Russia, India and China. South Africa joined in 2010. Ethiopia will continue to work with international institutions that can protect its interests, he said. BRICS countries account for more than 40% of the world's population and about 26% of the global economy.

Persons: Goldman Sachs, Jim O'Neill, Meles Alem, Vladimir Putin, Hereward Holland, Deepa Babington Organizations: International Monetary Fund, West ., Thomson Locations: Ethiopia, Brazil, Russia, India, China, South Africa, ENA, Africa, Argentina, West, West . South Africa

☆ Jury acquits former Florida deputy of failing to protect students in Parkland school shooting
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +3 min

June 29 (Reuters) - A Florida jury on Thursday acquitted a former sheriff's deputy accused of failing to protect students during the 2018 mass shooting at Parkland's Marjory Stoneman Douglas High School. After the verdict, Peterson told reporters at the courthouse that he would like to talk to the parents of students who lost their lives in the shooting. Peterson was armed but never went inside while the shooting was underway, according to the Broward County Sheriff's Office and surveillance video. A jury in October spared Nikolas Cruz, the gunman in the Parkland shooting, from the death penalty, instead calling for life in prison without possibility of parole. In May, the United States marked the one-year anniversary of the deadliest U.S. school shooting in nearly a decade, in which a gunman in Uvalde, Texas, killed 19 children and two teachers and injured 17 others.

Persons: Parkland's Marjory Stoneman, Scot Peterson, Peterson, Tony Montalto, Gina, Montalto, Nikolas Cruz, Julia Harte, Deepa Babington Organizations: Parkland's, Parkland's Marjory Stoneman Douglas High School, Broward State Attorney’s Office, Broward County Sheriff's Office, Police, Texas Department of Public Safety, Thomson Locations: Florida, Broward County, Parkland, United States, Uvalde , Texas

REUTERS/Evelyn Hockstein/File PhotoWILMINGTON, Delaware, June 29 (Reuters) - A prominent U.S. lawsuit to ban the abortion pill mifepristone has focused on the drug's safety and approval process. Skop and 10 other doctors submitted their testimony when the case began in November. She said she was harmed by the FDA expanding access to the pill because she has treated dozens of women at her hospital's emergency room with mifepristone complications. Erin Hawley, an attorney with the Alliance Defending Freedom legal organization representing the plaintiffs, said abortion sets the case apart. In the abortion pill case, the two initial court rulings found harm to Skop and other doctors was "impending" because the mifepristone label says the treatment may be unsuccessful in up 7% of women.

Persons: Evelyn Hockstein, mifepristone, Ingrid Skop, Roe, Wade, Skop, doesn’t, Leah Litman, Erin Hawley, Hawley, Matthew Kacsmaryk, Samuel Alito's, Danco, Tom Hals, Amy Stevens, Deepa Babington Organizations: Alamo Women's, REUTERS, U.S . Food, Drug Administration, Supreme, FDA, University of Michigan Law School, Alliance Defending, Alliance for Hippocratic, District, Appeals, U.S, Fifth, Amnesty International, Danco Laboratories, Thomson Locations: Carbondale , Illinois, U.S, WILMINGTON , Delaware, Texas, America, Amarillo , Texas, Amarillo, New Orleans, Louisiana, United States, Wilmington , Delaware

WASHINGTON, June 29 (Reuters) - The International Monetary Fund's executive board on Thursday completed its first review of Ukraine's $15.6 billion loan program, allowing Kyiv to immediately withdraw $890 million for budget support as it mounts a major offensive against Russia's invasion. The IMF said Ukrainian authorities have made "strong progress" toward meeting reform commitments under "challenging conditions," meeting quantitative performance criteria through April and structural benchmarks through June. IMF Ukraine mission chief Gavin Gray told reporters the IMF is continuing to study the social, environmental and economic impacts of the destruction of the Kakhovka Dam earlier this month, which caused widespread flooding in southern Ukraine. The IMF expects to carry out its next review of Ukraine's program in late November or early December, the official added. Gray said Ukrainian authorities also needed to continue work on strengthening governance and fighting corruption, with new legislation passed by the end of September.

Persons: Kristalina Georgieva, Georgieva, Gavin Gray, Gray, David Lawder, Andrea Shalal, Leslie Adler, Deepa Babington, Richard Chang Organizations: Monetary Fund's, IMF, Thomson Locations: Kyiv, Ukraine, IMF Ukraine

Banks' commercial real estate portfolios performed better than expected, showing $65 billion in losses or 8.8% of average loan losses, slightly down on last year's 9.8%, the Fed said. "Some may ask how all the banks can get a regulatory thumbs-up when the industry just went through a period of turmoil. The test assesses whether banks would stay above the required minimum 4.5% capital ratio. The average capital ratio for the 23 banks was 10.1%, the Fed said. That compares with 9.7% last year, when the central bank tested 34 lenders against a slightly easier scenario.

Persons: Morgan Stanley, Goldman Sachs, Charles Schwab, Michael Barr, ” Barr, Banks, Barr, Lindsey Johnson, Dennis Kelleher, Ian Katz, Pete Schroeder, Caroline Valetkevich, Deepa Babington, Stephen Coates Organizations: Federal, JPMorgan Chase, Bank of America, Citigroup, Charles Schwab Corp, Deutsche Bank's, Financial Corp, U.S . Bancorp, Valley Bank, Wells, JPMorgan, Industry, Consumer Bankers Association, U.S, Treasury, T Bank, PNC Financial, Citizens Financial, Better, Fed, Capital Alpha Partners, Thomson Locations: Big U.S, Wells Fargo, U.S

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