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TRUMP ELECTION FIGHTFollowing Trump's defeat, Johnson crafted a legal brief, signed by 125 other House Republicans, that sought to persuade the Supreme Court to reject election results from several contested states Trump had lost to Biden. Johnson stuck with those arguments even after the Supreme Court rejected the case. Hours later, Johnson and 138 other House Republicans voted against certifying Biden's victory. Foley said a House speaker could, in theory, refuse to follow the law or even declare themselves acting president. A House speaker also would have the ability to influence proceedings if it had to declare a winner if no candidate won a majority of electoral votes.
Persons: Mike Johnson, Elizabeth Frantz, Donald Trump's, Joe Biden, Chuck Schumer, Trump, Biden, Edward Foley, Johnson, Michael Thorning, Foley, Jan, Andy Sullivan, Andrew Goudesward, Alistair Bell Organizations: U.S . House, U.S, Capitol, REUTERS, Rights, . House, Republican, Democratic, Senate Democratic, Electoral, Senate, Ohio State University . Democratic, Supreme, TRUMP, Republicans, Biden, Trump, Congress, Center, Thomson Locations: Washington , U.S, New, Louisiana, Kentucky
Morgan Stanley CEO shift pleases all, thrills none
  + stars: | 2023-10-26 | by ( John Foley | ) www.reuters.com   time to read: +4 min
People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. So the crushing conventionality of Morgan Stanley’s (MS.N)new chief executive selection, announced late on Wednesday, is almost certainly the point. The handover should be fairly civil, since the two CEO also-rans, wealth chief Andy Saperstein and investment management head Dan Simkowitz, both get promotions too. Andy Saperstein, previously seen as a contender for the CEO spot, will retain his leadership of Morgan Stanley’s wealth management business. He will also take on its investment management division, which manages and supervises $1.4 trillion of funds.
Persons: Morgan Stanley, Brendan McDermid, Morgan Stanley’s, Ted Pick, James Gorman, He’s, Morgan Stanley lifer, Morgan, Elon Musk, Gorman, Andy Saperstein, Dan Simkowitz, Goldman Sachs, David Solomon, culls, Wells, Jamie Dimon, aren’t, Goldman, Pick, Antony Currie, Thomas Shum Organizations: New York City , New York U.S, REUTERS, Reuters, Twitter, JPMorgan, Reuters Graphics Reuters, Wall, Thomson Locations: New York City , New York
It’s challenging enough for an actor to portray someone who is alive and well. But can you imagine the extra scrutiny that comes when your model is sitting in the director’s chair? Or at least, Daniele pointed out in a recent conversation, it’s “a version of me. A better version.”When the two stage veterans sat together last week, a day after performances began at Lincoln Center Theater, they laughed continuously, and threw themselves into the conversation with the full-bodied gusto of born performers. They mimed pranks they once pulled on castmates, hummed tunes from long-forgotten shows, and punctuated their stories with enough sound effects to make a Foley artist jealous.
Persons: ” Priscilla Lopez, Graciela Daniele, Daniele, it’s, Foley Organizations: Lincoln Center Theater Locations: Anuncia
Wall Street’s glum rainmakers deserve more love
  + stars: | 2023-10-26 | by ( John Foley | ) www.reuters.com   time to read: +7 min
Morgan Stanley’s (MS.N) investment banking revenue in the third quarter was its worst since 2009, at just over $1 billion. The rapid rise in interest rates, which makes traditional lending more lucrative for so-called universal banks, adds to the glum aura around investment banking. Reuters Graphics Reuters GraphicsInvestment banking isn’t the biggest part of any bulge-bracket firm’s revenue, but it’s disproportionately profitable. Goldman made nearly $8 billion more from investment banking in 2021 than in the last four quarters. Declining volatility in markets is great for deals, but it’s nowhere near as good for banks’ trading desks, which tend to thrive on choppy conditions.
Persons: Caitlin Ochs, Goldman Sachs, Morgan Stanley’s, Goldman, Morgan Stanley, James Gorman, Jane Fraser, David Solomon, they’re, Peter Thal Larsen, Oliver Taslic Organizations: New York Stock Exchange, REUTERS, Reuters, Exxon Mobil, Chevron, JPMorgan, Citigroup, Reuters Graphics Reuters Graphics Investment, Hamas, Goldman, Bank of America, Barclays, Citi, Thomson Locations: New York City, New York, U.S, catnip, Israel, China
GM earnings give its restive workers an inch
  + stars: | 2023-10-24 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +4 min
On Tuesday, GM reported strong earnings that will embolden staff who have walked out at all three of the big Detroit firms. GM beat analysts’ expectations for third-quarter profit despite a $200 million hit from the strikes that started in September. That said, the firm run by Mary Barra also ditched its official forecast as it wrestles with the $200 million weekly costs from labor disruptions. Fortunately for GM, talks with its union seem to have narrowed in from earlier demands that would have vaporized the industry’s operating profit. Ongoing strikes by the United Auto Workers union, which represents GM employees, cost the company $200 million in the third quarter.
Persons: walkouts, Mary Barra, Shawn Fain, Tesla, Elon, Fain, John Foley, Sharon Lam Organizations: General Motors Company, Reuters, United Auto Workers, General Motors, Ford Motor, GM, Cox Automotive, UAW, Elon Musk’s, United Auto Workers union, Detroit, Thomson Locations: Queens , New York, U.S, Detroit, Wells, GM’s Arlington
Biden announced $3.5 billion for 58 projects across the country to strengthen the electric grid. This is the largest federal investment ever made in grid infrastructure, said US Energy Secretary. Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said. AdvertisementAdvertisementThe largest grant, $464 million, will go to improve five transmission projects across seven Midwestern states, from Iowa to North Dakota.
Persons: Biden, Jennifer Granholm, Granholm, Chip Somodevilla, , Mitch Landrieu, Joe Biden, Landrieu, Jonathan Foley, Foley, Tim Walz, Steve Karnowski Organizations: US Energy, Service, Wednesday, Energy, Biden, Resilience, White House, Minnesota Gov, AP, of Commerce, CPS Energy, Consumers Energy, Flint, DTE Energy, Portland General Electric Locations: Maui, California, Georgia, Louisiana, American, Oregon, Iowa, North Dakota, Hawaii, California , Oregon , Utah, Minnesota, Locust Grove, Orleans, San Antonio, Texas , Colorado , New Mexico, Wisconsin, Texas, Michigan, Grand Rapids, Detroit
P&G price hikes have no-tears effect on US wallets
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +2 min
Pampers, a brand owned by Procter & Gamble, is seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsWashington/NEW YORK, Oct 18 (Reuters Breakingviews) - If Americans are fed up with inflation, their checking accounts aren’t showing it. Procter & Gamble (PG.N) topped earnings expectations on Wednesday after raising prices 7% year-over-year in the third quarter. Imagine all producers of such goods raised prices by 7% in the past year, as P&G did. P&G credits innovation, and if it can squeeze where others can’t, it may even be able to raise prices more.
Persons: Andrew Kelly, Forrester, Ben Winck, John Foley, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Procter & Gamble, REUTERS, Washington, Reuters, of America, PepsiCo, X, News Corp, Thomson Locations: Manhattan , New York City, U.S
WASHINGTON (AP) — The Biden administration on Wednesday announced $3.5 billion for 58 projects across the country to strengthen electric grid resilience as extreme weather events such as the deadly Maui and California wildfires continue to strain the nation’s aging transmission systems. Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said. Political Cartoons View All 1211 ImagesThe largest grant, $464 million, will go to improve five transmission projects across seven Midwestern states, from Iowa to North Dakota. In southeastern Pennsylvania, PECO Energy Co. will increase grid reliability and resilience through substation flood mitigation and replacing aging infrastructure.
Persons: , Biden, Jennifer Granholm, Granholm, , Mitch Landrieu, Joe Biden, ” Landrieu, , Jonathan Foley, ” Foley, Isabella O'Malley Organizations: WASHINGTON, Wednesday, Energy, Biden, Resilience, White House, Entergy, CPS Energy, DTE Energy, PECO Energy, Portland General Electric, Associated Press Locations: Maui, California, Georgia, Louisiana, American, Oregon, Iowa, North Dakota, Hawaii, California , Oregon , Utah, San Francisco, Locust Grove , Georgia, Orleans, San Antonio, Minnesota, Texas , Colorado , New Mexico, Wisconsin, Texas, Michigan, Detroit, Pennsylvania, New York
David Solomon’s Goldman remix is audibly off-key
  + stars: | 2023-10-17 | by ( John Foley | ) www.reuters.com   time to read: +4 min
NEW YORK, Oct 17 (Reuters Breakingviews) - Having given up a side-gig in DJ-ing, Goldman Sachs (GS.N) boss David Solomon has one less distraction. Goldman reported a one-third year-on-year drop in earnings on Tuesday, in a quarter riddled with one-off charges. Those included a hit related to buy-now-pay-later lender GreenSky, which Goldman bought only two years ago, and is selling. Absent all that, Goldman would have made a return on equity of just over 10%. Goldman made a 7.1% return on equity in the quarter, on an annualized basis, which would have been 10.2% without one-off charges.
Persons: Goldman Sachs, David Solomon, Goldman, GreenSky, Morgan Stanley, Solomon, Marc Nachmann, Nachmann, Jonathan Guilford, Sharon Lam Organizations: Reuters, JPMorgan, Thomson Locations: tomorrow’s, Basel, GreenSky
The bulk of the Trump PAC money went to law firms that have defended Trump against a series of criminal charges or in civil lawsuits. “Well, if the little fish’s lawyer is being paid by the big fish that’s less likely to happen potentially.”The Trump campaign did not respond to a request for comment. That money is earmarked for political and campaign activities, not for legal expenses, according to the campaign. To help pay the legal fees, Trump’s political operation has also moved millions from his super PAC, MAGA Inc. Those concerns are amplified in court records filed by Smith’s team in the Mar-a-Lago case.
Persons: — Donald Trump’s, Trump, , Randall Eliason, he’s, Letitia James ’, James, schemed, , it’s, Anthony Michael Kreis, Donald Trump, Robert Lee, wasn’t Trump, Lee, Alina Habba, Christopher Kise, James ’, Habba Madaio, Habba, Jean Carroll, Mary Trump, Kise, Foley, Lardner, Chris Kise, Ron DeSantis, Sen, Rick Scott, Coleman, Ciara Torres, Jack Smith, ” Torres, Spelliscy, Joe Biden, Saurav Ghosh, don’t, ” Ghosh, Donald J, Smith, Carlos De Oliveira, De Oliveira, He’s, Walt Nauta, John Irving of, Brand, Stanley Woodward, Woodward, Mark Meadows, Dawn Smelcer, ” he’s, Eric Tucker, Jill Colvin Organizations: WASHINGTON, Commission, Associated, Save, Republican National Committee, Democratic National Committee, National Republican Senatorial, Trump PAC, Trump, White, George Washington University Law School, MAGA Inc, Georgia State University, Associates, Save America, New York Times, PAC, Republican, Florida Gov, Continental, Stetson University College of Law, Justice Department, Justice, Republicans, Democrats, GOP, Democratic, Legal, Smith’s, FBI, John Irving of Earth & Water Law, Brand Woodward Law, Prosecutors, AP, Associated Press Locations: New York, Georgia, Fulton, Lago, Florida, Boca Raton , Florida, Washington ,, Bedminster , New Jersey, York, West Palm Beach , Florida, Save America, Fayetteville , North Carolina, Washington
Jamie Dimon makes anxiety a feature not a bug
  + stars: | 2023-10-13 | by ( John Foley | ) www.reuters.com   time to read: +4 min
The mega-bank Jamie Dimon runs is performing strongly, and yet he openly frets and rants about what’s coming: higher interest rates, smothering regulation, recession, war. Lest nerves be soothed by those trends, Dimon lays on caveats with a trowel. Dimon can afford to dwell on the negative because JPMorgan is strong and liquid. If calamity strikes, JPMorgan’s high returns, high capital levels and sheer size make it akin to a safe haven. It also slightly reduced its forecast of expenses and credit-card write-offs from numbers given with second-quarter earnings.
Persons: Jamie Dimon, Marco Bello, delinquencies, Wells, Dimon, Peers, Jane Fraser, hasn’t, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: JPMorgan Chase &, Chase, Business The, Miami, REUTERS, Reuters, JPMorgan, Citigroup, Basel, Citi, Reuters Graphics, Thomson Locations: East, Ukraine
Covid exits corporate earnings with a bump
  + stars: | 2023-10-12 | by ( ) www.reuters.com   time to read: +2 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Revenue at the pizza delivery company was down about 4% from the same period last year, as restaurants in the U.S. sold less. Walgreens, meanwhile, lost $180 million in the quarter, while citing significantly lower revenue from Covid tests and vaccines. Meanwhile, Delta delivered record revenue for the quarter, with 30% earnings growth year-on-year, and is quickly repaying debt it took on during the chaos of 2020. While there’s no room for complacency about future shocks, third-quarter earnings might provide a bookend to a strange, turbulent time.
Persons: Brendan McDermid, Delta, Robert Cyran, John Foley, Sharon Lam, Aditya Sriwatsav Organizations: New York Stock Exchange, REUTERS, Reuters, Walgreens Boots Alliance, Delta Air Lines, Revenue, Walgreens, Air, X, Ericsson, Qantas, Thomson Locations: New York City, U.S, Domino’s
Wall Street prepares to dish economic dirt on US
  + stars: | 2023-10-12 | by ( John Foley | ) www.reuters.com   time to read: +7 min
They are also among the handful of banks which can buy Treasury debt straight from the central bank. That puts leaders like JPMorgan chief Jamie Dimon at the center of the global financial spiderweb. To be sure, the financial statements that the banks will start to release on Friday will be backward-looking. Interest income will reflect the sharp and continued rise of central bank rates, which drag up the price banks must pay for customer deposits and what they charge for loans. It’s a big economic question, since plastic-related debt in the United States hit a record $1 trillion in August.
Persons: Jamie Dimon, Marco Bello, Brian Moynihan’s, Jane Fraser, Wells Fargo, Dimon, Dean Athanasia, Banks, Wells, Peter Thal Larsen, Sharon Lam Organizations: JPMorgan Chase &, Reuters, REUTERS, JPMorgan, Bank of America, Citigroup, of America, Treasury, Citi, Fraser, Reuters Graphics Reuters, Federal Reserve, Federal, Bank of, Reuters Graphics Reuters Graphics Bank, Alpha, Thomson Locations: Miami , Florida, U.S, Wells Fargo, Wells, United States
There are rescue operations, typically by special operations forces. US special operations forces are offering their expertise and support to Israel, but are not part of a ground mission to rescue hostages. In 2010, the Taliban kidnapped British aid worker Linda Norgrove, and US Navy SEAL Team Six launched a rescue operation. Subsequent investigations revealed that Norgrove was killed by a fragmentation grenade thrown by a SEAL team member during the operation. In 2014, during a SEAL Team Six rescue operation in Yemen, American journalist Luke Somers was killed by his al Qaeda captors.
Persons: Peter Bergen, , James W, Foley, Gilad Shalit, Linda Norgrove, Norgrove, Luke Somers Organizations: New, Arizona State University, Apple, Spotify, CNN, Peter Bergen CNN Hamas, ISIS, US, US Navy, Team, Six Locations: New America, Gaza, Qatar, Iran, Qatari, Israel, Syria, Yemen, American
LAS VEGAS (AP) — The Golden Knights raised their Stanley Cup championship banner in the most Las Vegas way possible. Captain Mark Stone placed the Stanley Cup next to an oversized slot machine on the ice Tuesday night before the season opener against the Seattle Kraken and pulled the lever. Vegas’ championship banner resides next to one that memorializes the victims of the Route 91 Harvest festival shooting with 60 stars representing each victim who died from that tragedy. But Vegas was competitive from the beginning, making the Stanley Cup Final in its first season before losing to Washington in five games, the Capitals celebrating on the Knights' ice after the clincher. When given another shot at the Cup, the Knights didn't let the opportunity go to waste.
Persons: Mark Stone, Gary Bettman, Al Davis, Engelland, Bill Foley's, Knights didn't, Reilly Smith, ___ Organizations: LAS VEGAS, Knights, Stanley, Seattle, Mobile, NHL, Las Vegas, Las Vegas Raiders, Green Bay Packers, Vegas, Washington, Capitals, Florida Panthers, Pittsburgh Penguins Locations: Vegas, Las
Saudi oil giant Aramco on Monday announced a partnership with Siemens Energy AG to develop a small-scale direct air-capture "test unit" in an attempt to manage emissions. The test unit will be built in Dhahran, Saudi Arabia and finished in 2024, according to a statement from Aramco on Monday. The DAC collaboration between Aramco and Siemens Energy is still in early phases. Given DAC's adolescence, both oil companies are invested in other clean energy technology projects. The spokesperson for Siemens Energy said that the company has invested in hydrogen, wind, nuclear fusion and others.
Persons: Jonathan Foley, Foley, Cara Horowitz Organizations: Saudi Aramco, Monday, Siemens Energy AG, Aramco, International Energy Agency, Amazon, Frontier, UCLA's, DAC, Siemens Energy, CNBC Locations: Saudi, Aramco, Dhahran, Saudi Arabia
UAW strike enters fourth week: Where things stand
  + stars: | 2023-10-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAW strike enters fourth week: Where things standTom Narayan, European autos and commercial truck analyst at RBC Capital Markets, and Ann Marie Uetz, partner and trial attorney with Foley, join 'Power Lunch' to discuss the latest with the UAW strike and where it's headed.
Persons: Tom Narayan, Ann Marie Uetz, Foley Organizations: UAW, RBC Capital Markets
Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. Adam Cole, the chief currency strategist at RBC, says he is biased toward a stronger dollar but admits the prevailing foreign exchange view in markets remains a tough nut to crack. "If you look at consensus forecasts, the consensus has been dollar negative for five years now and it hasn't worked," Cole said. One notable outlier among major central banks is the Bank of Japan, which has made the yen one of the worst-performing major currencies this year, down over 13%. (For other stories from the October Reuters foreign exchange poll:)Reporting by Hari Kishan; Polling by Prerana Bhat, Purujit Arun, Pranoy Menon and Anant Chandak; Editing by Ross Finley and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
Persons: Rick Wilking, Adam Cole, hasn't, Cole, Jane Foley, Rabobank's Foley, Hari Kishan, Prerana Bhat, Purujit Arun, Pranoy Menon, Anant Chandak, Ross Finley, Paul Simao Organizations: REUTERS, Rights, greenback, Treasury, RBC, U.S, Futures, Bank of Japan, Rabobank, Reuters, Central Bank, Thomson Locations: Westminster , Colorado, U.S
Others say that direct air capture is a necessary part of a diverse effort to limit global warming. Carbon removal companies such as Climeworks create carbon credits corresponding to units of carbon dioxide captured by their plants — these credits can be purchased by companies to offset their carbon emissions. Some say investing in direct air capture technology is pointless. "If it's being used for direct air capture, it's not being used for something else. Many global climate leaders agree.
Persons: Bilha Ndirangu, watchdogs, Ugbaad Kosar, that's, Jonathan Foley, Ndirangu, Carlijn Nouwen, Nouwen, Olúfẹ́mi, Táíwò, That's, Mark Jacobson, it's, Julie Gosalvez, Climeworks, Gosalvez Organizations: Deutsches Museum, United Nations, Africa Climate Summit, Georgetown University, Stanford University Locations: Munich, Kenya, Swiss, Climeworks, Carbon, Africa, Nairobi, Saharan Africa, Tanzania, Ethiopia
U.S. dollar bills, British GDP and Euro currency bank notes are pictured on September 27, 2022 in Bath, England. Matt Cardy | Getty Images News | Getty ImagesLONDON — The British pound suffered its worst month against the U.S. dollar for a year in September, and strategists show little optimism for the rest of the year, as growth expectations weaken once again. Sterling fell 3.75% against the dollar through the month, logging a decline not seen since the end of last summer. The pound also slid 1.26% against the euro last month, notching its weakest performance since December 2022. Exchange rates have been impacted over the past two years by interest rate expectations, with higher rates generally making a currency more attractive for foreign investment.
Persons: Matt Cardy, Sterling, Liz Truss, Jane Foley, Foley, Jim McCormick, CNBC's Organizations: Getty, U.S, Bank of England, U.S ., Rabobank, CNBC, European Central Bank, of England, Citi, Federal Reserve, ECB, Organization for Economic Co, Development Locations: Bath, England, U.S, Germany
ORLANDO, Florida, Sept 28 (Reuters) - The 'dollar smile' can be a blessing for Wall Street, or a curse. But the speed and extent of the move in the dollar and Treasuries, and tightening of financial conditions, warrant vigilance. According to Goldman Sachs, U.S. financial conditions are the tightest this year. This is not dissimilar to other major economies and regions, some of which - the euro zone, China and emerging markets - are feeling an even tighter squeeze. It might be too early for that to appear in third-quarter results - many big Wall Street firms will have hedged their currency exposure over the near term - but if sustained, fourth-quarter profits could be affected.
Persons: Stephen Jen, reckons Stuart Kaiser, Kaiser, Goldman Sachs, Rabobank's Jane Foley, Foley, Jamie McGeever, Andrea Ricci Organizations: Treasury, Citi, FCI, Reuters, Thomson Locations: ORLANDO, Florida, China, U.S, America
MLB roundup: Brewers clinch NL Central despite loss to Cards
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: +10 min
Brewers starter Adrian Houser (7-5) allowed four runs on three hits in five innings, striking out five and walking two. Aaron Nola pitched 6 2/3 innings and allowed four hits and one run with eight strikeouts and no walks. Red Sox starter Tanner Houck (5-10) allowed seven runs (six earned) on 10 hits over three innings. White Sox starter Jose Urena (0-7) allowed seven runs (four earned) and four hits in four innings. Los Angeles starter Bobby Miller (11-4) allowed two runs on seven hits and no walks while striking out nine in seven innings.
Persons: Miles Mikolas, Michael McLoone, Drew VerHagen, Ryan Helsley, Adrian Houser, Carlos Santana, Johan Rojas, Rojas, Brandon Marsh, Aaron Nola, Jeff Hoffman, Henry Davis, Bryan Reynolds, Mitch Keller, Matt Wallner, Alex Kirilloff, Donovan Solano, Christian Vazquez, Seth Brown, Connie Mack, Nolan Jones, Brendan Rodgers, Chase Anderson, Tyler Kinley, Jason Heyward, Caleb Ferguson, Elly De La Cruz, De La Cruz, Christian Encarnacion, Strand, TJ Friedl, Spencer Steer, Cleveland's Bo Naylor, Kole Calhoun, Andres Gimenez, Gunnar Henderson, Kyle Bradish, Yennier Cano, Josiah Gray, Keibert Ruiz, Luis Garcia, Akil Baddoo, Parker Meadows, Spencer Torkelson, Jason Foley, Salvador Perez, Nick Pratto, Nick Loftin, Zack Greinke, Austin Wells, Clay Holmes, Jordan Romano, Kevin Gausman, Manuel Margot, Rene Pinto, Zach Eflin, Enmanuel Valdez, Harold Ramirez's, Jonathan Aranda, Valdez, Tanner Houck, Seiya Suzuki, Sean Murphy, Suzuki, Matt Olson, Drew Smyly, Brad Hand, Raisel Iglesias, Christian Walker, Ketel Marte, Marte, Eloy Jimenez, Andrew Benintendi, Andrew Vaughn, White, Jose Urena, Freddie Freeman, James Outman, Max Muncy, Enrique Hernandez, Bobby Miller, Elehuris Montero, Charlie Blackmon, Ryan Feltner, Brandon Drury, Reid Detmers, Michael Stefanic, Eduardo Escobar, Corey Seager, Bruce Bochy, George Kirby, Ty France, Cal, Cristian Javier, Juan Soto, Seth Lugo, Lugo, Josh Hader, Wilmer Flores, John Brebbia, Soto's, Soto, Ryan Walker Organizations: Louis Cardinals, Milwaukee Brewers, Milwaukee, Brewers, National League Central, Chicago Cubs, Atlanta, Cards, Phillies, Pirates, Philadelphia, Pittsburgh, Athletics, Minnesota, Oakland, American League Central Division, Twins, Philadelphia Athletics, Rockies, Dodgers, Colorado, Los Angeles, Reds, Cincinnati, Orioles, Baltimore, AL East, Nationals, Washington, Tigers, Royals, Detroit, Kansas, Royals . Kansas City, Yankees, Blue Jays, New York, Toronto, Rays, Red Sox, Tampa Bay, Boston, The Rays, Boston . Red Sox, Braves, Cubs, Chicago, NL, Miami Marlins, New York Mets, Diamondbacks, White Sox, Arizona, Angeles, Los, The Dodgers, Rangers, Detmers, Mariners, Astros, Seattle, Houston, Kirby, Padres, Giants, Thomson Locations: Milwaukee , Wisconsin, USA, Milwaukee, Minneapolis, Oakland, Los, Denver, Cleveland, Washington, Chicago . Arizona, Colorado, Los Angeles, Angeles, Texas, Anaheim , Calif, Houston, Cal Raleigh, France, Diego, San Francisco
The U.S. consumer agency, which enforces federal antitrust law, and 17 states filed their lawsuit against Amazon in Seattle federal court on Tuesday, asking a U.S. judge to consider an injunction and other penalties to combat alleged unlawful conduct. The FTC's lawsuit is related to but broader than a series of private consumer cases filed in recent years against Amazon that are pending in the same U.S. federal court. The private antitrust cases offer an early window into some of the legal arguments Amazon could be expected to make to challenge the FTC's lawsuit. Generally speaking, U.S. judges are "wary of using antitrust law to punish low-pricing behavior," said antitrust scholar Sean Sullivan of the University of Iowa's law school. Sullivan said it is not always a clear line between "good low pricing" — based on market competition — and "bad low pricing" that helps a company acquire or maintain market power.
Persons: Mike Segar, David Balto, Diane Hazel, Foley, Lardner, Hazel, Tom Cotter, David Zapolsky, Zapolsky, Lina Khan, Ricardo Martinez, Martinez, George W, Bush, Sean Sullivan, Sullivan, Mike Scarcella, Leigh Jones Organizations: REUTERS, U.S . Federal Trade, Amazon.com, Amazon, Reuters, FTC, U.S, University of Minnesota Law School, District, University of, Thomson Locations: Manhattan, New York City, U.S, Seattle, Washington, Mt, Rainier
Dollar at 10-month top as US yields spike; yen slides
  + stars: | 2023-09-26 | by ( Tom Westbrook | ) www.reuters.com   time to read: +3 min
U.S. Dollar banknote is seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSINGAPORE, Sept 26 (Reuters) - The dollar stood by 10-month highs against a basket of major currencies on Tuesday, supported by U.S. bond yields scaling 16-year peaks, while the yen tiptoed deeper into the intervention danger zone. "Few currencies will resist the bullish dollar macro resiliency theme and the euro and Chinese yuan look more vulnerable than most." The yen has slowly but inexorably slid toward the 150-per-dollar mark as policymakers stuck with ultra-easy settings. The yen hit 148.97 to the dollar on Monday and last traded at 148.72.
Persons: Dado Ruvic, Sterling, Jane Foley, Tom Westbrook, Jamie Freed Organizations: REUTERS, Rights, Treasury, U.S, Australia's Westpac, Swiss, Traders, Bank of Japan, Thomson Locations: Rights SINGAPORE, Europe, Asia, U.S, Tokyo
Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company and will be replaced by longtime Silicon Valley veteran Nick Caldwell, the company announced Tuesday. Cortese, who helped found the connected fitness company alongside former CEO John Foley in 2012, will move into an advisory role beginning Nov. 1, the company said. He'll oversee global product development and will start the new role Nov. 1. "I want to thank Tom for his tireless dedication since launching Peloton nearly 12 years ago as a Co-Founder of the business. "Nick brings impressive engineering, design, and product experience to the Peloton team.
Persons: Tom Cortese, Nick Caldwell, Cortese, John Foley, " Cortese, I'm, Caldwell, He'll, Tom, Barry McCarthy, Nick Organizations: Silicon, Twitter, Google, Microsoft
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