Category: Case
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Attorneys push for no prison time for Caroline Ellison in FTX fraud case
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Caroline Ellison’s lawyers are asking for her to be released from prison and given supervised release, citing her cooperation in the FTX case. Caroline Ellison, the former CEO of Alameda Research, is seeking time served and probation instead of prison as her sentencing date approaches on Sept. 24. Submit a…
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Factbox-Nippon Steel rebuts CFIUS’s case against its bid for US Steel-letter By Reuters
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WASHINGTON (Reuters) – Nippon Steel Co. defended its $14.9 billion bid for U.S. Steel Inc., saying it would boost the U.S. steel industry and that politics were driving U.S. opposition to the deal, according to a strongly worded letter first reported by Reuters. Here is a summary of some of…
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Stocks Drop as Jobs Data Adds to Case for Fed Cuts: Markets Wrap
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(Bloomberg) — Asian stocks fell Monday after U.S. jobs data added to concerns that the Federal Reserve may have waited too long to cut interest rates. Most Read from Bloomberg Stocks in Australia, Japan and South Korea posted losses in early trade, while U.S. futures were little changed. The dollar…
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Google search monopoly US case remedies to come by December By Reuters
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Written by Judy Godoy The U.S. Justice Department plans to issue a blueprint by December on what Alphabet Inc’s Google must do to restore competition after a judge earlier found the company had an illegal monopoly on the online search market, prosecutors said at a court hearing in Washington on…
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New Mexico AG files case against Snap alleging platform enables child exploitation (SNAP)
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The office of New Mexico Attorney General Raul Torres said Thursday it has filed a lawsuit against Snapchat (NYSE:SNAP) alleging that the social media company’s policies, content, and recommendation algorithm promote the sharing of child sexual abuse material and facilitate child abuse. Sexual exploitation. “Our undercover investigation revealed that malicious…
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Kroger case tests FTC Chair Khan’s bid to protect workers By Reuters
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Written by Judy Godoy (Reuters) – Federal Trade Commission Chair Lina Khan’s push to use antitrust laws to protect workers is being tested in a trial that began on Monday as the agency alleges that grocery chain Kroger Inc’s proposed merger with rival Albertsons Inc would crush the bargaining power…
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Elliott lays out its case for leadership change at Southwest Airlines By Reuters
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By Svea Herbst Bayliss NEW YORK (Reuters) – Elliott Investment Management, which now owns about 9.7 percent of Southwest Airlines Co (NYSE: )’s voting power, told investors the company needs new outside leadership for a “better future” but is also prepared to move forward with a planned proxy battle. In…
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Apple announces iPhone event for September 9. Here’s the bull case from Dan Loeb
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Why the US dollar continues to weaken and the case for more selling from here
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The US dollar fell to new lows on the day across the board (but not yet against the pound). The market continues to digest Powell’s comments, and the front end of the yield curve remains the place where the strongest buying is taking place. The 2-year Treasury note fell 9…
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Greenpeace files supreme court case accusing Finland of climate inaction
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A group of environmental and human rights organizations said Thursday they are suing the Finnish government for violating the country’s climate legislation by not taking enough action to meet climate targets. In a statement, the six organizations noted that in 2022, Finland adopted “one of the strongest net-zero climate targets…
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Analysts reveal bullish case for Bitcoin as global liquidity rises
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Many macroeconomic analysts claim that the stage appears set for Bitcoin to surpass its previous all-time high, thanks to increased global liquidity. In recent weeks, the global macroeconomic outlook has shown signs of shifting. Over the weekend, Goldman Sachs economists announced that they Reduced They lowered their estimate of the…
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Analysts reveal bullish case for Bitcoin as global liquidity rises
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Many macroeconomic analysts claim that the stage appears set for Bitcoin to surpass its previous all-time high, thanks to increased global liquidity. In recent weeks, the global macroeconomic outlook has shown signs of shifting. Over the weekend, Goldman Sachs economists announced that they Reduced They lowered their estimate of the…
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GSK to seek dismissal of Florida case against heartburn drug Zantac By Reuters
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(Reuters) – British drugmaker GSK said on Friday it will seek to dismiss an upcoming Zantac lawsuit in Florida where plaintiffs alleged the company’s discontinued heartburn drug caused prostate cancer. The move follows a Florida court ruling Thursday in favor of GlaxoSmithKline and other defendants that threw out expert testimony…
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Exclusive-Deutsche Bank’s proposed Postbank case settlement offer rejected by plaintiffs By Reuters
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By Tom Sims FRANKFURT (Reuters) – Deutsche Bank has made a settlement offer to shareholders suing Germany’s largest lender over unpaid fees for its acquisition of Postbank, the plaintiffs’ lawyer said on Friday. Lawyer Jan Bayer (OTC:) dismissed the bank’s offer as “crazy” and “dead from the moment it arrived.”…
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Abbott Labs falls after jury awards plaintiff $495M in damages in baby formula case
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LPETT Update at 8:10 PM: Damage update, adds Abbott’s comment. Abbott Laboratories (New York:ABT) decreased by 5% In after-hours trading after a St. Louis jury awarded a plaintiff $495 million in damages and penalties over allegations that the company’s infant formula caused A potentially fatal bowel disease. Margo Gill, an…
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U.S. court rules against Booking.com in Ryanair screen-scraping case By Reuters
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DUBLIN (Reuters) – A U.S. court has ruled that Booking.com violated the Computer Fraud and Abuse Act by accessing part of Ryanair’s website without permission, court documents showed. The Irish airline, Europe’s largest by passenger numbers, said the ruling would help end unauthorised manipulation of passenger data by booking sites.…
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Co-founder of Bitzlato avoids extra jail time in $700m money laundering case
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The Russian founder of Bitzlato has been sentenced to a fixed term in prison for facilitating more than $700 million in illegal crypto transactions. Anatoly Legkodimov, a Russian co-founder of Hong Kong-based cryptocurrency exchange Bitzlato that processed more than $700 million in illicit cryptocurrency on the dark web, has been…
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Goldman Scahs makes the case for a July Fed cut. What’s priced in?
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The Fed’s blackout begins Friday at midnight and there’s little chance of a rate surprise unless officials announce it first. The main chance to do so today comes with Powell’s appearance at 12:30 p.m. ET at the Economic Club of Washington. Other than that, we’ll hear from a handful of…
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The case against a rate cut this year
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Despite recent improvements in inflation and economic indicators, analysts at Yardeni Research argue against a Fed rate cut this year. May personal consumption expenditures data suggest inflation is on track to hit the Fed’s 2.0% target by year-end. Moreover, consumer spending remains strong, in line with the positive economic outlook.…
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Bribery case against Shikun & Binui closed, subsidiaries penalized
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The Tax and Economic Prosecutor’s Office has closed a bribery case against Shikun & Binui (TASE: SKBN), a real estate and infrastructure developer. Meanwhile, an indictment was filed today against Shikun & Binui’s subsidiary SBI Infrastructure, as part of a plea deal, charging the company with conspiracy to commit a…