Business

U.S. charges two financiers with money laundering in PDVSA bribery scheme

Two asset managers from Switzerland and Argentina have been charged in an alleged $1.2 billion Venezuelan money laundering scheme, the U.S. Justice Department said on Tuesday. An indictment alleges that the asset managers, Ralph Steinmann, 48, of Switzerland and Luis Fernando Vuteff, 51, of Argentina, from 2014 to 2018 laundered proceeds from an illegal bribery […]

Business

U.S. CPI preview: Past the headline, into the core

U.S. June consumer prices data due early on Wednesday has market participants’ undivided attention, standing as the last potentially market-moving catalyst before second-quarter earnings season hits full stride. Economists poll expect the Labor Department’s Consumer Price Index (CPI), which tracks the prices that urban consumers spend on a basket of goods, to have accelerated in […]

Business

U.S. appeals court revives Roundup weedkiller cancer lawsuit

A federal appeals court on Tuesday revived a lawsuit by a Georgia man claiming Bayer AG’s (BAYGn.DE) Roundup weedkiller caused his cancer, the latest in a string of legal defeats for the company as it seeks to avoid potentially billions of dollars in damages. The 11th U.S. Circuit Court of Appeals in Montgomery, Alabama, rejected […]

Business

U.S. auto agency will not allow EV owners to pick alert sounds

U.S. auto safety regulators on Tuesday scrapped a 2019 proposal that would have allowed automakers to offer a variety of sound choices for electric vehicles and other “quiet cars.” Electric vehicles are often harder to hear at lower speeds than gasoline-powered engines. Under rules mandated by Congress and finalized by NHTSA, automakers must add sounds […]

Business

Boeing deliveries reach highest monthly level since March 2019

Boeing Co delivered 51 airplanes in June to bring its first-half tally to 216 jets, up 38% from the same period last year, pushing its shares sharply higher on Tuesday. June’s deliveries exceeded the 50 threshold for the first time since March 2019 and included 43 Boeing 737 MAX, which is recovering from a nearly […]

Business

Fed’s Barkin says ‘definitely’ sees signs economy is softening

The U.S. economy is slowing as consumers are buffeted by inflation and pandemic-driven demand for goods returns to more normal levels, Richmond Federal Reserve president Thomas Barkin said on Tuesday. “I definitely see signs of softening,” Barkin said, with the evidence “most pronounced in lower income households” and in parts of the economy that saw […]