New York Financial News

Manhattan District Attorney Alvin Bragg says he and other city officials have begun cracking down on illegal cannabis shops

Americans increased their spending last month as inflation eased in many areas, and the job market remained remarkably strong

James Patterson, Suzanne Collins and Margaret Atwood are among thousands of writers endorsing an open letter from the Authors Guild urging AI companies to obtain permission before incorporating copyrighted work into their technologies

Wall Street’s frenzy around artificial intelligence helped pushed stocks to their best level in more than 15 months

The Dutch bicycle maker VanMoof, which won design awards for its stylish electric bikes, has been declared bankrupt

Solidarity and stamina are themes on picket lines in New York and Los Angeles as striking actors and writers are bracing for a long standoff with studios

Stocks that traded heavily or had substantial price changes on Tuesday: Bank of America, Novartis rise; Masimo falls

Charles Schwab Corp.’s shares advanced after executives suggested the worst is over for the brokerage following an exodus of bank deposits amid the worst U.S. financial crisis since 2008.

Investing.com — Gold bulls were jolted from their reverie Tuesday, sending the yellow metal into an upswing mode for the first time in nearly a week and to 7-week highs after the European and Canadian central banks signaled hard-fought wins against inflation.

By Saeed Azhar and Lananh Nguyen

Investing.com — The longs in crude might not be killing it but the “vol-players” certainly are.

Medecins Sans Frontieres (MSF) has once again urged Johnson & Johnson (J&J) to not enforce any 'secondary' patents for its tuberculosis drug bedaquiline in any country with a high burden of TB, and withdraw all pending secondary patent applications for it. The US pharmaceutical giant's 20-year primary patent on drug-resistant TB medicine bedaquiline expires in a majority of countries this month, including India. Paris-founded MSF has also called for a commitment from J&J to not take any legal action against any generic drug manufacturer that exports versions of bedaquiline to or from TB high-burden countries where secondary patents on the drug exist.

New York Rep. Ritchie Torres has called on United States Securities and Exchange Commission (SEC) Chair Gary Gensler to reconsider the regulator’s position on crypto following a “dreadful day in court."

By Lucia Mutikani

WASHINGTON (Reuters) -Big U.S. banks on Tuesday said higher interest rates had helped boost profits in the second quarter, causing shares to spike, but a pullback in consumer spending, slower loan growth and increased deposit costs may cloud the outlook for the sector.

Azure Power India is in talks with their onshore lenders to modify the terms of the ₹1,680-crore loans, which gives banks the right to increase the pricing on the rupee loan or even recall the debt facilities if the rating is downgraded from the current level, said a research report. Last week, Crisil Ratings downgraded the loan facility of Azure Power India to BBB+, citing a delay in releasing audited results for the financial year ending March 2022.

Donald Trump shared on social media that he has been informed by special counsel Jack Smith that he is under investigation regarding the attempts to overturn the 2020 election. This indicates a possibility that he may face charges from the special counsel. In a post on Truth Social, Trump stated, «Deranged Jack Smith, the prosecutor with Joe Biden's DOJ, sent a letter (again, it was Sunday night!) stating that I am a TARGET of the January 6th Grand Jury investigation, and giving me a very short 4 days to report to the Grand Jury, which almost always means an Arrest and Indictment.» This comes as the ex-US President has already faced two impeachments, two arrests and one indictment. Meanwhile, Donald Trump is facing legal trouble in both New York and Florida for his involvement in a hush-money scheme during the 2016 election and the mishandling of classified documents. Additionally, he is also dealing with a recent verdict that held him accountable for sexual abuse and defamation against writer E Jean Carroll. The jury awarded Carroll $5 million in damages. Additionally, there may be further criminal charges against Trump in Georgia and Washington DC. Here’s a rundown on all the cases against him along with their present status;

Former United States President and Republican party member Donald Trump may be soon charged by US prosecutors as the former president has informed that he has received a letter which says that he is a target of the Justice Department's investigation into efforts to overturn the results of the 2020 presidential election.  US 2020 elections, which brought democrat Joseph Biden to power as the President of the United States, also brought chaos in the White House, when then incumbent President of US< Donald Trump refused to accept the elections results, and his loyal followers tress-passed and vanadalised the mansion on capitol hill.  New federal charges, on top of existing state and federal counts in New York and Florida and a separate election-interference investigation nearing conclusion in Georgia, would add to the list of legal problems for Trump as he pursues the 2024 Republican presidential nomination. Trump disclosed the existence of a target letter in a post on his Truth Social platform, saying he received it Sunday night and that he anticipates being indicted.

By Scott DiSavino

By Abigail Summerville and Anirban Sen

The United States’ Securities and Exchange Commission (SEC) has accepted Valkyrie’s Bitcoin (BTC) exchange-traded fund (ETF) proposal for official review.