State California Financial News

A judge has denied a request by defense lawyers to release disgraced former FTX CEO Sam Bankman-Fried from jail to help him prepare for the upcoming court case.

By Noor Zainab Hussain, Chibuike Oguh and Jonathan Stempel

California judge is poised to decide if an online lender offering small loans at over 150% interest violates state law, which would deal a blow to finance companies that critics argue have skirted rate caps to profit from cash-strapped borrowers. The California Department of Financial Protection and Innovation (DFPI) is seeking a ruling that would block Chicago-based Opportunity Financial (OppFi) from offering loans with an interest rate above California's maximum of 36%. Los Angeles Superior Court Judge Timothy Dillon is expected to rule any day. Legal experts say that if California wins, it could embolden other states to take action against lenders that make high-interest loans to low-income borrowers using what critics call «rent a bank» partnerships. Critics say the partnerships allow some fintech lenders, which offer quick loans online, to get around the interest-rate caps most states impose on nonbanks by partnering with banks in states like Utah, where there is no interest rate cap. The lenders themselves say the partnerships help smaller state banks compete and fill a void for borrowers with low credit scores who need emergency cash for unexpected expenses like car repairs and medical care. According to a 2022 survey by the Federal Reserve, 37% of adults in the U.S.

Sam Bankman-Fried's Oct. 3 criminal fraud trial, after the jailed FTX founder's lawyers complained he did not have enough time to review millions of pages of evidence to help build his case. U.S.

sprawl across landscapes and attract legal challenges from groups with other ideas on how the land should be used. The need to limit greenhouse-gas emissions has spurred liberals, historically wary of nuclear’s toxic-waste problem, to rethink their stance. In America 46% of Democrats favour using nuclear energy for electricity, the highest proportion in a decade.

A proposal to vastly increase natural gas storage at the site of the nation’s largest-known methane leak is prompting opposition from California lawmakers

California Gov. Gavin Newsom is planning to spend $360 million demolishing a sprawling former furniture factory at San Quentin State Prison and replacing it with something reminiscent of a college campus

Gusty winds and low humidity have brought a high risk of wildfires to the interior of Northern California

Amazon Prime Video, with the much-anticipated release of The Wheel of Time Season 2 among them. The routine practice of adding and removing content from Amazon Prime Video's library aims to keep viewers engaged and adhere to legal obligations.

Apple Inc. is testing the use of 3D printers to produce the steel chassis used by some of its upcoming smartwatches, according to people with knowledge of the matter, heralding a major change to how the company manufactures products. The technique would obviate the need to cut large slabs of metal into the product’s shape.

The Supreme Court in May sharply curtailed the Clean Water Act's power to protect millions of acres of wetlands

Travis Scott has announced his Utopia-Circus Maximus Tour for 2023. The singer has promised his fans “an unparalleled audiovisual experience" on the tour. He will be promoting 'Utopia', his latest album, on tour. 'Utopia' already has 1.5 billion streams online, and is the No.1 album on Billboard.Travis Scott will be touring 28 cities, including the USA and Canada, in 2023. Here are the dates and venues. Travis Scott's 2023 Utopia-Circus Maximus Tour begins on October 11 in Charlotte, North Carolina, and will end on December 29, 2023 in Toronto. But his Houston fans will be disappointed that the singer will not be performing in his hometown this year.

Check out the companies making headlines before the bell.

U.S. officials say the FBI and its partners in Europe infiltrated and seized control of a major malware network that was used for more than 15 years to commit a gamut of online crimes including crippling ransomware attacks

Apple has announced that its annual September event will be held on September 12. The event named ‘Wonderlust’ will be held at the Steve Jobs Theater at the iPhone maker's headquarters in California and can be watched online at apple.com. The flagship Apple event which will feature many high-profile launches from the iPhone 15 lineup to the Apple Watch Series 9 will be hosted at 10:00 am PT or 10:30 PM (Indian time).

U.S. officials say the FBI and its partners in Europe infiltrated and seized control of a major malware network that was used for more than 15 years to commit a gamut of online crimes including crippling ransomware attacks

tax benefits geared at stoking New York’s film-and-television-production business. The city, which owns Pier 94, also is committing more than $50 million for repairs.

The dealmaking interest in ASX-listed lithium miners has spilled over to their unlisted counterparts.

Hero MotoCorp, the country's largest two-wheeler maker known for its entry-level bikes, is looking to create a portfolio of premium motorcycles and scooters with the launch of multiple products in the next two years. Chief executive officer Niranjan Gupta told ET that growing footprint in the premium two-wheeler segment is a priority for the company. Hero MotoCorp's Splendor and Passion dominate the country's entry-level motorcycles segment. A larger chunk of the about '1,000 crore the company has earmarked for spending annually will be used for designing premium and electric vehicles to strengthen the company's presence in these two categories, Gupta said. The CEO, who was speaking on the sidelines of the launch of the 210cc Hero Karizma motorcycle, said the company will continue to build its presence in the premium segment with multiple launches over the next four to eight quarters.

Apple said on Tuesday it would host its fall event on Sept. 12, setting the stage for what analysts believe will be the unveiling of a new line of iPhones and smartwatches. The event will be hosted at the Steve Jobs Theater at its headquarters in Cupertino, California, according to invites from the world's most valuable company.

(Reuters) -Apple said on Tuesday it would host its fall event on Sept. 12, setting the stage for what analysts believe will be the unveiling of a new line of iPhones and smartwatches.