Usa Financial News

New Jersey’s Supreme Court is considering whether an Atlantic City casino can get payouts from business interruption insurance for losses during the COVID-19 outbreak

On Tuesday, renowned author and financial literacy advocate, Robert Kiyosaki, sparked off a spirited debate in the cryptocurrency sphere with his remarks on the future of Bitcoin and the US dollar. 

William Wu’s third tour of the capital raise circuit in three years has eyebrows raised. Street Talk understands the crypto founder and Oaktree Capital alumnus is doing the rounds, this time seeking to raise $US5 million for a generative AI photography business.

Apple Apple Inc.'s lucrative agreement to use Alphabet Inc.'s Google as the default search engine for the iPhone includes a provision that the two tech giants will “support and defend” the deal against government scrutiny, a top Apple executive said at an antitrust trial. Their long time contract was renegotiated in 2016 to include the provision, Apple's Senior Vice President of Services Eddy Cue disclosed Tuesday in a Washington federal court, where the US government is pressing its claim that Google operates a monopoly in the search business. Cue, the architect of the most recent version of the agreement, said the provision for a joint defence was added at Google's request. He said it was handled by company lawyers so he couldn't speak directly to why it was included.

Amazon.com filed on Tuesday poses perhaps the biggest legal test so far for the platoons of lawyers who have defended the technology giant for years against allegations of antitrust and consumer protection violations. The long-awaited FTC case against Amazon, joined by 17 state attorneys general, accuses the company of abusing its dominance as an online retailer to thwart competitors and harm sellers and customers that rely on its platform. The company vowed to fight the lawsuit, saying its practices have spurred competition and innovation. Kevin Hodges, a partner at law firm Williams & Connolly, was the first member of Amazon's defence team identified in a court document in the case. Williams & Connolly, known for its focus on litigation, in April successfully defeated a separate private lawsuit accusing the company of curbing competition for shipping and fulfillment services. Williams & Connolly is also a lead defence firm in another major antitrust case targeting Big Tech. Partner John Schmidtlein heads a team comprised of several big law firms defending Alphabet's Google in an ongoing landmark trial over the company’s alleged monopoly power in online search. An Amazon spokesperson did not immediately respond to questions about its legal team. The company is likely to rely on multiple law firms to defend the FTC case.

Heartland Tri-State Bank, a community bank in Elkhart, Kansas, has been forced to shut down after its CEO, Shan Hanes, lost millions of dollars in a cryptocurrency scam. 

The Financial Industry Regulatory Authority plans to extend its remote inspections program, according to a filing with the Securities and Exchange Commission.

The U.S. state of Texas accounts for over 28% of all Bitcoin (BTC) hashing power in the United States, according to the latest Hashrate Map by crypto mining service provider Foundry USA. 

A federal judge has granted a motion from the legal team for Sam Bankman-Fried (SBF) allowing the former FTX CEO to wear business attire during his first criminal trial.

Bitcoin (BTC) managed to stay above the $26,000 level even as the S&P 500 tumbled to a three-month low and the US dollar index (DXY) rose to a new year-to-date high. This is a mildly positive sign as it shows a lack of aggressive selling at lower levels.

US Treasury yields were little changed to modestly higher on Wednesday, as traders took a breather after a months-long sell-off fueled by expectations that the Federal Reserve will keep rates high for some time to bring inflation down to its 2% target. Yields, however, are expected to stay high, with the latest pullback seen as a minor blip. «In the near term, there is pro-active reluctance to buy (Treasuries) particularly given the speed of the latest sell-off,» said Ben Jeffrey, rates strategist, at BMO Capital in New York. «There are definitely enough risks out there in terms of labor market growth and the economy, as well as the risk of a government shutdown that will eventually help to bring some demand and push rates lower,» he added. In the credit default swaps market, the threat of another government shutdown sent one-year credit default swaps to their widest since June 1, when the US government was on the cusp of a technical sovereign default as politicians in Washington haggled over the borrowing limit. U.S. one-year credit default swaps widened to 22 bps on Wednesday, from 21 bps at Tuesday's close.

₹7,801 per bbl, having swung between ₹7,568 and ₹7,822 per bbl during the session so far, against a previous close of ₹7,543 per barrel. US crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, according to US government data.

By Lucia Mutikani

WASHINGTON (Reuters) — The U.S. Federal Trade Commission (FTC) set a date on Wednesday for its internal judge to hear its arguments on why Microsoft (NASDAQ:MSFT) should not be allowed to buy games maker Activision Blizzard (NASDAQ:ATVI).

(Reuters) -The top U.S. markets regulator on Wednesday told Washington lawmakers that a looming shutdown of the federal government would reduce his agency's staffing to «skeletal» levels, blocking it from approving companies' Wall Street debuts and hindering its ability to respond to any market turmoil.

Click here! “Pixel event invites also just went out. We are descending into the most fun time of the year, tweeted Marques Brownlee, a popular American YouTuber on X (formerly known as Twitter) The leaked information regarding the Pixel 8 series has provided insights into the potential appearance of the smartphone. The design of Pixel 8 series is not anticipated to undergo significant changes following the introduction of a visor-like camera module in the Pixel 7 series, but there might be a shift from a curved display to a flat one in the Pixel 8 Pro.

British royal family has changed noticeably in recent years. The future king and queen, Prince William and Kate Middleton, have seen a significant increase in popularity, while Meghan Markle and Prince Harry have seen a fall in their reputation, according to a report from the UK's Daily Express. It has garnered attention in both the UK and the US because Prince William and Kate Middleton's popularity has grown significantly.

By David Shepardson

By Trevor Hunnicutt

Legal frameworks ensuring user privacy and the freedom to choose between central bank digital currencies (CBDCs) and other forms of money will be key in driving CBDC adoption, according to the head of the Bank of International Settlements.

Rep. Patrick McHenry, who chairs the United States House Financial Services Committee, has suggested that he may try to subpoena the Securities and Exchange Commission (SEC) over documents related to former FTX CEO Sam Bankman-Fried, or SBF.