Business

Twitter agreed to pay whistleblower $7 million in June settlement

Twitter Inc (TWTR.N) agreed in June to pay about $7 million to the whistleblower whose allegations will be part of Elon Musk’s case against the company, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The whistleblower, Peiter “Mudge” Zatko, who was fired by Twitter in January and was the company’s […]

Business

U.S. judge rejects AT&T bid to dismiss SEC lawsuit over leaks to analysts

A U.S. judge on Thursday rejected AT&T Inc’s (T.N) bid to dismiss an unusual Securities and Exchange Commission lawsuit accusing the phone company of selectively leaking financial information to Wall Street analysts. In a 129-page decision, U.S. District Judge Paul Engelmayer in Manhattan said he found “formidable” evidence that AT&T and three investor relations executives […]

Business

Fed ‘could very well’ hike rates by 75 basis points this month, Evans says

Chicago Federal Reserve President Charles Evans on Thursday joined his fellow U.S. central bank policymakers in saying that getting high inflation down is “job one,” and to do so the Fed “could very well” raise interest rates by another 75 basis points this month. There is a “decent chance” the result won’t be a recession, […]

Business

U.S. judge sets October 2023 trial for Archegos founder Bill Hwang

Bill Hwang, the Archegos Capital Management founder accused of saddling banks with $10 billion of losses from highly leveraged trades that went sour, will go on trial in October of next year on racketeering and fraud charges, a U.S. judge said on Thursday. Hwang was arrested in April and pleaded not guilty to charges related […]

Business

In Venezuelan oil town, solar-powered car offers escape from fuel lines

In Maracaibo, the once wealthy Venezuelan oil city, two innovators are trying to push a new trend: small electric and solar-powered cars that offer an alternative for people fed up with regular fuel shortages and long lines as the gas station. José Cintron, a 43-year-old electrical technician, has developed a solar-powered car, while Augusto Pradelli, […]

Business

U.S. ban on Nvidia, AMD chips seen boosting Chinese rivals

The U.S. ban on exports to China of Nvidia and AMD’s flagship artificial intelligence chips will create new business opportunities for domestic startups jockeying for a piece of China’s fast-growing data center chip market, industry executives and analysts told Reuters. The ban is part of a longer effort by the U.S. government to crack down […]

Business

Airbus confirms cancellation of remaining Qatar A350 orders

Airbus (AIR.PA) on Thursday confirmed it had revoked all remaining A350 orders from Qatar Airways, raising the stakes in a safety and contractual dispute with the Gulf carrier. “Airbus confirms that it has removed 19 Qatar Airways A350s from the backlog,” a spokesperson said. Qatar Airways had no immediate comment. The rare order cancellation, confirming […]