Reuters USA - Squid Business

Family of late basketball star Kobe Bryant awarded nearly $29M in photos case

By Brad Brooks (Reuters) – Los Angeles County will pay the wife of late basketball star Kobe Bryant nearly $29 million to settle a lawsuit over allegations that sheriff officers and firefighters shared gruesome photos of the helicopter crash that killed Bryant and his 13-year-old daughter. “Today marks the successful culmination of Mrs. Bryant’s courageous …

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Ghislaine Maxwell seeks to void conviction in Jeffrey Epstein case

NEW YORK (Reuters) – Ghislaine Maxwell asked a U.S. appeals court to throw out her conviction for helping the financier Jeffrey Epstein sexually abuse teenage girls, saying she was immune from prosecution and citing a slew of errors that allegedly tainted her trial. In a Tuesday night filing with the 2nd U.S. Circuit Court of …

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Explainer-Can Republicans topple Biden’s ESG investing rule in court?

By Daniel Wiessner (Reuters) – The Republican-led U.S. House of Representatives voted on Tuesday to block a Biden administration rule allowing employee retirement plans to consider environmental, social and corporate governance (ESG) factors when selecting investments. President Joe Biden has promised to veto the bill if it passes the Senate, but Republican-led states and the …

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Massachusetts U.S. Attorney taps ex-DOJ watchdog to defend her in ethics probe

By Sarah N. Lynch and Nate Raymond BOSTON (Reuters) – Massachusetts U.S. Attorney Rachael Rollins has hired a former Justice Department inspector general to defend her in a widening ethics investigation into her appearance at a political fundraiser and her travel. Michael Bromwich, an attorney at Steptoe & Johnson LLP who served as the Justice …

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Chicago’s incumbent mayor Lightfoot loses re-election bid

By Joseph Ax (Reuters) -Chicago’s incumbent Mayor Lori Lightfoot lost her re-election bid on Tuesday, with vote totals showing that two of her rivals will face each other in an April runoff ballot. Paul Vallas, the former public schools chief in Chicago and Philadelphia who ran unsuccessfully for Chicago mayor in 2019, secured the top …

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Hedge funds unimpressed by Chinese internet giants’ peppy earnings

By Summer Zhen HONG KONG (Reuters) – A set of bumper earnings reports from the likes of Baidu Inc and other Chinese internet giants isn’t impressing hedge funds and other investors who have cut exposure to the stocks and seem to be waiting for more good news. For the now, investors remain wary of a …

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US House Democrat opposes giving Biden power to ban TikTok

By David Shepardson WASHINGTON (Reuters) -The top Democrat on the House Foreign Affairs Committee said on Tuesday he opposed a Republican bill that would give President Joe Biden the power to ban Chinese-owned social media app TikTok and other apps. The committee opened debate on Tuesday on the measure, which Republican committee chair Michael McCaul …

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GM cutting hundreds of jobs to reduce costs

By David Shepardson (Reuters) -General Motors Co is cutting hundreds of executive-level and salaried jobs as it looks to cut costs and streamline operations, a person briefed on the matter told Reuters on Tuesday. The global reductions are in the “low hundreds,” the person said. GM Chief People Officer Arden Hoffman said in a letter …

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Nigeria’s Tinubu declared president-elect by electoral commission

LAGOS (Reuters) – Nigeria’s ruling party candidate Bola Tinubu was on Wednesday declared winner of a disputed weekend presidential election by the electoral commission after defeating two of his closest rivals. (Reporting by MacDonald Dzirutwe; Editing by Shri Navaratnam)

Biden says ‘I’m gonna raise some taxes’ in March budget proposal

By Steve Holland and Trevor Hunnicutt VIRGINIA BEACH, Virginia (Reuters) – President Joe Biden said on Tuesday that his March 9 budget proposal to the U.S. Congress will include some higher taxes, including on billionaires, but will not violate his pledge not to raise rates on Americans making less than $400,000 a year. “On March …

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