By Karen Freifeld and Jonathan Stempel NEW YORK (Reuters) – Donald Trump on Friday will learn how the company that bears the former U.S. president’s name will be punished after being found guilty of scheming to defraud tax authorities for 15 years. A New York state judge will impose the sentence after jurors in Manhattan …
Donald Trump’s company to be sentenced for 15-year tax fraud Read More »
NEW YORK (Reuters) – A New York judge on Friday sentenced Donald Trump’s namesake real estate company to pay a $1.6 million criminal penalty, after it was convicted of scheming to defraud tax authorities for 15 years. Justice Juan Merchan of the Manhattan criminal court imposed the sentence, after jurors found two Trump Organization affiliates …
Judge sentences Trump Organization to pay $1.6 million penalty for tax fraud Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. import prices unexpectedly increased in December after five straight monthly decreases, boosted by higher costs for natural gas and food, suggesting that the fight against inflation would be protracted even as consumer prices are trending lower. Import prices rebounded 0.4% last month after declining 0.7% in November, the …
WASHINGTON (Reuters) – The U.S. Energy Department said Friday it has offered a conditional commitment to lend up to $700 million to Ioneer Rhyolite Ridge LLC to mine lithium carbonate for electric vehicle batteries in Nevada. The Rhyolite Ridge Lithium-Boron Project could potentially support production of lithium for approximately 370,000 EVs each year and reduce …
U.S. offers $700 million loan to EV battery material project Read More »
By Deena Beasley San Francisco (Reuters) – Drugmakers are prioritizing complex biotech medicines over treatments that can be given as pills because recent U.S. legislation gives biologics a longer runway before becoming subject to government price limits, top industry executives said this week. The Inflation Reduction Act (IRA), which Democrats passed last August, for the …
Drug companies favor biotech meds over pills, citing new U.S. law Read More »
(Reuters) -UnitedHealth Group Inc beat Wall Street expectations for fourth-quarter profit on Friday, as lesser COVID-related expenses kept a check on medical costs at its health insurance business. Health insurers’ costs have been in flux during the pandemic, but have eased over the past year as COVID-related hospitalizations have fallen from their peak. UnitedHealth’s medical …
UnitedHealth profit beats on lower medical costs as COVID eases Read More »
By Noor Zainab Hussain and Hannah Lang (Reuters) -Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter, missing analysts’ estimates, as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown. The …
Wells Fargo misses profit estimate on higher reserves, scandal costs Read More »
By Naomi Rovnick LONDON (Reuters) – Central bank rate rises could land global borrowers with $8.6 trillion in extra debt servicing costs in coming years, S&P Global estimated on Friday, warning of a slowdown in economic activity as a result. Major central banks have delivered a record 2,700 basis points of rate hikes in 2022 …
Rate rises could add $8.6 trillion to global borrowing costs -S&P Read More »
By Jorgelina do Rosario LONDON (Reuters) -Developing countries have sold a huge $39 billion of international bonds since the start of the year, with investors happy to pile into riskier debt as they bet global interest rates are nearing a peak. The first half of January saw 11 countries launch more than 20 dollar- and …
Investors snap up record $39 billion emerging market sovereign bond splurge Read More »
By Maria Martinez and Paul Carrel BERLIN (Reuters) -German economic output stagnated in the final quarter of 2022 and grew 1.9% over the full year, adding to signs that Europe’s largest economy may dodge a recession, at least over the winter. The full-year rise in gross domestic product reported by German statistics office Destatis on …
German economy likely stagnated in Q4, escaping recession for now Read More »
