regulatory
By Nikunj Ohri and Aditya Kalra NEW DELHI (Reuters) – India’s financial crime agency will summon Flipkart and Amazon (NASDAQ:) executives as it steps up an investigation into alleged foreign investment law violations, days after raiding some of the e-commerce firms’ sellers, a senior government source said. The planned action…
By Ashwin Manikandan and Haripriya Suresh BENGALURU (Reuters) – India’s scrapping of a time-consuming compliance step will accelerate the pace at which Indian startups domiciled abroad shift back home to participate in the country’s listing boom, according to bankers, lawyers and investors. Since last month, foreign-based companies no longer require…
(Reuters) – The U.S. Supreme Court is set on Monday to begin its new nine-month term that has cases on issues including guns, gender-affirming medical care for transgender minors, online pornography, federal regulatory powers involving nuclear waste storage and vape products, and securities fraud litigation involving Nvidia (NASDAQ:) and Facebook…
By John Kruzel WASHINGTON (Reuters) – A case involving the vape industry gives the U.S. Supreme Court a chance to further erode the authority of federal regulatory agencies following other major rulings as the justices gird for a new term featuring important business-related questions. The nine-month term, which begins on…
By Manya Saini (Reuters) – Wells Fargo’s latest regulatory setback could delay the timeline for lifting the asset cap imposed by the U.S. Federal Reserve and stifle its growth, Wall Street analysts said on Friday. Its ability to expand into risky businesses was restricted on Thursday by a U.S. banking…
SHANGHAI (Reuters) – China’s State Administration of Market Regulation (SAMR) said on Friday that Alibaba (NYSE:) Group had completed three years “rectification” following a record $2.75 billion fine levied in 2021 for monopolistic practices. The regulator said Alibaba had achieved “good results” and that it would continue to “guide” the…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Elliott Investment Management on Monday said in a regulatory filing that it has a 7% beneficial ownership in Southwest Airlines (NYSE:), giving a breakdown of what it owns as it tries to overhaul management and improve financial performance. The 7% beneficial ownership is made…
Citigroup Inc. (NYSE:) reported a strong second quarter for 2024, with a net income of $3.2 billion and earnings per share (EPS) of $1.52. The bank saw revenues increase by 4%, with notable growth in its Services, Markets, Wealth, and US Personal Banking divisions. Despite the positive financial performance, Citigroup…
By Foo Yun Chee BRUSSELS (Reuters) -Microsoft has ditched the board observer seat at OpenAI that has drawn regulatory scrutiny on both sides of the Atlantic, saying it was not necessary after the AI start-up’s governance had improved significantly in the past eight months. Apple (NASDAQ:), which last month announced…
SHANGHAI (Reuters) – Electric vehicle maker Nio (NYSE:) has won approval to build a third factory in China that would boost its total approved production capacity to 1 million cars, almost at par with Tesla (NASDAQ:)’s massive Shanghai plant, three people with knowledge of the matter said. Tesla can push…
