Tag: REUTERS LEGAL
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House Republicans subpoena labor authorities in Starbucks union dispute
March 22 (Reuters) – The House Education and Labor Committee issued a subpoena to the National Labor Relations Board (NLRB) on Wednesday, alleging labor organization officials failed to conduct fair and impartial union elections at Starbucks Corp (SBUX.O) . In the letter accompanying the subpoena, Virginia Foxx, the committee’s top Republican, said an NLRB report […]
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The US SEC threatens to sue Coinbase for some crypto products
March 22 (Reuters) – The US Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange’s products, straining the largely unregulated industry to stand. Shares of Coinbase fell nearly 13% to $67.33 in extended trading after the company said Wednesday that the regulator had issued it […]
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SVB Financial Group accuses FDIC of cutting off the money
March 21 (Reuters) – SVB Financial Group (SIVB.O) said on Tuesday that the US Federal Deposit Insurance Corporation had taken “improper actions” to close it off from cash held at its former subsidiary Silicon Valley Bank, which has been banned by regulators seized to stop a run on the national bank. SVB Financial made the […]
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FDIC to break up SVB, aim for separate private unit sales
March 20 (Reuters) – The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposit division and its private bank after failing to find a buyer for the failed bank last week found a lender. It will bid for Silicon Valley Private […]
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The US banking system is sound, but not all deposits are guaranteed, Yellen tells senators
WASHINGTON, March 16 (Reuters) – The US banking system remains sound and Americans can be confident that their deposits will be there when they are needed, Treasury Secretary Janet Yellen said on Thursday, though she denied that recent bailouts following two major bank failures mean there is there was now a general government guarantee for […]
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Air Canada pilots complain of ’embarrassing’ pay gap with US after Delta deal
MONTREAL, March 3 (Reuters) – Air Canada (AC.TO) pilots are pushing for higher wages ahead of new contract talks, following recent gains made by pilots at US airline Delta Air Lines (DAL.N), union representatives told Reuters. A contract between Delta and its pilots that went into effect Thursday provides a 34% pay increase over four […]
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Walgreens will not provide abortion pills in some Republican states
March 2 (Reuters) – Walgreens Boots Alliance Inc (WBA.O) said on Thursday it will not provide abortion pills in the states of 20 Republican attorneys general who have told the pharmacy chain it risks breaking the law if it meets the law states provided by mail. The decision comes after the U.S. Food and Drug […]
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Starbucks CEO Schultz may be ordered to testify at the U.S. Senate labor hearing
WASHINGTON, March 2 (Reuters) – U.S. Senator Bernie Sanders declined Thursday to backtrack on calls for Starbucks Corp. (SBUX.O) interim Chief Executive Officer Howard Schultz, who steps down this month, to testify at a hearing on compliance with labor law. Starbucks reiterated Thursday that it has no plans to send Schultz to a U.S. Senate […]
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Ericsson lays off 8,500 employees memo
STOCKHOLM, Feb. 24 (Reuters) – Telecom equipment maker Ericsson (ERICb.ST) will lay off 8,500 workers worldwide as part of its cost-cutting plan, according to a memo sent to employees and viewed by Reuters. While technology companies such as Microsoft (MSFT.O), Meta (META.O) and Alphabet (GOOGL.O) have laid off thousands of employees due to the economic […]