Allianz to pay $6 billion in US fraud case, fund manager charged

Allianz to pay $6 billion in US fraud case, fund manager charged

NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its US asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the US Department of Justice and US Securities and … Read more

Johnny Depp’s attorneys challenge Amber Heard on abuse claims

Johnny Depp's attorneys challenge Amber Heard on abuse claims

May 16 (Reuters) – Attorneys for actor Johnny Depp began their questioning of Amber Heard in the couple’s defamation trial on Monday and challenged the “Aquaman” star’s claims that she suffered physical abuse before and during their brief marriage. Depp’s attorneys introduced photographs of Heard making public appearances on red carpets and “The James Corden … Read more

JetBlue goes hostile to buy Spirit Airlines after rejection

JetBlue goes hostile to buy Spirit Airlines after rejection

CHICAGO/WASHINGTON, May 16 (Reuters) – JetBlue Airways Corp (JBLU.O) is not taking no for an answer in its quest to buy rival Spirit Airlines (SAVE.N). On Monday, the New York-based carrier launched a hostile all-cash takeover bid for Spirit Airlines, two weeks after the low-cost carrier rejected an offer from the larger rival. JetBlue, which … Read more

Shanghai aims to reopen more businesses shut by COVID, Beijing battles on

Shanghai aims to reopen more businesses shut by COVID, Beijing battles on

Shanghai malls, shops to gradually resume in-store operations Some Beijing districts extend work-from-home guidance Shanghai lockdown frustrates, infuriates residents Curbs have rattled global supply chains SHANGHAI/BEIJING, May 15 (Reuters) – Shanghai will gradually begin reopening businesses such as shopping malls and hair salons in China’s financial and manufacturing hub from Monday after weeks in strict … Read more

Black hole hunters cast gaze at center of the Milky Way galaxy

Black hole hunters cast gaze at center of the Milky Way galaxy

WASHINGTON, May 10 (Reuters) – Residing at the center of our spiral-shaped Milky Way galaxy is a beast – a supermassive black hole possessing 4 million times the mass of our sun and consuming any material including gas, dust and stars straying within its huge gravitational pull. Scientists have been using the Event Horizon Telescope … Read more

EXCLUSIVE Boeing clashes with key supplier ahead of Starliner spacecraft launch

EXCLUSIVE Boeing clashes with key supplier ahead of Starliner spacecraft launch

WASHINGTON, May 11 (Reuters) – Boeing Co (BA.N) is feuding with Aerojet Rocketdyne (AJRD.N), a key supplier for its Starliner spacecraft, as the US aerospace giant races to test launch the uncrewed astronaut capsule and mend its reputation in the space sector, people familiar with the matter said. The CST-100 Starliner is scheduled for a … Read more

Shares drop, yields shoot up after US inflation data

Shares drop, yields shoot up after US inflation data

MILAN, May 11 (Reuters) – World shares turned lower on Wednesday and bond yields shot up after US data showed inflation there slowed down less than expected last month, cementing expectations of aggressive rate hikes by the Federal Reserve. US futures turned negative after data showed US annual consumer price growth slowed to 8.3% in … Read more

Celebrity chef Mario Batali acquitted of sexually assaulting woman in Boston

Celebrity chef Mario Batali acquitted of sexually assaulting woman in Boston

BOSTON, May 10 (Reuters) – Chief Mario Batali was acquitted on Tuesday of sexually assaulting a woman at a Boston bar in 2017 while posing with her for fan “selfie” photos, with the judge doubting the credibility of the accuser in the latest # MeToo era trial involving a US celebrity accused of misconduct toward … Read more