(Reuters) - JPMorgan Chase expects to enter into a resolution with a third U.S. regulator that will require it to pay a civil penalty of $100 million for reporting incomplete trading data to surveillance platforms, it disclosed in a regulatory filing on Wednesday.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Pooja Desai)
TORONTO — Canadians who applied to be part of a class-action lawsuit against LifeLabs Inc. are now receiving cheques and e-transfers. KPMG, which is administering the claims, says on the class-action website that more than 900,000 valid claims were received. Given the large number of valid claims, KPMG says claimants will receive an e-transfer of $7.86. Those receiving a cheque will get $5.86, after deducting a $2 processing fee. The class action was launched against LifeLabs after a 2019 data b
Honda has selected Port Colborne, Ont., as the future site of a lithium ion separator plant, the first of its kind in Canada and a key part of the country's multibillion-dollar electric vehicle supply chain. The news coincides with the U.S. slapping heavy tariffs on Chinese electric cars, batteries, and minerals used to make those batteries. Mike Drolet explains what's behind the White House's decision, what it likely mean for Canada, and the broader ripple effects of a trade war.
The youngest baby boomers turn 60 years old in 2024, meaning they are only a couple years away from qualifying for Social Security retirement benefits. Their oldest boomer compatriots, born in 1946,...
SINGAPORE/BEIJING (Reuters) -Two Chinese chipmakers are in the early stages of producing high bandwidth memory (HBM) semiconductors used in artificial intelligence chipsets, according to sources and documents. The progress in HBM - even if only in older versions of HBM - represents a major step forward in China's efforts to reduce its reliance on foreign suppliers amid tensions with Washington that have led to restrictions on U.S. exports of advanced chipsets to Chinese firms. CXMT, China's top manufacturer of DRAM chips, has developed sample HBM chips in partnership with chip packaging and testing company Tongfu Microelectronics, according to three people briefed on the matter.
For decades, Western companies made a fortune betting on the inexorable rise of the Chinese consumer. Now an economic slump and the emergence of ferocious local competitors means those bets look less safe as price wars erupt.
(Reuters) -Uber Technologies is introducing a shuttle service in the U.S. and widening a delivery tie-up with membership-only retailer Costco as part of a series of initiatives unveiled on Wednesday to attract price-conscious consumers amid competition from rival Lyft. The initiatives were unveiled at the company's GO-GET annual event for new products and are meant to maintain growth at the ride-share and delivery giant after a strong 2023 that saw it reporting its first-ever annual profit. The San Francisco, California-based company said it will allow Uber Shuttle users to reserve up to five seats in advance on buses operating in high-traffic areas like airports, concerts, and sports events.
While dining out, you know that you're going to add gratuity, but lately, more restaurants have been adding more fees. Some call it a service fee. Others, a credit card fee, or an inflation charge. It's a practice happening so frequently in the state of California that lawmakers are putting a stop to it.
One of the easiest ways to set yourself up for a financially secure future is to contribute to your workplace retirement savings account -- but many women are not doing this. In fact, only 52% of...
Walmart on Tuesday announced layoffs affecting several hundred jobs at the retail giant’s campus offices. It also said it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas; Hoboken, New Jersey; and the San Francisco Bay Area. The news, conveyed via a Walmart staff memo provided to The Associated Press, said the relocations will serve the goal of “bringing more of us together more often.”
SAN DIEGO (AP) — One of California's most influential agricultural companies filed a lawsuit Monday against the state to stop a contentious law to help farmworkers unionize that Democratic Gov. Gavin Newsom reluctantly signed two years ago after pressure from the White House. The action by the Wonderful Co. comes as it battles the United Farm Workers over a newly formed UFW local of 640 workers at one of its businesses. The $6 billion company founded by Stewart and Lynda Resnick, who have donate
(Bloomberg) -- OPEC+ is once again grappling with the thorny question of how much oil its members are actually capable of pumping, an issue that poses risks for the group’s efforts to stabilize world markets. Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindBiden Accuses China of ‘Cheating’ on Trade, Imposes New TariffsFlood of China Used Cooking Oil Spurs Call to Hike US LeviesMacron Puts French Banks in Play With Plan to Transform EuropeHow One of the World's
Footwear brand Converse will cut jobs as part of parent company Nike's on-going $2 billion cost savings plan, a source familiar with the matter said on Tuesday. Nike had laid out a costs saving plan in December that would stretch over the next three years and also include tightening the supply of some products and reducing management layers. The cost-saving plan has prompted a slew of job cuts over the past few months at the world's largest sportswear maker.
Although the definition of "middle class" has evolved over the years, the one thing that has remained constant is that middle-income earnings are not keeping up with inflation. According to government...
U.S.-based Red Lobster abruptly closed more than 50 of its seafood restaurants across the country on Monday, as the company is reported to be considering Chapter 11 bankruptcy protection.
Building wealth over the long term is crucial to financial success, especially later in life when you enter retirement. Building wealth can seem overwhelming, but it certainly doesn't have to be....
(Reuters) -Walmart Inc announced on Tuesday that it plans to cut hundreds of jobs at its corporate headquarters and relocate a majority of its U.S. and Canada-based remote workforce to three offices, a shift in strategy after initially endorsing virtual work during the pandemic. "We are asking the majority of associates working remotely, and the majority of associates within our offices in Dallas, Atlanta, and our Toronto Global Tech office, to relocate," Donna Morris, Walmart's chief people officer wrote in a memo to its U.S. campus associates on Tuesday. The world's largest retailer and the country's largest private employer, with 2.1 million workers globally, said most of the relocations will be to its headquarters in Bentonville, Arkansas, while some will move to its offices in the San Francisco Bay Area or Hoboken, New Jersey.
Employee protections are increasing, and the Ontario government is placing the burden on employers
A Gen-Z job hopper who has changed roles 17 times says older generations want her to be "miserable" by staying in a job for "stability". Mich Marie, 26, has job hopped since she had her first job in a supermarket aged 14. She spent her school years in different part-time roles such as in retail and restaurants. After graduating with a degree in human services from New York City College of Technology, Brooklyn, Mich went on to try different positions such as a case manager, window install assistant and care coordinator. Mich's longest role was a direct support professional which she held for two years and she tends to stay in her jobs for no longer than six months.
Conservative Party of Canada Leader Pierre Poilievre announced in B.C. on Tuesday the introduction of the Safe Hospitals Act. “It will create an aggravating factor for sentencing for anyone who brings and illegal and unauthorized weapon into a hospital. It will take away the discretion from the federal health minister under the Controlled and Substances Act to decriminalize illicit drugs like fentanyl and meth, crack and heroin in hospitals,” Poilievre said.
When you're working, saving for retirement feels like the hard part. But once you're retired, the challenge becomes spending in a disciplined fashion and according to a well-thought-out plan....
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