Update: Prologis, RE/MAX Shares Rise; Judge Grants Preliminary Approval on Real Estate Commission Settlement
(Bloomberg) -- The Securities and Exchange Commission accused the auditor of Donald Trump’s social-media company of massive fraud that affected more than 1,500 regulatory filings.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTrump Auditions VP Picks Before Wealthy Donors in Palm BeachTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in P
The Securities and Exchange Commission on Friday banned an accounting firm that was registered as the auditor for Trump Media & Technology Group. BF Borgers failed to comply with regulatory standards when it reviewed more than 1,500 SEC filings from 2021 to 2023, the SEC said. In some cases, BF Borgers used workpapers from previous audits, changing only the relevant dates, and passed them off as workpapers for a current audit period, the SEC said.
Elon Musk's carmaker Tesla has sued an Indian battery maker for infringing its trademark by using the brand name "Tesla Power" to promote its products, seeking damages and a permanent injunction against the company from a New Delhi judge. Tesla in a hearing at the Delhi High Court this week said the Indian company had continued advertising its products with the "Tesla Power" brand despite a cease-and-desist notice sent in April 2022, according to details of the proceedings posted on the court website on Friday. During the hearing, the Indian company, Tesla Power India Pvt Ltd, argued its main business is to make "lead acid batteries" and it has no intention of making electric vehicles.
Retirement legend Ted Benna says the savings model isn’t for everyone, but he would do it all over again.
Even in a job market that ultimately favors applicants over firms, the hiring process remains a grueling ordeal.
Google's preeminence as an internet search engine is an illegal monopoly propped up by more than $20 billion spent each year by the tech giant to lock out competition, Justice Department lawyers argued at the closings of a high-stakes antitrust lawsuit. Google, on the other hand, maintains that its ubiquity flows from its excellence, and its ability to deliver results customers are looking for. The U.S. government, a coalition of states and Google all made their closing arguments Friday in the 10-week lawsuit to U.S. District Judge Amit Mehta, who must now decide whether Google broke the law in maintaining a monopoly status as a search engine.
(Bloomberg) -- The Federal Trade Commission’s allegations that shale trailblazer Scott Sheffield tried to collude with OPEC to prop up crude prices is unnerving US oil executives pursuing more than $100 billion in deals.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTrump Auditions VP Picks Before Wealthy Donors in Palm BeachTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly
Exxon Mobil has completed its $60 billion acquisition of rival Pioneer Natural Resources after reaching an agreement with antitrust regulators, closing out the largest oil-and-gas deal in decades.
WASHINGTON (Reuters) -Google and the U.S. Justice Department clashed in court on Friday over claims that the Alphabet unit unlawfully schemed to dominate search advertising, during closing arguments in a case the government contends could shape the “future of the internet.” U.S. District Judge Amit Mehta in Washington grilled both sides with questions, probing whether competitive platforms such as ByteDance’s TikTok and Meta’s Facebook and Instagram are competitive substitutes for search advertising dollars. Mehta called platform “substitutability” for advertisers a central issue the court must resolve, as he prepares to render a major decision in coming months on whether Google's conduct broke antitrust law.
The Irvine, California-based company's shares rose nearly 10% in afternoon trade after having lost more than 60% of their value this year, as of Wednesday's close. With the addition of the R2, Rivian expects a total annual capacity of 215,000 vehicles. The company said the funds from the state of Illinois would be spent on expanding the plant, improving public infrastructure and job training programs for its workforce.