Biden moves to slash US credit card fees, app charges

WASHINGTON, Feb 1 (Reuters) – The White House on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple Inc (AAPL.O) and Google parent Alphabet Inc (GOOGL.O) charge on mobile app stores . The move is part of a larger policy drive to promote competition in consumer markets, … Read more

TikTok CEO to testify before US Congress over security concerns

WASHINGTON, Jan 30 (Reuters) – TikTok Chief Executive Shou Zi Chew will appear before the US Energy and Commerce Committee in March, as lawmakers scrutinize the Chinese-owned video-sharing app. Chew will testify before the committee on March 23, which will be his first appearance before a congressional committee, said Representative Cathy McMorris Rodgers, the Republican … Read more

Biden attacks Republicans over ‘mind-boggling’ debt ceiling threat

WASHINGTON, Jan 26 (Reuters) – President Joe Biden cast Republicans as representing the party of “chaos and catastrophe” on Thursday and sharply criticized their refusal to approve an increase in the US debt ceiling unless they get a deal on spending cuts. In an impassioned speech at a steamfitters union hall in Virginia, Biden launched … Read more

Taylor Swift concert fiasco leads to US Senate grilling for Ticketmaster

WASHINGTON, Jan 24 (Reuters) – US senators slammed Live Nation Entertainment’s lack of transparency and inability to block bot purchases of tickets on Tuesday, in a hearing called after a major fiasco involving ticket sales for Taylor Swift’s upcoming concert tour. Live Nation Entertainment Inc (LYV.N) subsidiary Ticketmaster, which has been unpopular with fans for … Read more

US FDA proposes shift to annual COVID vaccine shots

Jan 23 (Reuters) – The US health regulator on Monday proposed one dose of the latest updated COVID-19 shot annually for healthy adults, similar to the influenza immunization campaign, as it aims to simplify the country’s COVID-vaccine strategy. The US Food and Drug Administration also asked its panel of external advisers to consider the use … Read more

Feds seized nearly $700 million from FTX founder Bankman-Fried

Jan 20 (Reuters) – Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a Friday court filing. Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, … Read more

US hits debt ceiling amid standoff between Republicans and Democrats

WASHINGTON, Jan 19 (Reuters) – The US government hit its $31.4 trillion borrowing limit on Thursday, amid a standoff between the Republican-controlled House of Representatives and President Joe Biden’s Democrats that could lead to a fiscal crisis in a few months. Treasury Secretary Janet Yellen informed congressional leaders including House Speaker Kevin McCarthy that her … Read more

Kevin McCarthy elected Republican US House speaker, but at a cost

WASHINGTON, Jan 7 (Reuters) – Republican Kevin McCarthy was elected speaker of the US House of Representatives early on Saturday, after making extensive concessions to right-wing hardliners that raised questions about the party’s ability to govern. The 57-year-old Californian suffered one final humiliation when Representative Matt Gaetz withheld his vote on the 14th ballot as … Read more

Hardline Republicans dig in against McCarthy’s House speaker bid

WASHINGTON, Jan 5 (Reuters) – Hardline Republicans in the US House of Representatives rejected Kevin McCarthy’s speakership bid for an 11th time on Thursday, while his supporters worked behind closed doors in hopes of cementing a deal that could bring success. The voting propelled the House to a level of dysfunction not seen since the … Read more

Kevin McCarthy vows to remain in race for US House speaker amid hardline opposition

WASHINGTON, Jan 3 (Reuters) – Republican Kevin McCarthy vowed on Tuesday to remain in the race to be the powerful US House of Representatives speaker, hours after hardline members of his party repeatedly blocked his bid to lead their brand-new majority. In the first day of what could prove to be a brutal showdown between … Read more