Biden stays silent on Trump indictment as Biden White House stays mum
President Biden refuses to comment on the federal indictment of Donald Trump. The White House and Biden camp avoid questions while Biden says he has no comment. Analysts say the stance aims to prevent political fodder and protect DOJ independence as Biden faces his own inquiry into classified materials.
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JPMorgan aims $290 million settlement with Epstein victims
JPMorgan Chase proposes a $290 million settlement with Epstein victims in a class action alleging the bank enabled the sex trafficking operation through loans and cash withdrawals from 1998 to 2013. The move follows depositions by CEO Jamie Dimon and a judge ruling the Doe case can proceed as a class action.
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NYC to set minimum pay for app delivery workers
New York City will implement a first of its kind minimum wage for food delivery app workers. The rate rises to 17.96 per hour on July 12 and to 19.96 by April 2025, with annual inflation adjustments thereafter, signaling a major shift for Uber Eats, DoorDash, and Grubhub amid industry pushback and potential legal action.
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Stocks Rise as S&P Reaches Over Year High on Bets for Fed Pause
Wall Street advanced Monday with the S&P 500 up 40.07 points to 4,338.93, its highest close since April 2022, led by tech gains from Microsoft and Apple. The Dow rose 189.55 and the Nasdaq climbed 202.78 as investors bet the Fed may pause rate hikes at its meeting, easing pressure on inflation and banks. Carnival jumped 12.5 percent on upbeat demand and pricing, while Adenza announced a $10.5 billion cash and stock acquisition. Inflation data due this week may confirm prices are cooling from May.
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