Business

JPMorgan Chase & Co. is suing Jes Staley to hold the former executive responsible for any damages arising from lawsuits accusing the bank of aiding Jeffrey Epstein’s sex trade. The bank filed a third-party lawsuit against Staley in federal court in Manhattan on Wednesday, arguing that if allegations about his relationship with Epstein prove true, he should be held liable.…

California Gov. Gavin Newsom pulled out of a $54 million deal with Walgreens on Wednesday after the pharmacy giant indicated it would not sell an abortion pill through the mail in some conservative-run states. Newsom on Wednesday ordered state officials not to renew a contract with Walgreens to purchase specialty prescription drugs for California’s prison health system, including antiviral and…

As the US housing market continues to suffer from high mortgage rates, both buyers and sellers are increasingly turning to mortgage rate buybacks. Mortgage rate buybacks can vary, but in a 2-1 rate buyback, a seller essentially pays an amount of money to lower the buyer’s rate by 2 percentage points in the first year and 1 percentage point in…

A top railroad CEO plans to tell Congress that he is “deeply sorry” for last month’s flaming train derailment on the Ohio-Pennsylvania border, during what is likely the first of a series of Senate hearings on railroad safety and the response of the Biden government is leading to catastrophe. The accident in Norfolk Southern didn’t hurt anyone, but state and…

A drug commonly used to treat asthma attacks is in short supply, increasing anxiety among patients who use it and the pharmacies and healthcare facilities that offer it. According to the US Food and Drug Administration, albuterol sulfate inhalant solution has been in short supply since last fall. A major manufacturer, Akorn, shut down in February, throwing a big wrench…

The maker of an unproven drug meant to prevent premature births says it will voluntarily remove the product from the US after regulators signaled plans to continue a long-delayed attempt to ban it from the market. The drug Makena is a synthetic version of the hormone progesterone, which is needed to maintain pregnancy. It is the only drug FDA approved…

OpenAI’s Sam Altman rose to fame after releasing ChatGPT late last year, but another area of ​​technology has also piqued his interest. The tech entrepreneur has invested $180 million in a company that aims to defy age and extend human lifespans. MIT Technology Review reported Wednesday. Retro Biosciences, a San Francisco-based biotech company, announced in April 2022 that it had…

The holding company of California-based Silvergate Bank announced on Wednesday that it would begin the process of going out of business and voluntarily liquidating the bank, ending a long descent for the crypto-focused company and weeks of speculation about its viability. With the rise of crypto and traditional banks’ reluctance to partner with the volatile sector, Silvergate had established itself…

Lynyrd Skynyrd guitarist Gary Rossington, who passed away on Sunday, made it big when rock ‘n’ roll was still a defining cultural force on par with today’s TikTok trends and superhero movies. The last surviving co-founder of the legendary band may also have been the last flagpole in what was once a powerful part of American music: southern rock. Or…

An $81 million yacht that authorities believe belongs to a Russian oligarch is about to be put up for bid. According to Antigua and Barbuda, the ship, named Alfa Nero, was abandoned in an Antigua port last February and belongs to sanctioned Russian oligarch Andrey Guryev. He denies he owns the boat, so authorities have issued a public notice giving…