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Uber’s trucking ambitions in lower gear after Otto deal

June 15, 2017 By Heather Somerville and Julia Love SAN FRANCISCO (Reuters) – Uber Technologies Inc’s drive to become a major player in the trucking business is off to a bumpy start, with analysts and industry executives questioning what exactly the company can bring to the sprawling $700-billion industry. The San Francisco ride-services giant had planned to disrupt freight hauling by offering a complete package of trucking technology including self-driving trucks and smartphone-based logistics services. But what has emerged so far, industry watchers say, is a modest effort to build…

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Goldman confirms buying Venezuela bonds after opposition cries foul

May 30, 2017 CARACAS (Reuters) – Goldman Sachs Group Inc has confirmed it bought Venezuelan bonds after being excoriated by the country’s opposition for financing the embattled government of President Nicolas Maduro, who is facing sustained protests. The president of the opposition-led Congress accused the bank of financing “dictatorship” after the Wall Street Journal reported Goldman had bought $2.8 billion in bonds issued by state oil company PDVSA at a steep discount. “We bought these bonds, which were issued in 2014, on the secondary market from a broker and did…

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Acting SEC chair plans test to lower exchange fees

March 23, 2017 By Sarah N. Lynch WASHINGTON (Reuters) – The acting head of the U.S. Securities and Exchange Commission has directed the regulator to launch a pilot plan that would test how the market would be affected if exchanges lowered the fees they charge brokers to execute trades. Michael Piwowar, who is acting chairman while President Donald Trump’s appointee for the post Jay Clayton awaits confirmation by the U.S. Senate, announced the plan in a speech at Columbia University in New York City. Piwowar said he thinks it will…

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SEC will not appeal ruling preventing certain retroactive penalties

February 23, 2017 By Sarah N. Lynch WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission has decided not to appeal a court ruling that limited its ability to punish bad actors for misconduct that predated the 2010 Dodd-Frank Wall Street reforms, the agency announced Thursday. The SEC’s decision comes after the U.S. Court of Appeals for the District of Columbia ruled in January that the regulator overstepped its authority when it barred attorney and stock broker Gregory Bartko from working in various financial services sectors, including the transfer agent…

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