By Hannah Lang (Reuters) – Financial regulators in 25 U.S. states announced on Wednesday a settlement with cryptocurrency investment platform Abra and its CEO for operating without required state licensing. As part of the settlement, Abra agreed to stop making cryptocurrencies available for buying and trading to U.S. Abra Trade customers as of June 15, the Conference of State Bank Supervisors (CSBS) said in a release. Abra had said last year that it was winding … Read more…

(Reuters) – American Chip manufacturing supplier Entegris said on Wednesday that it has inked a preliminary deal with the Biden administration for funding of up to $75 million to aid the development of a new facility in Colorado Springs, Colorado. “We’re not just bringing leading-edge chip technology and (factories) to the United States, we’re also bolstering the suppliers that make leading-edge manufacturing possible,” U.S. Secretary of Commerce Gina Raimondo said in a statement. The announcement … Read more…

(Reuters) -Amazon.com Inc hit $2 trillion in market value for the first time on Wednesday, becoming the fifth U.S. company to surpass that level as optimism around artificial intelligence and potential interest rate cuts this year drove demand for technology-related stocks. The stock rose 3.4% to $192.70, giving the e-commerce giant a market value of over $2 trillion and putting it in the same club as technology heavyweights Microsoft Corp, Apple Inc, Nvidia Corp and … Read more…

(Reuters) – Google will showcase artificial intelligence features, and updates to its Pixel devices and the Android platform at a special event on Aug. 13, according to invites shared online by the Verge and tech commentator Marques Brownlee. The event will be held at Google’s Mountain View headquarters, and have a keynote beginning at 10 am PT (5 pm GMT) followed by a “hands-on product experience”, according to the invite graphic. The Alphabet unit did … Read more…

By Joey Roulette WASHINGTON (Reuters) – RTX Corp subsidiary Collins Aerospace is in talks with NASA to back out of its contract to build new spacesuits for astronauts on the International Space Station, setting back the agency’s bid to modernize its decades-old spacesuits, according to two people familiar with the discussions. The contract was part of $3.5 billion awarded to both Collins and Axiom Space by NASA in 2022. A breakdown of the contract was … Read more…

By Chuck Mikolajczak and Lewis Krauskopf NEW YORK (Reuters) – Investors are gearing up for the final reconstitution of the benchmark indexes by FTSE Russell on Friday, with the furious rally in artificial intelligence (AI) related stocks over the past year expected to leave an outsized imprint on their final shape. The Russell Reconstitution, an event that typically results in one of the busiest trading days of the year, will become official after the closing … Read more…

WASHINGTON (Reuters) – AT&T CEO John Stankey said on Monday that Congress should give the Federal Communications Commission the power to require Big Tech firms to contribute to a government fund that subsidizes access to telecom and broadband services. Under current law, fees are assessed on wireless and landline telephone service subscribers to support the Universal Service Fund. “The seven largest and most profitable companies in the world built their franchises on the internet and … Read more…