Reuters

By Nupur Anand

NEW YORK (Reuters) - Sung Kook “Bill” Hwang, founder of the $36 billion private investment firm Archegos Capital Management which collapsed spectacularly in 2021, arrived in court on Wednesday for the start of his criminal trial.

Here is a timeline of the fund's blow up - one of the biggest in years - which left global banks with $10 billion in losses:

1996-2001: Hwang, who moved to the United States as a... (continue reading...)

By Jonathan Stempel

(Reuters) - The U.S. government on Wednesday sued Hyundai and Kia's American financing arm, accusing it of repossessing vehicles leased by military service members without first obtaining court permission as required by law.

According to a complaint filed in federal court in Los Angeles, Hyundai Capital America violated the Servicemembers Civil Relief Act between 2015 and 2023 by repossessing 26 vehicles whose owners... (continue reading...)

WASHINGTON (Reuters) -The U.S. Federal Election Commission on Wednesday granted Republican presidential candidate Donald Trump a 45-day extension to file personal financial disclosures.

Trump, who is facing significant court fines and legal fees while he campaigns ahead of the Nov. 5 presidential election, had been due to submit a report on his personal financial situation to the Federal Election Commission on May 15.

But a legal... (continue reading...)

By Clotaire Achi and Julien Pretot

MARSEILLE, France (Reuters) - The Olympic flame landed on French soil amid tight security on Wednesday, firing the starting gun on a summer extravaganza of sport that President Emmanuel Macron hopes will showcase the splendours of France and burnish his legacy.

The flame arrived in Marseille, a port city in southern France founded by Greek merchants, after a 12-day trip from Greece onboard the Belem, a... (continue reading...)

By Sam Tobin and Michael Holden

LONDON(Reuters) - Four current British newspaper editors and a string of other senior press figures have been named in a privacy lawsuit brought by Prince Harry and other public figures against the publisher of the Daily Mail and the Mail on Sunday.

Harry, the younger son of King Charles, is one of seven claimants suing Associated Newspapers over allegations of voicemail interception – commonly known as... (continue reading...)