Reuters

(Reuters) - The trial of former Archegos Capital Management head Sung Kook “Bill” Hwang and his deputy Patrick Halligan opens on Wednesday over their role in the failure of the investment firm, which collapsed in a span of days in 2021, causing billions of dollars in losses at global banks.

Hwang and Halligan pleaded not guilty.

WHAT ARE THEY ACCUSED OF DOING?

Authorities allege Hwang and Halligan lied to banks in order... (continue reading...)

NEW YORK (Reuters) - Sung Kook "Bill" Hwang's criminal racketeering trial over the collapse of Archegos Capital Management begins on Wednesday with the selection of jurors who will decide if he and a deputy broke the law in a massive stock scheme that unraveled in just days in 2021.

The trial in Manhattan federal court is expected to last up to eight weeks and will delve into the implosion of Hwang's lightly regulated family investment office, which... (continue reading...)

By Luc Cohen

NEW YORK (Reuters) - Stormy Daniels took the witness stand on Tuesday at Donald Trump’s criminal trial and described in lurid detail her alleged 2006 sexual encounter with the former U.S. president.

Trump has pleaded not guilty to Manhattan prosecutors’ charges he falsified business records to cover up his former lawyer’s $130,000 payment to Daniels, whose real name is Stephanie Clifford, for her silence before the 2016... (continue reading...)

By Richard Cowan

WASHINGTON (Reuters) - The late U.S. civil rights leader and journalist Daisy Bates, who was instrumental in desegregating Arkansas public schools in the 1950s, will be honored on Wednesday when a statue of her is unveiled at the U.S. Capitol.

The bronze statue depicts Bates, who died in 1999 at the age of 84, with a newspaper in one hand and a notebook and pen in the other. It will be joined later this year by another... (continue reading...)

By Rod Nickel

WINNIPEG, Manitoba (Reuters) - TC Energy's planned oil pipeline spin-off is a bet that it can supply more Canadian crude to U.S. Gulf of Mexico refiners, but the venture faces stiff competition and will carry high debt when it starts up.

The South Bow spin-off, which TC investors will vote on June 4, will help Calgary, Alberta-based TC lower its own high debt load and focus on moving natural gas.

South Bow's... (continue reading...)