Wall Street Journal - July 11
July 11 (Reuters) -The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
- Cryptocurrency exchange BitMEX has pleaded guilty to a U.S. criminal charge over its failure to maintain an adequate anti-money-laundering program, federal prosecutors said on Wednesday.
- Retailer Costco Wholesale COST.O said on Wednesday it will raise its membership fees for the first time since 2017, less than four months after Gary Millerchip took over as its finance chief.
- A federal jury on Wednesday found SCWorx's WORX.O former Chief Executive Marc Schessel guilty for his participation in a scheme to mislead investors about the healthcare company's procurement of Covid-19 rapid test kits.
- Archegos Capital Management founder Bill Hwang was convicted Wednesday of manipulating stock prices and defrauding banks in a scheme that minted him a multibillion-dollar fortune before his firm collapsed in March 2021.
- The Biden administration will levy a 25% tariff on Mexican imports containing steel from China and a 10% duty on products made with aluminum from the country, the White House said on Wednesday.
- A U.S. Bankruptcy judge on Wednesday ordered airplane parts supplier Incora to unwind a 2022 financing deal, a defeat for Pimco, Silver Point and other investment firms that used it to leapfrog other creditors.
(Compiled by Bengaluru newsroom)
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