Stocks churn ahead of Fed minutes as oil tumbles on price cap plan

Stocks churn ahead of Fed minutes as oil tumbles on price cap plan

Fed minutes for November due at 1900 GMT U.S. Thanksgiving public holiday on Thursday Stock eke out slim gains globally Euro zone economic data points to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global shares churned on Wednesday ahead of minutes of a Federal Reserve meeting that could shed light … Read more

Crypto lender Genesis says no immediate plans to file for bankruptcy

Crypto lender Genesis says no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it has no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX forced it to suspend customer redemptions. “We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any … Read more

Banking giants and New York Fed start 12-week digital dollar pilot

Banking giants and New York Fed start 12-week digital dollar pilot

NEW YORK, Nov 15 (Reuters) – Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday. Citigroup Inc , HSBC Holdings Plc (HSBA.L), Mastercard Inc (MA.N) and Wells Fargo & Co (WFC.N) are among the financial companies participating in the experiment alongside … Read more

Buffett’s Berkshire discloses $4.1 bln TSMC stake

Buffett’s Berkshire discloses .1 bln TSMC stake

Nov 14 (Reuters) – Berkshire Hathaway Inc (BRKa.N) said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing (2330.TW), , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. The news sent shares in TSMC up more than 6% in Taiwan on Tuesday, as it boosted investor sentiment … Read more

Climate protesters in Portugal storm building, urge minister to step down

Climate protesters in Portugal storm building, urge minister to step down

LISBON, Nov 12 (Reuters) – Hundreds of protesters angry about the climate crisis took to the streets of Lisbon on Saturday, with dozens storming a building where Portugal’s Economy Minister Antonio Costa e Silva was speaking demanding that the former oil executive resign. Holding banners and chanting slogans, protesters demanded climate action. As some demonstrators … Read more

FTX founder Sam Bankman-Fried says he is in the Bahamas

FTX founder Sam Bankman-Fried says he is in the Bahamas

NEW YORK, Nov 12 (Reuters) – FTX founder Sam Bankman-Fried told Reuters on Saturday that he was in the Bahamas, denying speculation on Twitter that he had flown to South America after the exchange filed for bankruptcy and he was removed as chief executive. When asked by Reuters whether he had flown to Argentina, Bankman-Fried … Read more

Lula’s honeymoon with Brazil markets ends amid spending plan fears

Lula’s honeymoon with Brazil markets ends amid spending plan fears

BRASILIA, Nov 10 (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s brief honeymoon with financial markets looked finished on Thursday, as he pushed for more room to grow social spending without setting long-term fiscal rules or naming his top economic policymakers. Brazil’s currency and benchmark Bovespa stock index (.BVSP), which rose last week as … Read more

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

HONG KONG/SINGAPORE/NEW YORK, Nov 10 (Reuters) – FTX Chief Executive Sam Bankman-Fried on Thursday launched an urgent push to raise funds to save his firm as the crypto exchange looks to plug a reported $8 billion hole in its finances, according to tweets and a memo to employees. Bankman-Fried said he was in talks with … Read more

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Nov 10 (Reuters) – (This story contains language some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “Iā€™m sorry,ā€ he told them. ā€œI fucked up.ā€ The reason for the mea culpa: His announcement half an hour earlier that … Read more

Canada’s BMO books $834 mln charge over U.S. Ponzi lawsuit loss

Canada’s BMO books 4 mln charge over U.S. Ponzi lawsuit loss

Nov 9 (Reuters) – A U.S. jury on Tuesday found a local unit of Canada’s Bank of Montreal (BMO) (BMO.TO) liable for over $550 million in damages over a Ponzi scheme operated by a Minnesota businessman, leading the bank to book a charge of C$1.12 billion ($834.2 million). Thomas Petters was found guilty in 2009 … Read more