LONDON (Reuters) – The cost of insuring exposure to debt issued by Swiss lender UBS rose to a decade high on Monday after peer Credit Suisse was caught in the market spotlight amid concerns about its ability to revamp its business and bolster its capital. UBS five-year credit default swaps (CDS) rose 12 basis points…
By Nate Raymond WASHINGTON (Reuters) – The U.S. Supreme Court on Monday agreed to hear Turkish state-owned lender Halkbank’s bid to avoid criminal charges of money laundering, bank fraud and conspiracy for allegedly helping Iran evade economic sanctions in a case that has strained American relations with NATO ally Turkey. The justices took up Halkbank’s…
BERLIN (AP) — The leaders of Hungary, Austria and Serbia met Monday in Budapest to find solutions on how to stem the increasing number of migrants arriving in Europe, among them many young men from India. The three leaders agreed to take joint action to control the new arrivals along the migration route that leads…
(Reuters) – General Motors Co reported a rise in quarterly U.S. auto sales on Monday, as pent-up consumer demand from the pandemic boosted sales volume. The U.S. automaker said third-quarter sales rose 24% to 555,580 vehicles, compared with a year earlier. GM said it plans to increase calendar-year production of both Chevrolet Bolt EV and…
NEW YORK (AP) — Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report issued Monday by the office of Sen. Elizabeth Warren, giving the public its first glimpse into the growing problems at Zelle. The report also found that the large banks that partly…
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear an appeal by two former Platinum Partners executives of their conviction on charges that they defrauded bondholders of one of the defunct hedge fund’s portfolio companies as they seek a new trial. The justices turned away an appeal by Platinum co-founder Mark Nordlicht…
WARSAW, Poland (AP) — Jerzy Urban, a spokesman for Poland’s communist-era government in the 1980s who masterminded state propaganda and censorship for the regime in the final years before its collapse, has died. He was 89. His death was announced on Monday by a satirical weekly magazine, “NIE” (Polish for “No”), which Urban founded and…
BRUSSELS (AP) — The European Union and Israel on Monday held high-level talks for the first time in a decade, with the Europeans pressing Israeli Prime Minister Yair Lapid about how to put a two-state solution to the conflict with the Palestinians into place. EU foreign policy chief Josep Borrell welcomed the recent support from…
MILAN (Reuters) – Ferrari has no evidence of a breach of its systems or ransomware, the luxury sports car maker said in a statement on Monday, adding that there had been no disruption to its business and operations. Earlier on Monday, Italian media reported that the company had been victim of a cyber attack and…
The long list of celebrities promoting cryptocurrencies just got shorter. Kim Kardashian is being barred from doing so for three years — and will pay a $1 million fine — to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear that she was paid to do…
