(Reuters) – FTX founder and former Chief Executive Sam Bankman-Fried said he expanded his business too fast and failed to notice signs of trouble at the exchange, whose downfall sent shock waves through the crypto industry, the New York Times reported late on Monday. “Had I been a bit more concentrated on what I was…
By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s economy unexpectedly shrank in the third quarter, the first contraction in a year as cooling global growth and higher import costs took a toll on household consumption and business activity. Soaring global inflation and recession risks as well as a weak Japanese yen and sweeping interest rate increases worldwide…
WASHINGTON (AP) — The top U.S. banking regulator at the Federal Reserve is urging Congress to pass legislation that would impose regulation on crypto currencies in the wake of the swift collapse last week of FTX, a leading crypto exchange. Michael Barr, the Fed’s vice chair for supervision, said in prepared testimony released Monday that…
Frontier Airlines and five foreign carriers have agreed to refund more than $600 million combined to travelers whose trips were canceled or significantly delayed since the start of the pandemic, federal officials said Monday. The U.S. Department of Transportation said it also fined the same airlines more than $7 million for delaying refunds so long…
By David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Department said Monday that six airlines will pay $7.25 million in total fines and agreed to issue $622 million in passenger refunds as the agency vows to aggressively enforce consumer protections. The enforcement actions helped ensure the six carriers paid required refunds “to hundreds of thousands…
By Jonathan Stempel (Reuters) -Berkshire Hathaway Inc said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing Co , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. In a Monday regulatory filing describing its U.S.-listed equity investments as of Sept. 30, Berkshire said it owned about 60.1…
OMAHA, Neb. (AP) — A third railroad union has rejected its agreement with the nation’s freight railroads, increasing the chances that Congress may be called upon to settle the dispute and block a strike. The small International Brotherhood of Boilermakers union on Monday voted down the contract even though it includes the biggest raises workers…
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Monday it has charged S&P Global Ratings with conflict of interest violations. The watchdog said in a statement that S&P Global Ratings had violated conflict of interest rules designed to prevent sales and marketing considerations from influencing credit ratings. (Reporting by Chris Gallagher; editing…
By Laura Sanicola (Reuters) -Oil prices settled around $3 lower on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer. Brent crude futures settled down $2.85, or 3%, at $93.14 a barrel after gaining 1.1%…
NEW YORK (AP) — Megadonor and novelist MacKenzie Scott announced almost $2 billion in donations to 343 organizations in a short blog post Monday, emphasizing her interest in supporting people from underserved communities. In her first post in nearly eight months, Scott showcased her donations to numerous funds as a “great resource” for giving. “They…
