By Selena Li and Vidya Ranganathan SINGAPORE (Reuters) – Regulators froze some assets of distressed cryptocurrency exchange FTX and industry peers raced to limit losses on Friday amid worsening solvency problems at the firm and heightened scrutiny of its chief executive, Sam Bankman-Fried. The week-long saga that began with a run on FTX, one of…
(Reuters) -Cryptocurrency exchange FTX stood on the brink of failure on Friday after a bailout from larger rival Binance collapsed and the chances of other rescue funding looked slim. Chief executive Sam Bankman-Fried said he was exploring all options for his firm. Here is a history of FTX since its foundation in 2019: 2019: May…
By Rozanna Latiff KUALA LUMPUR (Reuters) – Malaysia’s economy posted double-digit growth for the first time in over a year in the third quarter, boosted by rising domestic demand and strong exports, the central bank said on Friday. Gross domestic product (GDP) in July-September rose 14.2% from a year earlier, at a faster pace than…
By Angus Berwick and Anirban Sen (Reuters) – FTX is scrambling to raise about $9.4 billion from investors and rivals, a source said on Thursday, as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals. Bankman-Fried has discussed raising $1 billion each from…
By Mike Scarcella (Reuters) -A state court in Washington on Thursday said it will extend a temporary block that has prevented Albertsons Companies Inc from paying a $4 billion dividend to its shareholders before the grocery chain closes its proposed deal with rival Kroger Co. Judge Ken Schubert of King County Superior Court set a…
SACRAMENTO, Calif. (AP) — California regulators on Thursday proposed changes to the state’s residential solar market designed to encourage more at-home battery systems that can help the electrical grid rely less on fossil fuels in the evenings, especially during heat waves. It’s the California Public Utilities Commission’s second attempt at updating the state’s incentive program…
By Katie Paul and Paresh Dave (Reuters) -Twitter’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. regulator and departures of senior executives viewed as future leaders. The billionaire told Twitter employees on a call that that…
WASHINGTON (Reuters) – Airlines in the United States canceled more than 1,350 flights on Thursday as Tropical Storm Nicole made landfall on the east coast of Florida, forcing airports in the region to shut. Delta Air Lines, American Airlines, Spirit Airlines and Southwest Airlines canceled more than 150 flights each, while United Airlines called off…
SANTIAGO (Reuters) -Chilean retailer Cencosud on Thursday posted a 48% drop in its third-quarter profit, the company said in a statement, as it faces rising consumer prices across the region. Cencosud’s net profit in the July to September period totaled 72.97 billion pesos ($81 million), down by nearly half from its 141.3 billion peso profit…
KYIV (Reuters) – On a crisp and sunny November morning, Ukrainian farmers lined up to collect U.N.-supplied grain sleeves to store crops over winter as the country faces a significant shortage of storing capacity caused by Russian shelling. Ukraine has said it may lack up to 15 million tonnes of regular grain storage capacity this…
