By Akash Sriram (Reuters) -Shares of Lucid Group Inc fell over 11% on Tuesday after the luxury electric vehicle maker said it had 3,000 fewer reservations in the third quarter amid an uncertain macroeconomic environment and as borrowing costs rise. The company said it had over 34,000 reservations in the quarter, down from 37,000 in…
By Hannah Lang and Tom Wilson WASHINGTON/LONDON (Reuters) -Crypto giant Binance signed a nonbinding agreement on Tuesday to buy FTX’s non-U.S. unit to help cover a “liquidity crunch” at the rival exchange, marking an abrupt change in fortune for the digital currency billionaire and FTX CEO Sam Bankman-Fried. The surprising deal between high-profile rivals Bankman-Fried…
(Reuters) – New Zealand’s Fonterra said on Wednesday it has appointed Neil Beaumont as its chief financial officer, replacing Marc Rivers who resigned earlier this year. The appointment will take effect from early February 2023, the Auckland-based dairy firm added. (Reporting by Roushni Nair in Bengaluru; Editing by Shailesh Kuber)
By Hannah Lang and Tom Wilson WASHINGTON/LONDON (Reuters) -Binance, the world’s largest cryptocurrency exchange, has signed a nonbinding agreement to buy FTX.com, a unit of major rival FTX, to help cover a “liquidity crunch” at the cryptocurrency exchange, Binance CEO Changpeng Zhao said on Tuesday. FTX has come under pressure after Zhao said on Sunday…
NEW YORK (AP) — The cryptocurrency exchange Binance said it plans to buy its rival FTX Trading, in the latest example of how fortunes can change rapidly in the crypto world. Binance CEO Changpeng Zhao said on Twitter Tuesday that his company had signed a letter of intent to buy FTX because the smaller exchange…
BRUSSELS (AP) — The European Union has launched an investigation into Microsoft’s planned takeover of video game giant Activision Blizzard, fearing the $69 billion deal would distort fair competition to popular titles like Call of Duty. Microsoft, maker of the Xbox gaming system, first announced the agreement to buy the California-based game publisher in January,…
(Reuters) – More consumers opted for credit cards and unsecured loans in the third-quarter from a year earlier amid decades-high inflation, according to a report on Tuesday from global credit rating firm TransUnion. While delinquencies for most credit products are treading in line with pre-pandemic levels, they have risen in comparison to levels seen in…
BERLIN (AP) — The German government may decide this week to block the sale of a chip factory to a Swedish subsidiary of a Chinese company, following a recent compromise over a Chinese shipping firm’s investment in a German container terminal. German company Elmos said late Monday that it was informed by the Economy Ministry…
NEW YORK (AP) — Michelle Gass, CEO of department store chain Kohl’s, is stepping down from her role early next month and will become the president of denim giant Levi Strauss & Co. Levi’s said Tuesday in a release that Gass will start on Jan. 2, and the board of directors has put in motion…
BERLIN (AP) — Adidas has appointed Bjørn Gulden, the CEO of rival Puma, as its new chief executive, and he will take over the German sportswear brand in January as the company weathers the fallout from its split with the rapper formerly known as Kanye West. Gulden will replace Kasper Rorsted, Adidas’ CEO since 2016,…
