By Marcela Ayres BRASILIA (Reuters) -Brazil’s incoming Finance Minister Fernando Haddad on Wednesday said fiscal expansion would not help the economy at the moment and the government needs to organize its finances to allow lower interest rates, tamping down fears of a public spending spree. His comments helped to calm market concerns about an explosion…
WASHINGTON (AP) — The government on Wednesday charged eight men of earning more than $100 million in illicit stock market profits by manipulating their novice-investor followers on social media. The Justice Department and the Securities and Exchange Commission said that from early 2020 to around April of this year the men, who had combined following…
(Fixes typographical error in Haworth quote in 22nd paragraph to make it “than” instead of “that”) NEW YORK (Reuters) – The Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth. The…
Whether increased regulation would have prevented the spectacular collapse of cryptocurrency exchange FTX was fiercely debated at a hearing of the Senate’s banking committee Wednesday. However, new legislation is potentially on the way. Sen. Elizabeth Warren announced at the hearing bipartisan legislation aimed at cracking down on cryptocurrencies being used in money laundering. The legislation,…
(Reuters) – Moldova plans to sue Russia’s Gazprom for failing to fulfill its obligations under a contract to supply gas, Germany’s Deutsche Welle agency cited a senior official as saying on Wednesday. “They simply ignore their obligations. And they will pay for it,” Deputy Prime Minister Andrei Spinu told the agency. (Reporting by David Ljunggren;…
NEW YORK (AP) — A unit of American International Group that played an outsized role in the 2008 global financial crises is nearing its official end. AIG said Wednesday in a filing with the U.S. Securities and Exchange Commission that its Financial Products unit has filed for Chapter 11 bankruptcy protection. Bad bets on mortgages…
Twitter has suspended an account that used publicly available flight data to track Elon Musk’s private jet, despite a pledge by the social media platform’s new owner to keep it up because of his free speech principles. Tweets from the widely followed @elonjet account were no longer viewable Wednesday. The account had more than 526,000…
By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) – The Biden administration plans to remove some Chinese entities from a red flag trade list, amid closer cooperation from Beijing, a U.S. official told Reuters on Wednesday. The plan to remove them from the so-called “unverified” list, which is expected to come soon, is thanks to…
By John McCrank NEW YORK (Reuters) – The U.S. Securities and Exchange Commission is set to vote on Wednesday on advancing rule proposals related to the handling and execution of stock orders that would represent the biggest changes to the equities markets in nearly two decades. SEC Chair Gary Gensler has said the changes would…
