By Dietrich Knauth (Reuters) – The U.S. Department of Justice’s bankruptcy watchdog on Thursday appointed a committee to represent FTX accountholders and other junior creditors in the collapsed crypto exchange’s bankruptcy case. The committee – which includes a mix of individual account holders, investment funds, and an affiliate of U.S. crypto firm Genesis – will…
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank eased the pace of its interest rate hikes on Thursday but stressed significant tightening remained ahead and laid out plans to drain cash from the financial system as part of a dogged fight against runaway inflation. After being wrong-footed by sudden price…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Fidelity National Information Services on Thursday said it will undertake a strategic review and add a new director to its board after pressure from hedge fund D.E. Shaw Group. FIS also said it would speed up management changes, with Stephanie Ferris, who was scheduled to become CEO in January,…
By Richa Naidu and Jessica DiNapoli LONDON (Reuters) -Unilever said on Thursday that its litigation with the independent board of Ben & Jerry’s over the sale of its Israeli ice cream business has “been resolved”. The company did not provide details of how the litigation had been resolved. Unilever in June sold its Ben &…
WASHINGTON (AP) — The average long-term U.S. mortgage rate declined for the fifth straight week, even as the Federal Reserve just raised its key borrowing rate for the seventh time this year and signaled there were more to come in 2023. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate…
NEW YORK (AP) — CES, the annual tech industry event formerly known as the Consumer Electronics Show, is returning to Las Vegas this January with the hope that it looks more like it did before the coronavirus pandemic. The show changed its name to CES to better reflect the changing industry and the event, which…
By Karen Brettell NEW YORK (Reuters) – The euro fell on Thursday as investors took profits from a brief surge in the currency after European Central Bank President Christine Lagarde said more interest rate hikes are needed to tame inflation. The dollar was also boosted by worsening risk appetite as stocks fell. The ECB raised…
WASHINGTON (AP) — For the economy, 2022 was a throwback year. And not in a good way. At times, it felt like the 1970s or early ’80s. Inflation running rampant. The United States and its European allies engaged in a not-so-Cold War with Russia. A bleak outlook leaving people feeling sour and anxious. It wasn’t…
By Yoruk Bahceli (Reuters) -The European Central Bank said on Thursday it would start reducing its 5 trillion euros’ ($5.3 trillion) worth of bond holdings from March, in its next step towards tighter policy as it battles decades-high inflation. It also raised its main interest rates by another 50 basis points each. The central bank…
WASHINGTON (Reuters) – The United States on Thursday targeted Russia’s financial services sector and Russian businessman Vladimir Potanin as Washington increases pressure on Moscow over its invasion of Ukraine. The U.S. State Department imposed sanctions on Potanin, one of Russia’s richest men, and people associated with him, the Treasury Department said in a statement. The…
