By Jonathan Stempel NEW YORK (Reuters) – Sam Bankman-Fried is expected to enter a plea next week to criminal charges he defrauded investors and looted billions of dollars in customer funds at his failed FTX cryptocurrency exchange. The 30-year-old is expected to be arraigned on the afternoon of Jan. 3, 2023, before U.S. District Judge…
By Sabrina Valle (Reuters) – U.S. oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this year by oil companies benefiting from high energy prices have…
PANAMA CITY (Reuters) -Canada’s First Quantum Minerals Ltd said on Wednesday its flagship Cobre Panama copper mine was running as normal and talks have resumed with the Panama government to solve a dispute over the miner’s operations. Both First Quantum and the government said on Wednesday that talks were underway, confirming previous Reuters reporting. On…
By Sinéad Carew NEW YORK (Reuters) – Global equities edged lower on Wednesday while oil prices tumbled as investors weighed their enthusiasm about the potential economic boost from China lifting COVID restrictions with concerns about rising infections there. The yield on the benchmark U.S. 10-year Treasury dipped before turning higher in a choppy session after…
(Reuters) -Amazon.com Inc is working on a standalone app for watching sports content, the Information reported on Wednesday, citing a source with direct knowledge of the plan. The move comes as Chief Executive Andy Jassy doubles down on the company’s streaming ambitions, the report said, even as Amazon reviews unprofitable businesses and cuts roles in…
By Amruta Khandekar and Ankika Biswas (Reuters) -Wall Street’s main indexes were set to open higher on Wednesday on optimism around the unwinding of pandemic restrictions by China, though a surge in COVID cases in the world’s second largest economy kept investors on edge. Beijing began dismantling its strict COVID curbs this month in an…
By Alexander Marrow MOSCOW (Reuters) -The rouble weakened sharply on Wednesday, sliding to the 72 mark against the dollar, as sanctions on Russian oil and their probable impact on export revenues put pressure on the Russian currency. The rouble lost about 8% against the dollar last week and is on course for a hefty monthly…
By Naomi Rovnick and Ankur Banerjee SINGAPORE, LONDON (Reuters) -Global equities traded sideways on Wednesday after enthusiasm about China lifting COVID restrictions was tempered by rising infections and investors’ gloomy outlook for Western economies. MSCI’s broadest index of global stocks was flat as investors stayed on the sidelines at the end of a brutal year…
ZURICH (Reuters) – ABB has completed the sale of its remaining 19.9% stake in the power grids business it sold to Hitachi, the Swiss engineering and technology group said on Wednesday. Hitachi has exercised a call option that was agreed when it bought 80.1% of the business – now called Hitachi Energy – in December…
By Kevin Buckland and Amanda Cooper LONDON/TOKYO (Reuters) – The dollar touched its highest in over a week against the yen on Wednesday, boosted by a jump in Treasury yields and by anticipation among investors of a rebound in Chinese growth as COVID-19 curbs loosen. The yen also came under pressure after the Bank of…
