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…
BRUSSELS (AP) — Disappointment has set in two years after the election of U.S. President Joe Biden was supposed to reset trans-Atlantic relations with the European Union. EU leaders are openly talking about fights, not only friendship. They say conflict with Washington is the last thing they want, with war raging on their doorstep in…
(Reuters) – U.S. crude stocks, gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 10.2 million barrels in the week ended Dec. 9 to 424.1 million barrels, compared with analysts’ expectations in a Reuters poll for a 3.6 million-barrel drop. Crude stocks at…
By Shubham Batra and Ankika Biswas (Reuters) – Wall Street’s main stock indexes were set for a subdued open on Wednesday as investors exercised caution ahead of the much-anticipated interest rate decision by the Federal Reserve later in the day. The central bank is widely expected to hike the fed-funds rate by half a percentage…
(Reuters) – Facebook parent Meta Platforms Inc implemented more recommendations from its oversight board in the third quarter than the second, the independent body said on Wednesday. The oversight board received more than a quarter of a million appeals from Facebook and Instagram users around the world during the quarter ended Sept. 30. The panel,…
