By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar struggled to gain a foothold on Wednesday after a sharp dive overnight on cooler-than-expected inflation data, which fuelled expectations that the Federal Reserve will chart a slower rate hike path later in the day. After delivering four consecutive 75 basis points hikes, the U.S. central bank…
WASHINGTON (AP) — The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. But it announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing. The Fed…
By Sonali Paul and Emily Chow SINGAPORE (Reuters) – Oil prices fell in early trade on Wednesday after industry data showed a surprise build in U.S. crude inventories against analysts’ forecast of a decline, reinforcing fears about weakening demand even as supply tightens. Brent crude futures dropped 19 cents, or 0.2%, to $80.49 per barrel,…
By Katie Paul (Reuters) – A new lawsuit has accused Meta Platforms of enabling violent and hateful posts from Ethiopia to flourish on Facebook, inflaming the country’s bloody civil war. The lawsuit, filed in Kenya on Tuesday, was brought by two Ethiopian researchers and Kenyan rights group the Katiba Institute. It alleges Facebook’s recommendations systems…
By Jared Higgs, Luc Cohen and Chris Prentice NASSAU, Bahamas/NEW YORK (Reuters) -A Bahamian judge denied FTX founder Sam Bankman-Fried bail on Tuesday, hours after U.S. prosecutors accused the 30-year-old of misappropriating billions of dollars and violating campaign laws in what has been described as one of America’s biggest financial frauds. The former CEO of…
By Jared Higgs, Luc Cohen and Chris Prentice NASSAU, Bahamas/NEW YORK (Reuters) – U.S. prosecutors on Tuesday accused Sam Bankman-Fried, the founder of crypto currency exchange FTX, of fraud and violating campaign finance laws and a judge in the Bahamas denied him bail, sending him to a local correctional facility instead. The former FTX CEO,…
By Alison Frankel (Reuters) – Federal prosecutors and regulators from the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission all told a similar story on Tuesday about Sam Bankman-Fried’s alleged scheme to divert billions of dollars of customers’ money from the FTX crypto exchange to Alameda Research LLC. They all accused Bankman-Fried…
SYDNEY (Reuters) – Australia’s central bank wants mobile wallet providers to offer least cost routing options for merchants by the end of 2024, under new regulatory powers set to be granted by the government. In a speech on the payments system, Reserve Bank of Australia (RBA) Governor Philip Lowe said merchants should have the option…
TOPEKA, Kan. (AP) — The company operating a pipeline that spilled about 14,000 bathtubs’ worth of oil into a Kansas creek during a test for potential problems is recovering at least a small portion of the crude. The U.S. Environmental Protection Agency said Tuesday that Canada-based TC Energy has recovered 2,598 barrels of oil mixed…
DETROIT (AP) — A large study by U.S. highway safety regulators found that more than half the people injured or killed in traffic crashes had one or more drugs, or alcohol, in their bloodstreams. Also, just over 54% of injured drivers had drugs or alcohol in their systems, with tetrahydrocannabinol (THC), an active ingredient in…
