NEW YORK (AP) — Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. Now the comments about the 30-year-old Bankman-Fried aren’t so kind after FTX filed for bankruptcy protection Friday,…
WASHINGTON (Reuters) – The U.S. Federal Reserve may consider slowing the pace of rate increases at its next meeting but that should not be seen as a “softening” in its commitment to lower inflation, Federal Reserve Gov. Christopher Waller said on Sunday. Markets should now pay attention to the “endpoint” of rate increases, not the…
WASHINGTON (Reuters) – The Fed may consider slowing the pace of rate increases at its next meeting but that should not be seen as a “softening” of its battle against inflation, Federal Reserve Gov. Christopher Waller said on Sunday. Waller said markets should now pay attention to the “endpoint” of rate increases, not the pace…
LONDON (Reuters) -German military equipment manufacturer Rheinmetall said on Sunday it has agreed a deal to acquire Spanish explosives and ammunition maker Expal Systems for an enterprise value of 1.2 billion euros ($1.24 billion). Expal is a subsidiary of Spanish company Maxam, owned by private equity firm Rhone Capital. The deal, expected to close in…
By Rodrigo Campos and Ira Iosebashvili (Reuters) – A stronger-than-expected showing by Democrats in the U.S. midterm elections may force investors to rethink the split government scenario many had expected. Democrats held onto control of the U.S. Senate, extinguishing hopes of the “red wave” that Republicans had expected leading into the midterm elections. Republicans remain…
(Reuters) – Twitter’s billionaire owner Elon Musk on Sunday said that Twitter will soon enable organizations to identify twitter accounts associated with them as the new Twitter owner continues to find ways to limit fake accounts on the platform. “Rolling out soon,” Musk in a tweet on Sunday said. “Twitter will enable organizations to identify…
(Reuters) -The collapse of FTX is the subject of scrutiny from investigators in the Bahamas, who are looking at whether any “criminal misconduct occurred,” the Royal Bahamas Police said on Sunday. FTX filed for bankruptcy on Friday, one of the highestprofile crypto blowups, after traders rushed to withdraw $6billion from the platform in just 72…
NEW YORK (AP) — Holiday celebrants in Hilo, Hawaii, might notice something different about the traditional Yule Log cake from the Short ’N Sweet bakery this year. Maria Short typically makes her popular $35 bûche de Noël with two logs combined to look like a branch. This year, thanks to soaring prices for eggs and…
PRAGUE (Reuters) – The Czech National Bank is unlikely to have to intervene in currency markets as much as it has in recent months when pressure against the crown was strong, Vice-Governor Eva Zamrazilova said on Sunday. The central bank has intervened to prop up the crown since May as part of efforts to fight…
By Lewis Krauskopf NEW YORK (Reuters) -Hopes that inflation is subsiding are fueling a surge in battered technology and megacap stocks, though some investors believe still-high valuations and doubts over the companies’ earnings outlooks may make a sustained reversal elusive. The tech-heavy Nasdaq Composite index rose 8.1% this week to notch its biggest weekly gain…
