By Selena Li, Tom Westbrook and Elizabeth Howcroft SINGAPORE/LONDON/NEW YORK (Reuters) – Investors fretted on Wednesday about the financial health of major cryptocurrency exchange FTX with some questioning whether a rescue deal from bigger rival Binance would materialize, while the firm was reported to be part of a regulatory probe. Bloomberg on Wednesday reported that…
By Uday Sampath Kumar (Reuters) -Kohl’s Corp boss Michelle Gass is leaving to take the helm at Levi Strauss & Co amid renewed calls from activist investors for management changes at the struggling department store chain. Kohl’s said it would install Tom Kingsbury, a director nominated by hedge funds Macellum Advisors and Ancora Holdings, as…
(Reuters) -Roblox Corp reported a larger-than-expected quarterly loss on Wednesday, as the gaming platform spent more on hiring and its infrastructure, overshadowing solid user growth and sending its shares down 17%. Growth has been slowing in the videogame sector this year as more people step outdoors and reserve spending for essential items in the face…
WASHINGTON (AP) — Online real estate broker Redfin is cutting 862 employees and shutting down its instant-cash-offer subsidiary RedfinNow, another casualty of two-decade high interest rates stoked by the Federal Reserve’s fight against inflation. The job cuts amount to 13% of Redfin’s workforce, the company announced in a regulatory filing. Redfin also laid off 470…
By Selena Li, Tom Westbrook and Elizabeth Howcroft SINGAPORE/LONDON (Reuters) -Cryptocurrencies saw a second day of sharp declines on Wednesday, as investors continued to fret about the stability of the sector and the financial health of major exchange FTX despite plans for a rescue deal from bigger rival Binance. Crypto giant Binance signed a nonbinding…
NEW YORK (AP) — Cryptocurrency prices plunged for a second-straight day after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading. Bitcoin sank to a two-year low after Binance confirmed earlier rumors and news reports that it was ready to back out of the FTX deal, struck…
BERLIN (AP) — The German government’s panel of independent economic advisers forecast Wednesday that Europe’s biggest economy will shrink by 0.2% next year. The five-member panel’s report came after official figures late last month showed unexpected growth in the third quarter, thanks to private spending. But a weak winter, with gross domestic product declining in…
BRUSSELS (AP) — The European Union is considering more lenient economic recovery proposals that veer away from the grinding, top-down austerity rules that hit Greece and several other countries during the debt crises a decade ago and helped push millions into poverty, homelessness and unemployment. The European Commission, the EU’s executive arm, said Wednesday that…
(Reuters) – Roblox Corp on Wednesday reported a bigger loss than expected, sending shares down 14% in premarket trading. The company’s revenue grew 2% to $517.7 million in the third quarter ended Sept. 30. Roblox changed the period of estimated paying user life to 28 months from 25 months, resulting in a $111 million decrease…
By Rod Nickel and Arunima Kumar (Reuters) -North American oil and gas pipeline company TC Energy Corp reported an 8% rise in quarterly profit on Wednesday and said it was looking to sell C$5 billion ($3.7 billion) worth of assets to repay debt and fund new projects. Canada, the world’s fourth-largest crude producer, has been…
