(Reuters) – The lending unit of crypto firm Genesis filed on Thursday for U.S. bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi. Genesis Global Capital, one of the largest crypto lenders, froze customer redemptions on Nov. 16 after FTX stunned the financial world with…
By Sudarshan Varadhan (Reuters) – Oil prices were set to post a second straight week of gains on Friday, spurred largely by brightening economic prospects for China which should boost its fuel demand. Brent futures for March delivery gained 30 cents, or 0.35%, to $86.46 a barrel by 0317 GMT, while U.S. crude advanced 49…
By Kevin Buckland TOKYO (Reuters) – Most Asian equity markets edged higher on Friday, while the U.S. dollar hung near its weakest level since May, with investors fretting about the risks of a global recession as the Federal Reserve presses on with interest rate increases. U.S. Treasury yields remained elevated in Tokyo after bouncing off…
By Arathy Somasekhar (Reuters) – Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand. Brent futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per…
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Netflix Inc co-founder Reed Hastings stepped down as chief executive of the company that upended Hollywood by delivering movies and TV shows online, handing the reins to longtime partner and co-CEO Ted Sarandos and chief operating officer Greg Peters. Shares of Netflix rose 6.1% to $335.05…
By Takahiko Wada and Leika Kihara TOKYO (Reuters) – Japan’s core consumer prices in December rose 4.0% from a year earlier, double the central bank’s 2% target and hitting a fresh 41-year high, data showed on Friday, adding to recent growing signs of mounting inflationary pressure. The data will likely keep alive market expectations that…
By Victoria Waldersee HALLE, Germany (Reuters) – Tesla’s German Gruenheide plant still has some ramping up to do, the economy minister of the state the factory is located in said on Thursday, adding that production should be sped up somewhat to reduce customer waiting times. “That has to grow up a bit more,” Brandenburg’s Economy…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Japanese inflation grabs the spotlight in Asia on Friday, with investors looking for clues on what the Bank of Japan (BOJ) might do at its next policy meeting after surprising markets this week by standing pat on policy….
By Jessica DiNapoli and Uday Sampath Kumar (Reuters) – Tide detergent maker Procter & Gamble Co raised its full-year sales forecast on Thursday and said it plans to continue raising prices despite a drop in sales volumes, warning that high commodity costs were pressuring profits. P&G’s sales volumes fell 6% in its second quarter ended…
By Jessica DiNapoli and Richa Naidu NEW YORK/LONDON (Reuters) – Top advertisers on Twitter slashed their spending after Elon Musk’s takeover, according to estimates compiled for Reuters by research firm Pathmatics, in the latest shock to the company’s dominant revenue source. Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform…
