By Chibuike Oguh (Reuters) -Blackstone Inc on Tuesday said it had secured a $4 billion investment from the University of California in its unlisted real estate income trust (BREIT) that has been plagued by investor redemptions, after the private equity firm committed $1 billion to backstop the university’s returns in the fund. In an unprecedented…
By Jack Queen and Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges that he cheated investors in his now-bankrupt FTX cryptocurrency exchange, causing billions of dollars in losses in what prosecutors have called an epic fraud. The 30-year-old defendant entered his plea through his lawyer to eight criminal…
(Reuters) -Chipmaker Nvidia Corp and electronics manufacturer Foxconn announced a partnership on Tuesday to develop autonomous vehicle platforms. Taiwanese contract manufacturer Foxconn said it will manufacture electronic control units (ECUs) for cars based on Nvidia’s DRIVE Orin chip made specifically for computing in connected and autonomous vehicles. The ECUs will serve the global automotive market,…
(Reuters) – Apple Inc’s market capitalization slipped below $2 trillion on the first trading of 2023 as its stock fell nearly 4% following a rating downgrade due to production disruption in China. Apple was the first company to hit $3 trillion in market value on Jan. 3 last year. Exane BNP Paribas analyst Jerome Ramel…
By Amanda Cooper and Koh Gui Qing LONDON/NEW YORK (Reuters) -The dollar headed for its largest one-day rise in over three months on Tuesday, while U.S. stocks bucked a global equities rally in a macro-packed week that could offer a steer on when, and at what level, U.S. interest rates might peak. The MSCI All-World…
By Jonathan Stempel NEW YORK (Reuters) – Southwest Airlines has been sued by a passenger who said it failed to provide refunds to passengers left stranded when an operational meltdown led the carrier to cancel more than 15,000 flights late last month. In a proposed class action filed on Dec. 30 in New Orleans federal…
TORONTO (Reuters) – Canadian manufacturing activity contracted at a slightly faster rate in December as an uncertain economic outlook and high inflation undercut demand, while the recent trend of easing cost pressures reversed, data showed on Tuesday. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) fell to a seasonally adjusted 49.2 in December from…
By Shubham Batra and Amruta Khandekar (Reuters) -Wall Street’s main indexes were set to open higher on the first trading day of the year, with a slew of economic data on tap this week as well as the Federal Reserve’s meeting minutes that would provide more clues on the path of future interest rate hikes….
By Samuel Indyk LONDON (Reuters) – The euro was on track for its biggest one-day drop since September as German inflation eased in December, while the dollar rose to a two-week high with focus turning to the Federal Reserve’s minutes from the December meeting. The euro was last down around 1.3% against the dollar at…
By Supantha Mukherjee, Martin Coulter and Krystal Hu (Reuters) – Nic Szerman lost his job at Meta Platforms in November, just two months after joining full-time, falling victim to a sweeping 13% reduction of its workforce as the advertising market cratered. Days later he was back working, seeking investment for his own company Nulink, a…
