By Jonathan Stempel and Luc Cohen NEW YORK (Reuters) -The young entrepreneur Charlie Javice has been indicted on charges of defrauding JPMorgan Chase & Co, the largest U.S. bank, into buying her now-shuttered college financial aid startup Frank. A four-count grand jury indictment made public on Thursday in Manhattan federal court charges Javice with securities…
(Reuters) -Chip tools maker Applied Materials Inc forecast third-quarter revenue above market estimates on Thursday, as chipmakers expand production plans to meet a global shortage felt by electronics and auto manufacturers. Even though consumer-driven markets, including PCs and smartphones remain weak, demand from artificial intelligence and automotive sectors is giving Applied Materials the much-needed boost…
By Devayani Sathyan BENGALURU (Reuters) – The Reserve Bank of New Zealand will hike interest rates by a final quarter point on Wednesday then end its most aggressive tightening cycle since adopting the cash rate in 1999, according to a Reuters poll which then showed a pause until year-end. After surprising financial markets with a…
MEXICO CITY (Reuters) -The Bank of Mexico, in a unanimous decision by its five-member board, kept its benchmark interest rate steady at 11.25% on Thursday, ending a nearly two-year rate-hike cycle, and said it would keep the rate at that level for an extended period. The decision was in line with analysts’ expectations. To get…
By Timothy Aeppel CHICAGO (Reuters) -For Matthew Prange, it’s easy to see why the inflation surge of the last two years has proven so difficult for the Federal Reserve to tame. “When prices go up, it tends to stick,” said Prange, who oversees $3 billion worth of purchases of electronic parts, plastics, and metal as…
(Reuters) – More than 200 Russian athletes have been sanctioned following the ‘Operation LIMS’ investigation into Moscow’s anti-doping laboratory with more bans to come, the World Anti-Doping Agency said on Thursday. The suspensions are the result of data and samples retrieved by WADA’s Intelligence and Investigations team into the Moscow Laboratory Information Management System (LIMS)….
By Medha Singh (Reuters) – The New York Stock Exchange and the Nasdaq said on Thursday they would cancel erroneous trades in the shares of IT solutions provider CDW Corp, which briefly plunged as much as 96% to $7 in premarket trading. They would bust all trades in the stock between 04:00 a.m. ET and…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen reaffirmed the strength and soundness of the country’s banking system in a meeting with bank CEOs on Thursday, a Treasury Department statement said. During the meeting with more than two dozen CEOs and executives convened by the Bank Policy Institute, Yellen also discussed the “urgent need” for…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in U.S. Bankruptcy Court in Delaware targeting…
By Patricia Zengerle WASHINGTON (Reuters) – The chairman of the U.S. House of Representatives Foreign Affairs Committee said on Thursday he accepted the State Department’s invitation to view a classified cable related to the August 2021 withdrawal from Afghanistan and would “pause” attempts to enforce a subpoena to obtain it. “In light of this invitation,…
