By Stephanie Kelly NEW YORK (Reuters) – Oil prices fell more than 4% on Tuesday on concerns about whether the U.S. Congress will pass the U.S. debt ceiling pact and as mixed messages from major producers clouded the supply outlook ahead of the OPEC+ meeting this weekend. Brent crude futures settled down $3.53, or 4.6%,…
By Luc Cohen NEW YORK (Reuters) – U.S. prosecutors on Monday said they opposed a motion by former cryptocurrency billionaire Sam Bankman-Fried to dismiss criminal charges accusing him of stealing billions of dollars from customers to plug losses at his hedge fund. Bankman-Fried, the 31-year-old founder of FTX Trading, has pleaded not guilty in Manhattan…
BOGOTA (Reuters) – Colombia’s central bank could call time on its upward monetary cycle after inflation in Latin America’s fourth-largest economy slowed in May, bank board chief Leonardo Villar said on Tuesday. Villar also forecast high profits for the bank in 2023. The monetary authority has hiked its benchmark interest rate by 1,150 basis points…
By Caroline Valetkevitch NEW YORK (Reuters) – Short sellers in shares of Nvidia Corp were down $4.1 billion in mark-to-market losses in three trading days, according to financial data firm S3 Partners, as the chipmaker’s market capitalization hit $1 trillion on Tuesday. Nvidia’s shares were up about 31% combined over Thursday, Friday and trading so…
By Steve Scherer OTTAWA (Reuters) – Canada’s spy agency told former Canadian Conservative Party leader Erin O’Toole that China campaigned to discredit him and suppress votes ahead of the 2021 election he lost to Liberal Prime Minister Justin Trudeau, O’Toole said on Tuesday. In a briefing on Friday, the Canadian Security Intelligence Service (CSIS) informed…
By Moira Warburton and David Morgan WASHINGTON (Reuters) -Top congressional Republican Kevin McCarthy on Tuesday urged members of his party to support a bipartisan deal to lift the $31.4 trillion U.S. debt ceiling, ahead of a critical procedural vote. The gatekeeper House of Representatives Rules Committee is due to consider the 99-page bill beginning at…
By David Milliken LONDON (Reuters) – Britain’s highest inflation in four decades failed to boost company profits last year, with the exception of oil and gas extractors who benefited from a surge in energy prices, official figures showed on Tuesday. The average net rate of return on capital employed by British companies not involved in…
(Reuters) – Fifteen years after Kosovo declared independence, 50,000 minority Serbs in the north bordering Serbia refuse to recognise state institutions, receive pay and benefits from Serbia’s budget and pay no taxes either to Pristina or Belgrade. Unrest in the region has intensified more recently since ethnic Albanian mayors took office in northern Kosovo’s Serb-majority…
FRANKFURT (Reuters) – Euro zone bank lending slowed again in April, supporting the case for careful interest rate hikes in the months ahead as weak growth and surging borrowing costs are already denting demand for credit, European Central Bank data showed on Tuesday. The ECB has raised rates at the fastest pace on record over…
By Sam Tobin and Paul Sandle LONDON (Reuters) – Microsoft on Tuesday accused Britain’s anti-trust regulator of being a global “outlier” in blocking its $69 billion takeover of “Call of Duty” maker Activision Blizzard. The Competition and Markets Authority (CMA) vetoed the deal in April, saying it could hurt competition in the nascent cloud gaming…
