By Tom Wilson LONDON (Reuters) – Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received around $11 billion of client assets through a Seychelles-based firm set up to take customer deposits, a U.S. Securities and Exchange Commission filing shows. The SEC filing, which on Tuesday asked a U.S. court to freeze…
By Sinéad Carew (Reuters) – Shares in Amazon.com closed down 4.2% on Wednesday, leading declines in the S&P 500 consumer discretionary sector while video streaming companies Warner Bros Discovery and Paramount Global rallied. Amazon shares deepened losses after a Wall Street Journal report said the online retailer and video streamer is planning an advertising-supported tier…
By Jody Godoy (Reuters) -Determining whether digital tokens are securities will be central to the high-stakes case brought by U.S. regulators alleging crypto platforms Coinbase and Binance violated the law by failing to register as a securities exchange, broker and clearing agency. WHAT IS THE SEC ALLEGING? The Securities and Exchange Commission (SEC) sued Coinbase…
By Anthony Boadle BRASILIA (Reuters) – A Brazilian Supreme Court justice on Wednesday asked for more time to study a case pitting the country’s Indigenous people against its powerful farm sector, a decision that is likely to give lawmakers more time to pass the measure favoring Big Agriculture. The decision by Justice Andre Mendonca, an…
(Reuters) – GameStop posted its fourth consecutive fall in quarterly revenue on Wednesday and missed market estimates, as consumers dialed back non-essential spending in an uncertain economy. The company reported revenue of $1.24 billion for the quarter ended April 29, compared with analysts’ average estimate of $1.36 billion, according to Refinitiv. (Reporting by Samrhitha Arunasalam…
By Leah Douglas (Reuters) – U.S. Democrat and Republican lawmakers in a Wednesday hearing returned to the issue of work requirements for federal food aid, a major tension point during the U.S. debt negotiations that could resurface as policymakers consider critical farm legislation in the coming months. Currently, individuals aged 18 to 49 are required…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) -Conservative U.S. Supreme Court Justice Clarence Thomas, under scrutiny following revelations that he did not disclose luxury trips paid for by a billionaire Dallas businessman, has received an extension to file his mandatory annual financial disclosure, the court said on Wednesday. Seven of the nine justices disclosed…
By Doyinsola Oladipo NEW YORK (Reuters) -Hotel room rates in the U.S. and Europe are rising and may get even more expensive as supply has failed to keep up with demand, industry executives said. U.S. hotel room supply is barely growing as tighter lending standards from regional banks make it harder for developers to secure…
BOGOTA (Reuters) – Colombia’s congress should approve health, labor and pension reforms, President Gustavo Petro said on Wednesday, as the lower house weighed whether to shelve the health bill, which would be a major legislative defeat for leftist who campaigned on improving the beleaguered system. “We ask, with all due respect…that they approve the reforms,…
WASHINGTON (Reuters) -Britain wants to put its economic ties with the United States on the same footing as the two countries’ defence and security cooperation to help both counter global threats, Prime Minister Rishi Sunak will tell President Joe Biden this week. Having left the European Union, Britain is seeking to further align itself with…
