By Pete Schroeder WASHINGTON (Reuters) – The U.S. dollar hit its highest levels in more than a month on Monday amid worries over China’s economy, while Wall Street struggled for any clear picture ahead of fresh data on consumer appetite. The dollar index, which tracks the greenback versus a basket of six currencies, was last…
By Dietrich Knauth NEW YORK (Reuters) – Crypto lender Celsius Network on Monday received a U.S. bankruptcy judge’s permission to seek creditor approval for its bankruptcy plan, advancing a proposal to exit Chapter 11 as a new entity owned by its creditors. Judge Martin Glenn signed off on Celsius’s disclosure statement and solicitation materials at…
By Jonathan Stempel (Reuters) – Kellogg and its Kashi unit have defeated appeals seeking to revive two proposed class actions accusing them of deceiving consumers about the protein content of their products. In a 3-0 decision on Monday, the 9th U.S. Circuit Court of Appeals in San Francisco agreed with a lower court judge that…
By Bhanvi Satija and Pratik Jain (Reuters) -The U.S. Food and Drug Administration on Monday granted accelerated approval to Pfizer’s therapy for treating patients with a type of blood cancer that is difficult to treat, the company said. The health regulator’s decision allows use of the therapy, branded as Elrexfio, in patients with multiple myeloma…
By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried will prepare for his fraud trial from a Brooklyn jail where inmates ranging from convicted sex trafficker Ghislaine Maxwell to Honduras’ former president have complained of subpar conditions. U.S. District Judge Lewis Kaplan in Manhattan ruled on Friday that Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX,…
By David Randall NEW YORK (Reuters) – Basswood Capital, Adage Capital Partners and Paul Tudor Jones’ Tudor Investment Corp were among the hedge funds that took new positions in real estate investment trusts that specialize in New York City office space last quarter, despite questions over how long work-from-home policies will weigh on the market,…
By Carolina Mandl NEW YORK (Reuters) – U.S.-based hedge fund investors including Coatue, D1 Capital and Tiger Global cut their exposure to Chinese companies in the second quarter, as the country’s economic prospects seemed to wobble and geopolitical tension increased. Tiger Global slashed its position in JD.com by roughly 12%, to $719.3 million from $1.1…
By Jonathan Stempel (Reuters) -A unit of the Experian credit reporting bureau agreed to pay a $650,000 civil fine to settle U.S. Federal Trade Commission charges it spammed consumers with marketing emails without giving them a way to opt out. The FTC said ConsumerInfo.com, also known as Experian Consumer Services, sent the emails after consumers…
(Reuters) -Esmark, a privately held company, said on Monday it had made an offer to buy U.S. Steel Corp for $35 per share, or an equity value of $7.8 billion. On Sunday, U.S. Steel launched a formal review of strategic options, after rebuffing a takeover offer from rival steelmaker Cleveland-Cliffs. The unsolicited cash-and-stock offer from…
(Reuters) -Hawaiian Electric Industries’ shares plunged nearly 40% to a 13-year low in early trading on Monday amid growing scrutiny over whether the utility company’s equipment played any role in the deadly wildfires that burnt through the coastal Maui town of Lahaina. Shares of the company hit $18.70, the lowest level since February 2010, just…
