By David French (Reuters) – The S&P 500 and the Nasdaq Composite fell on Friday and posted their second straight weekly losses, as hotter-than-expected U.S. producer prices data pushed Treasury yields higher and sank rate-sensitive megacap growth stocks. The Dow Jones Industrial Average closed higher for the day and ended the week up 0.6%. It…
By Luc Cohen and Jody Godoy NEW YORK (Reuters) -Sam Bankman-Fried is heading to jail after a U.S judge on Friday revoked his bail, finding probable cause that the indicted founder of the bankrupt FTX cryptocurrency exchange tampered with witnesses at least twice. U.S. District Judge Lewis Kaplan’s decision to jail the 31-year-old former billionaire…
WASHINGTON (Reuters) -The U.S. on Friday imposed new sanctions on four Russians linked to financial and investment conglomerate Alfa Group and a Russian business association, the latest measures targeting Moscow’s financial elite over the war in Ukraine. The Treasury Department said it was targeting four men who have served on Alfa’s supervisory board – Petr…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Several prominent investors including hedge fund Baupost Group and mutual fund giant Fidelity bought or increased their holdings in retailer Amazon.com during the second quarter as its stock surge helped fuel Wall Street’s rally. Baupost Group owned 963,946 shares in Amazon on June 30, according to a regulatory…
By Tom Hals and Jody Godoy WILMINGTON, Delaware (Reuters) – A Delaware judge approved AMC Entertainment’s revised stockholder settlement on Friday, three weeks after the judge rejected a related deal by the cinema operator. The ruling sent the shares of the company’s preferred stock soaring 27%. The company’s common stock fell 27%. AMC has…
By Boureima Balima and Felix Onuah NIAMEY (Reuters) -Thousands of people gathered in Niger’s capital on Friday to demonstrate in favour of last month’s coup as regional leaders were considering military intervention to restore civilian rule. Since the July 26 military ouster of elected President Mohamed Bazoum, many Nigeriens have joined junta-organised rallies to show…
By David Shepardson WASHINGTON (Reuters) -The U.S. and China will approve twice the number of passenger flights currently permitted for air carriers to fly between the two countries, the Biden administration said on Friday, in a rare sign of cooperation between the world’s largest two economies. The U.S. Transportation Department (USDOT) said it would will…
(Reuters) -Fox Corp said on Friday that Chief Legal Officer Viet Dinh was stepping down, a high-profile exit that follows its $787.5 million settlement in April of a defamation lawsuit filed by Dominion Voting Systems over its 2020 U.S. election coverage. Dinh, who will exit the role at the end of 2023, joined Fox in…
By Bianca Flowers CHICAGO (Reuters) – U.S. Vice President Kamala Harris jumped into another divisive American issue ahead of the 2024 re-election campaign on Friday, vowing support for activists trying to end gun violence and accusing gun law opponents of “hypocrisy.” Harris, who has embraced a more combative role as President Joe Biden’s re-election campaign…
(Reuters) -The International Monetary Fund said on Friday it has reached a staff-level agreement with Honduras for a 36-month credit facility for about $830 million to support the country’s economic reform policies. In a statement, the IMF said the economic program focuses on helping address urgent social spending and investment needs, while anchoring macroeconomic stability….
