(Reuters) -The U.S. Securities and Exchange Commission is investigating the conduct of First Republic Bank executives before the government seizure and sale to JPMorgan Chase & Co, Bloomberg News reported on Friday, citing people familiar with the matter. The SEC is looking into whether any members of the then-executive team of First Republic improperly traded…
By Andrew Mills DOHA/MOMBASA (Reuters) – Andrew Maganga seized the chance to work as a World Cup security guard in Qatar last year, only to be fired along with some 200 others on the last day of the tournament, jailed for protesting over wages, and deported back to his native Kenya. At home in Mombasa,…
By Siddharth Cavale NEW YORK (Reuters) – A new analysis of Walmart’s pricing strategy reveals it has consistently kept grocery prices lower than competitors while generally hiking prices at rates far below U.S. inflation, even while the firm now faces allegations of using its clout to gain unfair advantages over rivals. Data analytics firm Dataweave…
(Reuters) -The U.S. Justice Department is investigating whether Binance Holdings was illegally used to let Russians skirt U.S. sanctions and move money through the cryptocurrency exchange, Bloomberg News reported on Friday, citing people familiar with the matter. Regulators globally have long called for tighter controls on crypto exchanges including Binance, the world’s largest, to prevent…
By Aditya Soni (Reuters) -Lyft Inc shares tumbled about 19% on Friday as the ride-hailing company’s strategy to claw back market share from rival Uber with lower fares stoked concerns of a hit to its profit margins. At least 16 analysts slashed their price targets on a stock that has widely underperformed the market this…
By Mike Stone WASHINGTON (Reuters) – U.S. President Joe Biden’s administration plans to send $500 million worth of weapons aid to Taiwan using the same emergency authority that has been used more than 35 times for Ukraine, a source familiar with the plan said on Friday. As a part of the 2023 budget, Congress authorized…
By Michael Holden LONDON (Reuters) -King Charles greeted excited crowds gathering for his coronation before hosting a reception for world leaders at Buckingham Palace on Friday ahead of what will be the biggest ceremonial event in Britain for 70 years. Charles, 74, and his wife Camilla will be crowned at London’s Westminster Abbey in a…
By Sinéad Carew and Naomi Rovnick NEW YORK/LONDON (Reuters) – A global gauge of stocks rallied and U.S. Treasuries and gold sold off on Friday as strong U.S. jobs data brightened the economic outlook and traders pared expectations of Federal Reserve easing after a long spate of rate hikes. The non-farms payroll report showed U.S….
By Howard Schneider WASHINGTON (Reuters) – St. Louis Federal Reserve President James Bullard said on Friday he was ready to keep an “open mind” about whether to raise rates or hold them steady at the Fed’s June meeting, joining the “data dependent” stance of his colleagues after a year of urging them on to consecutive…
By Karen Brettell NEW YORK (Reuters) – The dollar gave back earlier gains against the euro but stayed stronger against the yen on Friday after jobs gains and wage growth for April beat economists’ forecasts but showed downward jobs revisions for March. Employers added 253,000 jobs, beating economists’ forecasts for a 180,000 gain. U.S. average…
