By Douglas Gillison WASHINGTON (Reuters) -Wall Street’s top regulator on Wednesday unanimously voted to propose a rule barring traders in asset-backed securities from betting against the very assets they sell to investors, behavior that became infamous in the wake of the 2008 global financial crisis. The rule is among the last to be adopted under…
By Shreyashi Sanyal and Johann M Cherian (Reuters) -Wall Street benchmarks dropped on Wednesday as a decline in technology stocks after Microsoft’s downbeat forecast and a bleak quarterly report from Boeing fanned fears of a recession. Shares of Microsoft Corp fell 1.2% after it warned that growth in its lucrative cloud business could stall, while…
(Reuters) – Natural disasters, many driven by climate change, caused global economic losses of $313 billion in 2022, insurance broker Aon estimated on Wednesday, of which less than half was insured. Losses from natural catastrophes covered by the insurance sector amounted to $132 billion, 57% above the 21st-century average, it added, leaving a global ‘protection…
By Shreyashi Sanyal and Johann M Cherian (Reuters) – Wall Street’s main indexes dropped on Wednesday, with the Nasdaq down 2% as Microsoft’s outlook weighed down technology stocks, while a bleak quarterly report from Boeing added to fears of a recession. Shares of Microsoft fell 3.9% after it warned that growth in its lucrative cloud…
By Gabriel Araujo SAO PAULO (Reuters) -Brazilian retailer Americanas SA reported 7,720 creditors and debt totaling nearly $8 billion within its restructuring process, a Rio de Janeiro court said on Wednesday. Americanas, backed by the billionaire trio that founded 3G Capital, entered bankruptcy protection last week after disclosing “inconsistencies” in its accounting, leading top investors…
By Hannah Lang (Reuters) -Crypto asset manager Grayscale Investments is gearing up for a prolonged legal fight with the U.S. Securities and Exchange Commission to create a spot bitcoin exchange-traded fund, the company’s chief executive officer said. As the company awaits a court ruling on a June lawsuit against the SEC, CEO Michael Sonnenshein said…
(Reuters) – The New York Stock Exchange said on Wednesday that a sell short restriction (SSR) was “erroneously” triggered in a set of ticker symbols for companies listed on the exchange on Tuesday that led to a glitch at market open. The glitch prevented the opening auctions for a slew of stocks, prompting widespread trading…
By Gabriel Burin and Valentine Hilaire BUENOS AIRES/MEXICO CITY (Reuters) – Brazil’s slowing economy will likely remain weak in 2023 as a planned spending drive by newly-elected President Luiz Inacio Lula da Silva risks keeping already-high borrowing costs elevated for longer, a Reuters poll of economists found. Lula’s government, which took power on Jan. 1,…
By Akriti Sharma (Reuters) – Microsoft Corp on Wednesday was hit with a networking outage that took down its cloud platform Azure along with services such as Teams and Outlook, potentially affecting millions of users globally. Azure’s status page showed services were impacted in Americas, Europe, Asia Pacific, Middle East and Africa. Only services in…
BENGALURU (Reuters) – Hindenburg Research said on Wednesday it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels. The group, which is led by Gautam Adani, the world’s third richest man according to Forbes, dismissed…
