By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled higher on Thursday after flip flopping during the session, supported by a bigger draw than expected in U.S. crude inventories but pressured by fears that rising interest rates could dent global economic growth. Brent crude futures rose 31 cents, or 0.4%, to $74.34 a barrel. U.S. West…
(Reuters) – Financial firms are once again lining up to attempt to get their proposed spot bitcoin exchange-traded-funds approved by the U.S. securities regulator. The Securities and Exchange Commission (SEC) has rejected dozens of applications, saying the proposals have not met anti-fraud and investor protection standards. These are the major firms with live SEC applications:…
By Michael S. Derby (Reuters) – Federal Reserve Bank of Atlanta President Raphael Bostic reiterated on Thursday his belief that the likely path of inflation will save the central bank from having to raise its short-term rate target again. “We have reached a level of the nominal federal funds rate that should be sufficient to…
WASHINGTON (Reuters) – The U.S. Federal Reserve announced on Thursday that 57 firms have been certified to utilize its “FedNow” instant payments system after it launches in late July. The Fed did not provide a specific date for the launch, but 41 banks and 15 service providers, including large firms like JPMorgan Chase, Bank of…
By Sri Hari N S and Niket Nishant (Reuters) -Thrift store operator Savers Value Village fetched a market capitalization of nearly $4 billion in a strong debut on the New York Stock Exchange on Thursday, underscoring a resurgence in the IPO market as investors lap up new listings. Savers Value, owned by private equity firm…
PARIS (Reuters) – EDF CEO Luc Remont told managers on Thursday that the state-owned power group’s nuclear activities would be reorganised to overcome recurring problems that cut production last year. An EDF spokesperson told Reuters a reorganisation of the nuclear division had been announced with the aim of ushering in “deep change” so that each…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Thursday bolstered the ability of employees to obtain accommodations at work for their religious practices, reviving a lawsuit by an evangelical Christian former mail carrier accusing the Postal Service of discrimination after being disciplined for refusing to show up for work on Sundays. The 9-0 ruling…
(Reuters) – AI company Runway has been valued at $1.5 billion in its latest round of funding, a source familiar with the matter said on Thursday, after it raised $141 million from investors, including Alphabet-owned Google and Nvidia. The extension to the Series C funding round also included Salesforce Ventures and Runway’s existing investors, the…
MEXICO CITY (Reuters) – Mexico’s financial system stability committee described the country’s economic outlook as uncertain on Thursday, citing persistent risks of further weakening of economic activity stemming from a complex external environment. “Looking ahead, the outlook remains uncertain,” the committee said in a statement, noting that domestic demand should nonetheless continue to support domestic…
By Jonathan Stempel NEW YORK (Reuters) – Coinbase, the largest U.S. cryptocurrency platform, said it will ask a judge to dismiss the U.S. Securities and Exchange Commission lawsuit claiming it broke the law by failing to register its business. In a letter filed just before midnight on Wednesday in Manhattan federal court, Coinbase said the…
