OPEC withholds media access to Reuters, Bloomberg, WSJ for July event

(Reuters) – OPEC has withheld media access to reporters from Reuters, Bloomberg and the Wall Street Journal to cover a meeting of oil industry CEOs with energy ministers from OPEC and its allies, reporters and several people familiar with the matter said on Wednesday. The three media organizations are among the world’s leading suppliers of…

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Bed Bath & Beyond splits auction, doubt grows over Buy Buy Baby sale process – CNBC

(Reuters) – Bed Bath & Beyond is splitting the bankruptcy-run auction of its Buy Buy Baby chain into two phases, CNBC reported on Wednesday, citing people familiar with the matter. An auction was originally scheduled for 10 a.m. on Wednesday, the report said, adding that now only bids for the chain’s intellectual property, including its…

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FTX accuses ex-lawyer of aiding Bankman-Fried’s fraud, silencing whistleblowers

By Andrew Goudsward (Reuters) – Bankrupt cryptocurrency exchange FTX sued one of its former top lawyers, accusing him of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company. The complaint, filed on Tuesday in U.S. Bankruptcy Court in Delaware, describes Daniel Friedberg, a former chief compliance officer at…

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Spartan Capital broker faces probe tied to deals advised by Morgan Stanley – WSJ

(Reuters) – Federal prosecutors are investigating whether a broker at Spartan Capital Securities traded on confidential information about planned mergers and acquisitions illegally obtained from Morgan Stanley, the Wall Street Journal reported on Wednesday. Jordan Meadow’s communications with five people, including a former Morgan Stanley employee, are under the scanner, the report said, citing people familiar…

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US, China plan to increase commercial flights between the countries- US official

By Kanishka Singh WASHINGTON (Reuters) – The United States and China agreed to consider expanding commercial flights between the two countries to improve people-to-people contact, the top U.S. diplomat for East Asia, Daniel Kritenbrink, said on Wednesday. He told a Center for Strategic and International Studies think tank event in Washington that the countries agreed…

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US public debt burden to rise to 181% of GDP by 2053, CBO projects

WASHINGTON (Reuters) – The U.S. public debt burden will reach 181% of economic output in 2053, the Congressional Budget Office said on Wednesday, a slight improvement over recent long-term projections due to discretionary spending caps enacted as part of the recent deal to raise the federal debt ceiling. The nonpartisan CBO said that U.S. budget…

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Swiss National Bank’s Maechler says inflation proving persistent

ZURICH (Reuters) -Swiss inflation is proving broader-based and more persistent than initially thought, Swiss National Bank Governing Board member Andrea Maechler said on Wednesday, reiterating the central bank’s commitment to fighting price rises. Inflation had originally been triggered by oil price rises, supply chain disruptions and tight labour markets after the COVID pandemic, but had…

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