By Hannah Lang (Reuters) -The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange Bittrex Inc and its former CEO William Shihara with operating an unregistered national securities exchange, broker and clearing agency. The SEC alleged in its complaint, which was filed in a U.S. district court in Washington, that Shihara coordinated with crypto…
BERLIN (Reuters) – Inflation is a risk for financial stability and central banks must take this into consideration, German Finance Minister Christian Lindner said on Monday. “Inflation is a tough beast,” said Lindner at an event of the association of German banks, adding that inflation is a risk not only for the financial system, but…
(Reuters) – Ernst & Young’s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units. The layoffs will affect around 3,000 of the company’s U.S. employees. The decision was taken after…
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Monday declined to hear a bid by General Motors Co to revive its racketeering lawsuit against rival automaker Fiat Chrysler Automobiles (FCA), now part of Franco-Italian automaker Stellantis NV, over bribery allegations involving the United Auto Workers union. The justices turned away an appeal by…
By Jody Godoy (Reuters) – Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the…
By Timothy Gardner and Moira Warburton WASHINGTON (Reuters) – The U.S. Treasury published a warning to U.S. companies on Monday of possible evasions of the Russian petroleum price cap of crude oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia. The Office of Foreign Assets Control (OFAC) at the…
By Stephen Culp NEW YORK (Reuters) – The solid first-quarter stock market performance helped prompt an 8.7% rise in short interest in U.S. and Canadian equities markets, according to a note from S3 Partners Research released on Friday. Short interest in U.S. and Canada markets increased by $77.9 billion, or 8.7%, to $977 billion in…
FRANKFURT (Reuters) -The United States and the euro zone should not take the international status of their currencies for granted as countries such as China and Russia seek to create their own systems. The dollar’s 80-year-old reign as the world’s reserve currency is being called into question by some commentators in light of China’s rise…
(Reuters) – Activist investor Trillium Capital said on Monday stock-photo company Getty Images Holdings Inc should expand and create partnerships with technology firms and publishers to grow its revenue. Last week, Trillium asked Getty for a board seat and urged the company to evaluate strategic options including a sale. According to Trillium’s Monday statement, Getty…
By Akash Sriram (Reuters) -Tesla Inc’s first-quarter margins are anticipated to have hit a more than three-year low as the electric-vehicle maker slashed prices to lure more buyers in the face of rising competition and a weak economy. The world’s most valuable automaker, which commands over half of the U.S. EV market, cut sticker prices…
