By Tatiana Bautzer NEW YORK (Reuters) – Credit Suisse Group AG on Thursday appointed an investment banking management committee to oversee its integration with UBS Group AG, according to a memo seen by Reuters. UBS completed its emergency takeover of embattled rival Credit Suisse in June, forging a Swiss banking and wealth management giant with…
By Niket Nishant and Krystal Hu (Reuters) -Inflection AI, a startup backed by several Silicon Valley heavyweights, said on Thursday it had raised $1.3 billion from investors including Microsoft and Nvidia, amid a boom in the artificial intelligence (AI) sector. The investment, a mix of cash and cloud credit, valued the one-year-old company at $4…
By Jonathan Stempel and Helen Coster NEW YORK (Reuters) -U.S. prosecutors on Thursday charged three Florida men with making more than $22 million through insider trading in late 2021 ahead of a proposed merger to take former U.S. President Donald Trump’s social media company public. Michael Shvartsman, his brother Gerald Shvartsman and Bruce Garelick allegedly…
By Jesús Aguado, David Latona and Padraic Halpin (Reuters) -U.S. central bankers are likely to resume their rate hike campaign after a break earlier this month, Federal Reserve Chair Jerome Powell signaled on Thursday, as a fresh slew of stronger-than-expected U.S. economic data underscored why more monetary tightening is likely needed. “We did take one…
By David Milliken LONDON (Reuters) -The Bank of England has no need to raise interest rates further to curb inflation, and risks having to make a sharp U-turn if it tightens policy any more, BoE rate-setter Silvana Tenreyro said in her last speech as an official at the central bank. Tenreyro has opposed raising interest…
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…
By David Morgan WASHINGTON (Reuters) – U.S. House Republicans sought testimony on Thursday from more than a dozen officials from the Justice Department, FBI and other government agencies involved in the federal tax investigation of President Joe Biden’s son, Hunter. Three Republican committee chairs in the House of Representatives said the testimony is necessary in…
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…
