ZURICH (Reuters) – UBS Group’s takeover of Credit Suisse, arranged by the Swiss authorities to stave off a broader banking crisis, became official on Monday. The closing of the tie-up marks the final chapter for the 167-year old institution after years of scandals and missteps eroded customer confidence and brought the lender to the edge….
By Manya Saini, Anirban Sen and John McCrank (Reuters) -Nasdaq on Monday agreed to buy Thoma Bravo-owned software firm Adenza for $10.5 billion, with the exchange operator’s biggest-ever deal broadening its financial technology footprint but giving shareholders a case of sticker shock. Adenza’s risk management and regulatory software is primarily used by banks and brokerages…
COPENHAGEN (Reuters) – Denmark aims to raise the age limit for the collection of personal data from children by tech giants such as Google, Snapchat and Meta, in a bid to curb the massive accumulation of data on young people, the government said on Monday. It wants to raise to between 15 and 16 years…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar inched higher on Monday, trading in a narrow range as investors remained cautious ahead of several key policy decisions due this week, with the Federal Reserve expected to keep rates on hold for the first time since January 2022. Monetary policy meetings at the Fed, the…
(Reuters) – Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin’s liquidity. The move comes amid renewed regulatory scrutiny at the world’s largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – A steadily rising U.S. stock market appears to be drawing investors off the sideline, one measure of market positioning showed. Positioning among discretionary investors – a cohort that includes everyone from portfolio managers to retail investors – broke out of its one-year underweight range and went above…
By Harry Robertson LONDON (Reuters) – PIMCO is underweight the U.S. dollar and overweight UK government bonds in some funds, a senior fund manager said on Monday. “There’s no guarantee that we’re going to be short the dollar all the time, but today, (in) positioning we have dollar underweights versus G10 and EM (emerging markets),”…
By Lisa Baertlein (Reuters) – West Coast seaport employers on Monday criticized worker absences, which they said were slowing work at some of the nation’s busiest ports, as unions press for a bigger share of record profits reaped when cargo shipments surged during the pandemic. West Coast ports stretching from California to Washington state are…
(Reuters) – Sphere Entertainment said on Monday it was launching Sphere Studios in Hollywood to create immersive film content for its entertainment venue, Sphere, in Las Vegas. The live entertainment and media firm said filmmakers would work with Hollywood directors and producers at Sphere Studios to create multi-sensory films that would appear exclusively in Sphere…
NEW DELHI (Reuters) -India has imposed a limit on the amount of wheat stocks traders can hold in an effort to bring down prices, food secretary Sanjeev Chopra told reporters on Monday. The world’s second biggest wheat producer will also provide 1.5 million tonnes of wheat to bulk consumers such as flour millers, as part…
