By Shubham Batra, Shristi Achar A and David Carnevali (Reuters) – The S&P 500 and Nasdaq closed in negative territory on Wednesday as investors took profits after a months-long megacap stocks run and ahead of key economic and policy events next week. The small-cap index Russell 2000 climbed 1.78% as investors kept moving away from…
By Hannah Lang, Manya Saini and Niket Nishant (Reuters) -Coinbase Chief Executive Brian Armstrong on Wednesday hit back at U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler over the agency’s lawsuit against the crypto exchange, calling him an “outlier,” while also reassuring customers that their funds were safe. The SEC on Tuesday alleged Coinbase…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. An interest rate decision from India and revised Japanese GDP will be the big local drivers for Asian markets on Thursday, with wider sentiment soured by a profit-taking slump in U.S. tech stocks and a surprising rate hike…
By Jonathan Stempel (Reuters) – Ryanair Holdings Plc and longtime Chief Executive Michael O’Leary reached a $5 million settlement of a lawsuit accusing them of defrauding shareholders by downplaying the willingness of the Europe’s largest budget airline to recognize labor unions. The preliminary all-cash settlement was reached after mediation, and was filed on Wednesday in…
SAN FRANCISCO (Reuters) – Nikola adjourned its shareholder meeting on Wednesday after failing to garner enough support for a proposal to increase the number of shares the electric truck maker is allowed to issue, delaying its prospects of raising much-needed capital. Nikola has been urging shareholder for weeks to vote in favor of the so-called…
By Carolina Mandl and Davide Barbuscia NEW YORK (Reuters) -Big U.S. hedge fund and family office investors on Wednesday cautioned that despite the U.S. economy showing resilience, a recession and more bank failures remained likely in an environment of persistent inflation. U.S. investor Stanley Druckenmiller, chairman and chief executive officer at Duquesne Family Office, said…
By Samuel Indyk and Koh Gui Qing LONDON (Reuters) -Global stocks retreated from a 13-month high on Wednesday and the U.S. dollar drifted lower as attention turned towards next week’s pivotal inflation data and Federal Reserve meeting, where chances of a rate hike continued to ebb. On Wall Street, stocks ceded earlier gains, with the…
By Matt Spetalnick and Patricia Zengerle WASHINGTON (Reuters) – Senior U.S. policy makers took aim at China on Wednesday over its approach to Latin America, accusing Beijing of breaching economic norms and urging it to do more to help combat the illegal fentanyl trade. Testifying before a House of Representatives subcommittee, Brian Nichols, assistant secretary…
By Valerie Insinna and David Shepardson WASHINGTON (Reuters) -Boeing said on Tuesday it could be forced to slow deliveries of its 787 Dreamliner after the company discovered a new production flaw that will require it to inspect all 90 jets in its inventory, the latest in a series of setbacks for the widebody plane. While…
By Tom Wilson LONDON (Reuters) – Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received around $11 billion of client assets through a Seychelles-based firm set up to take customer deposits, a U.S. Securities and Exchange Commission filing shows. The SEC filing, which on Tuesday asked a U.S. court to freeze…
