By Angus Berwick (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Monday accused the world’s largest crypto exchange, Binance, and its founder Changpeng Zhao, of operating an “elaborate scheme to evade U.S. federal securities laws.” The SEC charged Binance and Zhao with 13 offences, including operating an unregistered securities exchange and failing to…
By Rachael Levy, Krystal Hu and Marisa Taylor (Reuters) – Elon Musk’s brain implant startup Neuralink, which was valued at close to $2 billion in a private fundraising round two years ago, is now worth around $5 billion based on privately executed stock trades described to Reuters by five sources with knowledge of the matter….
BRASILIA (Reuters) – Changes to the Brazilian inflation targeting system should not be linked to how monetary policy is carried out, the central bank’s director of economic policy said on Monday, amid speculation of an imminent change in inflation goal timelines. Brazil has annual inflation targets, and if they are not met within a given…
By Marc Jones LONDON (Reuters) -Signs of de-dollarisation are unfolding in the global economy, strategists at the biggest U.S. bank JPMorgan said on Monday, although the currency should maintain its long-held dominance for the foreseeable future. The strains of steep U.S. interest rate rises and sanctions that have frozen Russia out of the global banking…
By Doyinsola Oladipo and Bianca Flowers NEW YORK (Reuters) – U.S. hotel executives say they are betting on brands that specialize in extended stays for travelers, viewing those projects as less risky given the struggle developers face in securing financing for new construction. Hotel room supply in the United States is currently at multi-year lows,…
(Reuters) – Canadian insurer Fairfax Financial Partners said on Monday it had agreed to buy a huge chunk of PacWest Bancorp real estate loans from property investment firm Kennedy-Wilson Holdings Inc for $2.1 billion. PacWest had agreed last month to sell 74 real estate construction loans to Kennedy-Wilson for $2.4 billion and at a $200…
By Pete Schroeder WASHINGTON (Reuters) – U.S. banks could face capital hikes of as much as 20% under new rules being prepared by U.S. regulators as part of a global effort to harmonize capital requirements, a person familiar with the matter said on Monday. U.S. regulators, led by the Federal Reserve, are expected to unveil…
By Joanna Plucinska, Tim Hepher and Aditi Shah ISTANBUL (Reuters) – Airlines took aim at Europe over green fuel mandates and its failures to stem France’s air traffic control strikes as they weigh on carrier capacities at a global airlines meeting in Istanbul on Monday. European regulators have introduced a new mandate demanding airlines use…
By Shreyashi Sanyal and Amruta Khandekar (Reuters) -European shares dipped on Monday as investors took profits after last week’s rebound, as news of weak U.S. business activity stirred up economic slowdown worries and eclipsed gains in telecom stocks. The pan-European STOXX 600 index ended 0.4% lower after a survey showed the U.S. services sector barely…
By Michelle Nichols UNITED NATIONS (Reuters) – An international aid agency in Afghanistan has resumed operations in the southern province of Kandahar – the birthplace of the Taliban and home to its supreme spiritual leader – after its Afghan female staff were allowed to return to work. The move comes after Norwegian Refugee Council (NRC)…
