By Stephanie Kelly NEW YORK (Reuters) – Oil futures dipped on Tuesday as weaker-than-expected economic data in China and the United States offset a forecast of higher global demand from the International Energy Agency (IEA). Brent crude futures settled 32 cents lower to $74.91 a barrel. U.S. West Texas Intermediate crude edged down 25 cents…
By Huw Jones (Reuters) – European Union states on Tuesday gave the final nod to the world’s first comprehensive set of rules to regulate cryptoassets on Tuesday, piling pressure on countries such as Britain and the United States to play catch up. An EU finance minister meeting in Brussels approved rules that were thrashed out…
LONDON (Reuters) – Global regulators will shortly propose the first set of international rules for cryptoassets, including how existing norms could apply to the sector, a top regulator said on Tuesday. Cryptoasset companies are calling for a globally-coordinated approach to give certainty to the sector as they face a “fire hose” of differing approaches. The…
By Foo Yun Chee BRUSSELS (Reuters) -UBS is expected to secure unconditional European Union antitrust approval for its planned takeover of struggling Credit Suisse, people familiar with the matter said on Tuesday, putting the Swiss bank closer to completing the deal. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.4 billion) in…
By Milana Vinn NEW YORK (Reuters) -Ed Wehle, a senior Barclays Plc technology banker, has resigned to join U.S. rival Citigroup Inc in New York, according to an internal memo seen by Reuters, adding to an exodus of top investment bankers from the London-based bank. An investment banking veteran of nearly three decades, Wehle will…
By Hannah Lang, Tatiana Bautzer, Pete Schroeder and Ann Saphir WASHINGTON/NEW YORK (Reuters) – The former chief executive of Silicon Valley Bank defended the U.S. lender’s efforts to manage risk in his first public comments after the bank’s shock collapse, as regulators promised better supervision to prevent more such failures. The top executives at SVB…
AMELIA ISLAND, Florida (Reuters) – Changing interest rates in “smaller, less frequent steps” can make it less likely that U.S. Federal Reserve monetary policy causes financial instability, Dallas Fed President Lorie Logan said on Tuesday. “Gradual policy adjustments can be helpful,” Logan said at an Atlanta Fed economic conference. While not commenting on an upcoming…
(Reuters) – New York Community Bancorp Inc said on Tuesday the Federal Deposit Insurance Corporation is selling the bank’s shares owned by the regulator following the Signature Bank deal. A unit of New York Community Bancorp in March entered an agreement with U.S. regulators to buy deposits and loans from New York-based Signature Bank which…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar edged higher on Tuesday in choppy trading, with no clear direction, as investors kept an eye on debt ceiling talks to avert a possible default that could reverberate across asset markets and damage confidence in the world’s largest economy. The dollar index, a measure of the…
By Dietrich Knauth NEW YORK (Reuters) – Vice Media received court permission on Tuesday to borrow $5 million to fund its bankruptcy, saying it will use the money in part to pay freelancers and prepare the company for a sale. U.S. Bankruptcy Judge John Mastando at a hearing in Manhattan said he would allow Vice…
