(Reuters) – The Ukrainian general in charge of ground forces said his troops would not give up the eastern city of Bakhmut as they prepare to begin a counteroffensive against occupying Russian forces. FIGHTING/MILITARY * The United States plans to announce as soon as Wednesday a $300 million military aid package for Ukraine that will…
By Medha Singh and Lisa Pauline Mattackal (Reuters) -Can inherently volatile cryptocurrencies become safe-havens? Apparently they can in some parts of the world, such as Argentina and Turkey, where soaring prices and tumbling local currencies have forced people to seek refuge in digital coins. Ownership of digital currencies in Turkey was the highest in the…
(Reuters) – Morgan Stanley is looking to resolve more than a year long investigation by U.S. regulators into its block trading practices, the Wall Street bank said in a filing on Tuesday. The company is engaged in discussions with the enforcement division of the U.S. Securities and Exchange Commission (SEC) and the United States Attorney’s…
By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS (Reuters) – Prominent investors including hedge fund and private equity managers at a major industry conference say they are shying away from stocks and real estate amid uncertainty over interest rates, fears of a recession and threat of a U.S. debt default. Instead, fixed income, which was…
By Dietrich Knauth (Reuters) – Bankrupt movie theater chain Cineworld received U.S. court approval on Tuesday to raise $2.26 billion as part of its exit from bankruptcy, after reaching a settlement with a minority faction of lenders that had opposed parts of the exit financing. Cineworld is aiming to emerge from Chapter 11 bankruptcy in…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Maybe the U.S. banking turmoil of March 2023 wasn’t boxed up, tied with a bow, and neatly shelved for posterity after all. Shares in regional U.S. banks got clobbered on Tuesday – PacWest BanCorp lost a quarter of…
By Krystal Hu (Reuters) – Inflection AI, the artificial intelligence startup founded by LinkedIn co-founder Reid Hoffman and Google DeepMind co-founder Mustafa Suleyman, has released its first AI chatbot product, the company said on Tuesday. Similar to OpenAI’s viral chatbot ChatGPT, Inflection’s AI chatbot, named Pi, uses generative AI technology to interact with users through…
By Nandita Bose and David Shepardson WASHINGTON (Reuters) -The chief executives of Alphabet Inc’s Google, Microsoft, OpenAI and Anthropic will meet with Vice President Kamala Harris and top administration officials to discuss key artificial intelligence (AI) issues on Thursday, said a White House official. The invitation seen by Reuters to the CEOs noted President Joe…
(Reuters) -Prudential Financial Inc reported a lower-than-expected quarterly profit on Tuesday, as the life insurer saw a decline in assets under management. The respite in the economy after the markets priced in a milder recession was short-lived as a string of high-profile bank collapses sparked a sector-wide turbulence last month and roiled financial stocks. As…
By Carolina Mandl and Svea Herbst-Bayliss BEVERLY HILLS, California (Reuters) – Wells Fargo & Co CEO Charlie Scharf said on Tuesday the banking industry is “extremely strong” but added he expects more volatility as market participants assess the health of financial institutions. “Talking about regional banks as one – it just makes absolutely no sense,”…
