By David Shepardson (Reuters) – The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo Cars electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. The Treasury said the new requirements effective on Tuesday will also cut by half credits for the Tesla Inc…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices turned lower on Monday as the U.S. dollar strengthened and as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes. Brent crude futures fell $1.55, or 1.8%, to settle at $84.76 a barrel, while U.S. West…
By Nell Mackenzie LONDON (Reuters) – Investment firm Orchard Global, which manages $8 billion of capital, has hired Fredrik Gentzel as its chief operating officer (COO), a statement seen by Reuters said. Gentzel previously worked as the CEO of hedge fund Capula Investment Management from 2017. Capula specialises in bond and macro economic trading. At…
By Hannah Lang (Reuters) -The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange Bittrex Inc and its former CEO William Shihara with operating an unregistered national securities exchange, broker and clearing agency. The SEC alleged in its complaint, which was filed in a U.S. district court in Washington, that Shihara coordinated with crypto…
BERLIN (Reuters) – Inflation is a risk for financial stability and central banks must take this into consideration, German Finance Minister Christian Lindner said on Monday. “Inflation is a tough beast,” said Lindner at an event of the association of German banks, adding that inflation is a risk not only for the financial system, but…
(Reuters) – Ernst & Young’s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units. The layoffs will affect around 3,000 of the company’s U.S. employees. The decision was taken after…
By Jody Godoy (Reuters) – Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the…
By Timothy Gardner and Moira Warburton WASHINGTON (Reuters) – The U.S. Treasury published a warning to U.S. companies on Monday of possible evasions of the Russian petroleum price cap of crude oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia. The Office of Foreign Assets Control (OFAC) at the…
FRANKFURT (Reuters) -The United States and the euro zone should not take the international status of their currencies for granted as countries such as China and Russia seek to create their own systems. The dollar’s 80-year-old reign as the world’s reserve currency is being called into question by some commentators in light of China’s rise…
BRASILIA (Reuters) – Brazil’s government is working on additional revenue measures to be announced in the second half of this year, said Revenue Chief Robinson Barreirinhas on Monday, highlighting confidence that this set of actions will improve public accounts. Speaking at a news conference on the 2024 budget bill, Barreirinhas stated that the measures would…
