By Anirban Sen and Echo Wang NEW YORK (Reuters) – SoftBank Group Corp’s chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, people familiar with the matter said on Saturday, setting the stage for this year’s largest initial public offering. While SoftBank had said in March it planned to…
By Greg Roumeliotis NEW YORK (Reuters) – The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank under receivership imminently, a person familiar with the matter said on Friday, sending shares of the lender down nearly 50% in extended trading. The U.S. banking regulator decided the troubled regional lender’s position…
(This April 28 story has been refiled to remove repeated word in paragraph 1) By Martin Coulter and Supantha Mukherjee LONDON/STOCKHOLM (Reuters) – As recently as February, generative AI did not feature prominently in EU lawmakers’ plans for regulating artificial intelligence technologies such as ChatGPT. The bloc’s 108-page proposal for the AI Act, published two…
ISTANBUL (Reuters) – Turkish defence firm Baykar aims to begin production of its new unmanned combat aerial vehicle (UCAV) next year which is already attracting international interest, its chairman Selcuk Bayraktar said. Baykar has come to prominence internationally in recent years because of the company’s light drone TB-2, which has been used in Ukraine, Azerbaijan…
(Reuters) – The U.S. Federal Deposit Insurance Corp has asked banks including JPMorgan Chase & Co and PNC Financial Services Group to submit final bids for First Republic Bank by Sunday after gauging their initial interest earlier in the week, Bloomberg News reported on Saturday. The banking regulator reached out to banks late Thursday seeking…
BEIJING (Reuters) – Chinese ride hailing giant Didi Global on Saturday reported a 19% year-on-year fall in 2022 revenue, as the country’s COVID lockdowns and a regulatory crackdown took a toll. In its first annual report since it delisted from the U.S. last year, Didi said its total revenue fell to 140.79 billion yuan ($20.37…
By Greg Roumeliotis NEW YORK (Reuters) -The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank under receivership imminently, a person familiar with the matter said on Friday, sending shares of the lender down nearly 50% in extended trading. The U.S. banking regulator decided the troubled regional lender’s position has…
By Douglas Gillison (Reuters) – The Federal Reserve on Friday blamed the deregulatory zeal that occurred during the Trump era for contributing to the second-largest bank failure in U.S. history, appearing to take a clear stand on an acrimonious policy divide in Washington. Amid the turmoil that Silicon Valley Bank’s implosion unleashed on the financial…
By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – U.S. stock indexes advanced on Friday after strong earnings updates from Exxon and Intel offset worries over Amazon’s slowdown warning, while economic data reinforced expectations that the Federal Reserve would hike interest rates next week. Exxon Mobil Corp shares finished up 1.3% after hitting an…
By Ann Saphir, Hannah Lang and Chris Prentice (Reuters) – U.S. regulators on Friday put large banks on notice that tougher oversight is coming, after the Federal Reserve and Federal Deposit Insurance Corporation detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March. Though the banking…
