By Gertrude Chavez-Dreyfuss and Elizabeth Howcroft NEW YORK/LONDON (Reuters) – With major cryptocurrency exchange FTX on the brink of collapse, some investors are beginning to question the viability of a sector already bruised by the bitcoin bubble bursting and closures of key market players. Crypto markets have come under intense pressure this year, as rising…
MILAN (Reuters) – The Benetton family and U.S. investment fund Blackstone have secured Atlantia shares accounting for 62.2% of its capital as of Thursday, a day before the deadline for their takeover bid, Reuters calculations based on bourse data showed. Borsa Italiana said the take-up in the buyout offer for the Italian infrastructure group, which…
(Reuters) – Juul Labs Inc has told employees on Thursday that it has stopped its bankruptcy preparations and is working on a cost-cutting program, the Wall Street Journal reported, citing company officials. The company also plans to lay off about 400 people and reduce its operating budget by 30% to 40%, the report added. Juul…
(Reuters) – FTX has approached Kraken as potential rescue partner, Axios reported on Thursday, citing two people familiar with the matter, just hours after Chief Executive Sam Bankman-Fried said he had launched an urgent push to raise funds. Bankman-Fried had earlier in the day said he was in talks with “a number of players” in…
By Michael S. Derby (Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday the point where the central bank might pause on rate rises could be getting closer. “I am in the camp of wanting to get to what would clearly be a restrictive stance, somewhere north of four-ish, you know, four…
(Reuters) – Traders on Thursday trimmed bets on interest-rate hikes by the Federal Reserve as a government report showed inflation rose less than expected last month. Futures contracts that settle to the Fed’s policy rate surged immediately after the report, as traders moved to price in a bigger chance that the Fed will slow the…
By Angus Berwick and Tom Wilson (Reuters) -On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that FTX’s arch-rival, Binance, planned to mount a shock takeover…
By Ben Blanchard and Sarah Wu TAIPEI (Reuters) -Apple Inc supplier Foxconn said on Thursday it expected smartphone revenue to fall this quarter and is adjusting production to prevent recent COVID-19 curbs at a massive iPhone factory in China from impacting holiday orders. Foxconn has grabbed headlines in recent weeks, with tight virus restrictions at…
By Prerna Bedi (Reuters) -Domino’s Pizza Group Plc said on Thursday sales in the key holiday quarter were off to a positive start and the fast-food chain is pinning hopes on the FIFA World Cup to drive revenues further despite a squeeze on consumer finances. The company, a franchisee of U.S.-based Domino’s Pizza Inc, also…
TOKYO (Reuters) – Vehicle demand in the United States is strong for the rest of the year but its economy is expected to slow after the spring as interest rates rise, Japan’s Mazda Motor Corp executives on Thursday. “As for the U.S. market from next spring onward, we believe that the economy will gradually slow…
