By Luc Cohen NEW YORK (Reuters) – A former product manager at non-fungible token (NFT) marketplace OpenSea was convicted on Wednesday of fraud and money laundering for using inside knowledge of which assets would be featured on its home page to trade NFTs. Nathaniel Chastain was accused of buying NFTs he had decided to…
By Niket Nishant and David French (Reuters) -Carl Icahn’s empire took another hit on Wednesday when his holding company’s shares plunged further in the aftermath of a critical report from short seller Hindenburg Research, bringing the valuation drop since the short seller attacked it to more than $6 billion. Hindenburg on Tuesday accused Icahn Enterprises…
(Reuters) – A new 300-megawatt (MW) Con Edison Rainey-to-Corona transmission line, which can power 240,000 average-sized homes in New York City’s Queens borough, has been energized, New York Governor Kathy Hochul said on Wednesday. The six-mile-long (10 km-long) line is part of the Reliable Clean City projects that will add 900 MW of transmission capacity…
By Stephen Nellis, Josh Ye and Jane Lanhee Lee (Reuters) -U.S. microchip export controls imposed last year to freeze China’s development of supercomputers used to develop nuclear weapons and artificial-intelligence systems like ChatGPT are having only minimal effects on China’s tech sector. The rules restricted shipments of Nvidia Corp and Advanced Micro Devices Inc chips…
By Granth Vanaik (Reuters) – Etsy Inc on Wednesday beat market expectations for quarterly revenue, benefiting from demand for products such as personalized gifts offered on its e-commerce platform as well as higher transaction fees, sending the company’s shares up about 2% in extended trading. Etsy – a marketplace for sellers of vintage or handcrafted…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The Fed on Wednesday delivered what markets are convinced will be the last rate hike of the cycle, bond yields and the dollar fell, yet investors are rattled. Asian markets wake up on Thursday to the realization that…
(Corrects firm name to RBC Wealth Management from RBC Portfolio Advisory Group in paragraph 5) By Sinéad Carew NEW YORK (Reuters) – MSCI’s gauge of stock markets around the world was advancing but trading was choppy on Wednesday while U.S. Treasury yields and the U.S. dollar steepened declines after the U.S. Federal Reserve raised interest…
By Ernest Scheyder (Reuters) -Lithium producer Albemarle Corp cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. Shares of the Charlotte, North Carolina-based company fell 4.5% to $165.19 in after-hours trading. Concern has grown across the lithium industry this…
By Valerie Insinna and Abhijith Ganapavaram WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. The company announced…
(Reuters) – PacWest Bancorp has been weighing a range of strategic options, including a sale, Bloomberg News reported on Wednesday, citing people familiar with the matter. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Arun Koyyur)
