By Hannah Lang, Amanda Cooper and Ankur Banerjee WASHINGTON/LONDON/SINGAPORE (Reuters) -Bitcoin touched a record high on Tuesday, fueled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall. The world’s largest cryptocurrency hit a high of $69,202, topping November 2021’s all-time peak of $68,999.99. Investor interest…
By Jaspreet Singh and Aditya Soni (Reuters) -Meta-owned Facebook and Instagram were back up on Tuesday after a more than two-hour outage that was caused by a technical issue and impacted hundreds of thousands of users globally. The disruptions started at around 10 a.m. ET (1500 GMT), with many users saying on rival social media…
By Yuka Obayashi and Ritsuko Shimizu TOKYO (Reuters) – A senior Nippon Steel executive told Reuters he is set to meet the United Steelworkers (USW) union chief this month to seek support for acquiring U.S. Steel, expressing confidence the deal can be finalised by the end of September. Gaining their backing could help the world’s…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) – The U.S. Supreme Court handed Donald Trump a major victory on Monday, barring states from disqualifying candidates for federal office under a constitutional provision involving insurrection and reversing Colorado’s exclusion of him from its ballot. The justices unanimously overturned a Dec. 19 decision by Colorado’s top…
By Manya Saini (Reuters) -New York Community Bancorp shares extended their slide days after the lender replaced its CEO and flagged “material weaknesses” in internal controls related to a loan review. The shares tumbled over 23% to close at their lowest since 1996. They had dropped as much as 26% on Friday despite the bank…
By Foo Yun Chee BRUSSELS (Reuters) -Brussels on Monday fined Apple 1.84 billion euros ($2 billion) for thwarting competition from music streaming rivals via restrictions on its App Store, the iPhone maker’s first ever penalty for breaching EU rules. A basic penalty of 40 million euros was inflated by a huge lump sum included as…
By Tom Hals WILMINGTON, Delaware (Reuters) -The lawyers who voided Elon Musk’s $56 billion compensation as excessive on Friday sought a record a $6 billion legal fee, payable in the electric car maker’s stock. “We recognize that the requested fee is unprecedented in terms of absolute size,” the three law firms said in a filing…
By David Randall NEW YORK (Reuters) -As fervor for artificial intelligence sweeps Wall Street, some investors are seeking bargains in more conventional areas of the stock market. Value stocks, typically defined as companies trading at a discount on metrics such as book value or price-to-earnings, have largely been left behind as AI put a charge…
By Echo Wang (Reuters) – Media platform Reddit is eyeing a valuation of up to $6.5 billion in its initial public offering, two people with the matter told Reuters on Friday, far less than what it was worth a few years ago. The company is looking to set a price range of $31-$34 per share,…
By Jahnavi Nidumolu, Aditya Soni and Sheila Dang (Reuters) -Billionaire entrepreneur Elon Musk has sued ChatGPT-maker OpenAI and its CEO, Sam Altman, saying they abandoned the startup’s original mission to develop artificial intelligence for the benefit of humanity and not for profit. The lawsuit filed late on Thursday in California Superior Court in San Francisco…
