EUROP

Sam Bankman-Fried pleads not guilty in FTX fraud case; October trial set

NEW YORK, Jan 3 (Reuters) – Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges of misleading investors in his now bankrupt cryptocurrency exchange FTX and causing billions of dollars in losses, in what prosecutors called it an “epic” fraud. He pleaded in federal court in Manhattan where he faces eight counts, including wire …

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Wall St stocks fall, bond yields rise as China drops quarantine rule

NEW YORK, Dec 27 (Reuters) – The S&P 500 and Nasdaq closed lower on Tuesday after the release of U.S. economic data at the start of a shortened holiday week as bond yields rose after China reported that it would remove its COVID-19 quarantine rule for inbound travellers. US Treasury yields rose as investors tried …

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Insurers shun FTX-linked crypto firms as contagion risk mounts

Dec 19 (Reuters) – Insurers are denying or limiting coverage for customers exposed to bankrupt crypto exchange FTX, leaving traders and digital currency exchanges uninsured against losses from hacking, theft or lawsuits, said several market participants. Insurers were already reluctant to underwrite asset and directors and officers (D&O) protection policies for crypto companies due to …

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Former FTX CEO Bankman-Fried arrested in Bahamas after U.S. files charges

Dec 12 (Reuters) – (Editor’s note: This story contains language in paragraph 18 that some readers may find offensive) FTX founder Sam Bankman-Fried was arrested in the Bahamas at the request of U.S. prosecutors on Monday, the day before he will testify before Congress about the brutal failure last month of one of the world’s …

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Oil steadies after falls as weak economy offsets supply risks

Oil has fallen for four out of five weeks in recent weeks Keystone pipeline closed, Russia threatens to cut production LONDON, Dec 12 (Reuters) – Oil prices stabilized on Monday after several weeks of decline as a weaker global economy offset supply problems stemming from the closure of a key pipeline supplying the United States …

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Microsoft to buy 4% stake in London Stock Exchange

December 12 (Reuters) – Microsoft (MSFT.O) will take a 4% stake in the London Stock Exchange Group (LSEG.L) as part of a 10-year commercial agreement to migrate the exchange operator’s data platform to the cloud, the British company announced on Monday. It’s the latest sign of deepening ties between financial services providers and a handful …

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Asian shares slump, dollar firms ahead of central bank rate hikes

https://tmsnrt.rs/2zpUAr4 Japan’s Nikkei down 0.2%; Hong Kong shares down 2.2% Dollar Drifts Higher; European futures point to a lower open US CPI Tuesday, Fed meeting Wednesday ECB and BOE rate decisions on Thursday SYDNEY, Dec 12 (Reuters) – Asian stocks tumbled and the dollar strengthened on Monday at the start of a turbulent week as …

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Oil drops in volatile trade, records biggest weekly slump in months

WTI and Brent fall more than 10% over the week Deepest weekly drop since April for WTI, since August for Brent Market swings into contango, indicating weak demand Weak economic prospects in China, the United States and Europe weigh on demand Dec 9 (Reuters) – The price of oil stabilized on Friday in volatile trading, …

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FX swap debt a $80 trillion ‘blind spot’ global regulator says

LONDON, Dec 5 (Reuters) – Pension funds and other “non-bank” financial firms hold more than $80 trillion in hidden off-balance sheet dollar debt in foreign exchange swaps, the Bank for International Settlements (BIS) said. ). The BIS, dubbed the central bank of central banks around the world, also said in its latest quarterly report that …

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Musk delivers first Tesla truck, but no update on output, pricing

Tesla ships first Semi to PepsiCo five years after unveiling it No details on electric truck controls or capacity Semi uses existing Tesla motors to come up with a new Supercharger Dec. 1 (Reuters) – Tesla Inc. (TSLA.O) CEO Elon Musk delivered the company’s first Semi-Durable to PepsiCo on Thursday (PEP.O) without offering up-to-date forecasts …

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