Reuters | March 31, 2023
DUBAI (Reuters) -The United Arab Emirates’ central bank on Friday said it will cancel the license it granted last year to Russia’s MTS bank, which was placed under British and U.S. sanctions in February. Operations at the bank’s UAE branch, which is licensed in the emirate of Abu Dhabi, will be wound down within six […]
Reuters | March 29, 2023
(Reuters) -Jamie Dimon, the chief executive of JPMorgan Chase & Co, will be interviewed under oath over the bank’s relationship with late sex offender and former client Jeffrey Epstein, a lawyer involved in the case said on Tuesday. The deposition is expected in early May, according to Brad Edwards, a lawyer representing women who claim […]
Reuters | March 28, 2023
By Aditya Soni (Reuters) -Lyft Inc’s shares were down 3% in mid-day trading on Tuesday after incoming Chief Executive Officer David Risher said the ride-hailing firm was not for sale. The appointment of the new chief executive, who has run a non-profit for more than a decade, sparked some speculation that Lyft was preparing itself […]
Reuters | March 24, 2023
By Manya Saini (Reuters) – Shares of Twitter co-founder Jack Dorsey’s Block Inc fell 3% in afternoon trading on Friday, a day after the payments firm’s Cash App business became the latest target of U.S. short seller Hindenburg Research. In a report, Hindenburg alleged that Block overstated its user numbers and understated its customer acquisition […]
Reuters | March 22, 2023
By David Shepardson WASHINGTON (Reuters) -Chinese-owned short video app TikTok faces a “pivotal moment” as a growing number of U.S. lawmakers seek to ban the popular app over national security concerns, CEO Shou Zi Chew said. Chew said in a video posted on TikTok early on Tuesday that the app now has more than 150 […]
Reuters | March 22, 2023
(Updates Barclays view, money market expectations) (Reuters) – Most Wall Street banks expect the U.S. Federal Reserve to hike the benchmark interest rate by 25 basis points at the end of its two-day meeting on Wednesday, while money markets are leaning toward a pause as worries about a global banking crisis mount. In a quick […]
Reuters | March 21, 2023
(Reuters) – Investors stepped cautiously into bank stocks on Tuesday, emboldened by the rescue of Credit Suisse, with share prices inching tentatively higher amid continuing concerns about smaller U.S. lenders and further financial market ructions. DEVELOPMENTS * Attention now on this week’s meeting of the U.S. Federal Reserve, with traders wondering whether the central bank’s […]
Reuters | March 17, 2023
By Mehnaz Yasmin (Reuters) -SVB Financial Group said on Friday it filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators. The move to commence bankruptcy proceedings comes as emergency measures to shore up confidence […]
Reuters | March 17, 2023
By David Carnevali NEW YORK (Reuters) – A strong rebound by financials helped Wall Street’s main indexes close firmly positive on Thursday, after some of the country’s largest lenders came to the rescue of embattled First Republic Bank. The technology sector also contributed to the gains, helping to boost the Nasdaq Composite to its strongest […]
Reuters | March 15, 2023
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices increased solidly in February as Americans faced persistently higher costs for rents, posing a dilemma for the Federal Reserve, whose fight against inflation has been complicated by the collapse of two regional banks. Economists disagreed on whether the report from the Labor Department on Tuesday, which […]
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