Year: 2023
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FTX resolves dispute with Bahamian liquidators
By Dietrich Knauth (Reuters) -Bankrupt crypto exchange FTX Trading on Tuesday announced a settlement with liquidators for FTX’s Bahamas unit, resolving a long-simmering dispute over whether the company’s U.S. bankruptcy proceedings should take precedence over the Bahamian liquidation. FTX and FTX Digital Markets have agreed to pool their assets and harmonize their approach to valuing…
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Three Republican senators oppose Nippon-U.S. Steel deal over national security
WASHINGTON (Reuters) -Three U.S. Republican senators on Tuesday urged Treasury Secretary Janet Yellen to block the $14.9 billion acquisition of U.S. Steel by Japan’s Nippon Steel, the world’s fourth largest steelmaker, citing national security concerns. Nippon clinched a deal on Monday to buy Pittsburgh-based U.S. Steel for $14.9 billion in cash, prevailing in an auction…
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Tesla moves to pause US agency lawsuit alleging race bias at factory
By Daniel Wiessner (Reuters) – Tesla Inc has asked a U.S. judge to pause a federal agency’s lawsuit accusing the electric carmaker of severe harassment of Black workers at its California assembly plant, saying two similar cases should play out first. Tesla, in a filing in San Francisco federal court on Monday, said the U.S.…
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Affirm offers ‘buy now, pay later’ loans at Walmart self-checkouts
By Siddharth Cavale (Reuters) -Affirm Holdings is offering its “buy now, pay later” loans for the first time at self-checkout kiosks at more than 4,500 Walmart U.S. stores, the lender said on Tuesday, sending its shares up as much as 16.1%. Buyers of at least $144 of products at Walmart, except groceries, can divide payments…
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New US rule targeting real estate money laundering reaches White House review
NEW YORK (Reuters) – A long-awaited U.S. rule aimed at curbing money laundering in real estate has reached a key White House office for review, the final hurdle for it to clear before it can be formally proposed next year. The rule, put forth by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), reached the…
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Apple to halt US sales of Series 9, Ultra 2 smartwatches over patent dispute
By Samrhitha A, Stephen Nellis and Blake Brittain (Reuters) -Apple said on Monday it would pause sales of its Series 9 and Ultra 2 smartwatches in the United States from this week, as it deals with a patent dispute over the technology that enables the blood oxygen feature on the devices. The move comes after…
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Nikola founder Trevor Milton sentenced to four years for fraud conviction
By Jody Godoy NEW YORK (Reuters) -Trevor Milton, the convicted founder of electric- and hydrogen-powered truck maker Nikola, was sentenced to four years in prison on Monday after a jury last year found him guilty of lying to investors about the company’s technology. Federal prosecutors in Manhattan said Milton misled investors by stating that Nikola…
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Goodbye, maybe, to the ‘great inflation scare’: World Bank blog
(Reuters) – The sharp rise in inflation that forced global central banks to drive up interest rates at the fastest pace in decades looks poised to continue to subside in coming months, though risks persist, World Bank economists said in a blog to be published Monday. Global demand is expected to moderate amid higher borrowing…
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Red Sea attacks force rerouting of vessels, disrupting supply chains
By John Davison and Phil Stewart DUBAI/TEL AVIV (Reuters) – Attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea are disrupting maritime trade and prompting U.S. efforts to build a coalition to deal with the threat, as freight firms reroute around the Cape of Good Hope to avoid the Suez Canal. The…
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Coinbase petitions court to review SEC denial of its request for crypto rules
(Reuters) – Coinbase filed a petition in a federal appeals court requesting a review of a decision by the U.S. Securities and Exchange Commission to deny the crypto exchange’s request for new rules for the digital asset sector. The five-member commission, in a 3-2 vote, said Friday it would not propose new rules because it…