Women sue Deutsche Bank, JPMorgan over Epstein ties

Women sue Deutsche Bank, JPMorgan over Epstein ties

Nov 24 (Reuters) – Women who have accused Jeffrey Epstein of sexual abuse filed lawsuits against Deutsche Bank AG (DBKGn.DE) and JPMorgan Chase & Co (JPM.N) on Thursday, alleging the banks financially benefited from the late financier’s alleged sex trafficking operations. The women, who were not identified in the court filings, cite US federal anti-sex … Read more

Investors batten down ahead of Fed minutes, Eurozone recession fears grow

Investors batten down ahead of Fed minutes, Eurozone recession fears grow

Fed minutes awaited US Thanksgiving public holiday on Thursday Stock eke out slim gains globally Euro zone economic data points to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global shares were little changed on Wednesday as investors kept their eyes peeled for the minutes of a Federal Reserve meeting that … Read more

ECB begins great cash mop-up as banks repay 296 bln euros of loans

ECB begins great cash mop-up as banks repay 296 bln euros of loans

Repayment much lower than expected Key money-market rate falls after announcement Move seen as first step towards bond unwind FRANKFURT, Nov 18 (Reuters) – Euro zone banks are set to repay nearly 300 billion euros ($310 billion) in loans to the European Central Bank next week, the ECB said on Friday, the biggest cash withdrawal … Read more

US judge declares Biden’s student debt relief plan unlawful

US judge declares Biden's student debt relief plan unlawful

Nov 10 (Reuters) – A federal judge in Texas on Thursday ruled that President Joe Biden’s plan to cancel hundreds of billions of dollars in student loan debt was unlawful and must be vacated, delivering a victory to conservative opponents of the program. US District Judge Mark Pittman, an appointee of former Republican President Donald … Read more

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

FTX's Bankman-Fried scrambles for funds after Binance deal collapse

HONG KONG/SINGAPORE/NEW YORK, Nov 10 (Reuters) – FTX Chief Executive Sam Bankman-Fried on Thursday launched an urgent push to raise funds to save his firm as the crypto exchange looks to plug a reported $8 billion hole in its finances, according to tweets and a memo to employees. Bankman-Fried said he was in talks with … Read more

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Exclusive: Behind FTX's fall, battling billionaires and a failed bid to save crypto

Nov 10 (Reuters) – (This story contains language some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that … Read more

Musk sells Tesla shares worth $3.95 bln days after Twitter takeover

Musk sells Tesla shares worth $3.95 bln days after Twitter takeover

Nov 8 (Reuters) – Tesla Inc. (TSLA.O) Chief Executive Officer Elon Musk has sold $3.95 billion worth of shares in the electric vehicle maker, according to US regulatory filings, days after he completed his purchase of Twitter Inc for $44 billion. Musk, whose net worth dropped below $200 billion after investors dumped Tesla stock, unloaded … Read more

Xi opposing nuclear weapons in Ukraine was reason enough to visit China, Scholz says

Xi opposing nuclear weapons in Ukraine was reason enough to visit China, Scholz says

Must prepare for scenario where ties with China sour Comments come day after Scholz trip to Beijing Tells German CEOs to diversify away from China BERLIN, Nov 5 (Reuters) – German Chancellor Olaf Scholz, who was heavily criticized for a trip to Beijing this week, said on Saturday his and Chinese President Xi Jinping’s joint … Read more

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Buffett's Berkshire loses money as stocks, Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analyst forecasts. Berkshire benefited from increased demand and prices … Read more

Sterling falls as BoE expects recession, US futures up

Sterling falls as BoE expects recession, US futures up

Bank of England hikes rates by 50 basis points BoE expects recession throughout 2023 Fed official: 50bp hike in Sept “reasonable” Oil stabilized after hitting six-month low Lufthansa returns to operating profit LONDON, Aug 4 (Reuters) – Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro … Read more