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By Jody Godoy (Reuters) – U.S. crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including NFL quarterback Tom Brady and comedian Larry David, claiming they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed on Tuesday night in Miami alleges that FTX …

FTX’s Bankman-Fried, Tom Brady and other celebrity promoters sued by crypto investors Read More »

By Amanda Cooper LONDON (Reuters) – The pound rose for a third day against the dollar on Thursday ahead of finance minister Jeremy Hunt’s new budget full of “tough but necessary” measures to control inflation. Hunt, who took over from Kwasi Kwarteng who served as chancellor under former Prime Minister Liz Truss, plans to tackle …

Sterling claws higher ahead of ‘tough but necessary’ UK budget Read More »

By Mathieu Rosemain PARIS (Reuters) -French construction-to-telecoms conglomerate Bouygues dropped its 4% profit margin target for its road-building business Colas on Thursday due to uncertainty over rising costs. Family-owned Bouygues, which has historically enjoyed stronger profitability at France’s biggest private TV broadcaster TF1 and its telecoms business, said it was not relevant to give a …

Cost uncertainty blurs road ahead for Bouygues’ Colas Read More »

BERLIN (Reuters) – German companies abroad remain mostly optimistic about business in the coming months despite nearly half of them expecting an economic downturn, according to a survey. Nearly 40% of the companies expect better business in the coming year while 42% see the current situation as unchanged, according to the AHK World Business Outlook, …

German firms abroad more optimistic than those at home about coming months – survey Read More »

(Reuters) – German shares led the gains among European stocks at the open on Thursday as Siemens jumped after posting an upbeat quarterly profit, while investors awaited the UK budget, which is expected to restore confidence in Britain’s economy. Germany’s DAX index rose 0.9%, while the continent-wide STOXX 600 index gained 0.3% by 0810 GMT. …

German shares lead Europe higher after Siemens’ profit beat Read More »

OSLO (Reuters) – Finland should strengthen the liquidity buffers of its banks to prepare for tighter global financial conditions putting pressure on the financial industry, the International Monetary Fund said in a review of the Nordic country on Thursday. “The tightening of global financial conditions will put pressure on Finland’s large and interconnected financial system …

Finland’s banks face pressure from global financial tightening, IMF says Read More »

ZURICH (Reuters) – Siemens will combine five of its businesses into an independent motors and drives company with revenue of around 3 billion euros ($3 billion), Chief Executive Roland Busch said on Thursday. The German engineering company said its large drives applications and Sykatec, a metal component maker and also part of its portfolio companies, …

Siemens to separate out 3 billion euro motors and drives business Read More »