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WASHINGTON (Reuters) -The head of the U.S. Securities and Exchange Commission said on Wednesday the agency would soon consider establishing a classification for digital assets to help determine when they can be considered securities. “In the coming months, I anticipate that the Commission will consider establishing a token taxonomy” anchored in legal reasoning that distinguishes …

Wall St regulator to consider crypto token classification, chair says Read More »

By Ross Kerber and Manya Saini (Reuters) -The White House is exploring new measures to curb the influence of proxy advisers which conservatives have for years complained push liberal-leaning views, according to a financial industry official briefed on the matter. Trump administration officials are also exploring limits on how index-fund managers are allowed to vote, …

White House explores rules that would upend shareholder voting Read More »

By Manya Saini (Reuters) -The share of subprime borrowers at least 60 days behind on their auto loans rose to 6.65% in October, the highest level on record, according to Fitch Ratings data going back to the early 1990s. CONTEXT Subprime borrowing refers to lending to consumers with lower credit scores or limited credit histories, …

Record number of subprime borrowers miss car loan payments in October, data shows Read More »

By Indradip Ghosh BENGALURU (Reuters) -The U.S. Federal Reserve will again lower its key interest rate by 25 basis points next month to underpin a weakening labor market, according to 80% of economists polled by Reuters, up slightly from a poll taken last month.  That strengthening resolve contrasts with the clear disagreement among Federal Open …

Fed to cut rates again in December on weakening job market, say most economists: Reuters poll Read More »

By Foo Yun Chee and Lili Bayer BRUSSELS (Reuters) -Europe is looking to online platforms and influencers to help fight disinformation and promote democracy according to a European Commission strategy presented on Wednesday amid concerns over interference by foreign governments in national elections. Alphabet’s Google, Microsoft, Meta Platforms, Elon Musk’s X, TikTok and other online …

EU looks to Big Tech, influencers to fight hybrid threats, fake news Read More »

By Manya Saini (Reuters) -Skims, founded by reality TV star and entrepreneur Kim Kardashian along with Jens Grede, said on Wednesday it had raised $225 million in new capital, valuing the shapewear label at $5 billion. Kardashian’s ventures, including her cosmetics brand SKKN, have attracted young shoppers and benefited from her vast social media following. …

Kim Kardashian’s Skims raises new funding at $5 billion valuation Read More »