By Kylie Madry MEXICO CITY (Reuters) – The Mexican government is no longer planning on moving up the timeline to pay off some $4.2 billion in outstanding bonds issued to finance a partly built airport on the outskirts of Mexico City that was later canceled, a senior transport official said on Friday. The canceled Texcoco …
Mexico walks back faster bond payoff for canceled airport Read More »
By Jonathan Stempel NEW YORK (Reuters) -Alex Mashinsky, the founder and former chief of the now-bankrupt cryptocurrency lender Celsius Network, must face a lawsuit by New York Attorney General Letitia James accusing him of civil fraud, a Manhattan state court judge ruled on Friday. Justice Margaret Chan said the attorney general sufficiently alleged that Mashinsky …
Founder of bankrupt crypto lender Celsius must face NY fraud lawsuit Read More »
By Carolina Mandl NEW YORK (Reuters) – A highly awaited inflation report and elevated bond yields offer the latest test to a U.S. stock rally that has delivered hefty gains this year. The benchmark S&P 500 index is up 16.6% year to date, fueled by an improving economic outlook, excitement over developments in artificial intelligence …
Inflation report, bond yields in focus as U.S. stocks rally pauses Read More »
By Jody Godoy (Reuters) – The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc $1.5 million on Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections. The SEC said Canoo, former CEO Ulrich Kranz and Paul Balciunas, its former chief financial …
US fines Canoo $1.5 million over revenue projection reporting Read More »
By Carolina Mandl NEW YORK (Reuters) – Global hedge funds increased their bets that stocks will fall in a week when bonds yields rose after the United States’ credit rating was downgraded, a Goldman Sachs report on Friday showed. Hedge funds added 4.6 short positions to each long position from July 7 to Aug. 3. …
By Dietrich Knauth NEW YORK (Reuters) – Oxycontin maker Purdue Pharma on Friday asked the U.S. Supreme Court to reject the U.S. Department of Justice’s request to delay its multi-billion-dollar bankruptcy settlement resolving thousands of lawsuits against it over the opioid epidemic. The department’s bankruptcy watchdog last week asked the Supreme Court to pause the …
Purdue asks Supreme Court not to block opioid settlement during US appeal Read More »
By Akash Sriram and Abhirup Roy (Reuters) -Nikola lost more than a quarter of its market value on Friday after the U.S. electric truck maker named its fourth CEO in as many years and reiterated for the third time this year its doubts about continuing as a going concern. The news came a day after …
Nikola shares plummet 26% as electric truck maker names 4th CEO in 4 years Read More »
By Chris Prentice NEW YORK (Reuters) -Coinbase Global on Friday asked a judge to end the U.S. Securities and Exchange Commission’s lawsuit accusing the world’s largest publicly traded cryptocurrency exchange of violating federal securities laws. In a filing in federal court in Manhattan, Coinbase said the SEC had no authority to pursue its lawsuit because …
Coinbase ask US federal judge to toss SEC’s lawsuit Read More »
By Niket Nishant (Reuters) -Activist investor Carl Icahn’s eponymous firm cut its dividend in half on Friday, just a few months after a prominent short-seller went after the company’s payout structure that triggered a selling frenzy in its shares. Icahn Enterprises shares closed 23% lower on Friday, and have shed more than half of their …
Carl Icahn’s firm cuts dividend in half after short-seller attack, shares slump Read More »
(Reuters) – JPMorgan’s chief economist said on Friday the bank is no longer forecasting a U.S. recession this year and has raised its economic growth estimate as the economy expands at a “healthy pace.” The firm increased its current-quarter real annualized GDP growth estimate to 2.5% from 0.5%, Michael Feroli wrote in a research note …
JPMorgan raises US economic growth estimate, no longer expects 2023 recession Read More »
