Reuters US Business

Exclusive-Crypto giant Binance controlled ‘independent’ US affiliate’s bank accounts

5 Jun 2023

By Angus Berwick and Tom Wilson LONDON (Reuters) – A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show. U.S. lender Silvergate Bank authorized the executive, Guangying Chen, a close associate of …

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Bed Bath & Beyond in talks to sell Buybuy Baby to Go Global Retail – WSJ

5 Jun 2023

(Reuters) – Bed Bath & Beyond Inc is in talks to sell its Buybuy Baby chain to retail investment firm Go Global Retail, the Wall Street Journal reported on Monday citing people familiar with the matter. Bed Bath & Beyond filed for bankruptcy in April and initiated a liquidation sale after struggling with weak demand …

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General Electric to sell over $2 billion stake in GE HealthCare

5 Jun 2023

(Reuters) – General Electric Co is offering 25 million of common stock, or an over $2 billion stake, in GE HealthCare Technologies Inc, according to a regulatory filing on Monday. Under the debt-for-equity exchange agreement, GE is expected to exchange 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley, GE HealthCare …

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US bank shares fall after Treasury debt issuance, proposed new capital requirements

5 Jun 2023

By Chibuike Oguh NEW YORK (Reuters) – Shares of U.S. banks fell on Monday with some investors pointing to worries that a flood of Treasury bill issuance following the raising of the U.S. debt ceiling would drain liquidity from lenders. The U.S. government is expected to issue $1 trillion or more of short-term debt to …

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OpenAI CEO sees ‘huge’ Israeli role in reducing risks from the technology

5 Jun 2023

By Steven Scheer TEL AVIV (Reuters) – OpenAI CEO Sam Altman predicted on Monday a “huge role” for Israel in reducing risks from artificial intelligence and eyed investment opportunities in the country even as it debates whether and how to regulate the technology behind ChatGPT. Altman is one of the tech world’s most prominent voices …

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Airbus A321XLR delays average 12 months across industry -Qantas

5 Jun 2023

ISTANBUL (Reuters) – Qantas Airways will receive its first Airbus A321XLR in December 2024, six months later than first planned, and the average industry delay in receiving the upcoming jet is 12 months, Chief Financial Officer Vanessa Hudson said on Monday. The remarks from the Australian airline, which is in the midst of a significant …

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U.S. judge allows 3M, Florida city to delay ‘forever chemicals’ trial

5 Jun 2023

By Maria Ponnezhath and Clark Mindock (Reuters) – A U.S. judge on Monday granted a delay of a trial in a lawsuit brought by a Florida city against industrial conglomerate 3M Co over water contamination from toxic “forever chemicals,” after the parties said they were close to a settlement. 3M shares were down about 3% …

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OpenAI mulling Israel investment opportunities, Microsoft says

5 Jun 2023

JERUSALEM (Reuters) – OpenAI is considering investment opportunities in Israel, Microsoft Corp quoted the company’s CEO, Sam Altman, as saying during a visit to the country on Monday. Microsoft, an OpenAI backer, hosted Altman at its Israel headquarters. (Writing by Dan Williams, Editing by Ari Rabinovitch)

United Airlines CEO expresses concern over competing carriers crossing Russia

5 Jun 2023

By Aditi Shah ISTANBUL (Reuters) – Competing airlines flying over Russia is a big issue, United Airlines CEO Scott Kirby told reporters on the sidelines of an aviation conference in Istanbul. Kirby said he worries if airlines flying over Russia carrying American citizens have to divert to a Russian airport because of medical or technical …

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Biden signs debt limit bill, avoiding U.S. default

5 Jun 2023

By Trevor Hunnicutt WASHINGTON (Reuters) -President Joe Biden on Saturday signed a bill that suspends the U.S. government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default with just two days to spare. The House of Representatives and the Senate passed the legislation this week after Biden and House of Representatives Speaker …

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