Reuters US Business

By Carolina Mandl, David French and Svea Herbst-Bayliss NEW YORK (Reuters) – The practice of short selling is coming under increased scrutiny as shares of regional banks remain under pressure, with some calls for more regulatory oversight of the practice. Short sellers, who borrow shares they expect to fall and hope to repay the loan …

Short selling comes under fire as regional banks sell off Read More »

(Reuters) -Cryptocurrency exchange Coinbase Global Inc posted a smaller-than-expected first-quarter loss on Thursday after investors tiptoed back to the strained asset class to hedge their bets against a worsening economic backdrop. The San Francisco-based company’s net loss narrowed to $78.9 million in the three months ended March, from $429.7 million in the year-ago quarter. On …

Crypto exchange Coinbase posts smaller first-quarter loss Read More »

By Dietrich Knauth (Reuters) – Bankrupt crypto exchange FTX received U.S. bankruptcy court permission on Thursday to sell its LedgerX business for $50 million, raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey signed off on FTX’s sale of LedgerX, its non-bankrupt crypto derivatives trading platform, to …

FTX gets approval for LedgerX sale, asserts $3.9 billion Genesis claim Read More »

By Doyinsola Oladipo NEW YORK (Reuters) -Expedia Group Inc on Thursday beat Wall street estimates for first-quarter revenue on record lodging bookings and increased international travel demand. Shares of the company rose 4.3% in trading after the bell. “The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the …

Expedia Group beats Street estimates on record lodging bookings Read More »

By Lewis Krauskopf and David Randall NEW YORK (Reuters) – The end of a market-punishing rate hiking cycle may be in sight, but uncertainty over stock valuations and the economic outlook is keeping investors on alert for more turbulence ahead. The Federal Reserve on Wednesday signaled it may pause interest rate increases after raising rates …

Analysis-Fed’s hiking pause may not signal all-clear for US stocks Read More »

By Nandita Bose WASHINGTON (Reuters) – The White House will host CEOs of top artificial intelligence companies, including Alphabet Inc’s Google and Microsoft, on Thursday to discuss risks and safeguards as the technology catches the attention of governments and lawmakers globally. Generative artificial intelligence has become a buzzword this year, with apps such as ChatGPT …

White House to meet Microsoft, Google CEOs on AI dangers Read More »

(Reuters) – Hundreds of lawsuits have been filed over the terms of the emergency deal to save Credit Suisse by selling it to Swiss banking rival UBS, a Swiss court has said. The 3 billion Swiss franc ($3.35 billion) rescue, hammered out over a March weekend amid turmoil in the global banking sector, upended a …

Factbox-Lawsuits lodged over state-backed Credit Suisse takeover Read More »

By Victoria Waldersee BERLIN (Reuters) -Volkswagen sees higher competition later this year as supply chain bottlenecks ease and China’s electric car market heats up, the carmaker said on Thursday, adding that it put margins over volume even as it fights to maintain market share. The company was emboldened to stick to its annual outlook of …

Volkswagen sees growing competition ahead as revenue jumps on Europe, US Read More »

(Reuters) -Marathon Oil Corp and APA Corp on Wednesday topped first-quarter profit estimates, as the U.S. shale producers benefited from elevated levels of crude prices amid tight supplies, higher demand and output. Shares of APA rose 3% in extended trade, while those of Marathon climbed 1%. Global energy markets have been volatile during the first …

Marathon, APA profits beat on higher oil price, tighter supply Read More »