Reuters US Business

By Dietrich Knauth (Reuters) -Bankrupt crypto exchange FTX has sued the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, accusing them of wrongly claiming ownership of the exchange’s assets. FTX Trading, led by new CEO John Ray, on Sunday asked a U.S. bankruptcy judge in Delaware to rule that FTX Digital Markets …

FTX sues liquidators of its Bahamian affiliate over crypto exchange ownership Read More »

(Reuters) -Canada’s Ritchie Bros Auctioneers Inc said on Monday it had completed the acquisition of U.S. auto retailer IAA Inc, weeks after two proxy advisory firms urged shareholders to reject the $7 billion deal. The company, which auctions and sells used heavy industrial equipment, last week saw its shareholders vote in favor of the acquisition …

Ritchie Bros completes $7 billion IAA acquisition Read More »

By David Shepardson WASHINGTON (Reuters) -TikTok said on Monday the short-video sharing app now has 150 million monthly active users in the United States, up from 100 million it said it had in 2020. The Chinese-owned app confirmed the figure ahead of TikTok CEO Shou Zi Chew’s testimony set for Thursday before the House Energy …

TikTok hits 150 million U.S. monthly users, up from 100 million in 2020 Read More »

By Fergal Smith (Reuters) – Canada’s main stock index rose on Monday, helped by gains for resource and financial shares, as some calm returned to global financial markets after the turmoil in the banking sector. The Toronto Stock Exchange’s S&P/TSX composite index ended up 131.71 points, or 0.7%, at 19,519.43. U.S. stocks were also higher …

Energy shares help Toronto market to relief rally Read More »

By Howard Schneider WASHINGTON (Reuters) – Utah homebuilder Ivory Homes still has a pipeline of several hundred houses under construction, but CEO Clark Ivory isn’t pulling permits for any more at this point, and in a year of retrenchment for the single-family home industry, he has laid off just under 10% of his workers. But …

The canary is alive and chirping a year into Fed’s rate hiking cycle Read More »

(Reuters) – Goldman Sachs lowered its crude price forecast for this year and 2024, citing a recent slump in oil prices due to banking stress, recession fears, and an exodus of investor flows. “The first leg down in oil prices followed Powell’s hint at a potential return to 50 points hikes on March 7th, which …

Factbox-Goldman Sachs lowers oil price forecasts for 2023, 2024 Read More »

(Reuters) -Goldman Sachs Group Inc traders were preparing to take bids on claims against Credit Suisse Group’s riskiest bonds, Bloomberg News reported on Sunday, citing people familiar with the matter. Clients were told in a message late Sunday that the New York-based bank would soon start trading claims in the so-called additional tier 1 bonds, …

Goldman Sachs prepares claims trading for wiped-out Credit Suisse debt – Bloomberg News Read More »

(Reuters) – The U.S. Federal Reserve on Sunday said it had joined with the Bank of Canada, Bank of England, Bank of Japan, European Central Bank and Swiss National Bank in a coordinated action to enhance the provision of liquidity through the standing U.S. dollar swap line arrangements. The move came on the heels of …

Fed, other central banks set joint liquidity operation Read More »