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NEW YORK (Reuters) – CoinEx was sued on Wednesday by New York Attorney General Letitia James, who accused the cryptocurrency exchange of transacting business without registering with the state. In a complaint filed with a New York state court in Manhattan, James said CoinEx’s activities violated the Martin Act, a powerful state law used to …

New York sues CoinEx, says cryptocurrency exchange failed to register with state Read More »

By Michael S. Derby WASHINGTON (Reuters) -At their last monetary policy meeting, Federal Reserve officials mulled financial stability risks that existed in part due to their aggressive campaign of rate rises, as they also expressed concern over the political fight among elected officials over raising the country’s debt limit. At the Federal Open Market Committee …

Fed minutes show officials mulled financial stability risk amid aggressive hikes Read More »

(Reuters) -Ecommerce company EBay Inc on Wednesday forecast first-quarter revenue above Wall Street estimates on hopes that cost-conscious shoppers would be attracted towards its used and refurbished product category in the face of a looming recession. Shares of the San Jose, California- based company rose nearly 2% in trading after the bell. The company forecast …

EBay forecasts first-quarter revenue above estimates Read More »

By Daniel Wiessner The National Labor Relations Board has ruled that laid-off workers cannot be required to sign agreements that contain confidentiality clauses and other provisions that could deter them from exercising their rights under federal labor law in exchange for receiving severance. The board in a 3-1 decision on Tuesday overturned a pair of …

U.S. labor board limits gag clauses in severance agreements Read More »

(Reuters) – Etsy Inc on Wednesday topped Wall Street expectations for quarterly revenue, benefiting from steady demand for products offered on its e-commerce platform such as home goods, clothes, jewelry and accessories. Shares of the company rose about 6% in extended trading. The company’s net revenue rose to $807.2 million in the quarter from $717.1 …

Etsy tops quarterly revenue estimates on steady demand Read More »

(Reuters) – Bumble Inc beat fourth-quarter revenue estimates on Wednesday, as more people subscribed to its dating app during the holiday season in search of companionship. The company reported revenue of $241.6 million in the quarter ended Dec. 31, compared with analysts’ estimate of $235.9 million, according to Refinitiv data. (Reporting by Samrhitha Arunasalam and …

Bumble beats quarterly revenue estimates Read More »

(Reuters) – Lucid Group Inc said on Wednesday it expects to make at least 10,000 cars this year, as the company looks to capture a larger chunk of the electric-vehicle market amid a price war started by Tesla Inc. Lucid expects to produce 10,000 to 14,000 of its luxury electric vehicles in 2023, up from …

Lucid expects to make at least 10,000 electric cars in 2023 Read More »

By David French (Reuters) – The S&P 500 extended its losing streak to four sessions as Wall Street closed broadly down on Wednesday, with traders cautious despite the latest guidance on rate policy from the U.S. central bank showing few surprises. Minutes from the Federal Reserve’s Jan. 31-Feb. 1 meeting said that “almost all” Fed …

S&P closes lower as Fed minutes fail to halt losing run Read More »

(Reuters) – Jim Chanos is short on General Electric Co, the billionaire investor said in a CNBC interview on Wednesday. Chanos added the company’s fair value was “way below” its current stock price, which pared gains after the comment and was last trading up 0.6% at $82.63. GE in January forecast a lower-than-expected full-year adjusted …

Billionaire investor Jim Chanos says short on GE shares – CNBC Read More »

(Reuters) -U.S. fund KKR & Co Inc has extended a non-binding offer for Telecom Italia’s (TIM) prized landline grid by four weeks to March 24 following a government request, Italy’s biggest phone group said late on Tuesday. TIM said the extension of the deadline is due to a request by the Italian government to have …

KKR extends bid for Telecom Italia’s grid upon govt request Read More »