By Luc Cohen NEW YORK (Reuters) -A U.S. judge intimated on Thursday that Sam Bankman-Fried might deserve to be jailed pending trial after prosecutors suggested that the indicted FTX co-founder might have tampered with witnesses while out on bail. At a hearing in Manhattan federal court, U.S. District Judge Lewis Kaplan challenged prosecutors on their …
Judge on Bankman-Fried: ‘Why am I being asked to turn him loose?’ Read More »
By Johann M Cherian and Noel Randewich (Reuters) – Wall Street ended sharply lower on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the U.S. Federal Reserve will keep raising interest rates to tame high prices. A Labor Department report showed the highest rise in producer …
Wall Street ends down sharply as data fuels rate-hike worries Read More »
By David Shepardson WASHINGTON (Reuters) – U.S. Senate Commerce Committee chair Maria Cantwell on Thursday asked Southwest Airlines to provide a full accounting of all refunds issued and denied after a December technological meltdown led to the cancellation of 16,700 flights. The Washington senator asked Southwest Airlines Chief Operating Officer Andrew Watterson for detailed data …
U.S. senator seeks ‘full accounting’ of Southwest Airlines meltdown refunds Read More »
SAO PAULO (Reuters) – Brazilian retailer Americanas SA on Thursday failed to reach a deal on proposal to creditors that included a multi-billion-real capital injection by key shareholders as part of its bankruptcy process. Americanas, which has the billionaire trio that founded 3G Capital as reference shareholders, entered bankruptcy protection earlier this year after uncovering …
Brazil’s Americanas makes offer to creditors but no deal reached Read More »
By John McCrank NEW YORK (Reuters) – It’s crunch time for the corporate loan market. With under five months until the June 30 end-date for the publication of the London Interbank Offered Rate, around 80% of institutional loans and collateralized debt obligations (CLOs) – securities backed by pools of debt – are still tied to …
Analysis-Clock ticking for loan market as Libor nears its end Read More »
SHANGHAI (Reuters) – Tesla plans to slow production at its Shanghai plant in the last week of February to prepare for building a revamped version of its Model 3 sedan, according to a person with knowledge of the matter and a planning memo seen by Reuters. The move was first reported by Bloomberg News. The …
Explainer-What’s known about Tesla’s “Project Highland”? Read More »
AMSTERDAM (Reuters) – Amazon.com has granted 1.5 million euros ($1.6 million) to a Dutch project testing the viability of commercially growing seaweed in between turbines of offshore wind farms, the company and organisers said on Thursday. The project, led by non-profit group North Sea Farmers, will also research the potential of using seaweed for carbon …
Amazon grants 1.5 million euros to Dutch seaweed farm project Read More »
(Reuters) – U.S. insurer American International Group reported a near 24% fall in fourth-quarter profit on Wednesday, hurt by losses tied to a winter storm that hit parts of North America late last year, and lower alternate investment income. Property damage, floods and power outages from frigid conditions in the United States and Canada in …
Insurer AIG profit shrinks as storm-related costs, weak investment returns hit Read More »
By Johann M Cherian and Noel Randewich (Reuters) – The S&P 500 ended higher on Wednesday after stronger-than-expected retail sales data offered evidence of resilience in the U.S. economy, but gains were capped as investors worried about more interest rate hikes by Federal Reserve in the months ahead. A Commerce Department report showed retail sales …
S&P 500 ends higher after strong retail sales data Read More »
MEXICO CITY (Reuters) – Walmart’s Mexico unit on Wednesday posted a nearly 12% jump in its fourth-quarter net profit from the year earlier period, with 14.82 billion pesos. Revenue for the company stood at 237.82 billion pesos for the quarter. (Reporting by Valentine Hilaire and Marion Giraldo; Editing by Daina Beth Solomon)
