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(Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The U.S. House Financial Services Committee plans to hold a hearing in December to investigate the collapse of …

Bankman-Fried says he will testify before U.S. House committee Read More »

By David French (Reuters) – U.S. markets ended Monday lower, as investors spooked by better-than-expected data from the services sector re-evaluated their thinking on the Federal Reserve’s interest rate policy, while shares of Tesla slid on reports of a production cut in China. The electric-vehicle maker slumped on plans to cut December output of the …

Wall St drops as jitters over Fed rate hike policy return Read More »

(Reuters) – The chair of the U.S. House of Representatives Financial Services Committee demanded on Monday that Sam Bankman-Fried, founder and former CEO of the now-bankrupt crypto exchange FTX, testify before Congress on Dec. 13. “It is imperative that you attend our hearing on the 13th, and we are willing to schedule continued hearings if …

U.S. House committee chair says Bankman-Fried must testify next week Read More »

By Ross Kerber (Reuters) – Investors have proposed shareholder resolutions at two U.S. railroads calling for paid sick leave for workers, an issue that nearly caused a national rail strike, and they could go to an advisory vote at shareholder meetings in the spring. On Friday President Joe Biden signed legislation to block a rail …

U.S. railroad investor resolutions urge paid sick leave for workers Read More »

By Lisa Baertlein (Reuters) -The first electric delivery trucks rolled off production lines at BrightDrop’s new factory in Canada on Monday, when the upstart unit of General Motors Co also announced DHL Express Canada as its first customer outside the United States. GM spent seven months and more than $2 billion transforming its 2 million-square-foot …

GM’s BrightDrop signs first customer in Canada, unveils country’s first large EV factory Read More »

By David Shepardson WASHINGTON (Reuters) – United Auto Workers (UAW) President Ray Curry will face a run-off election against reform presidential candidate Shawn Fain, a court-appointed monitor said on Monday, after none of the five candidates captured a majority. Fain, who as a reform candidate wants the UAW to take a more confrontational approach in …

UAW president faces run-off election as reformers make gains Read More »

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Monday that AT&T agreed to pay a $6.25 million penalty to settle charges of disclosing nonpublic information to research analysts. AT&T agreed to pay the penalty and three company executives agreed to pay $25,000 apiece stemming from the charges brought in March 2021, the SEC …

AT&T settles SEC charge of disclosing nonpublic information to research analysts Read More »

SHANGHAI (Reuters) – Tesla Inc delivered 100,291 China-made electric vehicles (EVs) in November, the highest monthly sales since its Shanghai factory opened in late 2020, a Xinhua report said on Monday. The number marks a 40% increase from October and 89.7% more than a year earlier after the U.S. automaker ramped up output at the …

Tesla sold 100,291 China-made vehicles in Nov -Xinhua Read More »

By Christian Akorlie and Cooper Inveen ACCRA (Reuters) – Ghana will launch a domestic debt exchange on Monday, its Finance Minister Ken Ofori-Atta said, expressing confidence that the move would help restore macroeconomic stability and end the West African country’s worst economic crisis in a generation. Ofori-Atta said in a video address on Sunday that …

Ghana to swap domestic debt in fight to regain economic stability Read More »

By Fergal Smith TORONTO (Reuters) – As the Bank of Canada considers ditching oversized interest rate hikes, it is dealing with an economy likely more overheated than previously thought but also the bond market’s clearest signal yet that recession and lower inflation lie ahead. Canada’s central bank says that the economy needs to slow from …

Canada’s deep yield curve inversion adds to BoC rate hike dilemma Read More »