By Jonathan Stempel (Reuters) – Robinhood Markets on Thursday defeated an appeal by investors over the stock trading platform’s decision to restrict purchases of 13 “meme stocks” during a January 2021 frenzy that squeezed hedge funds. Customers who owned stocks such as AMC Entertainment, the former Bed Bath & Beyond and GameStop claimed in the …
Robinhood defeats investors’ appeal over meme stock frenzy Read More »
By Luc Cohen and Chris Prentice NEW YORK (Reuters) – The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists and other criminals to hide ill-gotten gains. The long-awaited rule is expected to require that real estate professionals …
US set to unveil long-awaited crackdown on real estate money laundering Read More »
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen will highlight the U.S. economy’s continuing resilience in a major speech in Las Vegas on Monday, touting the creation of 13 million new jobs and progress in driving down inflation, a Treasury official said. Yellen will speak at a training center operated by the …
Yellen to tout U.S. economy’s resilience, jobs recovery in major speech Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices increased moderately in July as higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture, a trend that could persuade the Federal Reserve to leave interest rates unchanged next month. The report from the Labor Department on Thursday also showed …
US inflation cooling as consumer prices rise moderately again Read More »
LISBON (Reuters) – Portugal’s Novo Banco said its lawyers were studying a ruling by a Lisbon court that Venezuela claims unblocks around $1.5 billion in Venezuelan state assets being held by the bank. Venezuela’s government has decried sanctions imposed by the United States that have led to banks freezing the country’s assets overseas, as well …
Novo Banco yet to decide on frozen Venezuelan funds after ruling Read More »
(Reuters) – Biotech firm Amyris Inc on Wednesday said it has filed for Chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company’s liquidity position. Amyris said it has secured a $190 million financing commitment to support day-to-day operations, adding that its entities outside the U.S. …
By Francesco Canepa FRANKFURT (Reuters) – The European Central Bank is on the back foot again and this time the bad news doesn’t come from Greece, Italy or any of the usual suspects in the bloc’s poorer south. The club’s biggest member and supposed powerhouse, Germany, has been hit by a toxic mix of weak …
Analysis-ECB is on back foot and for once it’s down to Germany Read More »
By Mohi Narayan, Laura Sanicola and Ahmad Ghaddar NEW DELHI/WASHINGTON/LONDON (Reuters) – Global refiners are raking in hefty gains, fuelled by a rebound from second-quarter lows in margins on making oil products such as diesel, jet fuel and gasoline, a trend that oil companies and experts expect will continue for the rest of 2023. Recovering …
Refiners make hay as global profit margins rebound Read More »
By Nevzat Devranoglu and Orhan Coskun ANKARA (Reuters) – Turkey’s net foreign exchange reserves surged nearly $5 billion last week, with total reserves up almost $2 billion, bankers’ calculations showed on Wednesday, resuming an uptrend since it adopted a more orthodox monetary policy following May elections. The rebuilding of the central bank’s currency buffer is …
Turkey net FX reserves seen rising again as policy U-turn continues Read More »
By Harry Robertson LONDON (Reuters) – Bond traders are eyeing a return to a type of trade that left them battered earlier this year – betting on yield curves returning to a more normal shape as slowing economies force central banks to cut interest rates. The shape of the yield curve has been in the …
Analysis-Bond traders prepare to brave ‘painful’ yield curve bets as rate hikes slow Read More »
