Wall St ends lower; strong retail sales stoke interest rate worries
July retail sales rise more than expectedNvidia gains as UBS, Wells Fargo raise PTU.S. big banks fall as a report...
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Hedge funds land bonuses despite returns below bank savings rates -Goldman
U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON, Aug 15 (Reuters) - Most...
Morning Bid: U.S. retail therapy as China funk deepens
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City,...
UBS pays $1.43 bln to settle US mortgage claims as industry-wide probe concludes
The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009 file photo. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsWASHINGTON/NEW YORK, Aug 14 (Reuters) - UBS (UBSG.S) agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the 2008 global financial crisis.The U.S. Department of Justice on Monday said it has collected more than $36 billion in civil fines from 19...
Exclusive: Canadian pension funds explore $6 bln sale of renewables firm Cubico -sources
NEW YORK, Aug 10 (Reuters) - Two of Canada's biggest pension funds are exploring options including a sale of Cubico Sustainable Investments that could value the renewable energy firm at about $6 billion or more, including debt, according to people familiar with the matter.Montreal-based Public Sector Pension (PSP) Investment Board and the Ontario Teachers' Pension Plan (OTPP) are looking to appoint a financial advisor in the coming weeks, the sources said, adding the sale could take several months to complete.The sources, who requested anonymity as the matter is confidential, cautioned...
US SEC to appeal from Ripple Labs court ruling
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May...
US trucking firm Yellow files for bankruptcy, blasts Teamsters
Company to wind down operationsThousands of workers at riskYellow intends to pay back U.S. government loanAug 7 (Reuters) - Some 30,000 workers at Yellow Corp (YELL.O) were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of the long-troubled carrier.The nearly 100-year-old company, which halted operations on July 30, has been a dominant player in the "less-than-truckload" segment that hauls cargo for multiple customers on a single truck.It laid blame for the bankruptcy,...
Founder of bankrupt crypto lender Celsius must face New York fraud lawsuit
Alex Mashinsky, founder and former CEO of bankrupt cryptocurrency lender Celsius Network, exits the Manhattan federal court in New York...
Wall Street ends down, investors step back after Fitch US rating cut
Fitch cuts US credit rating to AA+Wells Fargo slides on plan to help refill FDIC coffersU.S. private payrolls beat expectations...
Worldcoin says will allow companies, governments to use its ID system
Ricardo Macieira, regional manager, Europe holds the biometric imaging device, the Orb of the identity and financial public utility Worldcoin in his hands, to create a World ID digital passport, being able to trade in cryptocurrency issued, in Berlin, Germany August 1, 2023. REUTERS/Annegret HilseLONDON, Aug 2 (Reuters) - Worldcoin will expand its operations to sign up more users globally and aims to allow other organisations to use its iris-scanning and identity-verifying technology, a senior manager for the company behind the project told Reuters.Co-founded by OpenAI CEO Sam Altman, Worldcoin...