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NEW YORK, Oct 5 (Reuters) - Sam Bankman-Fried's college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder's fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX.The special privileges granted to the hedge fund, Alameda Research, included a $65 billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow, he said. Alameda had withdrawn $8 billion from FTX by the time of the exchange's bankruptcy in November 2022,...

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 4, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Oct 5 (Reuters) - European stocks opened higher on Thursday, after a plunge in oil prices and softer U.S. labour data late on Wednesday helped bring U.S. Treasury yields back down from 16-year highs.Asian shares rebounded from 11-month lows overnight, following gains on Wall Street. China's mainland markets remain closed for holidays.U.S. yields have been rising in recent weeks as investors reprice the chance of the...

Private debt fundraising and deals slowIndustry tested by new high rate environmentLending squeeze set to aggravate default risksLONDON, Sept 7 (Reuters) - Direct lending, a key but expensive source of credit for riskier European firms that banks often shy away from, is running out of steam, a fresh sign that aggressive interest rate rises may be starting to cause funding stress and exacerbate economic pain.Fundraising and deal-making have dropped sharply at European private debt funds, new data shows.The European private credit industry, which flourished after the 2008 financial crisis as...