archiveNEWS1

NEW YORK, Nov 2 (Reuters) - The jury in Sam Bankman-Fried's fraud trial began deliberations on Thursday following a monthlong trial in which prosecutors accused the FTX cryptocurrency exchange founder of stealing billions of dollars of customer funds.Bankman-Fried is poised to learn his fate in Manhattan federal court nearly a year after FTX declared bankruptcy as its customers raced to withdraw their funds in a collapse that shocked cryptocurrency markets and obliterated the 31-year-old's fortune, once estimated by Forbes at $26 billion.Bankman-Fried has pleaded not guilty to two counts of...

Nov 1 (Reuters) - The Federal Deposit Insurance Corporation (FDIC) is investigating potential misconduct by executives and board members of First Republic Bank (FRCB.PK), raising the prospect of stiff penalties for the failed bank's former bosses."We can confirm a D&O probe into First Republic is taking place," a spokesperson told Reuters on Wednesday, referring to the bank's directors and officers. The regulator did not provide further details.The investigation, which has not previously been reported, is the third the FDIC has opened into bank failures earlier this year which cost the...

Central bank's policy rate remains in 5.25%-5.50% rangeFed says economy grew at 'strong' pace in third quarterTraders add to bets that Fed is done raising ratesWASHINGTON, Nov 1 (Reuters) - The Federal Reserve held interest rates steady on Wednesday as policymakers struggled to determine whether financial conditions may be tight enough already to control inflation, or whether an economy that continues to outperform expectations may need still more restraint.Fed Chair Jerome Powell said the situation remained something of a riddle, with U.S. central bank officials willing to raise rates again...

Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsMeta could be fined up to 4% of its global turnoverMeta says in process of complyingOSLO, Nov 1 (Reuters) - The European data regulator has agreed to extend a ban imposed by non-EU member Norway on "behavioural advertising" on Facebook and Instagram to cover all 30 countries in the European Union and the European Economic Area, it said on Wednesday.The ban on such advertising, which targets users by harvesting their data, is a...

WASHINGTON, Oct 31 (Reuters) - Two of President Joe Biden's top advisers asked U.S. lawmakers to provide billions more dollars to Israel on Tuesday at a congressional hearing interrupted repeatedly by protesters denouncing American officials for backing what they called "genocide" against Palestinians in Gaza.Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin testified to the Senate Appropriations Committee on Biden's request for $106 billion to fund ambitious plans for Ukraine, Israel and U.S. border security.Arguing that supporting U.S. partners is vital to national security, Biden requested $61.4...