By Laura Matthews NEW YORK (Reuters) – A shift to shorter settlement for U.S. securities transactions earlier this year had a greater-than-anticipated impact on market participants across the board, with Europe reporting the greatest hit, a Citigroup survey showed. The U.S. sped up its settlement cycle in May, requiring that equities, corporate and municipal bonds…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped against most major currencies on Wednesday after July U.S. job openings data signaled a softening labor market, tilting the odds further in favor of larger interest rate cuts by the Federal Reserve. Traders boosted bets that the Fed will deliver a half-a-percentage-point reduction at its…
By Kenrick Cai, Krystal Hu, Anna Tong SAN FRANCISCO/NEW YORK -Safe Superintelligence (SSI), newly co-founded by OpenAI’s former chief scientist Ilya Sutskever, has raised $1 billion in cash to help develop safe artificial intelligence systems that far surpass human capabilities, company executives told Reuters. SSI, which currently has 10 employees, plans to use the funds…
By Jeff Mason WASHINGTON (Reuters) -U.S. President Joe Biden is preparing to block Nippon Steel’s acquisition of U.S. Steel, a source said on Wednesday. The move by Biden would deal a blow to the proposed $14.9 billion deal. The president has previously expressed concern over Nippon’s deal to buy the 122-year-old iconic U.S. steelmaker. U.S….
