(Reuters) – Wall Street’s top regulator on Monday gave the nod to new accounting standards set by a watchdog agency, part of an effort to address concerns about the prevalence of poor quality audits. The five-person U.S. Securities and Exchange Commission voted 3-2, with Republican members objecting to what they said was a hasty drafting…
By Hannah Lang (Reuters) – Losses from cryptocurrency-related frauds and scams increased 45% in 2023 from 2022, totaling more than $5.6 billion, as scammers increasingly took advantage of the speed and irreversibility of digital asset transactions, the U.S. FBI said Monday. WHY IT IS IMPORTANT Cryptocurrencies like bitcoin and ether have become more popular as…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Hedge fund Starboard Value has filed a shareholder resolution to do away with the dual-class shares that allow Rupert Murdoch to control News Corp, the publisher of the Wall Street Journal, according to people familiar with the matter. Starboard’s move comes as the 93-year-old media tycoon is locked…
By Allison Lampert and David Shepardson -Boeing said on Sunday it had reached a tentative agreement with a union representing more than 32,000 workers in the U.S. Pacific Northwest, in a deal that could help avert a possible crippling strike as early as Sept. 13. The proposed four-year agreement, which includes a general wage increase…
PARIS (Reuters) – Europe’s autos industry could face fines of 15 billion euros ($17.4 billion) for carbon emissions due to slowing demand for electric vehicles, Renault CEO Luca de Meo said on Saturday. Automakers face tougher EU CO2 targets in 2025 as the cap on average emissions from new vehicles sales falls to 94 grams/km…
(Reuters) – Elon Musk’s AI startup xAI has discussed a deal that would give it some revenue from Musk’s Tesla in exchange for providing the electric vehicle maker access to its technology and resources, the Wall Street Journal reported on Saturday. Under a proposed arrangement as described to investors, Tesla would license xAI’s artificial intelligence…
RIO DE JANEIRO (Reuters) -Mining companies Vale and BHP, together with their joint venture Samarco, may soon reach an agreement with Brazilian authorities to pay around 100 billion reais ($17.87 billion) for the collapse of a dam in the city of Mariana, said four sources familiar with the discussions. Three of the sources expect a…
(Reuters) -Ukraine’s foreign currency reserves were up to $42.3 billion as of Sept. 1, the central bank said on Friday. The reserves grew by 13.7% over the past month, the bank said in a statement. The reserves stood at $37.2 billion as of Aug. 1. “Such dynamics were driven by large inflows from international partners,…
By Lewis Krauskopf and David Randall NEW YORK (Reuters) – Uncertainty over the U.S. economy’s health is rippling through markets, adding fuel to an already-volatile period that has investors grappling with a shift in Federal Reserve policy, a tight U.S. election and worries over stretched valuations. U.S. stocks tumbled on Friday after closely watched jobs…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – A well-timed trade in GameStop’s options reaped a handsome profit on Friday after an account associated with “Roaring Kitty,” a stock influencer and longtime champion for the video game retailer, published a cryptic post on social media platform X. The post from “Roaring Kitty,” whose real name…
