HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

Deal comes amid pressure from Chinese shareholder Analysts hail ‘sensitive’ transaction Bank could return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout … Read more

Trump snubs Twitter after Musk announces reactivation of ex-president’s account

Trump snubs Twitter after Musk announces reactivation of ex-president's account

Nov 19 (Reuters) – Donald Trump on Saturday said he had no interest in returning to Twitter even as a slim majority voted in favor of reinstating the former US President, who was banned from the social media service for inciting violence, in a poll organized by new owner Elon Musk. Slightly over 15 million … Read more

After Elon Musk’s ultimatum, Twitter employees start exiting

After Elon Musk's ultimatum, Twitter employees start exiting

Nov 17 (Reuters) – Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for “long hours at high intensity,” or leave. In a poll on the workplace app Blind, which verifies employees through their work email addresses and … Read more

Sam Bankman-Fried’s sudden turn from white knight to washout

Sam Bankman-Fried's sudden turn from white knight to washout

Nov 11 (Reuters) – Sam Bankman-Fried earned a reputation as a savior of the crypto industry when he bailed out two platforms earlier this year. But when FTX, the exchange he co-founded and led until Friday, needed a lifeline, none was forthcoming. Until this week, the 30-year-old American was seen as a darling in digital … Read more

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

FTX's Bankman-Fried scrambles for funds after Binance deal collapse

HONG KONG/SINGAPORE/NEW YORK, Nov 10 (Reuters) – FTX Chief Executive Sam Bankman-Fried on Thursday launched an urgent push to raise funds to save his firm as the crypto exchange looks to plug a reported $8 billion hole in its finances, according to tweets and a memo to employees. Bankman-Fried said he was in talks with … Read more

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Exclusive: Behind FTX's fall, battling billionaires and a failed bid to save crypto

Nov 10 (Reuters) – (This story contains language some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that … Read more

Binance plans to buy FTX’s non-US operations in latest crypto bailout

Binance plans to buy FTX's non-US operations in latest crypto bailout

WASHINGTON/LONDON, Nov 8 (Reuters) – Crypto giant Binance signed a nonbinding agreement to buy rival FTX’s non-US unit, FTX.com, to help cover a “liquidity crunch” at the cryptocurrency exchange, the companies said on Tuesday, in a surprise move that raised fresh concerns about the risks investors face in the volatile crypto market. Binance CEO Changpeng … Read more

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Buffett's Berkshire loses money as stocks, Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analyst forecasts. Berkshire benefited from increased demand and prices … Read more

Elon Musk says he was joking about buying Manchester United

Elon Musk says he was joking about buying Manchester United

Aug 17 (Reuters) – Elon Musk, the world’s richest person, said early on Wednesday that he was joking when he tweeted hours previously that he was going to buy currently struggling English football club Manchester United Plc (MANU.N). “No, this is a long-running joke on Twitter. I’m not buying any sports teams,” Musk posted when … Read more

Spirit ends sale to Frontier as JetBlue talks continue

Spirit ends sale to Frontier as JetBlue talks continue

July 27 (Reuters) – Spirit Airlines Inc (SAVE.N) canceled its $2.7 billion sale to Frontier Group Holdings Inc (ULCC.O) on Wednesday after Spirit shareholders balked at supporting it, leaving JetBlue Airways Corp (JBLU.O) with an opening to clinch a deal. The development, first reported by Reuters on Wednesday, came after Spirit pushed back a shareholder … Read more