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 rebuffed by judge in New York fraud lawsuit, trial date set

Trump rebuffed by judge in New York fraud lawsuit, trial date set

NEW YORK, Nov 22 (Reuters) – A New York judge has scheduled an October 2023 trial to form US President Donald Trump, three of his adult children and the Trump Organization in a lawsuit brought by New York Attorney General Letitia James accusing them of fraudulently overvaluing the real estate company’s assets and Trump’s net … Read more

North Korea fires suspected intercontinental ballistic missile, lands near Japan

North Korea fires suspected intercontinental ballistic missile, lands near Japan

SEOUL/TOKYO, Nov 18 (Reuters) – North Korea fired a suspected intercontinental ballistic missile on Friday that landed just 200 kilometers (130 miles) off Japan and had sufficient range to reach the mainland of the United States, Japanese officials told reporters. The launch, reported by both South Korean and Japanese officials, comes a day after a … Read more

Russia’s Lavrov dismisses report that he was taken to hospital at G20

Russia's Lavrov dismisses report that he was taken to hospital at G20

Lavrov dismisses Associated Press report AP: Lavrov was treated for heart condition Bali governor: Lavrov had checks in hospital, in good health NUSA DUA, Indonesia, Nov 14 (Reuters) – Russian Foreign Minister Sergei Lavrov on Monday dismissed a news agency report that he had been taken to hospital with a heart condition, scolding Western journalists … 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

EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

FTX founder Bankman-Fried secretly moved $10 billion in funds to trading firm Alameda – sources Bankman-Fried showed spreadsheets to colleagues that revealed shift in funds to Alameda – sources Spreadsheets indicated between $1 billion and $2 billion in client money is unaccounted for – sources Executives set up book-keeping “back door” that thwarted red flags … 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

No-boom, no-bust economy dogs Democrats in US midterm elections

No-boom, no-bust economy dogs Democrats in US midterm elections

WASHINGTON, Nov 7 (Reuters) – Household cash is near record levels in the United States, and consumers are using it to pack restaurants and airplanes and buy new cars. Jobs are there for taking. Net worth is 30% higher than before the pandemic, more so for those in the bottom half. And people have soured … Read more