By Laila Kearney NEW YORK (Reuters) -Oil dropped by about 2% on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to U.S. interest rates. Bre[...]
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Economy
FTX’s Sam Bankman-Fried cashed out $300 million during funding spree – WSJ
(Reuters) – FTX founder Sam Bankman-Fried sold a stake in the company worth $300 million when the crypto exchange raised capital last year, the Wall Street Journal reported on Friday, citing the[...]
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U.S. existing home sales plunge; tight inventory keeps prices rising
By Lucia Mutikani WASHINGTON (Reuters) – U.S. existing home sales tumbled for a record ninth straight month in October as the 30-year fixed mortgage rate hit a 20-year high and prices remained e[...]
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Deutsche Bank sued for $150 million in New York by exonerated trader who alleges coverup
By Jonathan Stempel NEW YORK (Reuters) – Deutsche Bank AG has been sued for $150 million by a former trader whose conviction for rigging the Libor rate benchmark was overturned, and who says the[...]
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Fitch affirms Mexico at ‘BBB-‘, notes “prudent” policies alongside muted growth
By Anthony Esposito MEXICO CITY (Reuters) – Fitch Ratings on Friday affirmed Mexico’s long-term local-currency and foreign-currency issuer default rating (IDR) at ‘BBB-‘, with[...]
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Bahamas regulator confirms FTX asset seizure after hack accusation
(Reuters) – The Securities Commission of The Bahamas said it had seized digital assets of FTX’s Bahamas unit, an action that the collapsed crypto exchange’s U.S.-based leadership ini[...]
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First TVs, now tortillas: U.S. companies set minimum prices to halt discounting
By Jessica DiNapoli NEW YORK (Reuters) – Makers of everything from toys to tortillas are increasingly setting minimum prices on their goods to maintain profits and limit price cutting as retaile[...]
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Europe’s STOXX 600 jumps more than 1% to end week higher
By Shreyashi Sanyal and Devik Jain (Reuters) -Europe’s STOXX 600 index closed higher on Friday in a broad-based rally led by retailers and automakers, while investors awaited minutes from the Eu[...]
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Explainer-Crypto lender Genesis plagued by contagion concern after FTX blowup
By Hannah Lang and Elizabeth Howcroft (Reuters) – The uncertain future of Genesis Global Capital, one of the biggest crypto lenders, is fueling concern that the recent collapse of crytpo exchang[...]
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