By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve announced Thursday it had imposed an enforcement action against Customers Bancorp for “significant deficiencies” around the bank’s risk management and anti money-laundering practices. The bank’s stock fell sharply after the Fed announced the action, falling over 20% in midday trading. The enforcement action against the […]
Crypto exchange FTX ordered to pay $12.7 billion to customers, US CFTC says
(Reuters) -A U.S. court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7 billion in relief to its customers, the Commodity Futures Trading Commission said on Thursday. In March, FTX founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing $8 billion from customers. “The order requires FTX to pay $8.7 billion in […]
Turkey blocks Roblox access over abuse concerns, justice minister says
GDANSK (Reuters) – Turkey has blocked access to the popular video game platform Roblox over concerns about content that could lead to child abuse, the country’s justice minister said. “Our country is obliged to take the necessary measures to ensure the protection of our children,” Justice Minister Yilmaz Tunc said on social media platform X. […]
How chip giant Intel spurned OpenAI and fell behind the times
By Max A. Cherney SAN FRANCISCO (Reuters) – For U.S. chip giant Intel, the darling of the computer age before it fell on harder times in the AI era, things might have been quite different. About seven years ago, the company had the chance to buy a stake in OpenAI, then a fledgling non-profit research […]
Indexes fall with tech shares; trade choppy, Treasury auction weak
By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks were lower in choppy trading on Wednesday afternoon, rising early with technology shares and then falling in tandem with them as investor jitters were stoked by weak demand in a 10-year Treasury auction. With investors still nervous after a recent steep selloff in global stocks, equities pared […]
Cannabis producer Demecan nears 100-million-euro valuation after fresh funding, source says
By Sourasis Bose (Reuters) – Demecan Group, one of Germany’s largest cannabis producers, recently completed its latest round of funding, bringing its valuation close to 100 million euros ($109.24 million), a person familiar with the matter told Reuters on Wednesday. The funding round was led by Florida-based Trog Hawley Capital, marking the first institutional investment […]
Lumen Technologies shares extend AI-fueled surge after rosy cash-flow outlook
NEW YORK (Reuters) – Shares of Lumen Technologies surged 30% on Wednesday, extending gains from the previous session, after the telecommunications company boosted its annual free-cash-flow forecast due to demand related to artificial intelligence. Lumen shares were trading at $6.54 per share after hitting an intra-day high of $7.83, which is the highest since October […]
U.S. regulators fine Piper Sandler $16 million for record-keeping failures
(Reuters) – Piper Sandler has agreed to pay a total of $16 million as a civil penalty to U.S. regulators to resolve investigations into its record-keeping practices, the investment banking firm said on Tuesday. The firm will pay $14 million to the U.S. Securities and Exchange Commission (SEC) and $2 million to the Commodity Futures […]
Google monopoly ruling could help Apple defense in antitrust case
By Jody Godoy (Reuters) – Apple could be the winner after Alphabet’s Google lost its fight with the U.S. antitrust enforcers earlier this week, with a ruling that supports the iPhone maker’s defense in its own antitrust court battle with U.S. prosecutors, legal experts said. A federal judge mostly sided with state and federal antitrust […]
Musk’s X accuses advertisers of illegal boycott in new lawsuit
By Mike Scarcella (Reuters) – Elon Musk’s social media platform X on Tuesday sued a global advertising alliance and several major companies, including Mars and CVS Health, accusing them of unlawfully conspiring to boycott the site and causing it to lose revenue. X filed the lawsuit in federal court in Texas against the World Federation […]