Barclays hit by $ 361 million US penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $ 361 million penalty with US regulators on Thursday for “staggering” failures that led it to oversell $ 17.7 billion of structured products, racking up further costs for an error that has blighted CEO CS Venkatakrishnan’s first year in charge. The bank said after London … Read more

UK pension funds ask corporates for cash after gilt blow-up -sources

LONDON, Sept 30 (Reuters) – British pension funds with big losses in gilt market derivatives have sought emergency funds from the companies they manage money for as they race to dump assets to raise cash, industry sources said on Friday. Many pension funds were caught out during the surge in bond yields this week that … Read more

Exclusive: Brands blast Twitter for ads next to child pornography accounts

Sept 28 (Reuters) – Some major advertisers including Dyson, Mazda, Forbes and PBS Kids have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography, the companies told Reuters. Brands ranging from Walt Disney Co (DIS.N), NBCUniversal (CMCSA.O) and Coca-Cola Co (KO.N) to a … Read more

US fines 16 Wall Street firms $ 1.8 bln for talking deals, trades on personal apps

Sept 27 (Reuters) – US regulators on Tuesday fined 16 financial firms, including Barclays (BARC.L), Bank of America, Citigroup, Credit Suisse (CSGN.S), Goldman Sachs, Morgan Stanley and UBS (UBSG.S), a combined $ 1.8 billion after staff discussed deals and trades on their personal devices and apps. The sweeping industry probe, first reported by Reuters last … Read more

Cryptoverse: Bitcoin miners get stuck in a bear pit

A bitcoin representation is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS / Benoit Tessier Register now for FREE unlimited access to Reuters.com Register Sept 27 (Reuters) – Spare a thought for the beleaguered bitcoin miner. In late 2021, miners were the toast of the … Read more

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Pound briefly touched a record low against dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it would … Read more

Wall St Week Ahead Investors wonder when vicious sell-off in US stocks will end

A specialist trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, September 22, 2022. REUTERS / Brendan McDermid Register now for FREE unlimited access to Reuters.com Register NEW YORK, Sept 23 (Reuters) – A week of heavy selling has rocked US stocks and bonds, and many investors … Read more

Elon Musk faces skeptics as Tesla gets ready to unveil ‘Optimus’ robot

SAN FRANCISCO, Sept 20 (Reuters) – Tesla (TSLA.O) Chief Executive Elon Musk blamed overreliance on factory robots for sending the electric carmaker to “production hell” four years ago, saying humans were better at certain jobs. My, how times have changed. Musk’s Texas company now is floating ambitious plans to deploy thousands of humanoid robots, known … Read more

Cryptoverse: After Merge, ether heads for a $ 20 billion Shanghai splurge

Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS / Dado Ruvic / Illustration / File Photo Register now for FREE unlimited access to Reuters.com Register Sept 20 (Reuters) – The Merge came, saw and conquered. Not that you’d guess from crypto prices. … Read more

Cryptoverse: Ether snaps at bitcoin’s heels in race for crypto crown

Souvenir tokens representing cryptocurrency Bitcoin and the Ethereum network, with its native token ether, plunge into water in this illustration taken May 17, 2022. REUTERS / Dado Ruvic / Illustration Register now for FREE unlimited access to Reuters.com Register Sept 13 (Reuters) – For years, ether could barely dream of challenging its big brother bitcoin. … Read more