Reuters USA

By Hannah Lang, Tom Wilson and Elizabeth Howcroft WASHINGTON/LONDON (Reuters) – The firm behind Binance’s stablecoin, Paxos Trust Company, said the U.S. Securities and Exchange Commission (SEC) has told the company it should have registered the product as a security and is considering taking action against the platform. In a statement on Monday, Paxos said …

Binance stablecoin backer says U.S. SEC has labeled token an unregistered security Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) -Bath & Body Works named a veteran consumer products executive as a new director on Monday as the specialty retailer faces pressure from hedge fund Third Point LLC to cut costs and refresh its board. Lucy Brady, a senior executive at Conagra Brands, expands the board to 11 from …

Bath & Body Works adds new director as Third Point pushes for changes Read More »

By Dominique Vidalon PARIS (Reuters) -France’s finance minister urged food retailers on Monday to do more to help consumers cope with high prices, as the government leans on them to agree to sell an anti-inflation basket of everyday essential goods at knockdown prices. “The rise in food prices is a major concern and everyone must …

France leans on retailers to help consumers cope with food prices Read More »

LONDON (Reuters) – Qatari investors are preparing to make a bid to buy Premier League club Manchester United “in the coming days”, Bloomberg reported on Monday, citing sources familiar with the deal. The report added that the consortium will submit an initial bid for the club by the end of the week, and that officials …

Soccer-Qatari investors preparing imminent bid for Manchester United – Bloomberg Read More »

By Jörn Poltz MUNICH (Reuters) – The former boss of Wirecard on Monday expressed his “deepest regret” over the collapse of the defunct payments company but denied all allegations as he took to the stand in Germany’s biggest post-war fraud trial. Dressed in his trademark black turtleneck and rimless spectacles, the one-time chief executive Markus …

‘Day of pain’: Wirecard boss denies charges in massive fraud trial Read More »

(Reuters) -Cloud communications company Twilio Inc said on Monday it was eliminating about 17% roles and closing some offices as part of a restructuring effort to focus on profitability. The move, which is the second instance of job cuts in six months, sent the company’s share up 2%. As part of the restructuring, Twilio will …

Twilio to cut 17% staff, close offices to focus on profitability Read More »

MOSCOW (Reuters) -The United States has told its citizens to leave Russia immediately due to the war in Ukraine and the risk of arbitrary arrest or harassment by Russian law enforcement agencies. “U.S. citizens residing or travelling in Russia should depart immediately,” the U.S. embassy in Moscow said. “Exercise increased caution due to the risk …

United States tells citizens: Leave Russia immediately Read More »

By Johann M Cherian (Reuters) – U.S. main stock indexes opened higher on Monday as beaten-down megacap growth stocks gained, while Meta Platforms climbed on reports of fresh layoffs. The Dow Jones Industrial Average .DJI rose 18.12 points, or 0.05%, at the open to 33,887.39. The S&P 500 .SPX opened higher by 6.16 points, or …

Wall St climbs higher on megacap boost Read More »

(Reuters) -The Federal Reserve will need to continue to raise interest rates in order to get them to a level high enough to bring inflation back down to the central bank’s target rate, Fed Governor Michelle Bowman said on Monday. “I expect we’ll continue to increase the federal funds rate because we have to bring …

Fed’s Bowman says more interest rate hikes needed to tame inflation Read More »