Reuters - Squid Business

Coinbase to pay $100 million to settle New York state investigation

WASHINGTON (Reuters) -U.S.-based cryptocurrency exchange Coinbase Global Inc has reached a $100 million settlement with New York’s Department of Financial Services (DFS), the exchange and the regulator said in statements on Wednesday. The settlement, which includes a $50-million penalty, caps the regulator’s investigation into the firm’s compliance with requirements to prevent money laundering. DFS found …

Coinbase to pay $100 million to settle New York state investigation Read More »

Global hedge funds plan 2023 around inflation risk

By Carolina Mandl, Nell Mackenzie and Summer Zhen NEW YORK/LONDON/HONG KONG (Reuters) – Having weathered a dire 2022, many global hedge fund managers are preparing this year for persistent inflation and seeking exposure to commodities and bonds that perform well in such an environment. A majority of the 10 global asset and hedge fund managers …

Global hedge funds plan 2023 around inflation risk Read More »

At CES 2023, Sony’s ‘Gran Turismo’ flags new entertainment strategy

By Dawn Chmielewski (Reuters) – When Sony Corp Group teases “Gran Turismo,” its long-awaited adrenaline-fueled film adaptation of Sony PlayStation’s hit car-racing franchise at the CES 2023 technology trade show this week, it will really be showing off its new identity as a content-driven company. The movie reflects the transformation of the maker of the …

At CES 2023, Sony’s ‘Gran Turismo’ flags new entertainment strategy Read More »

Salesforce to cut 10% of workforce in latest tech layoffs

(Reuters) -Salesforce Inc plans to cut its workforce by 10% and close some offices, saying it needs to cut costs after rapid pandemic hiring left it with “too many people” amid an economic slowdown, sending its shares up 5%. The cloud-based software company said on Wednesday it expects between $1.4 billion and $2.1 billion in …

Salesforce to cut 10% of workforce in latest tech layoffs Read More »

Brazil’s Petrobras names interim head after CEO departs

SAO PAULO (Reuters) -Brazilian state-run oil company Petrobras said on Wednesday its board of directors had approved the early departure of chief executive officer Caio Paes de Andrade, which will take effect immediately. Reuters had first reported on Tuesday, citing sources, that Andrade had informed the board of directors of his resignation, ahead of the …

Brazil’s Petrobras names interim head after CEO departs Read More »

Rishi Sunak says UK needs to have the confidence to do things differently

LONDON (Reuters) – Prime Minister Rishi Sunak said on Wednesday that Britain needed to have the confidence to “do things differently and better,” in a speech setting out his government’s priorities in the new year. “We need to have the imagination and confidence to do things differently and better. The vision to do today, what …

Rishi Sunak says UK needs to have the confidence to do things differently Read More »

Russia says 89 troops were killed in New Year’s attack, blames use of mobile phones

(Reuters) -Russia’s defence ministry said on Wednesday that 89 servicemen were killed in the Ukrainian attack on Makiivka in the Moscow-controlled parts of the Donetsk region, adding the main reason for the attack was unauthorised use of mobile phones by the troops. “It is already obvious that the main reason for what happened was the …

Russia says 89 troops were killed in New Year’s attack, blames use of mobile phones Read More »

BP raises oil investments in the U.S. as inflation hits

By Sabrina Valle HOUSTON (Reuters) – BP PLC said on Wednesday it planned to expand investments in the Gulf of Mexico and Texas, where it has its two top U.S. oil and gas production operations. The increase comes as inflation costs hit the industry and as the White House calls on oil companies to expand …

BP raises oil investments in the U.S. as inflation hits Read More »

UK PM Sunak pledges to halve inflation, grow economy

LONDON (Reuters) – British Prime Minister Rishi Sunak on Wednesday pledged to halve inflation and grow the economy as he laid out the government’s priorities in his first major speech in the new year. “First, we will halve inflation this year to ease the cost of living and give people financial security,” Sunak said during …

UK PM Sunak pledges to halve inflation, grow economy Read More »

BlackRock defers withdrawals for UK property fund

By Elizabeth Howcroft and Carolyn Cohn LONDON (Reuters) -U.S. funds giant BlackRock will defer third-quarter redemptions from its 3.5 billion pounds ($4.2 billion) BlackRock UK Property Fund, a source told Reuters, in the latest sign of strain in Britain’s real estate market. Top asset managers, including M&G, Columbia Threadneedle, Schroders and CBRE Investment Management, have …

BlackRock defers withdrawals for UK property fund Read More »