business news

Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies

A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it …

Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies Read More »

Trump SPAC deal threatened by criminal probe

Former US President Donald Trump applauds during the National Rifle Association (NRA) annual convention in Houston, Texas, US May 27, 2022. Shannon Stapleton | Reuters A federal criminal investigation is threatening the proposed merger between former President Donald Trump’s social media enterprise and a special purpose acquisition company, a deal that would give the combined …

Trump SPAC deal threatened by criminal probe Read More »

Three Arrows Capital crypto hedge fund defaults on Voyager loan

Bitcoin rallied to a record high of nearly $69,000 at the height of the 2021 crypto frenzy. In 2022, it’s moved in the opposite direction. Nurphoto | Getty Images Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million. Digital asset brokerage Voyager Digital issued a notice on …

Three Arrows Capital crypto hedge fund defaults on Voyager loan Read More »

Three Arrows Capital (3AC) faces deadline to repay loans or default

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge …

Three Arrows Capital (3AC) faces deadline to repay loans or default Read More »

Tencent wants to be foreign automakers’ go-to company for EVs in China

BMW’s iX electric SUV in China was the first global car brand to include the automobile version of Tencent’s WeChat messaging app, according to the Chinese tech company. Tencent BEIJING — Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s massive …

Tencent wants to be foreign automakers’ go-to company for EVs in China Read More »

Disney, Apple and Amazon keep waiting as NFL considers Sunday Ticket offers

DK Metcalf, of the Seattle Seahawks, during a Meet & Greet with DIRECTV NFL SUNDAY TICKET subscribers at the DIRECTV NFL SUNDAY TICKET Lounge on Saturday Feb. 1, 2020, in Miami, FL. Peter Barreras | PA Disney, Apple and Amazon have all submitted bids to become the new broadcast rights owner of the National Football …

Disney, Apple and Amazon keep waiting as NFL considers Sunday Ticket offers Read More »

JPMorgan, Bank of America and Citi may need to cut buybacks after stress test

The biggest American banks may have to hit the brakes on capital return to shareholders because of regulators’ annual stress test, according to Morgan Stanley analysts led by Betsy Graseck. Analyst reaction to the Federal Reserve stress test results released late Thursday focused on an unexpected increase in the stress capital buffers of banks including …

JPMorgan, Bank of America and Citi may need to cut buybacks after stress test Read More »

UK Covid cases surge following Jubilee; BA.4, BA.5 become dominant

A total of 1,739,700 people tested positive for the virus in the week to June 18, new estimates from the UK’s Office for National Statistics (ONS) have shown. Xinhua News Agency | Xinhua News Agency | Getty Images LONDON — UK Covid-19 cases are on the rise again, according to new data, which points to …

UK Covid cases surge following Jubilee; BA.4, BA.5 become dominant Read More »