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☆ Weinstein group revises Sculptor bid after board's concerns -Bloomberg News
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Boaz Weinstein, founder and chief investment officer at Saba Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian Acquire Licensing RightsSept 6 (Reuters) - Wall Street investor Boaz Weinstein and his group of bidders have revised their offer to buy hedge fund firm Sculptor Capital Management (SCU.N), Bloomberg News reported on Wednesday, citing people familiar with the matter. The group, called Bidder J, which includes Bill Ackman, Marc Lasry and Jeff Yass, as well as Weinstein, made the offer for Sculptor last month. Sculptor Capital Management and Weinstein's Saba Capital Management didn't immediately respond to Reuters requests for comment on Wednesday. Sculptor chose to stay with Rithm's $11.15 per share bid, saying the Bidder J offer had "significantly less certainty of closing."

Persons: Boaz Weinstein, Richard Brian Acquire, Bill Ackman, Marc Lasry, Jeff Yass, Weinstein, Dan Och, Rishabh, Sandra Maler, Leslie Adler Organizations: Saba Capital Management, REUTERS, Wall, Capital Management, Bloomberg, Sculptor Capital Management, Weinstein's Saba Capital Management, Rithm, Thomson Locations: Las Vegas , Nevada, U.S, New York, Bengaluru

☆ Crypto exchange HashKey bags licence update to serve retail users
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File PhotoAug 3 (Reuters) - Cryptocurrency exchange HashKey on Thursday said it will begin offering its services to retail users in Hong Kong, becoming the first licensed crypto trading exchange in the city to do so. HashKey said it received a licence update from the Hong Kong Securities and Futures Commission, allowing the exchange to expand its business scope from serving professional investors to retail users. The Hong Kong-based exchange received a licence to operate in the city last November, making it one of two licensed crypto exchanges in Hong Kong besides rival exchange OSL. In June, banking regulator Hong Kong Monetary Authority (HKMA) said that it had, in April, asked lenders operating in the region to try and meet the business needs of licensed crypto exchanges. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, HashKey, Rishabh, Janane Organizations: REUTERS, Hong Kong Securities, Futures Commission, Hong Kong Monetary Authority, Thomson Locations: Hong Kong, China, Bengaluru

☆ CVS to shed 5,000 jobs in cost-cutting push - WSJ
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Companies CVS Health Corp FollowJuly 31 (Reuters) - U.S. pharmacy chain CVS Health (CVS.N) is cutting 5,000 jobs, the Wall Street Journal reported on Monday, citing a staff memo. The company spokesperson said CVS does not expect "any impact to our customer-facing colleagues in our stores, pharmacies, clinics, or customer services centers." The pharmacy chain had about 300,000 employees in the U.S. at the end of last year. The Woonsocket, Rhode Island-based company will be cutting down on travel expenses as well as its use of consultants and vendors, according to the WSJ report. Reporting by Rishabh Jaiswal and Gursimran Kaur in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishabh Jaiswal, Gursimran Kaur, Rashmi Organizations: CVS Health, CVS, Wall Street, Thomson Locations: U.S, Woonsocket , Rhode Island, Bengaluru

☆ Meta prepares AI-powered chatbots in attempt to retain users - FT
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Meta Platforms (META.O) is preparing to launch a range of artificial intelligence (AI) powered chatbots that exhibit different personalities as soon as September, the Financial Times reported on Tuesday. Meta has been designing prototypes for chatbots that can have humanlike discussions with its users, as the company attempts to boost its engagement with its social media platforms, according to the report, citing people with knowledge of the plans. The Menlo Park, California-based social media giant is even exploring a chatbot that speaks like Abraham Lincoln and another that advises on travel options in the style of a surfer, the report added. The purpose of these chatbots will be to provide a new search function as well as offer recommendations. The Facebook parent reported a strong rise in advertising revenue in its earnings last week, forecasting third-quarter revenue above market expectations.

Persons: Meta, Abraham Lincoln, Google's Bard, Ajax, Rishabh, Rashmi Organizations: Financial Times, Menlo, Facebook, Bloomberg News, Apple, Thomson Locations: , California, Bengaluru

☆ Kraken says all systems operational after issue with Ethereum funding gateway
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: 1 min

July 30 (Reuters) - Cryptocurrency exchange Kraken said on Sunday that issues with cryptocurrency Ethereum's funding gateway have been resolved. "All systems operational," Kraken said on its status page, without giving details on what caused the issue. Kraken had said early on Sunday that it was investigating an issue with the Ethereum funding gateway and that it could cause a delay in deposits and withdrawals. Ethereum is the world's second-largest cryptocurrency. Reporting by Rishabh Jaiswal and Nilutpal Timsina in Bengaluru; Editing by Edwina Gibbs and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

Persons: Kraken, cryptocurrency, Rishabh Jaiswal, Edwina Gibbs, Angus MacSwan Organizations: Thomson Locations: Bengaluru

☆ Six people dead after small plane crashes in Calgary
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +1 min

July 29 (Reuters) - Six people have died after a small plane crashed in Kananaskis Country, a mountainous region west of Calgary, the Royal Canadian Mounted Police (RCMP) said on Saturday. The RCMP said an aircraft with five passengers and a pilot left Springbank Airport near Calgary on Friday night en route to Salmon Arm, British Columbia. Ryan Singleton said contact was lost with the plane around 9:30 p.m. local time (0330 GMT Saturday). Shortly after the plane was reported overdue, a search was conducted by a Royal Canadian Air Force (RCAF) squadron based in Winnipeg. However, all six people in the plane had died, Singleton said.

Persons: Ryan Singleton, Singleton, Rishabh, Lincoln Organizations: Royal Canadian Mounted Police, RCMP, Springbank, British Columbia, RCMP Staff, Royal Canadian Air Force, Alberta Parks Mountain, Transport, Board, Canada, Thomson Locations: Calgary, Salmon, British, Winnipeg ., Alberta, Bengaluru

[1/3] Emergencies services members gather outside the damaged office building in the Moscow City following a reported Ukrainian drone attack in Moscow, Russia, July 30, 2023. REUTERS/StringerSummary Russia accuses Ukraine of new drone attack on MoscowSays all three drones shot down or forced to crashNobody hurt, minor damage to two buildings - mayorMOSCOW, July 30 (Reuters) - Russia's Defence Ministry said it had brought down three Ukrainian drones early on Sunday that had been trying to attack Moscow. The incident followed what Russia said was a similar Ukrainian attempt to attack Moscow with two drones last Monday, one of which was brought down close to the headquarters of the defence ministry. The Defence Ministry said two drones had crashed in the Moskva-Citi district after being brought down using radio-electronic equipment. GLASS AND DEBRISA young woman who gave her name only as Liya described the Moscow incident.

Persons: Stringer, Nobody, Sergei Sobyanin, Mykhailo Fedorov, Monday's, Liya, Andrew Osborn, Rishabh, William Mallard, Lincoln, Frances Kerry Organizations: REUTERS, Russia's Defence Ministry, Citi, Ukraine, TASS, The Defence Ministry, Reuters, Thomson Locations: Moscow, Ukrainian, Russia, Ukraine, MOSCOW, Moskva, Kyiv, Moscow's Vnukovo, Crimea, Bengaluru

☆ Evacuation order issued for Canadian town as wildfire crosses over from US
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +1 min

[1/7] A long exposure image shows the Eagle Bluffs Wildfire, which crossed the border from the U.S. state of Washington, and prompted evacuation orders in Osoyoos, British Columbia, Canada July 30, 2023. REUTERS/Jesse WinterJuly 30 (Reuters) - An evacuation order for the Canadian town of Osoyoos and its surrounding district has been issued due to an out-of-control wildfire that has crossed the border from the U.S. state of Washington. The wildfire, called Eagle Bluff, is approximately 4 kilometres (2.49 miles) from Osoyoos, according to the British Columbia Wildfire Service. Osoyoos and the regional district of Okanagan-Similkameen issued the alert late Saturday night, citing "potential danger to life and health". The evacuation order covers the area north of the Canada-United States border to the intersection of Highway 97 and Highway 3, as well as west and north along Highway 3.

Persons: Jesse Winter, Rishabh, Edwina Gibbs Organizations: REUTERS, British Columbia Wildfire Service, Similkameen, Thomson Locations: U.S ., Washington, Osoyoos, British Columbia, Canada, British, Okanagan, United States, Bengaluru

☆ Netflix reworks Microsoft pact, lowers ad prices - WSJ
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: 1 min

July 27 (Reuters) - Netflix (NFLX.O) is restructuring its advertising partnership with Microsoft (MSFT.O) a year into their deal and lowering ad prices, the Wall Street Journal reported on Thursday. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishabh, Sonia Cheema Organizations: Netflix, Microsoft, Wall Street, Thomson Locations: Bengaluru

☆ One dead in cargo ship fire, electric car suspected source - Dutch coastguard
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

The Panama-registered Fremantle Highway was transporting 2,857 cars from Germany to Egypt, 25 of them electric. An electric car was the suspected source of the blaze, a coastguard spokesperson said, adding that the ship was still burning. The crew had tried, but failed, to extinguish the fire, the coastguard statement said. The injured crew were taken by helicopter to medical facilities on the mainland. A fire destroyed thousands of luxury cars on a ship off the coast of Portugal's Azores islands in February last year.

Persons: Shoei Kisen, Charlotte Van Campenhout, Rishabh, Anthony Deutsch, Edmund Klamann, Tom Hogue, Michael Perry, Alison Williams Organizations: Dutch coastguard, Fremantle Highway, coastguard, NOS, Thomson Locations: AMSTERDAM, Netherlands, Panama, Germany, Egypt, Bermenhaven, Dutch, Ameland, Jersey, Portugal's Azores

The fire began on Tuesday night on the 199-metre Panama-registered Fremantle Highway, which was en route from Germany to Egypt, forcing several crew members to jump overboard. Rescue ships sprayed water onto the burning boat to cool it down, but using too much water risked its sinking, the Dutch coastguard said. The coastguard said on its website that the cause of the fire was unknown, but a coastguard spokesperson had earlier told Reuters it began near an electric car. Coastguard spokesperson Edwin Granneman said salvage experts were trying to work out next steps for the burning boat. A fire destroyed thousands of luxury cars on a ship off the coast of Portugal's Azores islands in February last year.

Persons: Edwin Versteeg, Willard Molenaar, Molenaar, Edwin Granneman, Shoei Kisen, Charlotte Van Campenhout, Rishabh, Anthony Deutsch, Alison Williams, Andrew Cawthorne Organizations: coastguard, Fremantle Highway, Dutch coastguard, Dutch Department of Waterways, Public, Reuters, Fremantle, Royal Dutch Rescue Company, Coastguard, Thomson Locations: Germany, Egypt, AMSTERDAM, Panama, Bremerhaven, Ameland, Dutch, Jersey, Portugal's Azores

☆ American Airlines union postpones vote for contract agreement
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 23 (Reuters) - American Airlines' pilot union has indefinitely postponed the ratification vote for a tentative contract agreement, it said in a memo on Sunday. The voting will now take place "at a date and time to be determined", the union said. American Airlines (AAL.O) pilots were due to vote on Monday after the company on Friday raised the value of its contract offer to pilots by more than $1 billion. The Texas-based carrier said on Friday's changes brought the total value of the four-year proposed contract to $9 billion and would match the pay rates and retroactive pay in United Airlines' (UAL.O) tentative agreement. American Airlines did not immediately respond to a Reuters request for comment.

Persons: Rishabh, Rajesh Kumar Singh, Nivedita Organizations: American Airlines, United Airlines, Thomson Locations: The Texas, Bengaluru

And Twitter's cash flow has been negative as a result of that and its heavy debt load. Mike Proulx, research director at Forrester, said on Sunday that the move would further alienate Twitter's original, and once fiercely loyal, user base. The billionaire Musk said in a Sunday post he wanted to change Twitter's logo and polled his millions of followers whether they would favor changing the site's color scheme from blue to black. Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. In April, Twitter's legacy blue bird logo was temporarily replaced by Dogecoin's Shiba Inu dog, helping drive a surge in the cryptocurrency's market value.

Persons: Elon Musk, Mike Proulx, Forrester, Musk, Dado Ruvic, adieu, Linda Yaccarino, Twitter, Dogecoin's Shiba, Mrinmay Dey, Rishabh, William Mallard, Jan Harvey, Cynthia Osterman, Diane Craft Organizations: Twitter Inc, REUTERS, Twitter, X Corp, Thomson Locations: Bengaluru

"Interim X logo goes live later today," Musk said on Twitter adding that "X.com" would now redirect to Twitter's website. Musk's X Corp owns Twitter. The billionaire said in a Sunday post he wanted to change Twitter's logo and polled his millions of followers whether they would favor changing the site's color scheme from blue to black. Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. In April, Twitter's legacy blue bird logo was temporarily replaced by Dogecoin's Shiba Inu dog, helping drive a surge in the cryptocurrency's market value.

Persons: Elon Musk, Musk, Dado Ruvic, adieu, Musk's, Dogecoin's Shiba, Mrinmay Dey, Rishabh, William Mallard, Jan Harvey, Cynthia Osterman Organizations: Twitter Inc, Twitter, X Corp, REUTERS, Thomson Locations: Bengaluru

☆ Elon Musk says Twitter to change logo, adieu to 'all the birds'
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: +2 min

July 23 (Reuters) - Elon Musk said on Sunday he was looking to change Twitter's logo, tweeting: "And soon we shall bid adieu to the twitter brand and, gradually, all the birds". ET (0406 GMT), the social media platform's billionaire owner added: "If a good enough X logo is posted tonight, we'll make (it) go live worldwide tomorrow." loadingMusk posted an image of a flickering "X", and later in a Twitter Spaces audio chat replied "Yes" when asked if the Twitter logo will change, adding that "it should have been done a long time ago". Twitter's website says its logo, depicting a blue bird, is "our most recognizable asset". Since Musk acquired it, the company has laid off more than half its workforce to cut costs.

Persons: Elon Musk, adieu, Dogecoin's Shiba, Musk, Rishabh, William Mallard, Jan Harvey Organizations: Twitter, X Corp, Thomson Locations: Bengaluru

☆ Google explores AI tools for journalists, in talks with publishers - spokesperson
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

July 19 (Reuters) - Google is exploring using artificial intelligence tools to write news articles and is in talks with news organizations to use the tools to assist journalists, a company spokesperson said late on Wednesday. These AI tools could assist journalists with options for headlines or different writing styles, for instance, in a way that "enhances their work and productivity," the Google spokesperson said, adding it was in the "earliest stages of exploring ideas". "Quite simply these tools are not intended to, and cannot, replace the essential role journalists have in reporting, creating, and fact-checking their articles," the spokesperson said. The AI tool that was pitched is called Genesis internally at Google, the NYT said, citing people familiar with the matter. A News Corp spokesperson declined to comment on the NYT report or the AI tool, but said, "We have an excellent relationship with Google, and we appreciate (Google CEO) Sundar Pichai's long-term commitment to journalism."

Persons: Sundar Pichai's, OpenAI, Urvi Dugar, Savio D'Souza Organizations: Google, New York Times, Washington Post, Wall Street, News Corp, Associated Press, Thomson Locations: Bengaluru

☆ Google explores AI tools for journalists, in talks with publishers
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

Persons: Sundar Pichai's, OpenAI, Urvi Dugar, Savio D'Souza Organizations: Google, New York Times, Washington Post, Wall Street, News Corp, Associated Press, Thomson Locations: Bengaluru

[1/2] Cars are shown lined up at the valet parking area outside the Creative Artists Agency building in Los Angeles, California, September 24, 2012. REUTERS/Jonathan AlcornJuly 14 (Reuters) - Creative Artists Agency (CAA) is in advanced talks to sell a majority stake to French billionaire Francois-Henri Pinault in a deal that could value the Hollywood talent agency at over $7 billion, according to a person familiar with the matter. CAA did not immediately respond to a request for comment, and spokespeople for Pinault and for TPG declined to comment. In 2021, CAA announced a deal to buy major Hollywood rival ICM Partners. Bloomberg first reported the talks between Pinault and CAA.

Persons: Jonathan Alcorn, Francois, Henri Pinault, Pinault, Kering, Salma Hayek, Tom Hanks, Zendaya, Steven Spielberg, Ariana Grande, Beyonce, Gursimran Kaur, Jyoti Narayan, Rishabh, Muralikumar Anantharaman, John Stonestreet Organizations: Creative Artists Agency, REUTERS, Hollywood, Gucci, TPG, CAA, ICM Partners, Bloomberg, Thomson Locations: Los Angeles , California, Los Angeles, Pinault, Bengaluru

☆ Nvidia in talks to become anchor investor in Arm IPO - FT
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 12 (Reuters) - Chip designer Arm is in talks to bring in Nvidia (NVDA.O) as an anchor investor as it presses ahead with plans for a New York listing as soon as September, the Financial Times reported on Wednesday. Nvidia is the latest company to hold talks with SoftBank-owned Arm to take a long-term stake in the company at its initial public offering. In June Reuters reported that Arm was talking to more than 10 companies, including existing partners such as Intel (INTC.O). Nvidia and Arm declined to comment to Reuters. Last year regulators struck down Nvidia's planned acquisition of Arm worth $66 billion on competition grounds.

Persons: Rishabh, Savio D'Souza, Kim Coghill, Muralikumar Organizations: Nvidia, Financial Times, SoftBank, Reuters, Intel, Thomson Locations: York, Bengaluru, Anton, Tokyo

☆ DirecTV removes Nexstar's programming after failing to reach distribution agreement
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

July 2 (Reuters) - DirecTV removed TV station owner Nexstar Media Group's (NXST.O) network and local community programming from its satellite, cable and streaming systems as they failed to reach a new distribution agreement, the companies said on Sunday. "Nexstar continues to manipulate loopholes to exceed the 39% national ownership cap, and has made public statements lauding its 68% reach across all U.S. TV households," DirecTV said. Both companies added that they are in discussions to return Nexstar programming to DirecTV and are hopeful for a quick resolution. The lawsuit sought an order blocking Nexstar from allegedly colluding with Mission Broadcasting Inc and White Knight Broadcasting Inc in fee negotiations with DirecTV. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishabh, Rashmi Organizations: DirecTV, Nexstar Media, Sunday, Nexstar, ABC, CBS, NBC, FOX, CW, AT, Irving, Mission Broadcasting Inc, White Knight Broadcasting Inc, Thomson Locations: U.S, Los Angeles, Chicago, Philadelphia, San Francisco, Denver, Texas, Bengaluru

☆ UK's BMA union willing to cancel strikes for suitable pay offer
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] Junior doctors hold placards during a strike, amid a dispute with the government over pay, in London, Britain April 11, 2023. REUTERS/Maja Smiejkowska/File PhotoJuly 3 (Reuters) - The British Medical Association (BMA), which represents about 45,000 junior doctors in England, said on Monday its members were willing to cancel strikes if the government presented them with a suitable pay offer. Separately, BMA's consultants committee also called on the government last month asking for a credible pay offer, to avoid strikes on July 20 and 21. The consultants committee said it is willing to cancel strikes if a suitable offer is presented. The BMA has said the latest pay offer of a 5% increase for 2023/24 was not credible since it was "nowhere near addressing pay erosion over the last 15 years."

Persons: Maja Smiejkowska, Vivek Trivedi, Rishi Sunak, Vishal Sharma, Steve Barclay, Barclay, Lavanya Ahire, Robert Birsel, Jacqueline Wong Organizations: REUTERS, British Medical Association, BMA, BMA Junior, British Health, Times, of Health, Social, Thomson Locations: London, Britain, England, Bengaluru

☆ Barclays seeks to stop being corporate banker to Odey Asset Management, Financial Times reports
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

July 2 (Reuters) - Barclays (BARC.L) is looking to terminate its corporate banking relationship with Odey Asset Management (OAM), the Financial Times reported on Sunday, predominantly due to sexual assault allegations against founder Crispin Odey. The British hedge fund has grappled with redemptions since the FT and Tortoise Media on June 8 jointly reported allegations by 13 women that Crispin Odey had sexually assaulted or harassed them over a 25-year period. OAM and Barclays did not immediately respond to a Reuters request for comment outside usual office hours. FT also reported earlier that the FCA had restricted the movement of cash and assets from OAM to restore order at the firm. Letters to OAM investors last week showed the manager has proposed to restructure two of its key funds as part of efforts to extract Crispin Odey from the business after the assault allegations.

Persons: Crispin Odey, Odey, AJ Bell, Hargreaves Lansdown, Goldman Sachs, Morgan Stanley, Rishabh, Kevin Liffey, David Holmes Organizations: Barclays, Odey Asset Management, Financial Times, redemptions, Tortoise Media, Sunday Barclays, Financial, Authority, FT, JPMorgan, Thomson Locations: British, Canada, Halifax, Bengaluru

☆ Binance's European banking partner to withdraw support - CoinDesk
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Binance's European banking partner Paysafe Payment Solutions Ltd will stop supporting the U.S. cryptocurrency exchange from Sept. 25, CoinDesk reported on Wednesday. The crypto exchange will be changing the provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA), while the current partner — Paysafe — will no longer be providing these services to Binance users, the report said, citing Binance's spokesperson. Paysafe and Binance did not immediately respond to a Reuters request for comment. The report comes as Binance faces scrutiny from regulators keen to clamp down on money laundering. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: CoinDesk, — Paysafe, Binance, Paysafe, Rishabh, Rashmi Aich, Sherry Jacob, Phillips Organizations: U.S, Securities and Exchange Commission, Thomson Locations: Britain, Bengaluru

☆ Binance's European banking partner to stop support from Sept - CoinDesk
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: 1 min

June 28 (Reuters) - Binance's current banking partner for euro trasactions Paysafe Payment Solutions Ltd will stop supporting the cryptocurrency exchange from Sept. 25 onwards, CoinDesk reported on Wednesday. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: CoinDesk, Rishabh, Rashmi Organizations: Thomson Locations: Bengaluru

☆ Binance's European banking partner Paysafe to withdraw support
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Binance's European banking partner Paysafe Payment Solutions said on Thursday it will cease offering its embedded wallet solution to the U.S. cryptocurrency exchange across the European Economic Area (EEA) from Sept. 25. "Paysafe and Binance are now working to mutually implement an orderly and fair process to terminate this service over the next few months," Paysafe said in a email to Reuters. Binance will be changing the provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA), while the current partner — Paysafe — will no longer be providing these services to Binance users, CoinDesk reported on Wednesday. Binance typically accesses SEPA via payment intermediaries. Binance tied up with Paysafe last year to allow its users to deposit sterling via Faster Payments, a network that oversees payments and bank account transfers in Britain.

Persons: Paysafe, — Paysafe, CoinDesk, Binance, Rishabh, Rahat Sandhu, Yana Gaur, Sherry Jacob, Phillips, Jason Neely Organizations: European Economic, Reuters, U.S, Securities and Exchange Commission, Thomson Locations: Britain, Bengaluru

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