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Search resuls for: "Gensler’s SEC"


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Securities and Exchange Commission Chair Gary Gensler will resign on Jan. 20, the agency announced Thursday, paving the way for President-elect Donald Trump to select a replacement immediately. Gensler took over the SEC in 2021, and under his leadership the commission has taken an ambitious but controversial approach to several regulatory issues, including cryptocurrencies. Trump has not announced his pick to lead the SEC, but the expectation is that the next chair will be friendlier to Wall Street and crypto. SEC commissioners serve five-year terms, so Gensler could have in theory stayed on until at least 2026. Under Gensler, the SEC pushed to require more disclosures from publicly traded companies and financial advisors for investors.
Persons: Gary Gensler, Donald Trump, Gensler, Trump, ” Gensler, Gensler’s Organizations: Securities, Exchange, SEC, cryptocurrencies, Gensler’s SEC
Bitcoin hits $80,000. Why Trump is boosting crypto
  + stars: | 2024-11-10 | by ( David Goldman | ) edition.cnn.com   time to read: +2 min
After briefly touching the $80,000 milestone, bitcoin was trading just below it Sunday mid-morning. The crypto industry believes Trump’s victory is a bullish sign for bitcoin and other digital currencies. Although Trump was once a bitcoin skeptic, once saying it “was based on thin air,” he has fully embraced crypto in recent months — unlike the Biden administration, which has sought to rein in crypto. A big reason Trump has changed his tune on crypto: He now has a financial stake in it. In September, Trump and his children started a new crypto business called World Liberty Financial.
Persons: CNN — Bitcoin, Donald Trump, Bitcoin, Trump, , ” Trump, , Biden, Gary Gensler, ” Gensler’s, Sam Bankman, Gensler, Gensler’s, cryptocurrencies, Elon Musk Organizations: CNN, Biden, Liberty, . Securities, Exchange, ” Gensler’s SEC, SEC, Department of Justice, cryptocurrencies Locations: USA
Italian corporate activism has a long way to go
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +2 min
MILAN, May 10 (Reuters Breakingviews) - Fighting opaque governance at Italy’s state-backed companies is proving a tough nut to crack. That’s a victory for the Italian Treasury – the utility’s top investor with 23.6% – which managed to install oil and gas veteran Paolo Scaroni as chairman, along with other board members. The Italian state is in dire need of improving the way it picks its corporate representatives. But to confront Rome, investors will need to make a good case. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Swedish drugmaker finds alluring poison pill
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +2 min
LONDON, May 10 (Reuters Breakingviews) - Sweden’s rare disease drug maker is experiencing unfortunate deal side effects. On Wednesday, shares in Swedish Orphan Biovitrum (SOBI) (SOBIV.ST) fell 15% after it announced a plan to buy CTI BioPharma (CTIC.O), a specialist in rare blood cancers, for $1.7 billion. The Anglo-Swedish drugmaker refused to tender its shares amid a squabble over the U.S. rights for a respiratory drug. But SOBI’s new deal, which will be funded by a rights issue backed by main shareholder Investor AB (INVEb.ST), suggests Oelkers has support for a solo future. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Amazon applies therapy to retail
  + stars: | 2023-05-09 | by ( ) www.reuters.com   time to read: +2 min
Rising costs and customers battered by inflation are hampering Amazon’s efforts to get its retail division on a path to sustainable profitability. While the rate of sales growth has outstripped growth in costs of distribution, the retail business over the past 12 months has lost $8 billion. More important, investors haven’t loved the idea of subsidizing delivery costs at the expense of profit. Applying therapy to its retailing business won’t change its consumers’ co-dependency. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Aramco’s dividend largesse contains a hard logic
  + stars: | 2023-05-09 | by ( ) www.reuters.com   time to read: +2 min
That could work out to up to $18 billion a year, Royal Bank of Canada analysts reckon. Given that there are solid long-term reasons to hold Aramco shares, it might seem odd that the world’s largest oil producer feels the need to keep its investors on side. Meanwhile, Aramco’s dividend has been fixed since its listing, but that arrangement expires next year. Flagging to prospective foreign investors that its dividend policy is not entirely dependent on the whims of the Saudi state is probably not a bad idea. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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