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☆ Bitcoin, USDC stablecoin rally after U.S. intervenes on SVB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

SINGAPORE, March 13 (Reuters) - Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The moves came as authorities took possession of New York-based Signature Bank (SBNY.O), the second bank failure in a matter of days. Stablecoin USD Coin (USDC) recovered to $0.9917, closer to its par and up from last week's lows around $0.88. Over the weekend, USDC had lost its 1:1 dollar peg and hit a record low on Saturday on concerns over the exposure of Circle — the firm behind USDC — to Silicon Valley Bank. Circle CEO Jeremy Allaire said in a tweet its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank (SIVB.O) will be fully available when U.S. banks open Monday.

[1/2] A notice hangs on the door of Silicon Valley Bank (SVB) located in San Francisco, California, U.S. March 10, 2023. "Silicon Valley Bank cannot be allowed to fail given the vital community it serves," Bank of London co-founder and CEO Anthony Watson said. But an executive at a major UK bank said it was unlikely a high street lender would buy SVB UK because its credit products would not be a good fit for a mainstream bank. EXISTENTIAL THREATMore than 250 UK tech firm executives signed a letter addressed to Hunt on Saturday calling for government intervention and warned of an "existential threat" to the UK tech sector, a copy seen by Reuters shows. Sunak has said he wants to turn Britain into the "next Silicon Valley".

☆ UK races to minimise SVB fallout amid reports of potential buyers
▼ + stars: | 2023-03-12 | by ( Andrew Macaskill | ) www.reuters.com time to read: +6 min

[1/2] A notice hangs on the door of Silicon Valley Bank (SVB) located in San Francisco, California, U.S. March 10, 2023. SoftBank-owned lender OakNorth Bank is weighing a bid to buy Silicon Valley Bank UK Ltd, a person with knowledge of the talks told Reuters, confirming a Sky News report. EXISTENTIAL THREATMore than 250 UK tech firm executives signed a letter addressed to Hunt on Saturday calling for government intervention and warned of an "existential threat" to the UK tech sector, a copy seen by Reuters shows. Hunt reiterated comments by the BoE that overall, Silicon Valley Bank had a limited presence in Britain and did not perform functions critical to the financial system. Sunak has said he wants to turn Britain into the "next Silicon Valley".

☆ India's Adani prepays $2.15 billion share-backed loans
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +1 min

March 12 (Reuters) - Adani Group said it had completed full prepayment of margin-linked share-backed financing worth $2.15 billion as part of its debt prepayment plan, before its deadline of March 31. Adani Group last year acquired Holcim AG's (HOLN.S) cement businesses in India – Ambuja Cements and ACC Ltd – for $10.5 billion, its largest-ever acquisition. Hindenburg's report alleged stock manipulation and improper use of tax havens, and flagged "substantial" debt levels, which the group has denied. Gautam Adani and his family have prepaid all borrowings backed by his conglomerate Adani Group's shares, senior executives told investors at a meeting in London, Bloomberg News reported last week. Reporting by Baranjot Kaur and Jahnavi Nidumolu in Bengaluru; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Adani seeks to sell stake in Ambuja Cement for $450 mln to reduce debt - FT
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

March 10 (Reuters) - Gautam Adani is seeking to sell a stake in Ambuja Cement (ABUJ.NS) for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. Adani on Thursday made a formal request to international lenders to sell 4% to 5% in Ambuja, his cement business, the report said. The Adani Group did not immediately respond to a Reuters request for comment. The embattled Adani Group last year acquired Holcim AG's (HOLN.S) cement businesses in India – Ambuja Cements and ACC Ltd (ACC.NS) – for $10.5 billion, its largest-ever acquisition. Ambuja Cements closed down 1.7%, while ACC ended down 0.7% on Friday.

☆ Earthquake of magnitude 5.7 hits Romania – EMSC
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: 1 min

Feb 14 (Reuters) - An earthquake of magnitude 5.7 struck Romania on Tuesday, the European Mediterranean Seismological Centre said. The quake was at a depth of 40 km (24.85 miles) and the epicentre was 56 km northeast of Drobeta-Turnu Severin, Romania, the EMSC said. Reporting by Baranjot Kaur in Bengaluru; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Britain considers allowing foreign students to work longer hours -The Times
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] A cyclist rides past a sign on the side of a delivery lorry advertising for jobs, in London, Britain, October 13, 2021. REUTERS/Toby MelvilleJan 27 (Reuters) - The British government is looking at plans to allow foreign students to work longer hours to boost the economy by plugging vacancies, The Times reported on Thursday. Discussions have begun within the government about either raising the cap on paid work hours on foreign students to 30 hours per week from 20 hours currently or removing it entirely, the report added. Government sources told The Times that ministers were looking at "what more we can do to remove barriers and encourage students to work" and lifting the cap on foreign students' hours was "part of a swathe of ideas being considered". The idea is at an early stage and has yet to be agreed across government, the report said.

☆ Barclays names former Credit Suisse dealmaker Deasy as investment banking co-head
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 24 (Reuters) - Barclays (BARC.L) has appointed former Credit Suisse (CSGN.S) dealmaker Cathal Deasy as co-head of investment banking, the lender said on Tuesday, as Chief Executive C.S. Deasy left Credit Suisse a few weeks ago, just months after being promoted to regional co-head of its investment banking & capital markets (IBCM) unit. JF Astier and John Miller, who currently lead investment banking, are in "active dialogue" with Barclays about what roles they might now take, a Barclays spokesperson said. Astier and Miller were promoted in 2021 to lead investment banking as part of a new management team. Barclays' investment bank has had a strong performance in recent quarters, thanks in part to a boom in fixed income trading, which has traditionally been one of its core strengths.

☆ UK's M&S plans to open 20 new stores in Britain, the Times reports
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

Jan 16 (Reuters) - British retailer Marks & Spencer (M&S) (MKS.L) plans to open 20 new stores creating 3,400 jobs throughout Britain, The Times reported on Monday. It also will open 12 food halls, including in Stockport, Barnsley and the North Ayrshire seaside town of Largs, Scotland. The group last November had proposed a target to reduce its full line stores by 67 to 180 by 2028, while increasing its food only stores by 104 to 420. The openings will bring new store investment to 480 million pounds ($586.94 million), the newspaper added. ($1 = 0.8178 pounds)Reporting by Baranjot Kaur in Bengaluru; Editing by Daniel Wallis and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Man arrested after uranium found at UK's Heathrow Airport
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

Jan 15 (Reuters) - A man in his 60s has been arrested in connection with an investigation linked to the discovery of traces of uranium found in a cargo package at London's Heathrow Airport, the UK Metropolitan Police said on Sunday. The man was arrested on suspicion of a terror offence on Saturday and was released on bail as part of the investigation, the Police said. A very small quantity of uranium was detected in a package that arrived at Heathrow Airport on Dec. 29. Uranium can be used for civilian power generation and scientific purposes and is a key ingredient in nuclear weapons. Reporting by Baranjot Kaur in Bengaluru and William James in London; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla reports record quarterly deliveries but misses estimates
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

Jan 2 (Reuters) - Tesla Inc (TSLA.O) on Monday reported record production and deliveries for fourth-quarter electric vehicle deliveries but fell short of Wall Street estimates, burdened by lingering logistics problems and slowing demand amid rising interest rates and recession fears. The world's most valuable automaker delivered 405,278 vehicles in the last three months of the year, compared with Wall Street expectations of 431,117 vehicles, according to Refinitiv data. The company had delivered 308,600 vehicles in the same period a year earlier. Tesla delivered 388,131 Model 3 compact sedans and Model Y sports utility vehicles (SUVs) compared with 17,147 Model X and Model S luxury cars. Reporting by Akash Sriram and Baranjot Kaur in Bengaluru; Editing by Sriraj Kalluvila and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Zenseact becomes fully owned subsidiary of Volvo Cars
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +1 min

Dec 31 (Reuters) - Sweden-based Volvo Car AB said on Saturday it had taken 100% ownership of its autonomous driving (AD) software development subsidiary Zenseact. Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the AD software company a fully owned subsidiary of the Swedish automaker. Zenseact will continue to remain and operate as a standalone company, Volvo Cars said. Despite Volvo Cars taking ECARX's shares in the software company, the ongoing collaboration discussions between Zenseact and ECARX will continue as planned, Volvo Cars said. Zenseact received a strategic investment in 2021 from ECARX where it asked for 15% shareholding in the software company.

☆ Factbox: More than 800,000 without power in U.S.
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Dec 24 (Reuters) - More than 800,000 homes and businesses were without power in the eastern half of the United States and Texas as winter storms battered much of the country, according to data from PowerOutage.us. U.S. utilities were working to restore power after the storms moved on from their service territories but some were still dealing with high winds. The greatest numbers of outages were in New England in the northeast, with 248,162 customers without power in Maine, followed by New Hampshire, New York, Virginia and North Carolina. Nearly half of the 50 U.S. states counted more than 10,000 customers with outages due to the storms. The utility with the most outages was Central Maine Power with 188,861 customers without power.

☆ Hawaii volcano alert level lowered to watch - USGS
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +1 min

Dec 10 (Reuters) - Lava and volcanic gas emissions at Hawaii's Mauna Loa, the world's largest active volcano, declined on Saturday, the U.S. Geological Survey's (USGS) Hawaiian Volcano Observatory said. As a result, the Observatory downgraded the alert level for the volcano to a watch from the previous level of warning, with lava confined to a small area. Under a watch alert level, an eruption is underway but poses limited hazards. Mauna Loa began erupting in late November for the first time since 1984, ending its longest quiet period in recorded history. The behavior of the volcano suggests the eruption may end soon.

☆ Carl Icahn owns over 8% stake in beverage-can maker Crown Holdings -WSJ
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - Carl Icahn has a more than 8% stake in Crown Holdings Inc (CCK.N), the Wall Street Journal reported on Wednesday, adding that the activist investor believes the beverage-can maker should shed non-core units and buy back more stock. The billionaire has a stake worth about $700 million, which makes him the company's second-largest holder, the report said, citing people familiar with the matter. The company's existing market value is about $8.09 billion, according to Refinitiv data. Carl Icahn and Crown Holdings did not immediately respond to Reuters' requests for comment. Reporting by Baranjot Kaur in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

Walmart has agreed to pay $3.1 billion, mostly up front, according to two people familiar with the matter. The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion. CVS, Walgreens and Walmart are the three largest retail pharmacies in the country by market share. The agency has attributed much of the recent rise in overdose cases to illegally manufactured fentanyl, a powerful synthetic opioid. A congressional report last month put the economic toll of the opioid crisis in 2020 alone at $1.5 trillion.

The proposed settlement calls for CVS to pay $5 billion over 10 years, Walgreens to pay $5.7 billion over 15 years and Walmart to pay $3.1 billion, mostly up front, according to the people. Walgreens and CVS declined to comment. Walmart and a spokesperson for the plaintiffs' attorneys in the litigation did not immediately respond to requests for comment. The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion. CVS, Walgreens and Walmart are the three largest retail pharmacies in the country by market share.

☆ CVS, Walmart, Walgreens reach tentative $12 bln Opioid pact - Bloomberg News
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] The combination photo shows a logo of CVS in Manhattan, New York, U.S., August 1, 2016, re-usable Walmart bags in a newly opened Walmart Neighborhood Market in Chicago September 21, 2011 and a Walgreens sign in the Chicago suburb of Niles, Illinois, February 10, 2015. REUTERS/Andrew Kelly/Jim YoungNov 1 (Reuters) - CVS Health Corp (CVS.N), Walgreens Boots Alliance Inc (WBA.O) and Walmart Inc (WMT.N) have tentatively agreed to pay more than $12 billion to resolve thousands of state and local government lawsuits accusing the chains of mishandling opioid painkillers, Bloomberg News reported on Tuesday. The proposed settlement calls for CVS to pay $4.9 billion, Walgreens to pay at least $4 billion and Walmart to pay $3 billion, according to the report, citing people familiar with the matter. Reporting by Baranjot Kaur in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Dogecoin surges on Elon Musk's Twitter deal
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] A photo of Elon Musk is displayed on a smartphone placed on representations of cryptocurrency Dogecoin in this illustration taken June 16, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoOct 29 (Reuters) - Dogecoin surged more than 70% on Saturday, extending this week's gains after Elon Musk sealed a $44-billion deal to take over Twitter last week. Tesla started accepting dogecoin as payment for its merchandise early this year, and Musk's newly launched perfume brand can also be bought with dogecoin. Cryptocurrency exchange Binance which has invested $500 million into Musk's buyout of Twitter, said it is brainstorming strategies on how blockchain and crypto could be helpful to Twitter. Musk tweeted this month that he is buying Twitter to create an "everything app".

☆ Musk to provide choice in different versions of Twitter
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: 1 min

Oct 29 (Reuters) - Twitter users could in future choose a version of the social media platform they like by providing ratings on their tweets,Elon Musk, the new owner of the company, said in a tweet on Saturday. loading"Being able to select which version of Twitter you want is probably better, much as it would be for a movie maturity rating," he said. "The rating of the tweet itself could be self-selected, then modified by user feedback," he added. Musk tweeted on Friday that Twitter will form a content moderation council "with widely diverse viewpoints." Reporting by Baranjot Kaur in Bengaluru; editing by Clelia OzielOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Channel 4 explores non-profit trust ownership, The Telegraph reports
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +1 min

Oct 22 (Reuters) - British publicly-owned broadcaster Channel 4 is exploring whether it could be acquired by a non-profit trust as an alternative to a commercial privatisation, the Telegraph reported on Saturday. Register now for FREE unlimited access to Reuters.com RegisterFormer prime minister Boris Johnson's government was pursuing the sale of Channel 4, arguing such a move would ensure the future of the publicly-owned but commercially funded broadcaster. But the government changed tack after UK's Culture Secretary Michelle Donelan said last month she was re-examining the case for privatisation. Channel 4 was created by Conservative former prime minister Margaret Thatcher's government in the 1980s to deliver an edgy alternative to the BBC and ITV, with a focus on under-served audiences. Register now for FREE unlimited access to Reuters.com RegisterReporting by Baranjot Kaur in Bengaluru; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Credit Suisse taps RBC, Morgan Stanley for capital increase -Bloomberg News
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Oct 18 (Reuters) - Credit Suisse Group AG (CSGN.S) is working with banks including Royal Bank of Canada (RBC) (RY.TO) and Morgan Stanley (MS.N) on a potential capital increase, should it need to shore up its balance sheet and raise funds for its restructuring, Bloomberg News reported on Tuesday, citing people familiar with the matter. A capital increase through a possible share sale, under the name Project Ghana, could come after the bank's formal restructuring announcement on Oct. 27, the report added. Credit Suisse and Morgan Stanley declined to comment. Royal Bank of Canada did not immediately respond to a Reuters request for comment. Earlier, Reuters reported citing a source that Credit Suisse has approached at least one Middle Eastern sovereign wealth fund for a capital injection, while some funds are looking at the scandal-hit bank's businesses as potential investment opportunities.

☆ Dish Network chairman-backed SPAC in talks to buy wireless business unit
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Blank-check firm CONX Corp (CONX.O), backed by Dish Network Corp (DISH.O) Chairman Charles Ergen, said on Wednesday it has begun preliminary discussions to acquire Dish's retail wireless unit, Boost Mobile. Dish confirmed that it was in preliminary talks with CONX. Dish acquired Boost Mobile in 2020 as part of the T-Mobile (TMUS.O) and Sprint merger after the companies agreed to divest some assets including some wireless spectrum to create a new wireless competitor. read moreCONX also asked its stockholders to vote in favor of a proposal to extend the date by which it must complete a business combination with Boost Mobile from Nov. 3, 2022 to June 3, 2023. A special meeting of its stockholders will be held on Oct. 31, it added.

☆ Starlink helped restore energy, communications infrastructure in parts of Ukraine - official
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - SpaceX's Starlink services helped restore energy and communications infrastructure in Ukraine's critical areas, the country's Vice Prime Minister Mykhailo Fedorov said on Wednesday. "Over 100 cruise missiles attacked (Ukraine's) energy and communications infrastructure. But with Starlink we quickly restored the connection in critical areas," Fedorov tweeted. loadingSome of the Starlink internet devices that had suffered outages have come back online in the past few days, restoring crucial lines of communications in territory recently liberated from Russian occupation, the Financial Times reported on Wednesday, citing Ukrainian soldiers and officials. In February, when Ukraine's internet was disrupted following Russia's invasion, SpaceX Chief Executive Elon Musk said Starlink satellite broadband service was available in the country and SpaceX was sending more terminals to Ukraine.

☆ Australian fintech firm Airwallex raises $100 mln, retains $5.5 bln valuation
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - Australian fintech company Airwallex said on Tuesday it raised $100 million in an extension of a funding round, sustaining its $5.5 billion valuation. The Melbourne-based company said it secured more funds from existing investors, including Tencent Holdings Ltd (0700.HK), Sequoia Capital China and Lone Pine Capital. Australian industry superannuation fund HostPlus and a North American pension fund also participated in the round, Airwallex said. Register now for FREE unlimited access to Reuters.com RegisterWith the $100 million raised in the Series E extended round, Airwallex's total funding increased to more than $900 million, the company said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Harish Sridharan and Baranjot Kaur in Bengaluru; Editing by Tom Hogue and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

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