Electric vehicle maker Lucid bursts into Saudi PIF report to buy remaining stake

Electric vehicle maker Lucid bursts into Saudi PIF report to buy remaining stake

Jan 27 (Reuters) – Shares of Lucid Group (LCID.O) jumped 43% on Friday, trimming gains after doubling down on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted buy the electric vehicle manufacturer. The speculation stemmed from an “uncooked” alert attributed to deals website Betaville, using its term for market gossip. Lucid was the … Read more

Indian Adani begins record sell-off in shares as short seller triggers $44bn rout

Indian Adani begins record sell-off in shares as short seller triggers bn rout

MUMBAI, Jan 27 (Reuters) – Shares of Indian firm Adani Enterprises (ADEL.NS) fell 15% on Friday as a scathing report from a U.S. short seller sparked a rout at the conglomerate’s listed companies , casting doubts on how investors will react to the company’s record $2.45 billion secondary sale. Seven listed companies in the Adani … Read more

Rupert Murdoch drops proposal to merge Fox, News Corp, considers sale of Move

Rupert Murdoch drops proposal to merge Fox, News Corp, considers sale of Move

Jan 24 (Reuters) – Rupert Murdoch on Tuesday withdrew his proposal to bring together News Corp (NWSA.O) and Fox Corp as the company also plans to sell Move Inc, which operates the Realtor.com website, to the CoStar Group, according to to a regulatory filing and to sources familiar with the process. Three sources familiar with … Read more

China proposes Sri Lanka debt moratorium, IMF aid still uncertain

China proposes Sri Lanka debt moratorium, IMF aid still uncertain

China offers debt service relief in 2022, 2023 Sri Lankan sources unsure if China’s letter will be enough for IMF Broad IMF-China deal on Zambia could provide clues NEW DELHI/COLOMBO, Jan 24 (Reuters) – The Export-Import Bank of China has offered Sri Lanka a two-year debt moratorium and said it would support the country’s efforts … Read more

Wall Street falters after mixed earnings and trade glitch

Wall Street falters after mixed earnings and trade glitch

SEC investigates NYSE bell opening issue 3M slips on pessimistic forecast for the first quarter J&J comes across a sell warning; GE down on weak earnings Microsoft to release quarterly results after market close Indices: Dow up 0.18%, S&P 500 down 0.13%, Nasdaq down 0.25% NEW YORK, Jan 24 (Reuters) – Wall Street was mixed … Read more

Exclusive: Binance Moved $346 Million For Seized Crypto Exchange Bitzlato, Data Shows

Exclusive: Binance Moved 6 Million For Seized Crypto Exchange Bitzlato, Data Shows

LONDON, Jan 24 (Reuters) – Crypto giant Binance has handled nearly $346 million in bitcoin for digital currency exchange Bitzlato, whose founder was arrested by U.S. authorities last week for allegedly mining a “money laundering engine,” according to blockchain data seen by Reuters shows. On Jan. 18, the Justice Department said it had charged Bitzlato … Read more

Cryptoverse: Bitcoin Investors Take Control

Cryptoverse: Bitcoin Investors Take Control

Jan 24 (Reuters) – Paranoid? The fall of dominoes from FTX and other crypto custodians is enough for the most confident investor to grab their bitcoin and stuff it under the mattress. In effect, holders large and small are taking “self-custody” of their funds, moving them from crypto exchanges and trading platforms to personal digital … Read more

Lab-grown meat is getting closer to American plates

Lab-grown meat is getting closer to American plates

WASHINGTON, Jan 23 (Reuters) – Once the stuff of science fiction, lab-grown meat could become reality in some restaurants in the United States as early as this year. Cultured meat company executives are optimistic that meat cultured in huge steel tanks could be on the menu within months of a company getting the green light … Read more

New vendors are rushing to plug into the electric car market

New vendors are rushing to plug into the electric car market

WOKING, England, Jan 23 (Reuters) – The global auto industry has committed $1.2 trillion to the development of electric vehicles (EVs), providing a golden opportunity for new suppliers to grab contracts supplying everything from batteries to motors and inverters. Startups specializing in batteries and coatings to protect electric vehicle parts, and suppliers traditionally focused on … Read more

Feds seized nearly $700 million from FTX founder Bankman-Fried

Feds seized nearly 0 million from FTX founder Bankman-Fried

Jan 20 (Reuters) – Federal prosecutors seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, much of it in the form of Robinhood stock, according to a court filing on Friday. Bankman-Fried, who was accused of stealing billions of dollars from FTX clients to pay debts incurred by his crypto-focused hedge … Read more