End of easy-cash era is going to hurt

LONDON, Feb 1 (Reuters) – The end of the easy-cash era is over and its impact has yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high inflation has passed. US and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central … Read more

People who posted Sam Bankman-Fried’s bail should be named, US judge rules

NEW YORK, Jan 30 (Reuters) – A US judge on Monday said the names of two people who helped guarantee bail for indicted FTX cryptocurrency exchange founder Sam Bankman-Fried should be made public, but put his ruling on hold pending an expected appeal. US District Judge Lewis Kaplan in Manhattan ruled in favor of several … Read more

Exclusive: Bed Bath & Beyond preparing to file bankruptcy as soon as this week

NEW YORK, Jan 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is preparing to seek bankruptcy protection as soon as this week, and has lined up liquidators to close additional stores unless a last-minute buyer emerges, four people familiar with the matter said on Monday. The timing of any bankruptcy filing was in flux … Read more

US court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits

Jan 30 (Reuters) – A US appeals court upended Johnson & Johnson’s (JNJ.N) attempt to offload into bankruptcy tens of thousands of lawsuits over its talc products, ruling the healthcare conglomerate improperly placed a subsidiary into Chapter 11 proceedings even though it did not face financial distress. The decision by the US 3rd Circuit Court … Read more

Adani’s $2.5 billion share sale faces crucial day after rout

NEW DELHI, Jan 29 (Reuters) – Gautam Adani faces a critical day on Monday with his flagship company’s $2.5 billion share sale’s second day of bidding overshadowed by a $48 billion rout in the Indian billionaire’s stocks which was sparked by a US short seller’s report. Seven listed companies belonging to the Adani conglomerate, which … Read more

Ghana and capital market operators agree on domestic debt exchange terms

ACCRA, Jan 27 (Reuters) – Ghana’s government and the Ghana Securities Industry Association (GSIA) have reached an understanding on the terms of participation by capital market operators in the country’s domestic debt exchange (DDE) programme, they said on Friday. Crisis-hit Ghana has to restructure its mountain of debt in order to access a relief package … Read more

FTX founder Bankman-Fried objects to tighter bail, says prosecutors ‘sandbagged’ him

NEW YORK, Jan 28 (Reuters) – Lawyers for Sam Bankman-Fried on Saturday urged a US judge not to ban the indicted FTX cryptocurrency executive from communicating with former colleagues as part of his bail, saying prosecutors “sandbagged” the process to put their client in the “worst possible light.” The lawyers were responding to a Friday … Read more

UK regional airline Flybe ceases trading, cancels all flights

Collapses for the second time in three years 276 workers made redundant by administrators About 75,000 customers had future bookings Hurt by delayed delivery of aircraft Rivals seeing rebounding demand LONDON, Jan 28 (Reuters) – British regional airline Flybe on Saturday ceased trading for the second time in three years, with all flights canceled and … Read more

China offers Sri Lanka debt moratorium, IMF help still in doubt

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

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

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