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July 1, 2022

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Blockchain payment company Roxe to go public via $3.6 bln SPAC deal

Reuters
June 21 (Reuters) – Blank check company Goldenstone Acquisition Ltd (GDST.O) said late on Tuesday that it has entered into a deal with blockchain-based payments company Roxe Holding Inc to take it public for a combined enterprise value of about $3.6 billion. The deal bucks an unfavorable market environment with......

Analysis: U.S. crypto-lending firms likely to see greater regulation after Celsius troubles

Reuters
WASHINGTON, June 16 (Reuters) – Liquidity troubles at crypto lending platform Celsius Network, which have left its 1.7 million customers unable to redeem their assets, will increase U.S. regulatory pressure on the sector, which was already on the defensive amid other crises this year. The industry has been battling scrutiny......

U.S. SEC looking into Musk’s Twitter stake purchase

Reuters
WASHINGTON, May 27 (Reuters) – The U.S. Securities and Exchange Commission (SEC) is looking into Tesla Chief Executive Officer Elon Musk’s disclosure of his stake in Twitter Inc (TWTR.N) in early April, according to a letter the agency sent to him that month. In the letter, now made public by......

Musk sued by Twitter investors for stock ‘manipulation’ during takeover bid

Reuters
NEW YORK, May 26 (Reuters) – Billionaire Elon Musk was sued by Twitter Inc (TWTR.N) investors claiming he manipulated the company’s stock price downward, as the chief executive of electric carmaker Tesla Inc (TSLA.O) mounts a $44 billion takeover bid for the social media platform. The investors said Musk saved......

U.S. SEC unveils rules to ensure ESG funds’ investments fall in line with their names, policies

Reuters
WASHINGTON/BOSTON, May 25 (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday will vote to propose a pair of rule changes aimed at stamping out unfounded claims by funds on their environmental, social and corporate governance (ESG) credentials, and enforcing more standardization of such disclosures. The proposals, which......

‘Significant issues remain’ in reaching deal over U.S.-listed Chinese company audits -SEC official

Reuters
WASHINGTON, May 24 (Reuters) – “Significant issues remain” in reaching a deal with China over a long-running dispute around auditing compliance of China-based companies listed on U.S. stock exchanges, a U.S. Securities and Exchange Commission (SEC) official said on Tuesday. The SEC’s international affairs chief, YJ Fischer, told an audience......

Glencore prepares to pay up to $1.5 bln to settle U.S., UK, Brazil probes

Reuters
Glencore agrees settlements in U.S., Brazil Glencore Energy (UK) charged with bribery over oil operations UK sentencing hearing called for June 21 LONDON, May 24 (Reuters) – Glencore Plc (GLEN.L) said on Tuesday it anticipates paying up to $1.5 billion to settle accusations of bribery and market manipulation by U.S.,......

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury

Reuters
May 18 (Reuters) – An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (.SPXESUP)because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk......

Allianz to pay $6 billion in U.S. fraud case, fund manager charged

Reuters
NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its U.S. asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the U.S. Department of......

Musk’s $44 bln Twitter buyout challenged in shareholder lawsuit

Reuters
May 6 (Reuters) – Elon Musk and Twitter Inc (TWTR.N) were sued on Friday by a Florida pension fund seeking to stop Musk from completing his $44 billion takeover of the social media company before 2025. In a proposed class action filed in Delaware Chancery Court, the Orlando Police Pension......

Congress approves tougher financial disclosure rules for U.S. judges

Reuters
WASHINGTON, April 27 (Reuters) – Legislation that would subject U.S. Supreme Court justices and federal judges to tougher disclosure requirements for their financial holdings and stock trades passed the House of Representatives on Wednesday in a rare show of bipartisanship. The bill, approved on a voice vote after winning Senate......

U.S. charges ex-Brazilian exec with planting false Berkshire Hathaway story

Reuters
NEW YORK, April 18 (Reuters) – U.S. authorities on Monday charged a former senior executive at IRB Brasil Resseguros SA (IRBR3.SA) with fraudulently planting a false story that Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) had made a significant investment in the Brazilian reinsurer. In a civil complaint filed in federal......

Twitter adopts ‘poison pill’ as challenger to Musk emerges

Reuters
April 15 (Reuters) – Twitter Inc (TWTR.N) adopted a ‘poison pill’ on Friday to limit Elon Musk’s ability to raise his stake in the social media platform, as a buyout firm emerged to challenge his $43 billion bid for the company. Thoma Bravo, a technology-focused private equity firm that had......

Amazon faces shareholder vote on treatment of warehouse workers

Reuters
Follows SEC backing for vote after guidance change Filed by retail activist platform Tulipshare LONDON, April 7 (Reuters) – Amazon.com Inc. (AMZN.O), the world’s biggest retailer, will face a shareholder vote calling for an independent audit of its treatment of warehouse workers after the top U.S. securities regulator turned down......

Prosecutor urges jury to convict ex-Goldman banker in ‘brazen’ 1MDB scheme

Reuters
NEW YORK, April 4 (Reuters) – A former Goldman Sachs (GS.N) banker should be convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund and causing “immeasurable” harm, a U.S. prosecutor told jurors in her closing argument on Monday. Roger Ng, Goldman’s former top investment banker for......

Priest shorting biotech stock owes SEC $160,000, faces lifetime ban

Reuters
Rev. Emmanuel Lemelson exits the federal courthouse in Boston, Massachusetts, U.S. November 3, 2021. Picture taken November 3, 2021. REUTERS/Nate Raymond Register now for FREE unlimited access to Reuters.com Register Judge rejects SEC’s request for larger penalty against Rev. Emmanuel Lemelson SEC can seek lifetime investment advisor bar based on......

Barclays faces $590 million hit, scrutiny over sales slip-up

Reuters
A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. REUTERS/Peter Nicholls Register now for FREE unlimited access to Reuters.com Register LONDON/NEW YORK, March 28 (Reuters) – British bank Barclays faces an estimated 450 million pound ($592 million) loss and regulatory scrutiny for exceeding a U.S. limit......

EXCLUSIVE Clients plead with top custodian banks to stay in Russia

Reuters
Banks face mounting pressure to commit to custody roles Banks say they will meet existing client obligations Some clients afraid exits will follow as costs soar LONDON/NEW YORK, March 23 (Reuters) – Global banks including Citigroup Inc (C.N), JPMorgan Chase & Co (JPM.N) and Societe Generale (SOGN.PA) face pressure to......

Foreigners banned from selling Russian stocks as market set for limited reopening

Reuters
March 23 (Reuters) – Russia plans to resume some stock trading on Thursday after a near month-long hiatus, with 33 rouble securities to be traded on the Moscow Exchange. Non-residents will have to wait, though – they will be barred from selling stocks and OFZ rouble bonds until April 1.......

U.S. SEC to Elon Musk: Regarding your tweets, a deal is a deal

Reuters
NEW YORK, March 22 (Reuters) – The top U.S. securities regulator on Tuesday urged a federal judge not to let Elon Musk escape an agreement requiring that his Twitter use be monitored, which the Tesla Inc (TSLA.O) chief executive considers part of a campaign of harassment. In a filing in......

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