Archegos Capital Management founder Sung Kook “Bill” Hwang has been convicted of fraud and other charges by a jury in a Manhattan federal court at a criminal trial in which prosecutors accused him of market manipulation ahead of the 2021 collapse of his $36bn private investment firm. On Wednesday, the…
The United States Federal Reserve faces a cooling job market as well as persistently high prices, Chairman Jerome Powell has said in testimony to the US Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation of the past two years that suggests it is moving closer…
India’s securities regulator has alleged Hindenburg colluded with another entity to help it short Adani Group. Hindenburg Research has denied allegations by India’s securities regulator that it colluded with a United States asset manager to use nonpublic information to set up a short bet against Adani Group last year, which…
Nike’s stock has plunged as a forecast for a surprise drop in annual sales amplified investor concerns about the pace of the sportswear giant’s efforts to stem market share losses to upstart brands such as On and Hoka. It was the worst day ever for the stock, which slumped 20…
Boeing had ‘blatantly violated’ federal rules by providing ‘non-public investigative information’, investigators said. United States investigators have sanctioned Boeing for revealing details of a probe into a 737 MAX mid-air blowout and said they would refer its conduct to the US Department of Justice (DOJ), prompting the embattled planemaker to…
The shopping section is Amazon’s most aggressive response to the growth of bargain sites like Temu and Shein. Amazon.com plans to launch a section on its shopping site featuring cheap items that ship directly to overseas consumers from warehouses in China, tech news site The Information has reported, citing slides…
Increased attention to home prices comes as the housing crunch becomes an increasing issue in upcoming elections. The Biden administration is announcing new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the…
City leader John Lee says move will strengthen competitiveness of the Asian financial hub. Hong Kong is set to end its decades-long practice of shutting the stock market during typhoons and extreme weather. Hong Kong Chief Executive John Lee said the change was widely supported by the financial sector and…
S&P 500 gains 0.3 percent ahead of US Federal Reserve’s latest decision on interest rates. The US stock market has hit record highs ahead of the Federal Reserve’s latest decision on interest rates. The S&P 500, which tracks the stock performance of 500 of the largest publicly traded companies, gained…
Indian Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) campaigned on India’s sizeable economic expansion in the lead-up to the country’s recent national elections. Since Modi came to power in 2014, GDP per capita has risen from about $5,000 to more than $7,500. India’s GDP growth hit 8.4…
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