Business

Banking agencies to provide guidance on crypto after better understanding risks

Banking regulators expect to provide industry guidance to financial institutions on crypto-related activities once agencies better understand the associated risks, said the acting chairman of the Federal Deposit Insurance Corp. “We must understand and assess the risks associated with these activities the same way that we would assess the risks related to any other new […]

Business

Russian business climate worsened in Oct -central bank

Russia’s central bank said on Thursday that its business climate index slid into negative territory in October, with future expectations becoming markedly less optimistic as production and demand assessments worsened. Businesses’ price expectations rose, partly due to a rise in costs, according to a central bank survey of Russian businesses. Russian companies took a hit […]

Business

Instagram to make it easier to avoid trolls

Instagram will enhance features that help users block the accounts of abusers and trolls on the social media platform, the Meta Platforms-owned (META.O) company said on Thursday. Users will now be able to block all existing accounts of a person, expanding a feature launched last year that only allowed the blocking of any new accounts […]

Business

Fed’s quantitative tightening could end in mid-2023, says UBS

The U.S. Federal Reserve will materially alter or fully stop shrinking its massive $8.9 trillion balance sheet by mid-2023, more than a year earlier than market expectations, according to Swiss lender UBS. The plans for balance sheet runoff will face several complications through 2023, leading the Fed to sharply slow or fully stop balance sheet […]

Business

Hedge funds see $26 bln in net outflows in Q3

Global investors redeemed $26 billion from hedge funds in the third quarter, in the second consecutive quarter of net asset outflows, industry data provider HFR said on Thursday. In the year, investors pulled out $33.7 billion from hedge funds worldwide, HFR showed, as poor performance has spooked pension funds, endowments and family offices. The HFRI […]

Business

Meta oversight board can now apply warning screens on content

Meta Platforms Inc’s (META.O) independent oversight board said on Thursday that starting this month it can decide on applying warning screens, marking content as “disturbing” or “sensitive”. The board, which already has the ability to review user appeals to remove content, said it would be able to make binding decisions to apply a warning screen […]

Business

Philip Morris sweetens offer for Swedish Match, calls it ‘best and final’

Marlboro maker Philip Morris International Inc (PM.N) on Thursday raised its buyout bid for Swedish Match AB (SWMA.ST) in a last-ditch effort to get backing for its $16 billion offer that has been met with shareholder opposition. Although Philip Morris raised its bid by more than 9% to 116 Swedish crowns per share and called […]