Kim Kardashian pays $1.26 million fine for paid crypto ad, SEC says

WASHINGTON, Oct 3 (Reuters) – Kim Kardashian has promoted everything from appetite-suppressing lollipops to melon-flavored liqueur to toilet paper, but it was her foray into the murky world of cryptocurrencies that got her into hot water. The reality television star and influencer has agreed to settle charges of unlawfully touting a crypto security and to … Read more

Credit Suisse shares slip despite moves to soothe investor concerns

Credit Suisse caught in market turbulence ahead of revamp Shares fell as much as 10% in early trading on Monday Bank’s euro-denominated bonds reach record lows Swiss bank says its capital, liquidity are strong ZURICH, Oct 3 (Reuters) – Credit Suisse (CSGN.S) shares slid by as much as 10% on Monday, reflecting market concerns ahead … Read more

Analysis: Under water: how the Bank of England threw markets a lifeline

Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON/NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to meet margin … Read more

Stampede, riot at Indonesia football match kill 174, league suspended

East Java stadium disaster apparently worst since 1964 Around 180 injured during crowd stampede Indonesia football association suspends league to investigate Police say they fired tear gas to control crowd MALANG, Indonesia, Oct 2 (Reuters) – At least 174 people were killed and 180 injured in a stampede and riot at a soccer match in … Read more

Japan spent record of nearly $20.0 bln on intervention to support the yen

Intervention drains nearly 15% of readily available funds Japan can avoid selling US Treasury bills for now – analysts Impact of further intervention may diminish – analysts TOKYO, Sept 30 (Reuters) – Japan spent up to a record 2.8 trillion yen ($19.7 billion) intervening in the foreign exchange market last week to prop up the … Read more

UK pension funds ask corporates for cash after applicable blow-up sources

LONDON, Sept 30 (Reuters) – British pension funds with big losses in gilt market derivatives have sought emergency funds from the companies they manage money for as they race to dump assets to raise cash, industry sources said on Friday. Many pension funds were caught out during the surge in bond yields this week that … Read more

Swiss National Bank ends era of foreign currency purchases

SNB holds foreign currency purchases to curb franc strength Sold 5 million Swiss francs worth of foreign currency in Q2 SNB spent 353 billion francs in 7-1/2 years on forex Policy seen as success by economists ZURICH, Sept 30 (Reuters) – The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign … Read more

Elon Musk set to showcase Tesla’s humanoid robot after delay

SAN FRANCISCO, Sept 30 (Reuters) – Tesla (TSLA.O) CEO Elon Musk has said a robot business will be worth more than its cars, and on Friday investors, customers and potential workers expect to see a prototype at Tesla’s “AI Day ” that could prove whether the bot named “Optimus” is ready for work. The robot … Read more

Barclays hit by $361 million US penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with US regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO CS Venkatakrishnan’s first year in charge. Barclays shares rose 2% in early trading … Read more

EU countries approve energy windfall levies, turn to gas price cap

EU approves energy windfall profit levies Countries eye gas price caps as their next move States split over how to contain sky-high prices BRUSSELS, Sept 30 (Reuters) – European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits, and began talks on their next move to tackle Europe’s energy crunch … Read more