Author: Press Room
By Douglas Gillison and Chris Prentice (Reuters) -The Federal Deposit Insurance Corporation (FDIC) is investigating potential misconduct by executives and board members of First Republic Bank (OTC:), raising the prospect of stiff penalties for the failed bank’s former bosses. “We can confirm a D&O probe into First Republic is taking place,” a spokesperson told Reuters on Wednesday, referring to the bank’s directors and officers. The regulator did not provide further details. The investigation, which has not previously been reported, is the third the FDIC has opened into bank failures earlier this year which cost the federal government’s deposit insurance fund…
© Reuters. FILE PHOTO: A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. REUTERS/Benoit Tessier/File Photo WASHINGTON (Reuters) -Boeing said on Wednesday it is investigating a cyber incident impacting elements of the company’s parts and distribution business and is cooperating with law enforcement. Boeing (NYSE:) acknowledged the incident days after the Lockbit cybercrime gang said on Friday it had stolen “a tremendous amount” of sensitive data from the U.S. planemaker that it would dump online if Boeing didn’t pay ransom by Nov. 2. Boeing declined to comment on…
IR_Stone/iStock via Getty Images Shares of Super Micro Computer (NASDAQ:SMCI) on Wednesday rose as much as 10.5% in extended trading, after the information technology services provider provided strong guidance despite supply constraints. SMCI stock was last up 3.8% to $261.87 after hours. San Jose, Calif.-based Super Micro (SMCI) makes products such as rackmount servers and graphics processing unit (GPU) servers, motherboards and chassis, and ethernet switches and adapters. The company posted FQ1 2024 adjusted earnings per share of $3.43, beating estimates by 18 cents. Revenue rose 14.6% Y/Y to $2.12B, beating expectations by $60M. Semiconductor equipment manufacturers, chipmakers and IT…
A new national poll suggests that independent presidential candidates Robert F. Kennedy Jr. and Cornell West pull support from both President Biden and former President Donald Trump — the two likely major party nominees — in a hypothetical four-way 2024 general election showdown.Biden stands at 47% support and Trump at 46% among registered voters in a Quinnipiac University poll released on Wednesday. The findings are unchanged from Quinnipiac’s August and September surveys.”Democrats support Biden 94 – 4 percent and Republicans support Trump 94 – 4 percent. Independents are split, with 45 percent supporting Trump and 44 percent supporting Biden,” the…
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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Donald Trump Jr distanced himself from the financial statements at the centre of the civil fraud suit threatening his family, saying he relied on outside accountants and the Trump Organization’s former chief financial officer to prepare them.Donald Trump’s eldest son took the witness stand on Wednesday in a trial resulting from a civil lawsuit brought by New York attorney-general Letitia James against the Trump Organization and members of the Trump family. He is to be followed by his brother Eric, his father…
© Reuters. A general view of the Central Bank headquarters building in Brasilia, Brazil February 14, 2023. REUTERS/Adriano Machado/File Photo By Marcela Ayres BRASILIA (Reuters) – Brazil’s central bank cut its benchmark interest rate by 50 basis points on Wednesday for the third time in a row and once again signaled more of the same for its upcoming meetings, while also flagging an “adverse” external backdrop. The bank’s rate-setting committee, known as Copom, unanimously reduced its Selic benchmark interest rate to 12.25%, matching the expectations of all 40 economists polled by Reuters. “If the scenario evolves as expected, the committee members unanimously…
© Reuters. Miniatures of windmill, solar panel and electric pole are seen in front of Brookfield Renewable logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Australia’s Origin Energy said on Thursday it had received a sweetened takeover bid from a Brookfield consortium, valuing the power producer at A$16.40 billion ($10.49 billion), days after its top shareholder rejected the previous offer. The consortium led by Canada’s Brookfield is now offering Origin shareholders A$9.53 per share, up 8.2% from the prior offer of A$8.81 apiece, and a 5.1% premium to its last close. “The Origin board unanimously…
© Reuters. A Marathon Oil well site is seen, as oil and gas activity dips in the Eagle Ford Shale oil field due to the coronavirus disease (COVID-19) pandemic and the drop in demand for oil globally, in Texas, U.S., May 18, 2020. Picture taken May 18, 2020. REUTERS By Arathy Somasekhar HOUSTON (Reuters) – Marathon Oil (NYSE:) on Wednesday posted a third quarter profit that fell 44% from a year ago as energy prices fell, but results beat Wall Street analysts’ forecasts on higher than expected oil and gas production. Net production for the quarter rose nearly 20% to…
Ryerson acquires stainless steel, aluminum sheet and coil processor TSA