Author: Press Room
© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly/File Photo By Svea Herbst-Bayliss and Jonathan Stempel (Reuters) – Elliott Investment Management, one of the world’s biggest hedge fund firms, on Friday sued the U.S. Securities and Exchange Commission to obtain more information about rule proposals that could affect how activist firms like Elliott do business. In a complaint filed on Thursday in the Washington, D.C. federal court, the firm founded by billionaire Paul Singer accused the…
© Reuters. A general view of buildings by the Nile River in Cairo, Egypt January 30, 2021. REUTERS/Mohamed Abd El Ghany/ File photo (Reuters) -Ratings agency Fitch downgraded Egypt’s long-term foreign-currency issuer default rating (IDR) to ‘B-‘ from ‘B’, citing increased financial risks and higher government debt. The downgrade reflects increased risks to Egypt’s external financing, macroeconomic stability and the trajectory of already-high government debt, the rating agency said. Recovery in Egypt’s key tourism industry, which had been hammered by the pandemic, has been offset by last year’s surge in energy prices and ongoing rise in global borrowing costs. This…
JHVEPhoto/iStock Editorial via Getty Images Enbridge (NYSE:ENB) closed +0.9% on Friday after reporting better than expected Q3 adjusted earnings and announcing deals to buy seven U.S. renewable natural gas facilities for US$1.2B and boost its stake in two German offshore wind projects for €625M (~US$668.7M). Q3 GAAP earnings fell to C$532M, or C$0.26/share, from C$1.28B, or C$0.63/share, in the prior-year quarter, while Q3 adjusted earnings slipped to C$1.27B, or C$0.62/share, from C$1.36B, or C$0.67/share, a year ago, but exceeded analyst consensus EPS of $0.58. Enbridge (ENB) attributed the declines mostly to non-operating factors including the absence in 2023 of a…
A federal three-judge panel in North Dakota has dismissed a lawsuit brought by Republican district officials who alleged that the consideration of race was unconstitutional in the creation of state House subdistricts that included ones encompassing tribal nations.The lawsuit filed early last year by the two GOP legislative district officials targeted the two subdivided districts the Legislature drew in 2021, which included subdistricts for the Fort Berthold and Turtle Mountain Indian reservations. The lawsuit alleged that the “racial gerrymandering” was a violation of the equal protection clause.ND POLITICIAN ACCUSED OF TRAVELING TO PRAGUE FOR SEX WITH MINOR TOOK TAXPAYER-FUNDED TRIPS…
As of November 1, the world’s top ten richest are worth nearly $50 billion less than a month ago. More than two-thirds of that decline is due to the drop in Elon Musk’s net worth during October.
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Will pumpkin spice lattes replace lipsticks as a recession-proof indulgence? It is a reasonable assumption to make, judging by the grande-sized quarterly sales and profit gains Starbucks served up this week. Despite concerns over a slowdown in its two biggest markets, US and China, the coffee group reported an 11 per cent rise in revenue to $9.4bn. That is a new high. Net income jumped almost 40 per cent to $1.2bn as coffee enthusiasts proved willing to pay more for their caffeine fixes.Yet…
© Reuters. Senior Deputy Governor of the Bank of Canada Carolyn Rogers takes part in a press conference in Ottawa, Ontario, Canada October 25, 2023. REUTERS/Patrick Doyle/File Photo (Reuters) – Bank of Canada’s Senior Deputy Governor Carolyn Rogers (NYSE:) said the number of so-called “negative amortization” mortgages is a concern, in an interview with Bloomberg News on Friday. “A rate hike is on the table until we are really confident that we are clearly on our way,” she said adding stickier-than-expected price pressures and excess demand could prompt another rate hike. Slowing core inflation is the primary requirement needed for…
© Reuters. Japanese firm, Earlyworks Co., Ltd., which operates the Grid Ledger System (GLS), a private blockchain technology, has been notified of its non-compliance with Nasdaq’s minimum bid price requirement. The warning was issued by Nasdaq’s Listings Qualifications Department on October 30, 2023. The company failed to meet the minimum bid price of US$1.00 per share under Nasdaq Listing Rule 5550(a)(2). This was determined based on the closing bid price of its American Depositary Shares (ADSs) over 30 consecutive business days from September 18 to October 27, 2023. Despite the notification, Earlyworks’ listing on the Nasdaq Capital Market remains unaffected…
Magellan Aerospace declares $0.025 dividend
A former U.S. Marine who served in the Trump administration as a low-level State Department aide was sentenced on Friday to nearly six years in prison for his role in the attack on the Capitol on Jan. 6, 2021.The former aide, Federico G. Klein, of Falls Church, Va., was a State Department employee when he used a stolen riot shield to repeatedly assault officers during several violent clashes in a tunnel below the Capitol, prosecutors said.He was arrested in March 2021 and indicted later that year.After a non-jury trial in July, Mr. Klein was convicted of eight felony charges, including…