Author: Press Room

© Reuters. China’s Premier Li Qiang speaks during the 26th ASEAN-China Summit at the 43rd ASEAN Summit in Jakarta, Indonesia, on September 6, 2023. Yasuyoshi Chiba/Pool via REUTERS/ File photo HONG KONG (Reuters) – China’s Premier Li Qiang will attend the opening ceremony and make a keynote speech at the 6th China International Import Expo and Hongqiao International Economic Forum held in Shanghai on November 5, state media reported on Friday.

3/3 © Reuters. FILE PHOTO: Japan’s Prime Minister Fumio Kishida receives salutes from Japan Maritime Self-Defence Force (JMSDF) soldiers during the International Fleet Review to commemorate the 70th anniversary of the foundation of the JMSDF, at Sagami Bay, off Yokosuka 2/3 By Nobuhiro Kubo, Takaya Yamaguchi and Tim Kelly TOKYO (Reuters) – A collapse in the yen is forcing Japan to scale back a historic five-year, 43.5-trillion-yen defence build-up aimed at helping to deter a Chinese invasion of Taiwan, according to eight people familiar with the matter. Since the plan was unveiled in December, the yen has lost 10% of…

© Reuters. Investing.com– Oil prices steadied in Asian trade on Friday after a weakened dollar and easing concerns over the Israel-Hamas war spurred wild swings over the prior sessions, although they were still set to close lower for a second straight week. Crude prices saw some strength this week after the stood pat on interest rates and offered somewhat dovish signals to the market, which in turn weighed on the dollar and triggered a rally in commodity prices. Oil prices surged over 3% on Thursday.  Dovish signals from the and the also offered some support. But this was largely offset…

Michael M. Santiago Sam Bankman-Fried, the disgraced founder of collapsed cryptocurrency exchange FTX (FTT-USD), was found gulity of all seven criminal fraud counts. A jury found him guilty and the former FTX CEO now faces a maximum sentence of 115 years in prison after jurors deliberated for less than five hours Thursday, according to media reports, including CNBC and Bloomberg. Judge Lewis Kaplan set a sentencing date for March 28, according to CNBC, which cited a source familiar. “Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history,” US Attorney Damian Williams, whose office led the investigation, said…

The Justice Department on Thursday opened a far-reaching civil rights investigation of two troubled jails in South Carolina after reports of violent and unhealthy living conditions, failure to treat mentally ill prisoners and the abuse of inmates by guards.The department initiated a so-called pattern or practice investigation into the Sheriff Al Cannon Detention Center near Charleston and the Alvin S. Glenn Detention Center in Columbia after the deaths of 14 inmates over the past several years, Kristen M. Clarke, the assistant attorney general who oversees the civil rights division, told reporters.The investigation will focus on “credible allegations” that a number…

A jury found Sam Bankman-Fried guilty in his fraud trial over the collapse of FTX.His fate was sealed by the testimony of his inner circle at his two companies, FTX and Alameda.SBF has himself to blame for their cooperation since he made them complicit in the first place. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app If you throw your friends under the bus, can you really be surprised if they do the same to you when they get the chance?That’s a question for…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.FTX founder Sam Bankman-Fried was convicted of fraud and money laundering by a New York jury in a landmark criminal verdict that is likely to condemn the former crypto tycoon to decades in prison and bolster US authorities’ attempts to bring an unruly financial sector to heel.The decision in the highest-profile cryptocurrency-related trial to date was delivered just after 7:40pm on Thursday evening, following less than five hours of deliberation by the jury’s nine women and three men over seven charges including…

© Reuters. FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves federal court in New York City, U.S., February 9, 2023. REUTERS/Mike Segar/File Photo By Luc Cohen NEW YORK (Reuters) – A few years after graduating from college, Sam Bankman-Fried grew worried he was not taking enough risks. So the son of two Stanford Law School professors quit his Wall Street job and in 2017 started a cryptocurrency hedge fund, setting off a sequence of events that culminated on Thursday in his criminal conviction over what federal prosecutors…

© Reuters. Tesla, X (formerly known as Twitter) and SpaceX’s CEO Elon Musk attends the AI Safety Summit at Bletchley Park in Bletchley, Britain on November 1, 2023. Leon Neal/Pool via REUTERS NEW YORK (Reuters) – Elon Musk asked a federal judge on Thursday not to force him to testify in the U.S. Securities and Exchange Commission’s probe into his $44 billion takeover of social media site Twitter. Musk filed the objections in San Francisco federal court, where the SEC sued him on Oct. 5 to make him testify for the probe, which it launched in April 2022. The SEC’s…

© Reuters. FILE PHOTO: General view of Neste’s oil refinery, with a total refining capacity of about 13.5 million tonnes per year, in Porvoo, southern Finland, November 17, 2015.REUTERS/Jussi Rosendahl/File Photo By Arathy Somasekhar (Reuters) – Oil prices were little changed on Friday, heading for their second straight week of losses as the U.S. central bank left the door open for possible future rate hikes and worries that the Middle East conflict would disrupt supply eased. futures rose 6 cents to $86.91 a barrel by 0010 GMT, while U.S. West Texas Intermediate crude futures gained 12 cents, or 0.2%, to…