BAC

HSBC considers windfall dividend from $10 billion sale of Canadian unit to RBC

Deal comes under pressure from Chinese shareholders Analysts hail ‘sense’ deal The bank could return the proceeds of the transaction to the shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its Canadian business to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion). dollars) in cash, thus paving the …

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Crypto lender BlockFi files for bankruptcy, cites exposure to FTX

Filing follows weeks after FTX collapse FTX listed as BlockFi’s #2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the dramatic collapse of the FTX exchange …

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Foxconn apologizes for payroll error at Chinese iPhone factory after workplace unrest

Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over wages and conditions Apple says it has a team on the ground in Zhengzhou TAIPEI/SHANGHAI, Nov 24 (Reuters) – Foxconn (2317.TW) said on Thursday that a payroll-related “technical error” occurred when hiring new hires at a coronavirus-hit iPhone …

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Men wielding batons smash surveillance cameras at iPhone factory in China

SHANGHAI, Nov 23 (Reuters) – Men wielding batons smashed surveillance cameras and windows at a huge campus owned by Apple (AAPL.O) supplier Foxconn (2317.TW) in the Chinese city of Zhengzhou, scenes broadcast live on Kuaishou’s short video platform shown on Wednesday. Hundreds of workers demonstrated on campus, home to the world’s largest iPhone factory, where …

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Musk tells Twitter not to restart blue check verification

Nov 21 (Reuters) – Twitter’s new owner Elon Musk said on Monday the social media company was pausing the relaunch of its blue check subscription service, a delay from its original tentative schedule to bring the service back on the platform. “Withholding Blue Verified relaunch until there is high confidence in stopping spoofing,” Musk said …

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Bankman-Fried’s FTX EXCLUSIVE Parents Bought Bahamian Property Worth $121 Million

FTX unit purchased 7 condos in upscale resort for “key personnel” Bankman-Fried’s parents named owners of $16.4 million vacation home Bankman and Fried tell Reuters: Seeking to return the deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Fried’s FTX, his parents and top executives of the failed cryptocurrency exchange have purchased at …

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Crypto lender Genesis says it has no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it had no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX l forced to suspend customer refunds. “We do not intend to file for bankruptcy imminently. Our goal is to resolve the current situation on a consensual basis without …

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Collapsed FTX owes nearly $3.1 billion to top 50 creditors

Nov 20 (Reuters) – Cryptocurrency exchange FTX, which has sought U.S. bankruptcy court protection, said it owed its 50 biggest creditors nearly $3.1 billion. The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in Delaware …

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FTX lays off three of its top executives – WSJ

Nov 18 (Reuters) – Cryptocurrency exchange FTX, which recently sought protection in a U.S. bankruptcy court, has fired three of its top executives, including co-founder Gary Wang, The Wall reported on Friday. Street Journal, quoting an FTX spokeswoman. The other fired executives were engineering director Nishad Singh and Caroline Ellison, who ran FTX’s trading arm, …

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