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Genesis crypto lending unit files for bankruptcy in the US

Jan 20 (Reuters) – Crypto firm Genesis’s lending unit filed for U.S. bankruptcy protection against creditors on Thursday, topped by a market rout with the likes of exchange FTX and from the BlockFi lender. Genesis Global Capital, one of the largest crypto lenders, froze client redemptions on November 1. 16 after FTX stunned the financial …

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Southwest promises refunds as airline sees ‘certain’ financial impact

WASHINGTON, Dec 29 (Reuters) – Southwest Airlines (LUV.N) has promised to reimburse passengers for expenses such as hotels and car rental in addition to refunding tickets after canceling thousands of flights due to a huge winter storm and said there would be an as-yet-undetermined hit to its earnings. “There will definitely be an impact on …

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Southwest flight upheaval a ‘system failure’, says US

WASHINGTON, Dec 28 (Reuters) – U.S. Transportation Secretary Pete Buttigieg ratcheted up the heat on Southwest Airlines on Wednesday, saying thousands more canceled flights indicated a system failure at the low- cost. “We’re past the point where they could say it’s a weather-related issue,” Buttigieg said in an interview published by ABC News on its …

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Storm cuts oil, gas and power generation in the United States, pushing prices up

Dec 23 (Reuters) – Bitter cold and gusty winds on Friday knocked out power and shut down power generation across the United States, sending heating and electricity prices soaring as people braced for the parties. Winter Storm Elliott brought sub-freezing temperatures and severe weather warnings to about two-thirds of the United States, with cold and …

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Chinese firms avoid delisting as US audit watchdog gains full inspection access

NEW YORK/HONG KONG/WASHINGTON, Dec 15 (Reuters) – The U.S. accounting watchdog said on Thursday it had full access to inspect and investigate businesses in China for the first time ever, eliminating the risk about 200 Chinese enterprises to be launched. American scholarships. The statement by the Public Company Accounting Oversight Board (PCAOB) marks a victory …

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Ex-Theranos chairman Balwani sentenced to nearly 13 years for fraud

Dec 7 (Reuters) – A U.S. judge on Wednesday sentenced former Theranos Inc chairman Ramesh “Sunny” Balwani to 12 years and 11 months in prison for defrauding investors and patients of the blood testing startup run by Elizabeth Holmes, spokeswoman for the U.S. Attorney’s Office confirmed. U.S. District Judge Edward Davila in San Jose, Calif., …

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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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