WEU

Exclusive: Binance Moved $346 Million For Seized Crypto Exchange Bitzlato, Data Shows

LONDON, Jan 24 (Reuters) – Crypto giant Binance has handled nearly $346 million in bitcoin for digital currency exchange Bitzlato, whose founder was arrested by U.S. authorities last week for allegedly mining a “money laundering engine,” according to blockchain data seen by Reuters shows. The Justice Department on Jan. 18 said it charged Bitzlato co-founder …

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Oil settles mixed after hitting 7-week high on bright outlook for China

Brent and US crude at highest since early December The G7 wants two price caps for Russian petroleum products Indian crude imports hit 5-month high in December NEW YORK, Jan 23 (Reuters) – Oil prices stabilized on Monday, falling as investors enjoyed a jump to a seven-week high on optimism about a possible recovery in …

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New vendors are rushing to plug into the electric car market

WOKING, England, Jan 23 (Reuters) – The global auto industry has committed $1.2 trillion to the development of electric vehicles (EVs), providing a golden opportunity for new suppliers to grab contracts supplying everything from batteries to motors and inverters. Startups specializing in batteries and coatings to protect electric vehicle parts, and suppliers traditionally focused on …

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UK’s National Grid will pay people to use less energy during the cold snap

LONDON, Jan 23 (Reuters) – Britain’s National Grid (NG.L) said it would pay customers to use less electricity on Monday night and had asked for three coal-fired generators to be warmed up in case they are needed. the country is facing a cold snap. The group said it would activate a new program called Demand …

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Spotify to Lay Off Workforce This Week – Bloomberg News

Jan 22 (Reuters) – Spotify Technology (SPOT.N) is planning layoffs as early as this week to cut costs, Bloomberg News reported on Sunday, joining Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) which recently cut thousands of jobs. The report, which cites sources, says the number of jobs cut was not specified. Spotify did …

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Exclusive: Geely plans to turn London black cab maker into powerhouse

COVENTRY, England, Jan 23 (Reuters) – China’s Geely (0175.HK) is planning a big investment to transform the maker of London’s iconic black cabs into a high-volume all-electric brand with a range of commercial and passenger vehicles, unit leaders told Reuters. London Electric Vehicle Company (LEVC) is also aiming to expand its range of services, which …

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Feds seized nearly $700 million from FTX founder Bankman-Fried

Jan 20 (Reuters) – Federal prosecutors seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, much of it in the form of Robinhood stock, according to a court filing on Friday. Bankman-Fried, who was accused of stealing billions of dollars from FTX clients to pay debts incurred by his crypto-focused hedge …

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Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI

Jan 20 (Reuters) – Google’s parent company Alphabet Inc (GOOGL.O) is cutting around 12,000 jobs as it faces “a different economic reality”, it said in a memo, doubling down artificial intelligence (AI) and removing staff who support experimental projects. The job cuts affect 6% of its workforce and follow thousands of layoffs at tech giants …

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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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