New York Financial News

By Luc Cohen

(Reuters) -S&P Global cut its credit ratings and outlook on multiple U.S. regional banks on Monday, saying higher funding costs and troubles in the commercial real estate (CRE) sector would likely test their credit strength.

The move follows similar action by Moody's, warning funding risks and weaker profitability will likely test the sector's credit strength.

Softbank bought a 25% stake in Arm last week that valued it at $64bn, returning money to its Vision Fund and potentially setting a floor for the valuation.

Conquering this enigmatic word puzzle, a task that sometimes proves more elusive than it seems has been made easier by including a trove of online hints and clues.

Sam Bankman-Fried, founder of the now-bankrupt cryptocurrency exchange FTX, is due back in court on Tuesday for the first time since a US judge revoked his bail and sent him to jail, and is expected to plead not guilty to a new indictment alleging fraud and conspiracy charges. The 31-year-old former billionaire has been behind bars since Aug. 11, when US District Judge Lewis Kaplan in Manhattan revoked his bail for allegedly tampering with witnesses at least twice.

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

The move follows similar action by Moody's, warning funding risks and weaker profitability will likely test the sector's credit strength.

United States prosecutors have put forward their proposed instructions to the jury ahead of the October trial for FTX co-founder Sam Bankman-Fried.

Donald Trump to skip Wednesday's first debate of the 2024 presidential primary season likely deprives Fox of a huge late-summer audience. Even worse for the network, Trump has talked of appearing in an online interview with former Fox star Tucker Carlson at the same time. Trump's announcement on Sunday wasn't necessarily a surprise.

Lachlan Murdoch has paid more than $1.3 million in legal costs to Crikey to settle the bill associated with the media mogul’s abandoned defamation proceedings against the small Canberra publisher.

The New Yorker. The assertion by the ex-Pentagon official is in stark contrast to Musk's statement from last year where he claimed he talked to Putin only once since the start of the war.

Lithium producer Allkem’s profit soared to a record as its shareholders prepare to vote on a merger with downstream processing specialist Livent later this year.

Goldman Sachs is exploring a sale of an investment-advisory business it bought four years ago, undoing another signature deal under CEO David Solomon’s ill-fated push to manage money for a broader set of customers.

A federal judge overseeing former FTX CEO Sam Bankman-Fried’s criminal case has issued an order allowing Sam Bankman-Fried to meet with his legal team outside of jail for roughly seven hours.

Finra said Monday that it appointed Bill St. Louis as head of enforcement, making him responsible for the agency’s 350 enforcement staffers in 11 offices across the United States.

By Tatiana Bautzer and Saeed Azhar

That lull snapped Thursday, when Bitcoin plunged more than 8% in the space of a few hours to a two-month low of $25,314 late in the New York day. The slump sparked a broad decline across all of crypto, leading to more than $1 billion in liquidations and putting Bitcoin on pace for its worst week since November and crypto exchange FTX’s collapse. The carnage — fueled by the prospect of prolonged high interest rates and exacerbated by thin crypto trading — was a reminder of the various threats that continue to stalk digital assets, from hostile regulators to a broader rout in risk assets. And even as Bitcoin has recovered smartly from last year’s lows, many investors are still sitting out, depriving the market of the breadth and depth that are key ingredients for a sustained bull run. “There are still significant amounts of macro uncertainty keeping investors away, and liquidity is still thin,” said Noelle Acheson, author of the “Crypto Is Macro Now” newsletter and former head of market insights at Genesis Trading. “Bottom line, there’s not yet enough conviction.”

By Milana Vinn and Anirban Sen

By Chris Prentice

Fintech investment adviser Titan Global Capital Management has agreed to a cease-and-desist order by the United States Securities and Exchange Commission (SEC), along with censure and penalties after the agency pressed charges against it relating to advertising and compliance failures.