Usa Financial News

By Andrea Shalal and Jeff Mason

The SEC made a surprising decision on Thursday to pull back on its legal action against Ripple, affecting both CEO Brad Garlinghouse and co-founder Chris Larsen. This marks the third win in a row for Ripple in its legal battles.

The US Securities and Exchange Commission's (SEC) recent decision not to appeal a ruling that went against them in the Grayscale case brings the approval of spot Bitcoin ETFs in the US closer, JPMorgan argued in a research report released earlier this week.

The United States Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify “suspicious activity” related to funding terrorist groups.

Joe Biden on Thursday said the US and its allies through innovative projects like the India Middle East Economic Corridor are working to connect the Middle East countries to a better future. As he addressed the nation on his just concluded trip to Israel, Biden asked Congress for financial aid to the country that has been hit by a terrorist attack by Hamas. “The United States and our partners across the region are working to build a better future for the Middle East. One wherein the Middle East is more stable, better connected to its neighbours through innovative projects like the Indian Middle East Europe rail corridor that I announced this year at the summit of the world's biggest economies,” Biden said in his Oval Office address to the nation. “More predictable markets, more employment, less rage, less grievances, less war when connected.

By Jonathan Landay and Simon Lewis

Adani Group said on Friday that it has refinanced part of the debt taken for the acquisition of Ambuja Cements and ACC through a $3.5 billion financing package raised from a clutch of international banks. The loan will have a tenor of three years and will result in an interest cost saving of around $300 million, the Adani Group said, without disclosing the terms of the agreement. This comes at a time when interest rates have significantly gone up globally following rate hikes by the US Federal Reserve. The transaction is being financed by a consortium of 10 international banks including DBS Bank, First Abu Dhabi Bank, Mizuho Bank and MUFG Bank.

dengue prevention pill. The trial, presented at the American Society of Tropical Medicine & Hygiene Annual Meeting in Chicago, demonstrated that an antiviral pill known as JNJ-1802, developed by Johnson & Johnson, exhibited protective properties against dengue. This experimental pill was administered to healthy volunteers over a 26-day period, with another group receiving a placebo. On day five, all participants were subjected to an injection containing a type of dengue virus—a method referred to as a challenge trial.

Optimism that the SEC will soon approve a spot Bitcoin ETF is growing and this is sending Bitcoin (BTC) and the broader crypto market higher on Friday.

Merck & Co. agreed to buy the rights to sell Daiichi Sankyo Co.'s three experimental cancer drugs as it looks to sustain its dominance in cancer treatment. Daiichi rose as much as 18% on Friday, the biggest intraday jump since 2005, after Merck agreed to pay $4 billion upfront and as much as $22 billion to develop and market three cancer drug candidates.

Failed crypto exchange FTX has announced an updated plan for sending 90% of distributable funds—money it has recovered—to former customers in its bankruptcy proceedings, but that doesn't necessarily mean they will get back 90% of the money they lost.FTX is expected to file the proposal in a U.S. bankruptcy court by Dec. 16.

Coinbase Chief Legal Officer Paul Grewal believes that the U.S. Securities and Exchange Commission (SEC) will soon approve a spot Bitcoin (BTC) exchange-traded fund (ETF).

Economists raised their U.S. growth projections through early 2024 and trimmed recession odds to a one-year low as consumers continue to spend.

Investor positioning in stocks has become so bearish that it’s triggered a “contrarian buy signal” in a custom Bank of America Corp. indicator, setting up the asset class for a short-term rally, according to strategist Michael Hartnett.

WASHINGTON (Reuters) — The top Republican on the U.S. Senate's health committee has called on the chief executive of 23andMe to provide the panel with details after data from the family genetics website was advertised for sale on the dark web.

By Joseph White and Abhijith Ganapavaram

The US 10-Year Treasury yield briefly crossed above the 5% mark yesterday — the highest since 2007 — before settling at 4.98%, based on Treasury.gov data.

Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected.

The United States Securities and Exchange Commission (SEC) has secured a default judgment against Thor Technologies and its Chief Executive David Chin. 

Bitcoin (BTC) rose above $30,000 on Oct. 20, indicating that the path of least resistance is to the upside. Grayscale Investments filing a new application with the United States Securities and Exchanges Commission for a new spot Bitcoin ETF may have acted as a bullish trigger.

(This Oct. 18 story has been corrected to removes the reference to Senator Brian Schatz in paragraph 7)