Reuters Financial News

Tether, the issuer of the popular stablecoin USDT, has announced its intention to freeze addresses associated with sanctioned entities. 

Belgian man was acquitted of a drunk-driving charge on Monday after court officials learned he suffers from a very rare metabolic condition that causes his body to turn certain foods into alcohol.The 40-year-old man, who has not been named publicly, has a condition called auto-brewery syndrome (ABS). He was examined by three separate doctors who told the court the man does indeed suffer from ABS, Reuters reported.Due to his condition, the man’s body creates ethanol, which is intoxicating, after ingesting sugary and starchy foods.

revenue to $16.57 billion, the first drop in seven quarters, as the U.S. planemaker slows production of its strongest-selling jets following a January mid-air blowout. The U.S. planemaker said its first-quarter cash burn, a metric closely watched by investors, was $3.9 billion, compared with negative $786 million a year ago.

Oil prices rose in early trade on Wednesday, adding to gains in the previous session, after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand, and attention shifted away from hostilities in the Middle East. Brent crude futures rose 9 cents, or 0.1%, to $88.51 a barrel and U.S. West Texas Intermediate crude futures gained 10 cents, or 0.11%, to $83.45 a barrel at 0031 GMT.

to an all-time high of $2,431.29 on April 12, according to news agency Reuters. US gold futures slipped 0.6 per cent to $2,331.80. Elsewhere, spot silver was little changed at $27.17.

technology companies that do not co-operate with laws allowing security agencies to access encrypted communication. In a speech to be delivered in Canberra on Wednesday, agency chief Mike Burgess will outline how «offshore extremists» are asking a commercially available artificial intelligence program for advice on building weapons.

defence spending is concerning given its economy is «failing», the head of the U.S. Indo-Pacific Command said on Tuesday. Speaking to reporters in Tokyo, Admiral John Aquilino said China's economy had been battered by turmoil in its real estate sector and asserted that its official growth rates were «not real». He also said China was spending «drastically more» on its military than the 7.2% increase it declared last month.

Chinese banks off the global financial system, in the hopes of stopping Beijing's commercial support of Russia's military production, the Wall Street Journal reported on Monday, citing people familiar with the matter. With Secretary of State Antony Blinken due to visit China this week, it remains to be seen whether this financial threat will dent the China-Russia trade enabling Moscow to rebuild its military after losses in Ukraine, the report said. Blinken on Friday criticized Chinese support for Russia's defence industry, saying Beijing was the key contributor to Moscow's war in Ukraine through its provision of critical components for weaponry.

earthquake on April 3 claimed the lives of at least 14 people and there were over 1,000 aftershocks since then. 1) Many aftershocks rocked Hualien in eastern Taiwan on late Monday and early Tuesday. However, no fatalities or significant damage was recorded.

Paytm Payments Bank, said on April 22 that the bank's board is independent and strong to deal with regulatory issues. “I or anyone from OCL have nothing to do personally with the payments bank," said Vijay Shekhar Sharma during a webinar, as quoted by Reuters.

Prompted by renewed US oil sanctions, Venezuela’s state-controlled oil company PDVSA intends to boost its use of digital currencies in crude oil and fuel exports, Reuters reported on Monday.

Ola Cabs IPO: Ride-hailing aggregator Ola Cabs aims to secure $500 million through its initial public offering (IPO), targeting a valuation of approximately $5 billion, news agency Reuters reported on Friday. As stated by sources in the report, Ola plans to submit its IPO papers for approval to the Securities and Exchange Board of India (SEBI) within the next three months. SoftBank-backed Ola is presently in talks with investment banks including Goldman Sachs, Bank of America, Citi, Kotak, and Axis.

₹58,89,117 on Wazirx. The event was highly anticipated by cryptocurrency enthusiasts who believe it will solidify Bitcoin's value as a scarce asset. Bitcoin's founder, Satoshi Nakamoto, capped the total supply at 21 million coins.

Stablecoin Tether's recent growth is being driven by its use as an alternative to the U.S. dollar in emerging markets, rather than by demand for cryptocurrency trading, Tether CEO Paolo Ardoino told Reuters on Friday. Tether issues a stablecoin, also called Tether or USDT, which is designed to maintain a constant value of $1 and is widely used in crypto-to-crypto trading. It has grown rapidly in recent years, hitting more than $100 billion worth of Tether tokens in circulation in March. «In the last few years we have seen the usage of USDTgoing from pure cryptocurrency trading to being basically the most used digital dollar in the world», Ardoino said on the sidelines of the Token2049 crypto conference in Dubai, where industry enthusiasts gathered despite heavy rains this week disrupting life in the desert city.

ALSO READ: Elon Musk puts off India visit to ‘later’, Internet says, ‘No rush! We'll hold off on chai-samosa plans’ As per a Reuters report of 2023, Patel was in New Delhi to meet officials from the Invest India agency to discuss Tesla's plan. He, along with other Tesla representatives were expected to meet commerce minister Piyush Goyal and were to discuss on setting up an EV supply chain and land allotment for a factory.

Tata Motors is planning to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, according to a Reuters report. This policy, unveiled in March, offers significant incentives to car manufacturers. Import duties on some EV models have been slashed from as high as 100 percent to just 15 percent, provided the carmaker invests at least $500 million and sets up a domestic manufacturing facility within three years, as per Reuters.

Tata Motors, the renowned Indian automotive giant, is set to expand its manufacturing prowess with a planned $1 billion investment in a new plant in Tamil Nadu, southern India. Sources privy to the company's plans revealed that the facility will focus on producing luxury cars under the Jaguar Land Rover (JLR) marque, reported Reuters. Although Tata Motors had initially announced the investment in March, specifics regarding the models to be manufactured remained undisclosed.

laying off an undisclosed number of employees as the technology giant cracks down on costs, a company spokesperson said as reported by Reuters. According to the Google spokesperson, the layoffs are not company-wide. The impacted staff will have the chance to seek for internal roles, the spokeswoman added.

European Union's antitrust regulators have concluded that Microsoft's $13 billion investment into OpenAI is not an acquisition, sources familiar with the matter said on Wednesday, signaling the deal will avoid a formal European probe that could have led to onerous remedies for the US tech giant. Microsoft, OpenAI and a spokesperson of the European Commission did not immediately respond to Reuters requests for comment.

Gold rate today: Yellow metal prices steady amid geopolitical risks; higher US Treasury yields weigh Iran announced its military's preparedness to counter any potential Israeli aggression. Recently, Iran launched its inaugural direct assault on Israel, retaliating against a suspected Israeli attack on an Iranian diplomatic facility in Damascus on April 1. On Tuesday, prominent figures from the U.S.

₹6,973 per barrel on the multi commodity exchange (MCX). Oil prices have softened this week as economic headwinds curb gains from geopolitical tensions, with markets eyeing how Israel might respond to Iran's weekend attack. Analysts do not expect Iran's unprecedented missile and drone strike on Israel to prompt dramatic U.S.