Business

Buffett-backed Nubank in talks to hire U.S. IPO underwriters

Nubank, the Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway, has invited investment banks to pitch for roles on its upcoming initial public offering (IPO) in the United States, people familiar with the matter said on Monday. Nubank’s founder and Chief Executive David Vélez has said an IPO is likely to happen at some […]

Business

Economic conditions have not progressed enough for central bank to shift stance

The U.S. economy is rebounding rapidly from the crisis caused by the coronavirus pandemic, but more progress is needed before the Federal Reserve should begin to scale back some of the robust support it is providing, New York Fed president John Williams said on Monday. The recent inflationary pressures appearing as some businesses struggle to […]

Business

U.S. Supreme Court tosses class action ruling against Goldman Sachs

The U.S. Supreme Court on Monday gave Goldman Sachs Group Inc (GS.N) another chance to avoid an investor class action lawsuit accusing the bank of hiding conflicts of interest when creating risky subprime securities before the 2008 financial crisis. The justices threw out a decision by the Manhattan-based 2nd U.S. Circuit Court of Appeals last […]

Business

Top Endeavor execs leave Live Nation board under antitrust pressure

Two top executives of Endeavor Group Holdings (EDR.N), including chief executive Ari Emanuel, have stepped down from the board of directors of entertainment giant Live Nation (LYV.N) because of antitrust concerns, the U.S. Justice Department said on Monday. Emanuel has been on the Live Nation board of directors since 2007 while Mark Shapiro, president of […]

Business

Dollar gives up some gains after Fed boost; Aussie falters

The dollar index, which rose after the Fed’s surprise hawkish tilt last week, gave up some of its gains on Monday, while the Australian currency stumbled on lower prices of the country’s top export, iron ore. The dollar index , which tracks the greenback against six major currencies, slipped to 92.286 from a high of […]

Business

Bitcoin sees 6th straight week of outflows

Bitcoin investment products and funds posted their sixth consecutive week of outflows, according to data on Monday from digital asset manager CoinShares as a crackdown in China spooked investors. Last week, bitcoin outflows totaled $89 million. For the year, bitcoin outflows hit $487 million, or 1.6% of assets under management, data showed. The crypto sector […]

Business

NY Fed’s Williams says recovery may be ‘choppy’ as U.S. economy returns to full strength

Some shifts in the labor market, including early retirements or people changing jobs, may lead to bumps in the recovery as the U.S. economy continues to heal from the coronavirus crisis, New York Federal Reserve Bank President John Williams said on Monday. “We’re going to get to full strength, I’m not doubting that,” Williams said […]