Tag: finance

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By Luc Cohen NEW YORK (Reuters) -FTX founder Sam Bankman-Fried’s lawyer on Tuesday said the now-bankrupt cryptocurrency exchange’s investments were not “reckless and frivolous,” pushing back against testimony by former executive Nishad Singh portraying its spending on marketing and celebrity endorsements as excessive. Singh, FTX’s former engineering chief, testified for a second straight day at…

A retail store chain relied on by millions of shoppers will close stores after filing for Chapter 11 bankruptcy…

© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen addresses a news conference during a G20 finance ministers’ and Central Bank governors’ meeting at Gandhinagar, India, July 16, 2023. REUTERS/Amit Dave//File Photo LONDON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Monday it was too early to speculate on the economic consequences of the…

Nigeria, facing a skyrocketing debt situation, has announced plans to secure a $1.5 billion loan from the World Bank, according to Finance Minister Wale Edun. The loan request, which includes concessional financing from the International Development Association (IDA), is set for review at the forthcoming Federal Executive Council meeting in Abuja. The move comes as…

One key type of store has been hit much harder than other retailers and that’s bad news for a lot of communities…

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A retail store chain on the verge of Chapter 11 bankruptcy could shutter one-quarter of its 2,200 stores…